Farworth Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03799682 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Farworth Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P K Drobig

Mrs J L Drobig

SECRETARY:

PHA Secretarial Services Ltd

REGISTERED OFFICE:

211-213 Higher Hillgate

Stockport

Cheshire

SK1 3RB

REGISTERED NUMBER:

03799682 (England and Wales)

ACCOUNTANTS:

Brian Gumbley Accountancy Services Ltd

Corner House

28 Huddersfield Road

Newhey

Rochdale

Lancashire

OL16 3QF

FIXED ASSETS

Tangible assets

4

278,790

278,860

CURRENT ASSETS

Debtors

5

5,820

2,820

Cash at bank

643

31

6,463

2,851

CREDITORS

Amounts falling due within one year

6

4,404

4,307

NET CURRENT ASSETS/(LIABILITIES)

2,059

(1,456

)

TOTAL ASSETS LESS CURRENT LIABILITIES

280,849

277,404

CREDITORS

Amounts falling due after more than one year

7

197,250

209,250

NET ASSETS

83,599

68,154

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

83,497

68,052

83,599

68,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 by the Board of Directors and authorised for issue on 18 August 2021 and were signed on its behalf by:

P K Drobig - Director

1.	STATUTORY INFORMATION

Farworth Developments 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2020

and 31 December 2020

278,581

15,659

294,240

DEPRECIATION

At 1 January 2020

-

15,380

15,380

Charge for year

-

70

70

At 31 December 2020

-

15,450

15,450

NET BOOK VALUE

At 31 December 2020

278,581

209

278,790

At 31 December 2019

278,581

279

278,860

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Prepayments

5,820

2,820

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

1

-

Tax

3,639

3,657

Accrued expenses

764

650

4,404

4,307

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Directors' loan accounts

197,250

209,250