Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC333995 Mr Joseph Gillan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC333995 2023-03-31 SC333995 2024-03-31 SC333995 2023-04-01 2024-03-31 SC333995 frs-core:CurrentFinancialInstruments 2024-03-31 SC333995 frs-core:Non-currentFinancialInstruments 2024-03-31 SC333995 frs-core:ComputerEquipment 2024-03-31 SC333995 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC333995 frs-core:ComputerEquipment 2023-03-31 SC333995 frs-core:FurnitureFittings 2024-03-31 SC333995 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC333995 frs-core:FurnitureFittings 2023-03-31 SC333995 frs-core:ShareCapital 2024-03-31 SC333995 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC333995 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC333995 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC333995 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC333995 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC333995 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC333995 frs-bus:Director1 2023-04-01 2024-03-31 SC333995 frs-countries:Scotland 2023-04-01 2024-03-31 SC333995 2022-03-31 SC333995 2023-03-31 SC333995 2022-04-01 2023-03-31 SC333995 frs-core:CurrentFinancialInstruments 2023-03-31 SC333995 frs-core:Non-currentFinancialInstruments 2023-03-31 SC333995 frs-core:ShareCapital 2023-03-31 SC333995 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC333995
The Ferry Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
K M Accounting Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC333995
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,351 8,538
10,351 8,538
CURRENT ASSETS
Stocks 5 17,500 16,250
Debtors 6 8,907 19,787
Cash at bank and in hand 35,523 30,495
61,930 66,532
Creditors: Amounts Falling Due Within One Year 7 (107,303 ) (122,670 )
NET CURRENT ASSETS (LIABILITIES) (45,373 ) (56,138 )
TOTAL ASSETS LESS CURRENT LIABILITIES (35,022 ) (47,600 )
Creditors: Amounts Falling Due After More Than One Year 8 (34,659 ) (36,765 )
NET LIABILITIES (69,681 ) (84,365 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (69,781 ) (84,465 )
SHAREHOLDERS' FUNDS (69,681) (84,365)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joseph Gillan
Director
25/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Ferry Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC333995 . The registered office is Anderston Quay, GLASGOW, G3 8BX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 25)
25 25
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 24,447 2,367 26,814
Additions 4,811 683 5,494
As at 31 March 2024 29,258 3,050 32,308
Depreciation
As at 1 April 2023 16,356 1,920 18,276
Provided during the period 3,229 452 3,681
As at 31 March 2024 19,585 2,372 21,957
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 9,673 678 10,351
As at 1 April 2023 8,091 447 8,538
5. Stocks
2024 2023
£ £
Stock 17,500 16,250
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,143 1,633
Other debtors 7,764 18,154
8,907 19,787
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 33,520 44,578
Bank loans and overdrafts 5,882 5,882
Other loans 10,000 -
Other creditors 24,890 9,506
Taxation and social security 33,011 62,704
107,303 122,670
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 34,659 36,765
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4