Fitzpatrick Cruise Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04150115 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Fitzpatrick Cruise Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S K Cruise

Mrs H P Cruise

SECRETARY:

Mrs H P Cruise

REGISTERED OFFICE:

Anelehrof

Yoxall

Burton on Trent

Staffordshire

DE13 8NG

REGISTERED NUMBER:

04150115 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Tangible assets

4

27,757

35,678

Investments

5

100

Investment property

6

910,000

937,857

945,778

CURRENT ASSETS

Stocks

8,239

475,957

Debtors

2,562,197

2,239,363

Cash at bank and in hand

26,602

21,084

2,597,038

2,736,404

CREDITORS

Amounts falling due within one year

1,589,175

1,806,443

NET CURRENT ASSETS

1,007,863

929,961

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,945,720

1,875,739

CREDITORS

Amounts falling due after more than
one year

(422,784

)

(424,670

)

PROVISIONS FOR LIABILITIES

(47,617

)

(47,617

)

NET ASSETS

1,475,319

1,403,452

CAPITAL AND RESERVES

Called up share capital

100

Non distributable reserve

273,853

Retained earnings

1,201,366

1,129,499

SHAREHOLDERS' FUNDS

1,475,319

1,403,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

Mrs H P Cruise - Director

1.	STATUTORY INFORMATION

Fitzpatrick Cruise Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, together with the attributable proportion of sales value arising on long term contracts.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease , over the lease term, whichever is the shorter.

Plant and machinery - 20% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value except for long term contracts when the attributable profit to the contract at the balance sheet date is included.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors

Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Creditors

Short term creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

119,546

Disposals

(3,109

)

At 31 December 2024

116,437

DEPRECIATION

At 1 January 2024

83,868

Charge for year

7,869

Eliminated on disposal

(3,057

)

At 31 December 2024

88,680

NET BOOK VALUE

At 31 December 2024

27,757

At 31 December 2023

35,678

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

21,500

DEPRECIATION

At 1 January 2024

11,592

Charge for year

1,981

At 31 December 2024

13,573

NET BOOK VALUE

At 31 December 2024

7,927

At 31 December 2023

9,908

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

910,000

NET BOOK VALUE

At 31 December 2024

910,000

At 31 December 2023

910,000

The properties were valued on 31 December 2023 by the Directors, and are included at their market value.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2021

200,000

Valuation in 2022

110,000

Cost

600,000

910,000

7.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

Net obligations repayable:

Within one year

1,935

3,870

Between one and five years

-

1,935

5,805

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

422,784

422,735

Mortgage

-

173,175

Hire purchase contracts

1,935

5,805

424,719

601,715