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Company No: 00565787 (England and Wales)

# NEWTON FERRERS SAILING SCHOOL LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

NEWTON FERRERS SAILING SCHOOL LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

NEWTON FERRERS SAILING SCHOOL LIMITED

## BALANCE SHEET

As at 31 March 2025
NEWTON FERRERS SAILING SCHOOL LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 151,237 |  | 151,375
|  | 151,237 |  | 151,375
Current assets |  |  |  |
Stocks |  | 500 |  | 500
Cash at bank and in hand |  | 15,147 |  | 13,390
|  | 15,647 |  | 13,890
Creditors: amounts falling due within one year | 4 | ( 4,078) |  | ( 4,200)
Net current assets |  | 11,569 |  | 9,690
Total assets less current liabilities |  | 162,806 |  | 161,065
Provision for liabilities |  | ( 35,400) |  | ( 35,434)
Net assets |  | 127,406 |  | 125,631
Capital and reserves |  |  |  |
Called-up share capital | 5 | 506 |  | 506
Fair value reserve |  | 112,156 |  | 112,156
Capital redemption reserve |  | 765 |  | 765
Profit and loss account |  | 13,979 |  | 12,204
Total shareholder's funds |  | 127,406 |  | 125,631

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Newton Ferrers Sailing School Limited (registered number: 00565787) were approved and authorised for issue by the Director on 27 October 2025. They were signed on its behalf by:

Mrs A E Thomson Director |

NEWTON FERRERS SAILING SCHOOL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
NEWTON FERRERS SAILING SCHOOL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Newton Ferrers Sailing School Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Boat Shed, Gunsey Lane, Newton Ferrers, Plymouth, PL8 1AY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 10 % reducing balance
Vehicles | 20 % reducing balance
Fixtures and fittings | 10 % reducing balance
Tools and equipment | 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Freehold property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value and any gains in valuation are recognised in other comprehensive income. Deferred taxation is provided on thse gains at the rate expected to apply when th property is sold.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 0 |  | 0

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Tools and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 April 2024 | 150,000 |  | 2,531 |  | 7,083 |  | 2,400 |  | 4,250 |  | 166,264
At 31 March 2025 | 150,000 |  | 2,531 |  | 7,083 |  | 2,400 |  | 4,250 |  | 166,264
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 April 2024 | 0 |  | 2,531 |  | 7,083 |  | 2,400 |  | 2,875 |  | 14,889
Charge for the financial year | 0 |  | 0 |  | 0 |  | 0 |  | 138 |  | 138
At 31 March 2025 | 0 |  | 2,531 |  | 7,083 |  | 2,400 |  | 3,013 |  | 15,027
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 March 2025 | 150,000 |  | 0 |  | 0 |  | 0 |  | 1,237 |  | 151,237
At 31 March 2024 | 150,000 |  | 0 |  | 0 |  | 0 |  | 1,375 |  | 151,375

#### 4. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 204 |  | 393
Taxation and social security | 910 |  | 634
Other creditors | 2,964 |  | 3,173
| 4,078 |  | 4,200

#### 5. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
506 Ordinary shares of £ 1.00 each | 506 |  | 506