2023-10-012024-09-302024-09-30false04882842James Ferrari 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James Ferrari Limited

Registered Number
04882842
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

James Ferrari Limited
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

Bastable, Claire
Ferrari, James

Company Secretary

Bastable, Claire

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Place of Business

The Cottage

Sackmore Lane

Marnhull

Dorset

DT10 1PN


Registered Number

04882842 (England and Wales)
James Ferrari Limited
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-56
-56
Current assets
Debtors41411,712
Cash at bank and on hand19,71732,744
19,73144,456
Creditors amounts falling due within one year5(13,631)(15,794)
Net current assets (liabilities)6,10028,662
Total assets less current liabilities6,10028,718
Net assets6,10028,718
Capital and reserves
Called up share capital100100
Profit and loss account6,00028,618
Shareholders' funds6,10028,718
The financial statements were approved and authorised for issue by the Board of Directors on 9 May 2025, and are signed on its behalf by:
Ferrari, James
Director
Registered Company No. 04882842
James Ferrari Limited
Notes to the Financial Statements
for the year ended 30 September 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 rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 (%)
Plant and machinery25
Office Equipment25
2.Average number of employees
The following average number of employees includes the directors.

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

Total

£
Cost or valuation
At 01 October 234,068
Disposals(4,068)
Depreciation and impairment
At 01 October 234,012
Charge for year14
On disposals(4,026)
Net book value
At 30 September 24-
At 30 September 2356
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-11,500
Other debtors14-
Prepayments and accrued income-212
Total1411,712
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.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-48
Amounts owed to related parties11,6329,119
Taxation and social security8485,619
Accrued liabilities and deferred income1,1511,008
Total13,63115,794
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.