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REGISTERED NUMBER: NI021078 (Northern Ireland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

AGNEW & FARRELLY LIMITED

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017










Page

Balance Sheet 1

Notes to the Financial Statements 3


AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 884 1,039
Investment property 4 170,000 170,000
170,884 171,039

CURRENT ASSETS
Cash at bank 101 1,724

CREDITORS
Amounts falling due within one year 5 32,586 23,041
NET CURRENT LIABILITIES (32,485 ) (21,317 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,399

149,722

PROVISIONS FOR LIABILITIES 24,538 24,820
NET ASSETS 113,861 124,902

CAPITAL AND RESERVES
Called up share capital 2 2
Non-distributable reserves 61,174 61,174
Retained earnings 52,685 63,726
SHAREHOLDERS' FUNDS 113,861 124,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

BALANCE SHEET - continued
31 MARCH 2017


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 18 December 2017 and were signed on its behalf
by:





Mr J Agnew - Director


AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


1. STATUTORY INFORMATION

Agnew & Farrelly Limited is a private company, limited by shares , registered in Northern Ireland. The
company's registered number and registered office address are as below:

Registered number: NI021078

Registered office: 85 University Street
Belfast
Co. Antrim
BT7 1HP

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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents rental income for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools & equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

No depreciation is provided on investment properties as recommended in Statement of Standard Accounting
Practice No 19 This is a departure from the requirements of the Companies Act 2006 which requires all
properties to be depreciated. Such properties are not held for consumption but for investment and the directors
consider that to depreciate them would not give a true and fair view.

Depreciation is only one amongst many factors reflected in the annual valuation of properties and accordingly
the amount of depreciation which might otherwise have been charged cannot separately identified or quantified.
The directors consider that this policy results in the accounts giving a true and fair view.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

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.


AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


2. ACCOUNTING POLICIES - continued
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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual agreement,
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. TANGIBLE FIXED ASSETS
Fixtures
Tools & and
equipment fittings Totals
£    £    £   
COST
At 1 April 2016
and 31 March 2017 7,659 7,047 14,706
DEPRECIATION
At 1 April 2016 7,499 6,168 13,667
Charge for year 24 131 155
At 31 March 2017 7,523 6,299 13,822
NET BOOK VALUE
At 31 March 2017 136 748 884
At 31 March 2016 160 879 1,039

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2016
and 31 March 2017 170,000
NET BOOK VALUE
At 31 March 2017 170,000
At 31 March 2016 170,000

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2017 is represented by:

£   
Valuation in 2017 170,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Corporation tax - 1,165
Other creditors - 1,113
Directors' current accounts 31,590 19,790
Accruals and deferred income 996 973
32,586 23,041