FARREL MANAGEMENT LIMITED Accounts filed on 30-11-2014

FARREL MANAGEMENT LIMITED Accounts filed on 30-11-2014

FARREL MANAGEMENT LIMITED - Company Information

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FARREL MANAGEMENT LIMITED




Company Registration Number:
05618963 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st December 2013

End date: 30th November 2014

SUBMITTED

FARREL MANAGEMENT LIMITED

Company Information
for the Period Ended 30th November 2014




Director: S F Reeves
Company secretary: D B Zackheim
Registered office: 3 Keymer Road
Burgess Hill
West Sussex
RH15 0AD
Company Registration Number: 05618963 (England and Wales)

FARREL MANAGEMENT LIMITED

Abbreviated Balance sheet
As at 30th November 2014

Notes 2014
£		 2013
£
Fixed assets
Intangible assets: 2 185,000 185,000
Tangible assets: 3 132,623 138,547
Total fixed assets: 317,623 323,547
Current assets
Stocks: 500 500
Debtors: 4 7,176 7,088
Total current assets: 7,676 7,588
Creditors
Creditors: amounts falling due within one year 5 133,104 117,687
Net current assets (liabilities): ( 125,428 ) ( 110,099 )
Total assets less current liabilities: 192,195 213,448
Creditors: amounts falling due after more than one year: 6 54,150 85,508
Total net assets (liabilities): 138,045 127,940

The notes form part of these financial statements

FARREL MANAGEMENT LIMITED

Abbreviated Balance sheet
As at 30th November 2014
continued

Notes 2014
£		 2013
£
Capital and reserves
Called up share capital: 7 50,000 50,000
Revaluation reserve: 100,098 100,098
Profit and Loss account: ( 12,053 ) ( 22,158 )
Total shareholders funds: 138,045 127,940

For the year ending 30 November 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 10 February 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: S F Reeves
Status: Director

The notes form part of these financial statements

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off the value of each asset, less any residual value, over its estimated useful life. Plant and machinery - 20% written down value Land and buildings - 15% on cost

    Intangible fixed assets amortisation policy

    Depreciation is provided at a rate that will write off the value of the asset over its estimated life. Goodwill - 10% per annum straight line

    Valuation information and policy

    The value of the Managed Property Portfolio is only depreciated id, in the opinion of the director, its book value falls below current market value.

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 2. Intangible assets

    Total
    Cost £
    At 01st December 2013: 234,230
    234,230
    Amortisation £
    At 01st December 2013: 49,230
    At 30th November 2014: 49,230
    Net book value £
    At 30th November 2014: 185,000
    At 30th November 2013: 185,000

    The director is of the opinion that the market value of the portfolio at 30th November 2014 was not less than £250,000 (2013 - £250,000).

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 3. Tangible assets

    Total
    Cost £
    At 01st December 2013: 225,085
    Additions: 22,714
    At 30th November 2014: 247,799
    Depreciation
    At 01st December 2013: 86,538
    Charge for year: 28,638
    At 30th November 2014: 115,176
    Net book value
    At 30th November 2014: 132,623
    At 30th November 2013: 138,547

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 4. Debtors

    2014
    £     		2013
    £
    Trade debtors: 54 1,713
    Other debtors: 1,747 -
    Prepayments and accrued income: 5,375 5,375
    Total: 7,176 7,088

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 5. Creditors: amounts falling due within one year

    2014
    £     		2013
    £
    Bank loans and overdrafts: 37,410 33,490
    Amounts due under finance leases and hire purchase contracts: 43,286 39,351
    Trade creditors: 10,688 10,544
    Taxation and social security: 6,513 10,190
    Accruals and deferred income: 4,045 10,000
    Other creditors: 31,162 14,112
    Total: 133,104 117,687

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 6. Creditors: amounts falling due after more than one year

    2014
    £     		2013
    £
    Bank loans and overdrafts: 46,839 46,158
    Amounts due under finance leases and hire purchase contracts: 7,311 39,350
    Total: 54,150 85,508

FARREL MANAGEMENT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 30th November 2014

  • 7. Called up share capital

    Allotted, called up and paid

    Previous period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 50,000 1.00
    1.00
    		50,000
    Total share capital: 50,000
    Current period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 50,000 1.00
    1.00
    		50,000
    Total share capital: 50,000