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COMPANY REGISTRATION NUMBER: 11674987
FERGIE TIME LTD
Unaudited Financial Statements
30 November 2024
FERGIE TIME LTD
Financial Statements
Year ended 30 November 2024
Contents
Pages
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4 to 5
The following pages do not form part of the financial statements
Incorporated financial accountants report to the board of directors on the preparation of the unaudited statutory financial statements
7
FERGIE TIME LTD
Directors' Report
Year ended 30 November 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .
Directors
The directors who served the company during the year was as follows:
Mr L King
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 August 2025 and signed on behalf of the board by:
Mr J M C King
Director
Registered office:
13 Penman Close
St Albans
England
AL2 3DJ
FERGIE TIME LTD
Statement of Income and Retained Earnings
Year ended 30 November 2024
2024
2023
Note
£
£
Turnover
17,499
9,600
--------
-------
Gross profit
17,499
9,600
Distribution costs
2,188
1,152
Administrative expenses
1,965
3,434
--------
-------
Operating profit
13,346
5,014
Interest payable and similar expenses
8,829
4,264
--------
-------
Profit before taxation
4
4,517
750
Tax on profit
-------
----
Profit for the financial year and total comprehensive income
4,517
750
-------
----
Retained losses at the start of the year
( 7,509)
( 8,259)
-------
-------
Retained losses at the end of the year
( 2,992)
( 7,509)
-------
-------
All the activities of the company are from continuing operations.
FERGIE TIME LTD
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
172,927
172,990
Current assets
Cash at bank and in hand
976
422
Creditors: amounts falling due within one year
6
52,570
56,596
--------
--------
Net current liabilities
51,594
56,174
---------
---------
Total assets less current liabilities
121,333
116,816
Creditors: amounts falling due after more than one year
7
124,324
124,324
---------
---------
Net liabilities
( 2,991)
( 7,508)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 2,992)
( 7,509)
-------
-------
Shareholders deficit
( 2,991)
( 7,508)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 August 2025 , and are signed on behalf of the board by:
Mr J M C King
Director
Company registration number: 11674987
FERGIE TIME LTD
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Penman Close, St Albans, AL2 3DJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
As disclosed in the Statement of Financial Position on page 3, the company has a deficit of net assets. Of the creditors, £52,210 is owed to the director who has confirmed that no repayment would be demanded at least for the next twelve months. The director has considered the trading requirements of the company for the period exceeding twelve months from the date of this report. Having regard to the above therefore, it is the opinion of the director that the accounts be prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
63
79
----
----
5. Tangible assets
Long leasehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2023 and 30 November 2024
172,674
910
173,584
---------
----
---------
Depreciation
At 1 December 2023
594
594
Charge for the year
63
63
---------
----
---------
At 30 November 2024
657
657
---------
----
---------
Carrying amount
At 30 November 2024
172,674
253
172,927
---------
----
---------
At 30 November 2023
172,674
316
172,990
---------
----
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
52,570
56,596
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
124,324
124,324
---------
---------
The bank loan of £124,324 (2023 - £124,324) is secured by a legal mortgage over the company's property and negative pledge.
FERGIE TIME LTD
Management Information
Year ended 30 November 2024
The following pages do not form part of the financial statements.
FERGIE TIME LTD
Incorporated Financial Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of FERGIE TIME LTD
Year ended 30 November 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
RAJPAL & CO. Incorporated Financial Accountants
46 The Ridgeway North Harrow Middlesex HA2 7QN
21 August 2025