Acorah Software Products - Accounts Production 16.5.460 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 SC093857 Mr Michael Addison Mr Paul Addison iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC093857 2024-01-31 SC093857 2025-01-31 SC093857 2024-02-01 2025-01-31 SC093857 frs-core:CurrentFinancialInstruments 2025-01-31 SC093857 frs-core:ComputerEquipment 2025-01-31 SC093857 frs-core:ComputerEquipment 2024-02-01 2025-01-31 SC093857 frs-core:ComputerEquipment 2024-01-31 SC093857 frs-core:FurnitureFittings 2025-01-31 SC093857 frs-core:FurnitureFittings 2024-02-01 2025-01-31 SC093857 frs-core:FurnitureFittings 2024-01-31 SC093857 frs-core:MotorVehicles 2025-01-31 SC093857 frs-core:MotorVehicles 2024-02-01 2025-01-31 SC093857 frs-core:MotorVehicles 2024-01-31 SC093857 frs-core:PlantMachinery 2025-01-31 SC093857 frs-core:PlantMachinery 2024-02-01 2025-01-31 SC093857 frs-core:PlantMachinery 2024-01-31 SC093857 frs-core:ShareCapital 2025-01-31 SC093857 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 SC093857 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC093857 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 SC093857 frs-bus:SmallEntities 2024-02-01 2025-01-31 SC093857 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 SC093857 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC093857 frs-bus:Director1 2024-02-01 2025-01-31 SC093857 frs-bus:Director2 2024-02-01 2025-01-31 SC093857 frs-countries:Scotland 2024-02-01 2025-01-31 SC093857 2023-01-31 SC093857 2024-01-31 SC093857 2023-02-01 2024-01-31 SC093857 frs-core:CurrentFinancialInstruments 2024-01-31 SC093857 frs-core:ShareCapital 2024-01-31 SC093857 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: SC093857
Ferry Marine Limited
Financial Statements
For The Year Ended 31 January 2025
Donoghue & Co. Ltd
19a Wellside Place
Falkirk
FK1 5RL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC093857
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,530 26,370
26,530 26,370
CURRENT ASSETS
Stocks 5 183,000 203,475
Debtors 6 36,301 20,316
Cash at bank and in hand 130,926 170,746
350,227 394,537
Creditors: Amounts Falling Due Within One Year 7 (265,934 ) (286,958 )
NET CURRENT ASSETS (LIABILITIES) 84,293 107,579
TOTAL ASSETS LESS CURRENT LIABILITIES 110,823 133,949
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,039 ) (5,009 )
NET ASSETS 105,784 128,940
CAPITAL AND RESERVES
Called up share capital 9 4,000 4,000
Profit and Loss Account 101,784 124,940
SHAREHOLDERS' FUNDS 105,784 128,940
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Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Addison
Director
31st July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ferry Marine Limited is a private company, limited by shares, incorporated in Scotland, registered number SC093857 . The registered office is Unit 1 Hunting Park, Houstoun Industrial Estate, Livingston, West Lothian, EH54 5QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
Computer Equipment 33.3% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2024 47,329 81,998 31,009 1,666 162,002
Additions 6,576 - - - 6,576
As at 31 January 2025 53,905 81,998 31,009 1,666 168,578
Depreciation
As at 1 February 2024 39,975 67,248 26,743 1,666 135,632
Provided during the period 2,089 3,687 640 - 6,416
As at 31 January 2025 42,064 70,935 27,383 1,666 142,048
Net Book Value
As at 31 January 2025 11,841 11,063 3,626 - 26,530
As at 1 February 2024 7,354 14,750 4,266 - 26,370
5. Stocks
2025 2024
£ £
Stock 180,000 200,475
Work in progress 3,000 3,000
183,000 203,475
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 30,970 14,945
Other debtors 5,331 331
VAT - 3,854
Other taxes and social security - 1,186
36,301 20,316
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 32,304 58,038
Corporation tax 8,557 19,933
Other taxes and social security 1,166 -
VAT 8,294 -
Other creditors 34,663 35,470
Accruals and deferred income 1,080 1,080
Directors' loan accounts 179,870 172,437
265,934 286,958
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4,000 4,000
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2025 2024
£ £
Mr Michael Addison 30,000 -
Mr Paul Addison 30,000 -
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