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REGISTERED NUMBER: 03707839 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

FERRARI PRESS AGENCY LIMITED

FERRARI PRESS AGENCY LIMITED (REGISTERED NUMBER: 03707839)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FERRARI PRESS AGENCY LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: A J Gillham
M D Bell
J Gillham
S C Bell





SECRETARY: J Gillham





REGISTERED OFFICE: 2b Westmount Road
Eltham
London
SE9 1JD





REGISTERED NUMBER: 03707839 (England and Wales)





ACCOUNTANTS: Robsons Accountants
19 Montpelier Avenue
Bexley
Kent
DA5 3AP

FERRARI PRESS AGENCY LIMITED (REGISTERED NUMBER: 03707839)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 732 977

CURRENT ASSETS
Debtors 5 22,396 20,457
Cash at bank 73 73
22,469 20,530
CREDITORS
Amounts falling due within one year 6 (20,915 ) (19,033 )
NET CURRENT ASSETS 1,554 1,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,286

2,474

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,186 2,374
SHAREHOLDERS' FUNDS 2,286 2,474

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 12 October 2023 and were signed on its behalf by:





A J Gillham - Director


FERRARI PRESS AGENCY LIMITED (REGISTERED NUMBER: 03707839)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ferrari Press Agency 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 and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 30,828 55,758 86,586
DEPRECIATION
At 1 April 2022 30,631 54,978 85,609
Charge for year 50 195 245
At 31 March 2023 30,681 55,173 85,854
NET BOOK VALUE
At 31 March 2023 147 585 732
At 31 March 2022 197 780 977

FERRARI PRESS AGENCY LIMITED (REGISTERED NUMBER: 03707839)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,800 4,692
Directors' current accounts 16,977 15,194
Prepayments 619 571
22,396 20,457

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,798 720
Trade creditors (1 ) -
Tax (39 ) 1,360
Social security and other taxes 2,436 2,701
VAT 9,080 8,989
Other creditors 155 640
Directors' current accounts 2,190 1,570
Accrued expenses 3,296 3,053
20,915 19,033

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
A J Gillham
Balance outstanding at start of year 15,194 11,029
Amounts advanced 15,194 15,194
Amounts repaid (16,977 ) (11,029 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,411 15,194