Brian Farrington Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01377253 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

BRIAN FARRINGTON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Farrington

J Farrington

S Small

SECRETARY:

J Farrington

REGISTERED OFFICE:

Rainford Hall

Crank Road

Crank

St Helens

Merseyside

WA11 7RP

REGISTERED NUMBER:

01377253 (England and Wales)

ACCOUNTANTS:

Howard Worth

Drake House

Gadbrook Park

Northwich

Cheshire

CW9 7RA

BANKERS:

National Westminster Bank Plc

5 Ormskirk Street

St Helens

Merseyside

WA10 1DR

FIXED ASSETS

Tangible assets

4

6,795

7,549

CURRENT ASSETS

Debtors

5

26,958

54,574

Cash at bank and in hand

953,197

1,214,456

980,155

1,269,030

CREDITORS

Amounts falling due within one year

6

23,935

230,622

NET CURRENT ASSETS

956,220

1,038,408

TOTAL ASSETS LESS CURRENT LIABILITIES

963,015

1,045,957

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

913,015

995,957

SHAREHOLDERS' FUNDS

963,015

1,045,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 November 2017 and were signed on its behalf by:

B Farrington - Director

1.	STATUTORY INFORMATION

Brian Farrington Ltd "the Company" 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 the provisions of Section 1A ''Small

Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK

and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared

under the historical cost convention.

These are the first financial statements the Company has prepared in accordance with Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of

Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The

financial statements for the year ended 29 February 2016 were prepared in accordance with Financial

Reporting Standard for Smaller Entities (effective January 2015) (FRSSE).

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and

accounting policy choices differ from the FRSSE. Consequently the directors have amended certain

accounting policies to comply with FRS 102. The directors have also taken advantage of certain

exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''.

There are no changes in the prior period on transition to FRS 102 as the directors consider them to be

immaterial to financial statements

Turnover

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

when the company obtains the right to consideration. This is recognised as work is completed.

Tangible fixed assets

Tangible fixed assets are initially recognised at cost, which is deemed to be invoice price plus the cost

of bringing assets into use. Tangible fixed assets are subsequently depreciated.

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

useful life.

Fixtures and fittings - 10% on reducing balance

Financial instruments

FINANCIAL ASSETS

Trade, group and other debtors

Trade, group and other debtors (including accrued income) which are receivable within one year and

which do not constitute a financing transaction are initially measured at the transaction price and

subsequently measured at amortised cost, being the transaction price less any amounts settled and

any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the

amounts due will not be collected according to the original terms of the contract. Impairment losses

are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present

value of the future cash flows discounted using the original effective interest rate. Subsequent

reversals of an impairment loss that objectively relate to an event occurring after the impairment loss

was recognised, are recognised immediately in profit or loss.

FINANCIAL LIABILITIES

Trade, group and other creditors

Trade, group and other creditors (including accruals) payable within one year that do not constitute a

financing transaction are initially measured at the transaction price and subsequently measured at

amortised cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities

A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or

substantially all the risks and rewards of ownership are transferred to another party, or if some

significant risks and rewards of ownership are retained but control of the asset has transferred to

another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability

(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled

or expires.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Operating lease rentals

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2016

and 28 February 2017

38,349

DEPRECIATION

At 1 March 2016

30,800

Charge for year

754

At 28 February 2017

31,554

NET BOOK VALUE

At 28 February 2017

6,795

At 29 February 2016

7,549

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/17

29/2/16

£

£

Trade debtors

2,151

30,757

Tax

1,779

-

Deferred tax asset

20,722

20,722

Prepayments

2,306

3,095

26,958

54,574

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/17

29/2/16

£

£

Trade creditors

681

6,636

Taxation

-

1,779

Social security and other taxes

2,704

4,021

VAT

7,667

4,716

Other creditors

125

113

Directors' current accounts

11,808

209,507

Accrued expenses

950

3,850

23,935

230,622