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Company Registration No. 10218380 (England and Wales)
FERRIS LOGISTICS LTD Unaudited accounts for the year ended 30 June 2024
FERRIS LOGISTICS LTD Unaudited accounts Contents
Page
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FERRIS LOGISTICS LTD Company Information for the year ended 30 June 2024
Director
Mr Jack Ferris
Company Number
10218380 (England and Wales)
Registered Office
106 Forest Rise London E17 3PW
Accountants
Stoke Newington Accountants & Tax Consultants Ltd 4 Baird Road Enfield Middlesex EN1 1SJ
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FERRIS LOGISTICS LTD Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
800 
1,040 
Current assets
Debtors
126,240 
5 
Cash at bank and in hand
99,308 
239,080 
225,548 
239,085 
Creditors: amounts falling due within one year
(12,290)
(14,938)
Net current assets
213,258 
224,147 
Total assets less current liabilities
214,058 
225,187 
Creditors: amounts falling due after more than one year
(220,841)
(224,138)
Net (liabilities)/assets
(6,783)
1,049 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(6,883)
949 
Shareholders' funds
(6,783)
1,049 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 February 2025 and were signed on its behalf by
Mr Jack Ferris Director Company Registration No. 10218380
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FERRIS LOGISTICS LTD Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
FERRIS LOGISTICS LTD is a private company, limited by shares, registered in England and Wales, registration number 10218380. The registered office is 106 Forest Rise, London, E17 3PW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Bal Method
Motor vehicles
25% Reducing Bal Method
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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FERRIS LOGISTICS LTD Notes to the Accounts for the year ended 30 June 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
6,295 
322 
6,617 
At 30 June 2024
6,295 
322 
6,617 
Depreciation
At 1 July 2023
5,453 
124 
5,577 
Charge for the year
210 
30 
240 
At 30 June 2024
5,663 
154 
5,817 
Net book value
At 30 June 2024
632 
168 
800 
At 30 June 2023
842 
198 
1,040 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
125,000 
- 
Other debtors
1,240 
5 
126,240 
5 
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FERRIS LOGISTICS LTD Notes to the Accounts for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
11,090 
11,090 
Taxes and social security
- 
3,086 
Loans from directors
- 
1 
Accruals
1,200 
761 
12,290 
14,938 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
220,841 
224,138 
8
Transactions with related parties
At the balance sheet date, where the director held controlling interests, the company was owed by Ferries Estates Ltd. £125,000. At the balance sheet date, where the director held controlling interest, the company owed the director £220,841.
9
Controlling party
The company's ultimate controlling party is Mr Jack Ferris by virtue of his ownership of 100% of the issued share capital in the company.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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