Verity Frearson Ltd 31/05/2025 iXBRL

Company registration number: 04724704

Verity Frearson Ltd

Unaudited filleted financial statements

31 May 2025

Verity Frearson Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Verity Frearson Ltd

Directors and other information


	Directors	M Stamford
		J Verity


	Company number	04724704


	Registered office	Tudor House
		26 Albert Street
		Harrogate
		HG1 4JT


	Accountants	The Barker Partnership
		24 High Street
		Pateley Bridge
		Harrogate
		HG3 5JU




	Bankers	Barclays Bank plc
		25 James Street
		Harrogate
		N. Yorkshire

Verity Frearson Ltd

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Verity Frearson Ltd

Year ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Verity Frearson Ltd for the year ended 31 May 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Verity Frearson Ltd, as a body, in accordance with the terms of our engagement letter dated 22 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Verity Frearson Ltd and state those matters that we have agreed to state to the board of directors of Verity Frearson Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Verity Frearson Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Verity Frearson Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Verity Frearson Ltd. You consider that Verity Frearson Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Verity Frearson Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Barker Partnership

Chartered Accountants

24 High Street

Pateley Bridge

Harrogate

HG3 5JU

17 November 2025

Verity Frearson Ltd

Statement of financial position

31 May 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	90,263		109,022
		_______		_______
			90,263		109,022

Current assets
Stocks		29,704		26,920
Debtors	7	226,031		246,743
Cash at bank and in hand		1,792,149		1,198,769
		_______		_______
		2,047,884		1,472,432
Creditors: amounts falling due
within one year	8	( 1,185,872)		( 615,415)
		_______		_______
Net current assets			862,012		857,017
			_______		_______
Total assets less current liabilities			952,275		966,039


Provisions for liabilities			( 4,935)		( 5,755)

			_______		_______
Net assets			947,340		960,284
			_______		_______

Capital and reserves
Called up share capital			375		375
Profit and loss account			946,965		959,909
			_______		_______
Shareholders funds			947,340		960,284
			_______		_______

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

Directors responsibilities:

- The 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 November 2025 , and are signed on behalf of the board by:

M Stamford J Verity

Director Director

Company registration number: 04724704

Verity Frearson Ltd

Notes to the financial statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tudor House, 26 Albert Street, Harrogate, HG1 4JT.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	7 years straight line from 1st June 2016

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.Any Tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 36 (2024: 34 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 June 2024 and 31 May 2025	472,715	472,715
	_______	_______
Amortisation
At 1 June 2024 and 31 May 2025	472,715	472,715
	_______	_______
Carrying amount
At 31 May 2025	-	-
	_______	_______
At 31 May 2024	-	-
	_______	_______

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 June 2024	191,908	124,000	315,908
Additions	9,476	-	9,476
	_______	_______	_______
At 31 May 2025	201,384	124,000	325,384
	_______	_______	_______
Depreciation
At 1 June 2024	152,636	54,250	206,886
Charge for the year	10,797	17,438	28,235
	_______	_______	_______
At 31 May 2025	163,433	71,688	235,121
	_______	_______	_______
Carrying amount
At 31 May 2025	37,951	52,312	90,263
	_______	_______	_______
At 31 May 2024	39,272	69,750	109,022
	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	195,714	231,122
Other debtors	30,317	15,621
	_______	_______
	226,031	246,743
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	23,655	26,615
Corporation tax	280,043	164,683
Social security and other taxes	47,331	81,510
Other creditors	834,843	342,607
	_______	_______
	1,185,872	615,415
	_______	_______