Silverfin false 31/12/2021 31/12/2021 01/01/2021 Leslie Arthur English 24/10/2012 Timothy David Light 21/02/2001 Garrick Kenyon Royle 14/05/2015 Timothy Hugh Smithies 21/02/2001 David Alan Blin Stoyle 18/05/2011 15 August 2022 The principal activity of the Company during the financial year was the operation of inland water passenger transport and associated activities. 04164670 2021-12-31 04164670 bus:Director1 2021-12-31 04164670 bus:Director2 2021-12-31 04164670 bus:Director3 2021-12-31 04164670 bus:Director4 2021-12-31 04164670 bus:Director5 2021-12-31 04164670 2020-12-31 04164670 core:CurrentFinancialInstruments 2021-12-31 04164670 core:CurrentFinancialInstruments 2020-12-31 04164670 core:Non-currentFinancialInstruments 2021-12-31 04164670 core:Non-currentFinancialInstruments 2020-12-31 04164670 core:ShareCapital 2021-12-31 04164670 core:ShareCapital 2020-12-31 04164670 core:RetainedEarningsAccumulatedLosses 2021-12-31 04164670 core:RetainedEarningsAccumulatedLosses 2020-12-31 04164670 core:LandBuildings 2020-12-31 04164670 core:PlantMachinery 2020-12-31 04164670 core:Vehicles 2020-12-31 04164670 core:FurnitureFittings 2020-12-31 04164670 core:LandBuildings 2021-12-31 04164670 core:PlantMachinery 2021-12-31 04164670 core:Vehicles 2021-12-31 04164670 core:FurnitureFittings 2021-12-31 04164670 core:DeferredTaxation 2021-12-31 04164670 core:DeferredTaxation 2020-12-31 04164670 core:OtherProvisionsContingentLiabilities 2021-12-31 04164670 core:OtherProvisionsContingentLiabilities 2020-12-31 04164670 bus:OrdinaryShareClass1 2021-12-31 04164670 2021-01-01 2021-12-31 04164670 bus:FullAccounts 2021-01-01 2021-12-31 04164670 bus:SmallEntities 2021-01-01 2021-12-31 04164670 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 04164670 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 04164670 bus:Director1 2021-01-01 2021-12-31 04164670 bus:Director2 2021-01-01 2021-12-31 04164670 bus:Director3 2021-01-01 2021-12-31 04164670 bus:Director4 2021-01-01 2021-12-31 04164670 bus:Director5 2021-01-01 2021-12-31 04164670 core:PlantMachinery core:BottomRangeValue 2021-01-01 2021-12-31 04164670 core:PlantMachinery core:TopRangeValue 2021-01-01 2021-12-31 04164670 core:Vehicles core:BottomRangeValue 2021-01-01 2021-12-31 04164670 core:Vehicles core:TopRangeValue 2021-01-01 2021-12-31 04164670 core:FurnitureFittings core:BottomRangeValue 2021-01-01 2021-12-31 04164670 core:FurnitureFittings core:TopRangeValue 2021-01-01 2021-12-31 04164670 2020-01-01 2020-12-31 04164670 core:LandBuildings 2021-01-01 2021-12-31 04164670 core:PlantMachinery 2021-01-01 2021-12-31 04164670 core:Vehicles 2021-01-01 2021-12-31 04164670 core:FurnitureFittings 2021-01-01 2021-12-31 04164670 core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 04164670 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 04164670 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04164670 (England and Wales)

KING HARRY STEAM FERRY COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2021
Pages for filing with the registrar

KING HARRY STEAM FERRY COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2021

Contents

KING HARRY STEAM FERRY COMPANY LIMITED

BALANCE SHEET

As at 31 December 2021
KING HARRY STEAM FERRY COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 1,286,147 1,340,543
1,286,147 1,340,543
Current assets
Stocks 4 1,145 1,145
Debtors 5 68,764 47,582
Cash at bank and in hand 345,518 514,495
415,427 563,222
Creditors
Amounts falling due within one year 6 ( 235,529) ( 96,417)
Net current assets 179,898 466,805
Total assets less current liabilities 1,466,045 1,807,348
Creditors
Amounts falling due after more than one year 7 ( 307,100) ( 577,575)
Provisions for liabilities 8 ( 147,114) ( 228,463)
Net assets 1,011,831 1,001,310
Capital and reserves
Called-up share capital 9 443,500 443,000
Profit and loss account 568,331 558,310
Total shareholders' funds 1,011,831 1,001,310

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of King Harry Steam Ferry Company Limited (registered number: 04164670) were approved and authorised for issue by the Director on 15 August 2022. They were signed on its behalf by:

David Alan Blin Stoyle
Director
KING HARRY STEAM FERRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
KING HARRY STEAM FERRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

King Harry Steam Ferry Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 5 - 20 years straight line
Vehicles 3 - 3 years straight line
Fixtures and fittings 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

The cost of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 15

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2021 265,340 2,988,610 49,956 196,432 3,500,338
Additions 0 0 24,978 6,974 31,952
Disposals 0 0 ( 23,900) 0 ( 23,900)
At 31 December 2021 265,340 2,988,610 51,034 203,406 3,508,390
Accumulated depreciation
At 01 January 2021 0 1,950,105 47,300 162,390 2,159,795
Charge for the financial year 0 62,717 6,819 16,812 86,348
Disposals 0 0 ( 23,900) 0 ( 23,900)
At 31 December 2021 0 2,012,822 30,219 179,202 2,222,243
Net book value
At 31 December 2021 265,340 975,788 20,815 24,204 1,286,147
At 31 December 2020 265,340 1,038,505 2,656 34,042 1,340,543

4. Stocks

2021 2020
£ £
Stocks 1,145 1,145

5. Debtors

2021 2020
£ £
Trade debtors 14,491 8,859
Other debtors 54,273 38,723
68,764 47,582

6. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 26,488 10,669
Other creditors 155,702 35,347
Corporation tax 47,457 45,080
Other taxation and social security 5,882 5,321
235,529 96,417

7. Creditors: amounts falling due after more than one year

2021 2020
£ £
Bank loans 0 250,000
Other creditors 307,100 327,575
307,100 577,575

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2021 2020
£ £
Deferred tax 123,114 108,463
Other provisions 24,000 120,000
147,114 228,463

9. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
443,500 Ordinary shares of £ 1.00 each (2020: 443,000 shares of £ 1.00 each) 443,500 443,000

In the financial year 2021 class Ordinary shares were allotted with an aggregate nominal value of £500.00

10. Related party transactions

Transactions with the entity's directors

2021 2020
£ £
TD Light 153 2,945