The Old Ferry Inn (Fowey) Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

The Old Ferry Inn (Fowey) Limited

Balance Sheet

30 September 2021

	Note	2021 £	2020 £
Current assets
Stocks	4	-	8,698
Cash at bank and in hand		4,108	128,820
Fixed assets held for sale		-	165,000
		4,108	302,518
Creditors: Amounts falling due within one year	5	(138,913)	(372,584)
Net liabilities		(134,805)	(70,066)
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(134,905)	(70,166)
Shareholders' deficit		(134,805)	(70,066)

The Old Ferry Inn (Fowey) Limited

Balance Sheet

30 September 2021

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 October 2025
 

......................................... Mr R G Seabourne Director

Company Registration Number: 11383391

The Old Ferry Inn (Fowey) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ground Floor
Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX

The principal place of business is:
The Old Ferry Inn
Bodinnick
Fowey
Cornwall
PL23 1LX

These financial statements were authorised for issue by the director on 29 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company ceased trading on 9 April 2021, and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

The Old Ferry Inn (Fowey) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

Government grants

Grants received are accounted for using the accrual model. Grants are credited to the profit and loss account on a straight line basis over the relevant period in which the related costs are also included or if there are no related costs it recognised as income in the period in which it becomes receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

The Old Ferry Inn (Fowey) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2020 - 7).

4

Stocks

	2021 £	2020 £
Other inventories	-	8,698

The Old Ferry Inn (Fowey) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

5

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Loans and borrowings	6	-	50,000
Trade creditors		-	10,779
Taxation and social security		10,852	19,369
Accruals and deferred income		5,950	2,950
Other creditors		122,111	289,486
		138,913	372,584

6	Loans and borrowings

Current loans and borrowings

	2021 £	2020 £
Bank borrowings	-	50,000

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100