Company registration number 04080085 (England and Wales)
FARRELL HEYWORTH HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
FARRELL HEYWORTH HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
FARRELL HEYWORTH HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
447,251
115,765
Current assets
Debtors
5
1,502,371
1,166,489
Cash at bank and in hand
218,942
277,685
1,721,313
1,444,174
Creditors: amounts falling due within one year
6
(874,798)
(546,268)
Net current assets
846,515
897,906
Total assets less current liabilities
1,293,766
1,013,671
Creditors: amounts falling due after more than one year
7
(233,503)
-
0
Provisions for liabilities
(20,353)
(25,537)
Net assets
1,039,910
988,134
Capital and reserves
Called up share capital
8
3,282
3,282
Share premium account
255,840
255,840
Capital redemption reserve
56,334
56,334
Profit and loss reserves
724,454
672,678
Total equity
1,039,910
988,134

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FARRELL HEYWORTH HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2025
31 August 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
Mr M T Collins
Director
Company registration number 04080085 (England and Wales)
FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

Farrell Heyworth Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Floor Suite, The Pavilion, Covell Cross, Lancaster, LA1 1EX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax. Income is recognised upon the invoices for management charges being raised.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% straight line
Fixtures & fittings
15% reducing balance
Computer equipment
25-33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 6 -
1.14

Group relief

The accounts have been prepared on the assumption that group relief is available to facilitate the transfer of corporation tax losses between companies in the group.

The directors have resolved that there may be payment for such losses surrendered.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
18
16
3
Tangible fixed assets
Land and buildings Freehold
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 September 2024
-
0
51,925
225,209
277,134
Additions
353,364
1,912
34,901
390,177
Disposals
-
0
(5,736)
(41,517)
(47,253)
At 31 August 2025
353,364
48,101
218,593
620,058
Depreciation and impairment
At 1 September 2024
-
0
17,649
143,720
161,369
Depreciation charged in the year
6,478
4,910
44,616
56,004
Eliminated in respect of disposals
-
0
(3,049)
(41,517)
(44,566)
At 31 August 2025
6,478
19,510
146,819
172,807
Carrying amount
At 31 August 2025
346,886
28,591
71,774
447,251
At 31 August 2024
-
0
34,276
81,489
115,765
4
Fixed asset investments
2025
2024
£
£
Investments
-
-
FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 September 2024 & 31 August 2025
317,238
Impairment
At 1 September 2024 & 31 August 2025
317,238
Carrying amount
At 31 August 2025
-
At 31 August 2024
-
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,485,000
1,150,000
Other debtors
17,371
16,489
1,502,371
1,166,489
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
11,920
-
0
Trade creditors
322
351
Taxation and social security
67,889
54,272
Other creditors
794,667
491,645
874,798
546,268

Bank loans and overdrafts are secured by way of a debenture over all current and future assets of the company and an inter-group guarantee, along with a debenture over the properties to which the loans relate.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
233,503
-
0
FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
7
Creditors: amounts falling due after more than one year
(Continued)
- 8 -

Bank loans and overdrafts are secured by way of a debenture over all current and future assets of the company and an inter-group guarantee, along with a debenture over the properties to which the loans relate.

Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
160,522
-
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
164,100
164,100
1,641
1,641
Ordinary B shares of 1p each
164,100
164,100
1,641
1,641
328,200
328,200
3,282
3,282

Each class of share has differing rights to dividends, but ranks pari passu in all other respects.

9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Category
Description of
Income
Expenditure
transaction
2025
2024
2025
2024
£
£
£
£
Entities over which the entity has control, joint control or significant influence
Management charges receieved
-
0
59,172
-
0
-
0
Other information

The company has taken advantage of the exemption conferred by Section 33 FRS102, namely from disclosing any transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

10
Financial commitments, guarantees and contingent liabilities

A cross-company unlimited guarantee is in place in favour of NatWest between the company, Farrell Heyworth Limited, Auction House North West Ltd, Farrell Heyworth Lettings Limited, Farrell Heyworth Surveyors Limited and Farrell Heyworth Mortgages and Protection Limited.

At the balance sheet date, group borrowings payable to NatWest totalled £245,423 (2024: £Nil).

FARRELL HEYWORTH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
61,785
39,457
Between two and five years
89,066
84,312
150,851
123,769
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