Appledore Instow Ferry Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Appledore Instow Ferry Limited

(Registration number: 07683850)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed Assets
Tangible Assets	5	43,733	44,190
Current assets
Debtors	6	2,381	1,313
Cash at bank and in hand		65,611	61,955
		67,992	63,268
Creditors: Amounts falling due within one year	8	(3,158)	(2,813)
Net current assets		64,834	60,455
Total assets less current liabilities		108,567	104,645
Provisions for liabilities		(8,308)	(8,395)
Net assets		100,259	96,250
Capital and Reserves
Retained Earnings		100,259	96,250
Shareholders' funds		100,259	96,250

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised for issue by the Board on 25 August 2026 and signed on its behalf by:
 

Robert Iain Smith

Director

Appledore Instow Ferry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

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

The address of its registered office is:
8 Richmond Rise
Appledore
BIDEFORD
Devon
EX39 1GD

These financial statements were authorised for issue by the Board on 25 August 2026.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Judgements

There are no judgements which management have made in the process of applying the accounting policies.

Key sources of estimation uncertainty

There are no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..

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 sales/value added tax, returns, rebates and discounts.

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.

Appledore Instow Ferry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible Assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	20% Reducing balance
Boats	20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Appledore Instow Ferry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including directors under service contract) during the year, was 0 (2025 - 0).

4	Directors Remuneration

The Directors have waived any remuneration for their services provided to the company.

5	Tangible Assets

	Boats £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2025	104,273	6,797	111,070
Additions	10,250	1,241	11,491
Disposals	(7,652)	-	(7,652)
At 31 March 2026	106,871	8,038	114,909
Depreciation
At 1 April 2025	63,912	2,968	66,880
Charge for the year	8,918	827	9,745
Eliminated on disposal	(5,449)	-	(5,449)
At 31 March 2026	67,381	3,795	71,176
Carrying amount
At 31 March 2026	39,490	4,243	43,733
At 31 March 2025	40,361	3,829	44,190

Appledore Instow Ferry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6

Debtors

	2026 £	2025 £
Prepayments	2,381	1,313
	2,381	1,313

7	Contingent liability

If the Ferry Company ceases to trade or sells the Boat Tessa M before the death of Mr Poole then the Ferry Company will pay to Mr Poole the net proceeds of the sale of the Boat, less any expenses incurred. The original cost of the boat reflected within fixed assets above is £47,563 and its current net book value at the year end £20,542.

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Taxation and social security	1,089	816
Accruals and deferred income	2,069	1,997
	3,158	2,813