Francis H. Newman (Shipyards) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00536854 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Francis H. Newman (Shipyards) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

Mrs S F Bartlett

Mrs F F Gunnion

Mr N Newman

SECRETARY:

Mrs F F Gunnion

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

307,346

307,346

Investment property

5

565,000

565,000

872,346

872,346

CURRENT ASSETS

Stocks

1,020

1,250

Debtors

6

65,832

57,576

Investments

7

1,268,089

1,371,600

Cash at bank and in hand

1,124,691

1,119,721

2,459,632

2,550,147

CREDITORS

Amounts falling due within one year

8

431,119

378,776

NET CURRENT ASSETS

2,028,513

2,171,371

TOTAL ASSETS LESS CURRENT LIABILITIES

2,900,859

3,043,717

CAPITAL AND RESERVES

Called up share capital

1,800

1,800

Other reserves

145,488

145,488

Fair value reserve

9

444,825

444,825

Retained earnings

2,308,746

2,451,604

2,900,859

3,043,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 30 September 2021 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.

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

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2020

and 31 December 2020

307,346

18,418

325,764

DEPRECIATION

At 1 January 2020

and 31 December 2020

-

18,418

18,418

NET BOOK VALUE

At 31 December 2020

307,346

-

307,346

At 31 December 2019

307,346

-

307,346

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

565,000

NET BOOK VALUE

At 31 December 2020

565,000

At 31 December 2019

565,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

27,598

18,794

Other debtors

38,234

38,782

65,832

57,576

7.	CURRENT ASSET INVESTMENTS

31.12.20

31.12.19

£

£

Listed investments

1,268,089

1,371,600

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

87,052

13,009

Taxation and social security

1,252

26,784

Other creditors

342,815

338,983

431,119

378,776

9.

RESERVES

Fair

value

reserve

£

At 1 January 2020

and 31 December 2020

444,825

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Francis H. Newman (Shipyards) Limited for the year ended 31 December 2020 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Francis H. Newman (Shipyards) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Francis H. Newman (Shipyards) Limited and state those matters that we have agreed to state to the Board of Directors of Francis H. Newman (Shipyards) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Francis H. Newman (Shipyards) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Francis H. Newman (Shipyards) Limited. You consider that Francis H. Newman (Shipyards) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Francis H. Newman (Shipyards) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Henry Thomas Advisory

Chartered Certified Accountants

Unit 6

St Georges Square

Portsmouth

Hampshire

PO1 3EY

30 September 2021