CONDOR FERRIES LIMITED

Company Registration Number:
02114802 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2024

Period of accounts

Start date: 26 March 2023

End date: 30 March 2024

CONDOR FERRIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

CONDOR FERRIES LIMITED

Directors' report period ended 30 March 2024

The directors present their report with the financial statements of the company for the period ended 30 March 2024

Principal activities of the company

The principal activities of the Company during the period were to provide management services and to act as an agent for passenger and freight shipping companies. The Company is expected to continue in a similar manner for the foreseeable future. Condor Limited who acts as an agent on behalf of the Company manages the daily transaction processing.



Directors

The directors shown below have held office during the whole of the period from
26 March 2023 to 30 March 2024

Russell Kew
Ash Kelso


The director shown below has held office during the period of
26 March 2023 to 20 February 2024

John Napton


The director shown below has held office during the period of
22 February 2024 to 30 March 2024

Christophe Mathieu


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
15 May 2025

And signed on behalf of the board by:
Name: Christophe Mathieu
Status: Director

CONDOR FERRIES LIMITED

Profit And Loss Account

for the Period Ended 30 March 2024

2024 2023


£

£
Turnover: 8,990,420 7,593,581
Cost of sales: 0 0
Gross profit(or loss): 8,990,420 7,593,581
Distribution costs: ( 2,996,757 ) ( 2,994,256 )
Administrative expenses: ( 6,374,043 ) ( 6,056,948 )
Operating profit(or loss): (380,380) (1,457,623)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (380,380) (1,457,623)
Tax: 0 0
Profit(or loss) for the financial year: (380,380) (1,457,623)

CONDOR FERRIES LIMITED

Balance sheet

As at 30 March 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 2,624,668 2,801,677
Investments:   0 0
Total fixed assets: 2,624,668 2,801,677
Current assets
Stocks:   0 0
Debtors: 4 14,955 14,955
Cash at bank and in hand: 194,879 396,750
Investments:   0 0
Total current assets: 209,834 411,705
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 13,500 ) ( 12,000 )
Net current assets (liabilities): 196,334 399,705
Total assets less current liabilities: 2,821,002 3,201,382
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 2,821,002 3,201,382
Capital and reserves
Called up share capital: 100 100
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 2,820,902 3,201,282
Total Shareholders' funds: 2,821,002 3,201,382

The notes form part of these financial statements

CONDOR FERRIES LIMITED

Balance sheet statements

For the year ending 30 March 2024 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 15 May 2025
and signed on behalf of the board by:

Name: Christophe Mathieu
Status: Director

The notes form part of these financial statements

CONDOR FERRIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents management fees and car parking revenue excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset, less estimated residual value, over its expected useful economic life in equal annual instalments. The rates used are as follows: Improvements to leasehold property 10% - 25% Office furniture and equipment 20% - 25% Motor vehicles 20% Computer hardware 20% - 25% Computer software 20% - 25%

    Other accounting policies

    Group accounts The financial statements contain information about Condor Ferries Limited as an individual company and do not contain consolidated financial information as the parent of the group. The Company is exempt underS400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiaries are included by full consolidation in the consolidated financial statements of its immediate parent Condor UK Holdings Limited, established under the law of a European Economic Area state (a company registered in England and Wales). Operating leases Costs in respect of operating leases are charged to the profit and loss account on a straight-line basis over the lease term. Cashflow The Company is a wholly owned subsidiary of Condor Limited (UK) and is included in the consolidated financial statements of Condor UK Holdings Limited (the parent company of Condor Limited (UK)) which are publicly available. Consequently, the Company has taken advantage of the exemption in FRS 1 (revised1996) from preparing a cashflow statement. Taxation The charge for taxation is based on the results for the period. Deferred taxation is recognised as an asset or liability if transactions have accrued at the balance sheet date that give rise to a right to pay less tax in the future or an obligation to pay more tax in the future. Deferred tax assets and liabilities are not discounted. Pension costs The costs of defined contribution pension plans for qualifying employees are charged to the profit and loss account on an accruals basis. Capital Instruments Capital instruments are accounted for and classified as equity or non-equity share capital, equity or non-equity minority interest or debt according to their form. Costs incurred in raising equity are written off against proceeds received.

CONDOR FERRIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 129 116

CONDOR FERRIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 26 March 2023 2,166,554 0 77,856 6,600,981 130,014 8,975,405
Additions 422,676 38,797 149,979 18,774 630,226
Disposals
Revaluations
Transfers
At 30 March 2024 2,589,230 0 116,653 6,750,960 148,788 9,605,631
Depreciation
At 26 March 2023 1,851,849 0 63,664 4,152,651 105,564 6,173,728
Charge for year 185,661 9,408 600,846 11,320 807,235
On disposals
Other adjustments
At 30 March 2024 2,037,510 0 73,072 4,753,497 116,884 6,980,963
Net book value
At 30 March 2024 551,720 0 43,581 1,997,463 31,904 2,624,668
At 25 March 2023 314,705 0 14,192 2,448,330 24,450 2,801,677

CONDOR FERRIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

4. Debtors

2024 2023
£ £
Other debtors 14,955 14,955
Total 14,955 14,955

CONDOR FERRIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 13,500 12,000
Total 13,500 12,000