Company registration number 03461169 (England and Wales)
FARAGATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
FARAGATE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FARAGATE LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
1,000,000
1,000,000
Current assets
Debtors
4
835
794
Cash at bank and in hand
5,239
8,297
6,074
9,091
Creditors: amounts falling due within one year
5
(62,982)
(571,464)
Net current liabilities
(56,908)
(562,373)
Total assets less current liabilities
943,092
437,627
Creditors: amounts falling due after more than one year
6
(487,355)
-
0
Provisions for liabilities
(11,438)
(11,438)
Net assets
444,299
426,189
Capital and reserves
Called up share capital
154,269
154,269
Capital redemption reserve
25,406
25,406
Non-distributable profits reserve
7
34,314
34,314
Distributable profit and loss reserves
230,310
212,200
Total equity
444,299
426,189
FARAGATE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 8 July 2026 and are signed on its behalf by:
Mr T G Phillips
Director
Company registration number 03461169 (England and Wales)
FARAGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Faragate Limited is a private company limited by shares incorporated in England and Wales. The registered office is Brindles, Delling Lane, Bosham, Chichester, West Sussex, United Kingdom, PO18 8NN.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 relate to Faragate Limited as an individual entity.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rental income which is recognised over the period of the lease.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

FARAGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. 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. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

1.7
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8

Transfer between reserves

Each financial period, any gain or loss on the revaluation of investment property, net of deferred tax, is transferred to the non-distributable reserve.

FARAGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 5 -
2
Employees

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

2025
2024
Number
Number
Total
2
1
3
Investment property
2025
£
Fair value
At 1 December 2024 and 30 November 2025
1,000,000

Investment property comprises properties valued at £1,000,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 November 2025 by the director, Mr T Phillips. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If the investment property had not been revalued, it would have been included at historic cost of £954,248.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
835
794
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
4,829
4,643
Other creditors
58,153
566,821
62,982
571,464
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
487,355
-
0
Creditors which fall due after five years are payable as follows:
Undiscounted amounts payable other than by instalments
502,736
-

The bank loan noted above is secured against the investment property held.

FARAGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
7
Non-distributable profits reserve
2025
2024
£
£
At the beginning and end of the year
34,314
34,314
2025-11-30 2024-12-01 false false false 09 July 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr T G Phillips Mrs K L Phillips 03461169 2024-12-01 2025-11-30 03461169 2025-11-30 03461169 2024-11-30 03461169 core:CurrentFinancialInstruments core:WithinOneYear 2025-11-30 03461169 core:WithinOneYear 2024-11-30 03461169 core:AfterOneYear 2025-11-30 03461169 core:AfterOneYear 2024-11-30 03461169 core:CurrentFinancialInstruments 2025-11-30 03461169 core:CurrentFinancialInstruments 2024-11-30 03461169 core:WithinOneYear 2025-11-30 03461169 core:ShareCapital 2025-11-30 03461169 core:ShareCapital 2024-11-30 03461169 core:CapitalRedemptionReserve 2025-11-30 03461169 core:CapitalRedemptionReserve 2024-11-30 03461169 core:FurtherSpecificReserve1ComponentTotalEquity 2025-11-30 03461169 core:FurtherSpecificReserve1ComponentTotalEquity 2024-11-30 03461169 core:RetainedEarningsAccumulatedLosses 2025-11-30 03461169 core:RetainedEarningsAccumulatedLosses 2024-11-30 03461169 bus:Director1 2024-12-01 2025-11-30 03461169 2023-12-01 2024-11-30 03461169 2024-11-30 03461169 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 03461169 core:Non-currentFinancialInstruments 2025-11-30 03461169 core:Non-currentFinancialInstruments 2024-11-30 03461169 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 03461169 bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 03461169 bus:FRS102 2024-12-01 2025-11-30 03461169 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 03461169 bus:Director2 2024-12-01 2025-11-30 03461169 bus:FullAccounts 2024-12-01 2025-11-30 xbrli:pure xbrli:shares iso4217:GBP