Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Leslie Arthur English 24/10/2012 Timothy David Light 01/07/2023 21/02/2001 Garrick Kenyon Royle 14/05/2015 Timothy Hugh Smithies 21/02/2001 David Alan Blin Stoyle 18/05/2011 23 August 2024 The principal activity of the Company during the financial year was the operation of inland water passenger transport and associated activities. 04164670 2023-12-31 04164670 bus:Director1 2023-12-31 04164670 bus:Director2 2023-12-31 04164670 bus:Director3 2023-12-31 04164670 bus:Director4 2023-12-31 04164670 bus:Director5 2023-12-31 04164670 2022-12-31 04164670 core:CurrentFinancialInstruments 2023-12-31 04164670 core:CurrentFinancialInstruments 2022-12-31 04164670 core:Non-currentFinancialInstruments 2023-12-31 04164670 core:Non-currentFinancialInstruments 2022-12-31 04164670 core:ShareCapital 2023-12-31 04164670 core:ShareCapital 2022-12-31 04164670 core:RetainedEarningsAccumulatedLosses 2023-12-31 04164670 core:RetainedEarningsAccumulatedLosses 2022-12-31 04164670 core:LandBuildings 2022-12-31 04164670 core:PlantMachinery 2022-12-31 04164670 core:Vehicles 2022-12-31 04164670 core:FurnitureFittings 2022-12-31 04164670 core:LandBuildings 2023-12-31 04164670 core:PlantMachinery 2023-12-31 04164670 core:Vehicles 2023-12-31 04164670 core:FurnitureFittings 2023-12-31 04164670 core:DeferredTaxation 2023-12-31 04164670 core:DeferredTaxation 2022-12-31 04164670 core:OtherProvisionsContingentLiabilities 2023-12-31 04164670 core:OtherProvisionsContingentLiabilities 2022-12-31 04164670 bus:OrdinaryShareClass1 2023-12-31 04164670 2023-01-01 2023-12-31 04164670 bus:FilletedAccounts 2023-01-01 2023-12-31 04164670 bus:SmallEntities 2023-01-01 2023-12-31 04164670 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04164670 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04164670 bus:Director1 2023-01-01 2023-12-31 04164670 bus:Director2 2023-01-01 2023-12-31 04164670 bus:Director3 2023-01-01 2023-12-31 04164670 bus:Director4 2023-01-01 2023-12-31 04164670 bus:Director5 2023-01-01 2023-12-31 04164670 core:PlantMachinery core:BottomRangeValue 2023-01-01 2023-12-31 04164670 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 04164670 core:Vehicles core:BottomRangeValue 2023-01-01 2023-12-31 04164670 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 04164670 core:FurnitureFittings core:BottomRangeValue 2023-01-01 2023-12-31 04164670 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 04164670 2022-01-01 2022-12-31 04164670 core:LandBuildings 2023-01-01 2023-12-31 04164670 core:PlantMachinery 2023-01-01 2023-12-31 04164670 core:Vehicles 2023-01-01 2023-12-31 04164670 core:FurnitureFittings 2023-01-01 2023-12-31 04164670 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 04164670 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04164670 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 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 2023
Pages for filing with the registrar

KING HARRY STEAM FERRY COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

KING HARRY STEAM FERRY COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
KING HARRY STEAM FERRY COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Leslie Arthur English
Timothy David Light (Resigned 01 July 2023)
Garrick Kenyon Royle
Timothy Hugh Smithies
David Alan Blin Stoyle
SECRETARY Timothy Hugh Smithies
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 04164670 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
KING HARRY STEAM FERRY COMPANY LIMITED

BALANCE SHEET

As at 31 December 2023
KING HARRY STEAM FERRY COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,147,039 1,199,267
1,147,039 1,199,267
Current assets
Stocks 4 0 1,145
Debtors 5 52,806 52,583
Cash at bank and in hand 438,978 354,942
491,784 408,670
Creditors: amounts falling due within one year 6 ( 309,102) ( 252,867)
Net current assets 182,682 155,803
Total assets less current liabilities 1,329,721 1,355,070
Creditors: amounts falling due after more than one year 7 ( 266,154) ( 286,627)
Provision for liabilities 8 ( 215,402) ( 194,088)
Net assets 848,165 874,355
Capital and reserves
Called-up share capital 9 445,000 444,500
Profit and loss account 403,165 429,855
Total shareholders' funds 848,165 874,355

For the financial year ending 31 December 2023 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 Board of Directors on 23 August 2024. They were signed on its behalf by:

Timothy Hugh Smithies
Director
KING HARRY STEAM FERRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
KING HARRY STEAM FERRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

2023 2022
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 2023 265,340 2,989,570 51,034 204,298 3,510,242
Additions 0 0 34,787 4,549 39,336
Disposals 0 0 ( 24,978) 0 ( 24,978)
At 31 December 2023 265,340 2,989,570 60,843 208,847 3,524,600
Accumulated depreciation
At 01 January 2023 0 2,075,682 38,545 196,748 2,310,975
Charge for the financial year 0 62,136 8,697 8,242 79,075
Disposals 0 0 ( 12,489) 0 ( 12,489)
At 31 December 2023 0 2,137,818 34,753 204,990 2,377,561
Net book value
At 31 December 2023 265,340 851,752 26,090 3,857 1,147,039
At 31 December 2022 265,340 913,888 12,489 7,550 1,199,267

4. Stocks

2023 2022
£ £
Stocks 0 1,145

5. Debtors

2023 2022
£ £
Trade debtors 12,999 10,553
Other debtors 39,807 42,030
52,806 52,583

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 17,603 10,659
Taxation and social security 137,531 107,324
Other creditors 153,968 134,884
309,102 252,867

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

2023 2022
£ £
Other creditors 266,154 286,627

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

8. Provision for liabilities

2023 2022
£ £
Deferred tax 139,802 146,088
Other provisions 75,600 48,000
215,402 194,088

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
445,000 Ordinary shares of £ 1.00 each (2022: 444,500 shares of £ 1.00 each) 445,000 444,500

10. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
TD Light 0 153