REGISTERED NUMBER: 01014487 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2026

FOR

G FARWELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Stacey

Mrs M A Sayer

Mr A F Farwell

REGISTERED OFFICE:

Tower View

Crabbswood Lane

Sway

Lymington

Hampshire

SO41 6EQ

REGISTERED NUMBER:

01014487 (England and Wales)

ACCOUNTANTS:

Aspen Waite Limited

Chartered Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,325,108

1,463,241

Investments

6

450

450

1,325,558

1,463,691

CURRENT ASSETS

Stocks

7

234,592

314,721

Debtors

8

473,549

464,870

Cash at bank and in hand

1,012,289

1,126,204

1,720,430

1,905,795

CREDITORS

Amounts falling due within one year

9

(391,628

)

(429,225

)

NET CURRENT ASSETS

1,328,802

1,476,570

TOTAL ASSETS LESS CURRENT LIABILITIES

2,654,360

2,940,261

CREDITORS

Amounts falling due after more than one year

10

(159,185

)

(253,074

)

PROVISIONS FOR LIABILITIES

12

(153,937

)

(148,605

)

NET ASSETS

2,341,238

2,538,582

CAPITAL AND RESERVES

Called up share capital

13

10,000

10,000

Revaluation reserve

92,058

105,218

Retained earnings

2,239,180

2,423,364

SHAREHOLDERS' FUNDS

2,341,238

2,538,582

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

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

The directors acknowledge their 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 and authorised for issue by the Board of Directors and authorised for issue on 27th August 2026 and were signed on its behalf by:

Mrs M A Sayer - Director

1.	STATUTORY INFORMATION

G Farwell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about G Farwell Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER

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

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

4% straight line basis and 2% straight line basis

Plant and machinery

-

12.5% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance and 15% straight line

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

RESEARCH AND DEVELOPMENT

Expenditure on research and development is written off in the year in which it is incurred.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2025 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2025

and 31st March 2026

15,000

AMORTISATION

At 1st April 2025

and 31st March 2026

15,000

NET BOOK VALUE

At 31st March 2026

-

At 31st March 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1st April 2025

1,229,942

1,647,556

81,780

1,309,665

4,268,943

Additions

49,246

47,339

-

26,995

123,580

Disposals

-

(108,300

)

-

(22,495

)

(130,795

)

At 31st March 2026

1,279,188

1,586,595

81,780

1,314,165

4,261,728

DEPRECIATION

At 1st April 2025

772,259

961,638

61,303

1,010,502

2,805,702

Charge for year

40,875

80,177

1,925

79,290

202,267

Eliminated on disposal

-

(49,612

)

-

(21,737

)

(71,349

)

At 31st March 2026

813,134

992,203

63,228

1,068,055

2,936,620

NET BOOK VALUE

At 31st March 2026

466,054

594,392

18,552

246,110

1,325,108

At 31st March 2025

457,683

685,918

20,477

299,163

1,463,241

Cost or valuation at 31st March 2026 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2008

884,000

1,586,595

81,780

1,314,165

3,866,540

Cost

395,188

-

-

-

395,188

1,279,188

1,586,595

81,780

1,314,165

4,261,728

If freehold property had not been revalued they would have been included at the following historical cost:

31/3/26

31/3/25

£

£

Cost

900,964

900,964

Aggregate depreciation

576,255

548,540

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1st April 2025

282,120

150,776

432,896

Transfer to ownership

(105,120

)

-

(105,120

)

At 31st March 2026

177,000

150,776

327,776

DEPRECIATION

At 1st April 2025

39,378

51,829

91,207

Charge for year

17,068

24,737

41,805

Transfer to ownership

(20,920

)

-

(20,920

)

At 31st March 2026

35,526

76,566

112,092

NET BOOK VALUE

At 31st March 2026

141,474

74,210

215,684

At 31st March 2025

242,742

98,947

341,689

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1st April 2025

and 31st March 2026

450

NET BOOK VALUE

At 31st March 2026

450

At 31st March 2025

450

7.

STOCKS

31/3/26

31/3/25

£

£

Raw materials

173,740

173,740

Work-in-progress

60,852

140,981

234,592

314,721

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Trade debtors

302,806

433,431

Amounts owed by group undertakings

138,166

-

Other debtors

501

-

Prepayments

32,076

31,439

473,549

464,870

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Hire purchase contracts

79,445

127,500

Trade creditors

159,147

179,774

Amounts owed to group undertakings

-

450

Corporation tax

-

8,314

Social security and other taxes

118,721

87,872

Proposed dividends

13,000

-

Other creditors

650

650

Accrued expenses

20,665

24,665

391,628

429,225

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/26

31/3/25

£

£

Hire purchase contracts

8,500

87,645

Shareholders' loan

150,685

165,429

159,185

253,074

11.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/26

31/3/25

£

£

Hire purchase contracts

87,945

215,145

12.	PROVISIONS FOR LIABILITIES

31/3/26

31/3/25

£

£

Deferred tax

Accelerated capital allowances

136,438

128,606

Deferred tax on revaluation gain

17,499

19,999

153,937

148,605

Deferred

tax

£

Balance at 1st April 2025

148,605

Credit to Income Statement during year

(24,088

)

Deferred tax on revaluation

(2,500

)

Unused tax losses

31,920

Balance at 31st March 2026

153,937

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/26

31/3/25

value:

£

£

10,000

Ordinary

£1

10,000

10,000

14.	RELATED PARTY DISCLOSURES

The company paid £50,000 - (2024 :£50,000) over the year for use of land at Tower View and Yew Trees owned by G Farwell.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr G Farwell.