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REGISTERED NUMBER: 05868785 (England and Wales)














Ferryman-Southsea Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Ferryman-Southsea Limited (Registered number: 05868785)






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


Ferryman-Southsea Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J W A Harrison



SECRETARY: Mrs M J E Stow



REGISTERED OFFICE: 16 Victoria Road South
Southsea
Hampshire
PO5 2BZ



REGISTERED NUMBER: 05868785 (England and Wales)



ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA



BANKERS: Lloyds TSB Bank
2-4 Palmerston Road
Southsea
Hampshire
PO5 3QH

Ferryman-Southsea Limited (Registered number: 05868785)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 246,960 150,500

CURRENT ASSETS
Debtors 5 - 45
Cash at bank 117,795 139,802
117,795 139,847
CREDITORS
Amounts falling due within one year 6 42,864 32,501
NET CURRENT ASSETS 74,931 107,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,891

257,846

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 321,791 257,746
SHAREHOLDERS' FUNDS 321,891 257,846

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 his 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.

Ferryman-Southsea Limited (Registered number: 05868785)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





J W A Harrison - Director


Ferryman-Southsea Limited (Registered number: 05868785)

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

1. STATUTORY INFORMATION

Ferryman-Southsea 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.
Freehold property - 2% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

Ferryman-Southsea Limited (Registered number: 05868785)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 175,000 24,878 2,049 201,927
Additions 102,000 - - 102,000
At 31 March 2024 277,000 24,878 2,049 303,927
DEPRECIATION
At 1 April 2023 24,500 24,878 2,049 51,427
Charge for year 5,540 - - 5,540
At 31 March 2024 30,040 24,878 2,049 56,967
NET BOOK VALUE
At 31 March 2024 246,960 - - 246,960
At 31 March 2023 150,500 - - 150,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts - 45

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,500 32,500
Trade creditors - 1
Taxation 20,363 -
Directors' current accounts 1 -
42,864 32,501

7. RELATED PARTY DISCLOSURES

The company trades in the freehold property owned by the director and he charged the company
a) £571 (previous year (2022) £507) which is exactly the amount of interest he is charged on the mortgages used to buy and renovate the premises.
b) £nil rent (previous year (2022) £nil).

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J W A Harrison.