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REGISTERED NUMBER: 07553393 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Walberswick Ferry Company Limited

Walberswick Ferry Company Limited (Registered number: 07553393)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Walberswick Ferry Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs D Chalker





REGISTERED OFFICE: Cherry Orchard
Blackheath
Wenhaston
Halesworth
Suffolk
IP19 9EH





REGISTERED NUMBER: 07553393 (England and Wales)





ACCOUNTANTS: Mark Carter Accountancy Services Ltd
65 Kennedy Avenue
Halesworth
Suffolk
IP19 8EQ

Walberswick Ferry Company Limited (Registered number: 07553393)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 183,247 193,239
183,247 193,239

CURRENT ASSETS
Debtors 6 12,308 6,526
Cash at bank 27,595 29,334
39,903 35,860
CREDITORS
Amounts falling due within one year 7 16,232 18,820
NET CURRENT ASSETS 23,671 17,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,918

210,279

PROVISIONS FOR LIABILITIES 7,615 9,174
NET ASSETS 199,303 201,105

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 199,203 201,005
SHAREHOLDERS' FUNDS 199,303 201,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Walberswick Ferry Company Limited (Registered number: 07553393)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 13 August 2024 and were signed by:





Mrs D Chalker - Director


Walberswick Ferry Company Limited (Registered number: 07553393)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Walberswick Ferry Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Jettys - 5% on reducing balance
Equipment - 15% on reducing balance
Ferry Boats - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.


Walberswick Ferry Company Limited (Registered number: 07553393)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

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.

Turnover
The company's turnover represents the value of services supplied to customers during the year. All services took place in the UK.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 16,500
AMORTISATION
At 1 April 2023
and 31 March 2024 16,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Walberswick Ferry Company Limited (Registered number: 07553393)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Freehold
property Jettys Equipment
£    £    £   
COST
At 1 April 2023 86,030 65,000 38,764
Additions - - 1,305
At 31 March 2024 86,030 65,000 40,069
DEPRECIATION
At 1 April 2023 - 16,095 16,585
Charge for year - 2,446 3,530
At 31 March 2024 - 18,541 20,115
NET BOOK VALUE
At 31 March 2024 86,030 46,459 19,954
At 31 March 2023 86,030 48,905 22,179

Ferry Motor
Boats vehicles Totals
£    £    £   
COST
At 1 April 2023 52,291 18,500 260,585
Additions 3,710 - 5,015
At 31 March 2024 56,001 18,500 265,600
DEPRECIATION
At 1 April 2023 28,307 6,359 67,346
Charge for year 5,996 3,035 15,007
At 31 March 2024 34,303 9,394 82,353
NET BOOK VALUE
At 31 March 2024 21,698 9,106 183,247
At 31 March 2023 23,984 12,141 193,239

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 12,308 6,526

Walberswick Ferry Company Limited (Registered number: 07553393)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 512 429
Taxation and social security 10,320 13,325
Other creditors 5,400 5,066
16,232 18,820