Farrell Software Associates Limited - Accounts to registrar (filleted) - small 18.2

Farrell Software Associates Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 03075558(England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2019

FOR

FARRELL SOFTWARE ASSOCIATES LIMITED

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 5th April 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FARRELL SOFTWARE ASSOCIATES LIMITED

COMPANY INFORMATION
for the Year Ended 5th April 2019







DIRECTORS: S Farrell
Mrs A L Farrell





SECRETARY: Mrs A L Farrell





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 03075558(England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

BALANCE SHEET
5th April 2019

5/4/19 5/4/18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,178 2,199

CURRENT ASSETS
Debtors 5 13,356 13,995
Cash at bank 16,943 8,768
30,299 22,763
CREDITORS
Amounts falling due within one year 6 31,725 23,855
NET CURRENT LIABILITIES (1,426 ) (1,092 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

752

1,107

PROVISIONS FOR LIABILITIES 7 414 418
NET ASSETS 338 689

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 238 589
SHAREHOLDERS' FUNDS 338 689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2019 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.

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

BALANCE SHEET - continued
5th April 2019


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 25th November 2019and were signed on its behalf by:





S Farrell- Director


FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 5th April 2019

1. STATUTORY INFORMATION

Farrell Software 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 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.
Fixtures, fittings & equipment - 25% on reducing balance

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 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 3(2018 - 3) .

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5th April 2019

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 6th April 2018 17,316
Additions 705
At 5th April 2019 18,021
DEPRECIATION
At 6th April 2018 15,117
Charge for year 726
At 5th April 2019 15,843
NET BOOK VALUE
At 5th April 2019 2,178
At 5th April 2018 2,199

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/19 5/4/18
£    £   
Trade debtors 13,356 13,230
Directors' current accounts - 765
13,356 13,995

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/19 5/4/18
£    £   
Trade creditors 587 709
Tax 14,465 13,778
Social security and other taxes 6,444 7,868
Directors' current accounts 8,729 -
Accrued expenses 1,500 1,500
31,725 23,855

7. PROVISIONS FOR LIABILITIES
5/4/19 5/4/18
£    £   
Deferred tax 414 418

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5th April 2019

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 6th April 2018 418
Accelerated capital allowances (4 )
Balance at 5th April 2019 414

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 5/4/19 5/4/18
value: £    £   
100 Ordinary £1 100 100

9. CONTINGENT LIABILITIES

The company had no contingent liabilities at 5th April 2019 (2018 - none).

10. ULTIMATE CONTROLLING PARTY

Mr S Farrell and Mrs A L Farrell together own 100% of the company's issued share capital.