3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 567,462 830,114 753,761 643,815 35,118 35,118 608,697 567,462 xbrli:pure xbrli:shares iso4217:GBP 06063256 2023-01-01 2023-12-31 06063256 2023-12-31 06063256 2022-12-31 06063256 2022-01-01 2022-12-31 06063256 2022-12-31 06063256 2021-12-31 06063256 core:FurnitureFittings 2023-01-01 2023-12-31 06063256 core:MotorVehicles 2023-01-01 2023-12-31 06063256 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06063256 bus:Director1 2023-01-01 2023-12-31 06063256 core:WithinOneYear 2023-12-31 06063256 core:WithinOneYear 2022-12-31 06063256 core:FurnitureFittings 2022-12-31 06063256 core:MotorVehicles 2022-12-31 06063256 core:FurnitureFittings 2023-12-31 06063256 core:MotorVehicles 2023-12-31 06063256 core:ShareCapital 2023-12-31 06063256 core:ShareCapital 2022-12-31 06063256 core:RetainedEarningsAccumulatedLosses 2023-12-31 06063256 core:RetainedEarningsAccumulatedLosses 2022-12-31 06063256 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 06063256 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 06063256 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-12-31 06063256 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 06063256 core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal core:Non-currentFinancialInstruments 2023-12-31 06063256 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-12-31 06063256 core:Non-currentFinancialInstruments 2023-12-31 06063256 core:Non-currentFinancialInstruments 2022-12-31 06063256 core:FurnitureFittings 2022-12-31 06063256 bus:SmallEntities 2023-01-01 2023-12-31 06063256 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06063256 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06063256 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06063256 bus:FullAccounts 2023-01-01 2023-12-31 06063256 bus:OrdinaryShareClass1 2023-12-31 06063256 bus:OrdinaryShareClass1 2022-12-31
COMPANY REGISTRATION NUMBER: 06063256
Ferrari Healy Limited
Filleted Unaudited Financial Statements
31 December 2023
Ferrari Healy Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ferrari Healy Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,072
1,809
Investments
6
608,697
567,462
---------
---------
609,769
569,271
Current assets
Debtors
7
2,398
Cash at bank and in hand
5,551
205,628
-------
---------
7,949
205,628
Creditors: amounts falling due within one year
8
8,076
42,682
-------
---------
Net current (liabilities)/assets
( 127)
162,946
---------
---------
Total assets less current liabilities
609,642
732,217
Provisions
Taxation including deferred tax
344
---------
---------
Net assets
609,642
731,873
---------
---------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
609,542
731,773
---------
---------
Shareholders funds
609,642
731,873
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ferrari Healy Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
Mr L D Healy
Director
Company registration number: 06063256
Ferrari Healy Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM1 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
40% straight line
Motor vehicles
-
20% straight line
Investments
Fixed asset investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
67,209
29,124
96,333
Additions
442
442
--------
--------
--------
At 31 December 2023
67,651
29,124
96,775
--------
--------
--------
Depreciation
At 1 January 2023
65,400
29,124
94,524
Charge for the year
1,179
1,179
--------
--------
--------
At 31 December 2023
66,579
29,124
95,703
--------
--------
--------
Carrying amount
At 31 December 2023
1,072
1,072
--------
--------
--------
At 31 December 2022
1,809
1,809
--------
--------
--------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023
567,462
Additions
830,114
Disposals
( 753,761)
---------
At 31 December 2023
643,815
---------
Impairment
At 1 January 2023
Revaluations
35,118
---------
At 31 December 2023
35,118
---------
Carrying amount
At 31 December 2023
608,697
---------
At 31 December 2022
567,462
---------
7. Debtors
2023
2022
£
£
Directors loan account
952
Other debtors
1,446
-------
----
2,398
-------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
2,925
5,930
Corporation tax
23,928
Social security and other taxes
5,151
12,522
Director loan accounts
302
-------
--------
8,076
42,682
-------
--------
9. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Directors' advances, credits and guarantees
At the year end the directors owed the company £952 (2022 - £Nil) which is shown amongst debtors.
11. Related party transactions
At the year end the company owed its directors £Nil (2022 - £302) which is shown amongst creditors.