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TERN QUAY LIMITED

Registered Number
06327991
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

TERN QUAY LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

Ross Gibson Donnelly

Company Secretary

Craig Brooks Donnelly

Registered Address

60 Lisson Grove, Mutley
Plymouth
Devon
PL4 7DN

Registered Number

06327991 (England and Wales)
TERN QUAY LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3289,647295,753
289,647295,753
Current assets
Debtors43,823442
Cash at bank and on hand3,4184,045
7,2414,487
Creditors amounts falling due within one year5(52,108)(74,823)
Net current assets (liabilities)(44,867)(70,336)
Total assets less current liabilities244,780225,417
Creditors amounts falling due after one year6(80,020)(84,144)
Provisions for liabilities7(46)(84)
Net assets164,714141,189
Capital and reserves
Called up share capital11
Profit and loss account164,713141,188
Shareholders' funds164,714141,189
The financial statements were approved and authorised for issue by the Director on 5 February 2025, and are signed on its behalf by:
Ross Gibson Donnelly
Director
Registered Company No. 06327991
TERN QUAY LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings2
Plant and machinery25
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 August 23385,1144,031389,145
At 31 July 24385,1144,031389,145
Depreciation and impairment
At 01 August 2389,8023,59093,392
Charge for year5,9062006,106
At 31 July 2495,7083,79099,498
Net book value
At 31 July 24289,406241289,647
At 31 July 23295,312441295,753
4.Debtors: amounts due within one year

2024

2023

££
Other debtors3,823442
Total3,823442
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts4,0003,876
Taxation and social security7,2945,809
Other creditors38,96263,895
Accrued liabilities and deferred income1,8521,243
Total52,10874,823
6.Creditors: amounts due after one year

2024

2023

££
Other creditors80,02084,144
Total80,02084,144
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4684
Total4684
8.Related party transactions
At the year end the company owed Ross Donnelly, the Director, £28,083 (2023: £53,832)