Farworth Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03799682 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

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

294,160

299,353

CURRENT ASSETS

Debtors

5

4,500

72

Cash at bank

306

2,028

4,806

2,100

CREDITORS

Amounts falling due within one year

6

7,713

11,302

NET CURRENT LIABILITIES

(2,907

)

(9,202

)

TOTAL ASSETS LESS CURRENT LIABILITIES

291,253

290,151

CREDITORS

Amounts falling due after more than one year

7

206,828

206,828

NET ASSETS

84,425

83,323

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

84,323

83,221

84,425

83,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 30 August 2023 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.

Turnover

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

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

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.

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 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST

At 1 January 2022

and 31 December 2022

278,581

27,457

15,659

321,697

DEPRECIATION

At 1 January 2022

-

6,864

15,480

22,344

Charge for year

-

5,148

45

5,193

At 31 December 2022

-

12,012

15,525

27,537

NET BOOK VALUE

At 31 December 2022

278,581

15,445

134

294,160

At 31 December 2021

278,581

20,593

179

299,353

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Other debtors

4,500

72

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

2,596

8,622

Social security and other taxes

371

221

VAT

3,784

1,734

Other creditors

237

-

Accrued expenses

725

725

7,713

11,302

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Directors' loan accounts

206,828

206,828