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Registration number: 07039264

Ferrymoor Estates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Ferrymoor Estates Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Ferrymoor Estates Ltd

Company Information

Director:

I Block

Registered office:

78-80 Old Oak Common Lane
Savoy House
Savoy Circus
London
W3 7DA

Registered number:

07039264

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Ferrymoor Estates Ltd

(Registration number: 07039264)
Balance Sheet as at 31 March 2024

Note

31.03.24

31.03.23

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

10,979

 

13,175

Investment property

5

 

1,250,000

 

1,250,000

   

1,260,979

 

1,263,175

CURRENT ASSETS

   

 

Stocks

6

13,341

 

-

 

Debtors

7

12,892

 

56,082

 

Cash at bank and in hand

 

14,015

 

2,148

 

 

40,248

 

58,230

 

CREDITORS

   

 

Creditors within 1yr

8

109,421

 

128,518

 

Net current liabilities

   

(69,173)

 

(70,288)

Total assets less current liabilities

   

1,191,806

 

1,192,887

Creditors
Amounts falling due after more than one year

8

 

15,997

 

13,057

PROVISIONS FOR LIABILITIES

 

(121,378)

 

(121,378)

Net assets

   

1,054,431

 

1,058,452

CAPITAL AND RESERVES

   

 

Called up share capital

 

1

 

1

Other reserves

 

452,348

 

452,348

Profit and loss account

 

602,082

 

606,103

Shareholders' funds

   

1,054,431

 

1,058,452

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Ferrymoor Estates Ltd

(Registration number: 07039264)
Balance Sheet as at 31 March 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 December 2024

.........................................
I Block
Director

 

Ferrymoor Estates Ltd

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

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
78-80 Old Oak Common Lane
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 20 December 2024.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Ferrymoor Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

straight line over 10 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Ferrymoor Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Ferrymoor Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4.

Tangible assets

Plant and machinery etc
£

Cost or valuation

At 1 April 2023

21,959

At 31 March 2024

21,959

Depreciation

At 1 April 2023

8,784

Charge for the year

2,196

At 31 March 2024

10,980

Carrying amount

At 31 March 2024

10,979

At 31 March 2023

13,175

5.

Investment properties

31.03.24
£

At 1 April

1,250,000

At 31 March

1,250,000

The properties were valued at the year end on an open market basis by the director.

The value of the investment property is represented by cost of £676,274 and fair value adjustment of £573,726 total £1,250,000.
 

6.

Stocks

31.03.24
£

31.03.23
£

Other inventories

13,341

-

7.

Debtors

 

Ferrymoor Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Debtors (continued)

Current

31.03.24
£

31.03.23
£

Trade debtors

11,520

54,800

Prepayments

1,372

1,282

 

12,892

56,082

8.

Creditors

Creditors: amounts falling due within one year

Note

31.03.24
£

31.03.23
£

Due within one year

 

Loans and borrowings

9

1,536

7,734

Trade creditors

 

11,862

4,596

Taxation and social security

 

83,573

69,144

Accruals and deferred income

 

1,575

2,700

Other creditors

 

10,875

44,344

 

109,421

128,518

Creditors: amounts falling due after more than one year

Note

31.03.24
£

31.03.23
£

Due after one year

 

Loans and borrowings

9

15,997

13,057

9.

Loans and borrowings

31.03.24
£

31.03.23
£

Non-current loans and borrowings

Bank borrowings

15,997

13,057

31.03.24
£

31.03.23
£

Current loans and borrowings

Bank borrowings

1,536

7,734