REGISTERED NUMBER: NI049085 (Northern Ireland)

FARRELL PRODUCTS LTD

Unaudited Financial Statements for the Year Ended 31 January 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Anne Murray

REGISTERED OFFICE:

Unit 1&2, 1a Fairhill Industrial Estate

Aughrim Road

Magherafelt

Co. Londonderry

BT45 6AY

REGISTERED NUMBER:

NI049085 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

Unit 7 Dyehouse

Linen Green

Dungannon

Co. Tyrone

BT71 7HB

NON-CURRENT ASSETS

Intangible assets

5

-

-

Property, plant and equipment

6

39,174

52,232

39,174

52,232

CURRENT ASSETS

Inventories

7

120,000

115,226

Receivables: amounts falling due within one year

8

84,765

120,018

Cash at bank and in hand

465,846

406,523

670,611

641,767

PAYABLES

Amounts falling due within one year

9

(120,259

)

(166,269

)

NET CURRENT ASSETS

550,352

475,498

TOTAL ASSETS LESS CURRENT LIABILITIES

589,526

527,730

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

589,524

527,728

SHAREHOLDERS' FUNDS

589,526

527,730

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 April 2026 and were signed by:

Anne Murray - Director

1.	STATUTORY INFORMATION

Farrell Products Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of non current assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income statement in the period to which they relate.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new

ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

258,000

AMORTISATION

At 1 February 2025

and 31 January 2026

258,000

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

-

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2025

and 31 January 2026

47,201

59,974

81,090

188,265

DEPRECIATION

At 1 February 2025

46,418

49,758

39,857

136,033

Charge for year

196

2,554

10,308

13,058

At 31 January 2026

46,614

52,312

50,165

149,091

NET BOOK VALUE

At 31 January 2026

587

7,662

30,925

39,174

At 31 January 2025

783

10,216

41,233

52,232

7.	INVENTORIES

2026

2025

£

£

Inventories

120,000

115,226

8.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade receivables

84,765

120,018

9.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade payables

40,391

83,121

Taxation and social security

71,439

77,131

Other payables

8,429

6,017

120,259

166,269

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary

1

2

2

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, there was an amount of £4,906 (2024: £12,494) owed to the Director in respect of loans advanced to the company.