Ferrymere Ltd 14438539 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of promoting the sport and practice of fox hunting generally within the law and in accordance with the rules of the Master of Foxhounds Association or any successor body. Digita Accounts Production Advanced 6.30.9574.0 true true 14438539 2023-05-01 2024-04-30 14438539 2024-04-30 14438539 core:CurrentFinancialInstruments 2024-04-30 14438539 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14438539 core:FurnitureFittings 2024-04-30 14438539 core:MotorVehicles 2024-04-30 14438539 bus:SmallEntities 2023-05-01 2024-04-30 14438539 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14438539 bus:FilletedAccounts 2023-05-01 2024-04-30 14438539 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 14438539 bus:RegisteredOffice 2023-05-01 2024-04-30 14438539 bus:Director1 2023-05-01 2024-04-30 14438539 bus:Director2 2023-05-01 2024-04-30 14438539 bus:Director3 2023-05-01 2024-04-30 14438539 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14438539 core:FurnitureFittings 2023-05-01 2024-04-30 14438539 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 14438539 core:MotorVehicles 2023-05-01 2024-04-30 14438539 core:VehiclesPlantMachinery 2023-05-01 2024-04-30 14438539 core:OtherRelatedParties 2023-05-01 2024-04-30 14438539 countries:EnglandWales 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registration number: 14438539

Ferrymere Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Ferrymere Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Ferrymere Ltd

(Registration number: 14438539)
Statement of Financial Position as at 30 April 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

6,212

Current assets

 

Debtors

5

31,561

Cash at bank and in hand

 

300,332

 

331,893

Creditors: Amounts falling due within one year

6

(16,437)

Net current assets

 

315,456

Net assets

 

321,668

Capital and reserves

 

Profit and loss account

321,668

Shareholders' funds

 

321,668

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 


Sir B White Spunner
Director

 

Ferrymere Ltd

(Registration number: 14438539)
Statement of Financial Position as at 30 April 2024 (continued)


R Atkinson
Director


A Cresswell
Director

 

Ferrymere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Mansion House
54-58 Princes Street
Yeovil
BA20 1EP
England

Principal activity

The principal activity of the company is that of promoting the sport and practice of fox hunting generally within the law and in accordance with the rules of the Master of Foxhounds Association or any successor body.

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 financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Ferrymere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

25% reducing balance

Motor vehicles

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

Ferrymere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Ferrymere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

3

Staff numbers

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

 

Ferrymere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

594

7,690

8,284

At 30 April 2024

594

7,690

8,284

Depreciation

Charge for the year

149

1,923

2,072

At 30 April 2024

149

1,923

2,072

Carrying amount

At 30 April 2024

445

5,767

6,212

5

Debtors

2024
£

Other debtors

29,413

Prepayments

2,148

31,561

 

Ferrymere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

70

Taxation and social security

382

Accruals and deferred income

11,230

Other creditors

4,755

16,437

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Summary of transactions with other related parties

Cattistock Hunt
 During the period, Cattistock Hunt transferred all of its assets and liabilities to Ferrymere Ltd.