Registered number
08327072
FORD ENERGY LTD
Unaudited Filleted Accounts
30 April 2024
FORD ENERGY LTD
Registered number: 08327072
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 139,345 133,542
Current assets
Debtors 4 124,545 140,575
Cash at bank and in hand 20,658 11,799
145,203 152,374
Creditors: amounts falling due within one year 5 (41,856) (70,109)
Net current assets 103,347 82,265
Net assets 242,692 215,807
Capital and reserves
Called up share capital 204,000 204,000
Profit and loss account 38,692 11,807
Shareholder's funds 242,692 215,807
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Duggan
Director
Approved by the board on 10 January 2025
FORD ENERGY LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Investments 20% reducing balance
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 126,351 5,124 5,385 136,860
Additions - 6,648 - 6,648
At 30 April 2024 126,351 11,772 5,385 143,508
Depreciation
At 1 May 2023 - 3,318 - 3,318
Charge for the year - 845 - 845
At 30 April 2024 - 4,163 - 4,163
Net book value
At 30 April 2024 126,351 7,609 5,385 139,345
At 30 April 2023 126,351 1,806 5,385 133,542
4 Debtors 2024 2023
£ £
Other debtors 124,545 140,575
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,490 729
Taxation and social security costs 1,487 3,115
Other creditors 38,879 66,265
41,856 70,109
6 Other information
FORD ENERGY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Brulimar House
Jubilee Road
Middleton
Manchester
M24 2LX
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