Francis H. Newman (Shipyards) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00536854 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Francis H. Newman (Shipyards) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S F Bartlett

Mrs F F Gunnion

Mr N Newman

REGISTERED OFFICE:

Unit A Swan Island

1 Strawberry Vale

Twickenham

Middlesex

TW1 4RX

REGISTERED NUMBER:

00536854 (England and Wales)

ACCOUNTANTS:

Henry Thomas Advisory

Chartered Certified Accountants

Unit 6

St Georges Square

Portsmouth

Hampshire

PO1 3EY

FIXED ASSETS

Tangible assets

4

307,736

307,931

Investment property

5

565,000

872,736

872,931

CURRENT ASSETS

Stocks

980

1,000

Debtors

6

208,945

51,304

Cash at bank and in hand

373,453

1,111,511

583,378

1,163,815

CREDITORS

Amounts falling due within one year

7

305,318

327,912

NET CURRENT ASSETS

278,060

835,903

TOTAL ASSETS LESS CURRENT LIABILITIES

1,150,796

1,708,834

CAPITAL AND RESERVES

Called up share capital

1,800

Other reserves

145,488

Fair value reserve

8

444,825

Retained earnings

558,683

1,116,721

1,150,796

1,708,834

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.

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

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

Mrs F F Gunnion - Director

1.	STATUTORY INFORMATION

Francis H. Newman (Shipyards) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the amount derived from ordinary activities, stated after discounts, value added tax and any other sales taxes, where applicable. Turnover is the value of work performed during the year with respect to services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Items or property, plant and equipment are stated at cost of acquisition less accumulated depreciation.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. The estimated useful lives range as follows:

Plant & Machinery - 20% on straight line method.

Fixtures & Fittings - 20% on straight line method.

Motor Vehicles - 25% on reducing balance method.

Computer Equipment - 20% on straight line method.

The gain or loss arising from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

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

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently measured at amortised cost using the effective interest

method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the Financial Statements and their inclusion in tax assessments.

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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.

Going concern

The directors note that the company is trading adequately and has sufficiently working capital and other finance available to continue trading for a period of not less than 12 months from the date of signing these financial statements. There are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

and 31 December 2024

307,346

19,393

326,739

DEPRECIATION

At 1 January 2024

-

18,808

Charge for year

-

195

At 31 December 2024

-

19,003

NET BOOK VALUE

At 31 December 2024

307,346

390

307,736

At 31 December 2023

307,346

585

307,931

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

565,000

NET BOOK VALUE

At 31 December 2024

565,000

At 31 December 2023

565,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

71,717

38,689

Other debtors

137,228

12,615

208,945

51,304

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

1,932

2,483

Taxation and social security

55,756

60,041

Other creditors

247,630

265,388

305,318

327,912

8.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

444,825

9.	POST BALANCE SHEET EVENTS

There are no reportable events between the date of the Financial Statements and the date of the signing these Financial Statements.