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REGISTERED NUMBER: SC144259 (Scotland)















Financial Statements for the Year Ended 31 March 2024

for

John O'Groats Ferries Limited

John O'Groats Ferries Limited (Registered number: SC144259)






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


John O'Groats Ferries Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs S Thomas



SECRETARY: Mr F Fermor



REGISTERED OFFICE: Ferry Office
John O'Groats
Caithness
KW1 4YR



REGISTERED NUMBER: SC144259 (Scotland)



SOLICITORS: Young, Robertson & Co
29 Traill Street
Thurso
Caithness
KW14 8EG

John O'Groats Ferries Limited (Registered number: SC144259)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 85,860 91,329
Investments 5 1 1
85,861 91,330

CURRENT ASSETS
Debtors 6 22,639 23,485
Cash at bank and in hand 583,042 541,119
605,681 564,604
CREDITORS
Amounts falling due within one year 7 (50,308 ) (73,460 )
NET CURRENT ASSETS 555,373 491,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

641,234

582,474

PROVISIONS FOR LIABILITIES (6,140 ) (5,185 )
NET ASSETS 635,094 577,289

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 635,092 577,287
SHAREHOLDERS' FUNDS 635,094 577,289

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.

John O'Groats Ferries Limited (Registered number: SC144259)

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 30 October 2024 and were signed by:





Mrs S Thomas - Director


John O'Groats Ferries Limited (Registered number: SC144259)

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

1. STATUTORY INFORMATION

John O'Groats Ferries Limited is a private company, limited by shares , registered in Scotland. 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.

TURNOVER
Turnover represents amounts derived from the operation of a passenger ferry service from John O'Groats together with the provision of tours on the Orkney islands.

FIXED ASSETS AND DEPRECIATION
All fixed assets are initially recorded at cost. Depreciation is provided on all tangible assets at rates calculated to write off the cost or valuation, less estimated residual value of each asset, evenly over its expected useful life as follows:

Land and buildings 4% reducing balance
Plant and machinery5%reducing balance
Caravans10%reducing balance
Motor vehicles10%reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

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.

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.

John O'Groats Ferries Limited (Registered number: SC144259)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and Plant and Motor
buildings machinery vehicles Caravans Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 199,584 309,888 9,970 22,808 542,250
DEPRECIATION
At 1 April 2023 136,831 290,858 3,429 19,803 450,921
Charge for year 2,510 2,004 654 301 5,469
At 31 March 2024 139,341 292,862 4,083 20,104 456,390
NET BOOK VALUE
At 31 March 2024 60,243 17,026 5,887 2,704 85,860
At 31 March 2023 62,753 19,030 6,541 3,005 91,329

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 14,266 14,266
Other debtors 8,373 9,219
22,639 23,485

John O'Groats Ferries Limited (Registered number: SC144259)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,735 6,983
Corporation tax 26,468 -
Social security and other taxes 9,648 9,551
Other creditors 7,457 265
Accruals and deferred income - 56,661
50,308 73,460

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S Thomas.