GSM Ferry Inn Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 09191050

		2024
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		126,288

			126,288
CURRENT ASSETS
Stocks		4,500
Debtors		629
Cash at bank and in hand		1,918

		7,047
Creditors: Amounts Falling Due Within One Year		(404,006 )

NET CURRENT ASSETS (LIABILITIES)			(396,959 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(270,671 )

Creditors: Amounts Falling Due After More Than One Year			(4,167 )

NET LIABILITIES			(274,838 )

CAPITAL AND RESERVES
Called up share capital	5		2
Profit and Loss Account			(274,840 )

SHAREHOLDERS' FUNDS			(274,838)

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GSM Ferry Inn Limited

Abridged Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 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.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Gordon Morrison

Director

17/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

GSM Ferry Inn Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09191050 . The registered office is Rosedene, Hunsonby, Penrith, Cumbria, CA10 1PN.

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:

Freehold	No depreciation
Plant & Machinery	12% Straight line
Fixtures & Fittings	10% Straight line
Computer Equipment	33% Straight Line

2.4. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4

4. Tangible Assets

	Total
	£
Cost
As at 1 January 2024	157,175
Additions	1,928

As at 31 December 2024	159,103

Depreciation
As at 1 January 2024	17,754
Provided during the period	15,061

As at 31 December 2024	32,815

...CONTINUED

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GSM Ferry Inn Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	126,288

As at 1 January 2024	139,421

5. Share Capital

	2024
	£
Allotted, Called up and fully paid	2

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