Peter Farrett Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05575792 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Peter Farrett Associates Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P Farrett

SECRETARY:

B Farrett

REGISTERED OFFICE:

1 Stanyards Courtyard

Stanyards Farm

Chertsey Road

Chobham

Surrey

GU24 8JE

REGISTERED NUMBER:

05575792 (England and Wales)

ACCOUNTANTS:

Ahmad York Limited

Chartered Certified Accountants

1 Stanyards Courtyard

Stanyards Farm

Chertsey Road

Chobham

Surrey

GU24 8JE

FIXED ASSETS

Tangible assets

4

4,230

6,666

CURRENT ASSETS

Debtors

9,058

-

Cash at bank

164,323

207,262

173,381

207,262

CREDITORS

Amounts falling due within one year

33,385

23,569

NET CURRENT ASSETS

139,996

183,693

TOTAL ASSETS LESS CURRENT LIABILITIES

144,226

190,359

PROVISIONS FOR LIABILITIES

804

1,282

NET ASSETS

143,422

189,077

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

143,322

188,977

SHAREHOLDERS' FUNDS

143,422

189,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 15 May 2021 and were signed by:

P Farrett - Director

1.	STATUTORY INFORMATION

Peter Farrett Associates 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.

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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2020

13,553

Additions

441

Disposals

(5,380

)

At 31 March 2021

8,614

DEPRECIATION

At 1 April 2020

6,887

Charge for year

1,373

Eliminated on disposal

(3,876

)

At 31 March 2021

4,384

NET BOOK VALUE

At 31 March 2021

4,230

At 31 March 2020

6,666