Company No: 13961845 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	12,086		15,084
		12,086		15,084
Current assets
Stocks	4	1,000		1,000
Debtors
- due within one year	5	12,611		14,414
- due after more than one year	5	32,144		42,858
Cash at bank and in hand		3,894		5,154
		49,649		63,426
Creditors: amounts falling due within one year	6	( 59,004)		( 54,034)
Net current (liabilities)/assets		(9,355)		9,392
Total assets less current liabilities		2,731		24,476
Provision for liabilities		( 2,048)		( 2,559)
Net assets		683		21,917
Capital and reserves
Called-up share capital	7	120		120
Profit and loss account		563		21,797
Total shareholder's funds		683		21,917

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of 60 Fore Street Limited (registered number: 13961845) were approved and authorised for issue by the Board of Directors on 18 June 2025. They were signed on its behalf by:

Mr S Keeble Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

60 Fore Street Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is 60 Fore Street, Port Issac, PL29 3RF.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	7 years straight line
Plant and machinery	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	4		4

3. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 April 2024	3,631		18,683		22,314
At 31 March 2025	3,631		18,683		22,314
Accumulated depreciation
At 01 April 2024	939		6,291		7,230
Charge for the financial period	519		2,479		2,998
At 31 March 2025	1,458		8,770		10,228
Net book value
At 31 March 2025	2,173		9,913		12,086
At 31 March 2024	2,692		12,392		15,084

4. Stocks

	2025		2024
	£		£
Stocks	1,000		1,000

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	756		3,700
Prepayments	166		0
Corporation tax	407		0
Other debtors	11,282		10,714
	12,611		14,414
Debtors: amounts falling due after more than one year
Other debtors	32,144		42,858

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		2,459
Taxation and social security	812		4,471
Other creditors	58,192		47,104
	59,004		54,034

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each	120		120

8. Financial commitments

Commitments

Rental charges are £2,250.00 per calendar month, 48 months are remaining on the lease.