Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-312false22021-02-01No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08844937 2021-02-01 2022-01-31 08844937 2020-02-01 2021-01-31 08844937 2022-01-31 08844937 2021-01-31 08844937 c:Director1 2021-02-01 2022-01-31 08844937 d:FreeholdInvestmentProperty 2022-01-31 08844937 d:FreeholdInvestmentProperty 2021-01-31 08844937 d:CurrentFinancialInstruments 2022-01-31 08844937 d:CurrentFinancialInstruments 2021-01-31 08844937 d:Non-currentFinancialInstruments 2022-01-31 08844937 d:Non-currentFinancialInstruments 2021-01-31 08844937 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 08844937 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 08844937 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 08844937 d:Non-currentFinancialInstruments d:AfterOneYear 2021-01-31 08844937 d:ShareCapital 2022-01-31 08844937 d:ShareCapital 2021-01-31 08844937 d:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 08844937 d:RetainedEarningsAccumulatedLosses 2022-01-31 08844937 d:RetainedEarningsAccumulatedLosses 2021-01-31 08844937 c:OrdinaryShareClass1 2021-02-01 2022-01-31 08844937 c:OrdinaryShareClass1 2022-01-31 08844937 c:OrdinaryShareClass1 2021-01-31 08844937 c:FRS102 2021-02-01 2022-01-31 08844937 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 08844937 c:FullAccounts 2021-02-01 2022-01-31 08844937 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 08844937 d:OtherDeferredTax 2022-01-31 08844937 d:OtherDeferredTax 2021-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08844937









FERNHURST GARDENS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

 
FERNHURST GARDENS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
FERNHURST GARDENS LIMITED
REGISTERED NUMBER:08844937

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
750,000
750,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,037
1,916

Bank and cash balances
  
26,454
46,818

Current liabilities
  
28,491
48,734

Creditors: amounts falling due within one year
 6 
(201,427)
(203,426)

Net current liabilities
  
 
 
(172,936)
 
 
(154,692)

Total assets less current liabilities
  
577,064
595,308

Creditors: amounts falling due after more than one year
 7 
(385,995)
(385,995)

Provisions for liabilities
  

Deferred tax
 8 
(40,697)
(40,697)

Net assets
  
150,372
168,616


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
 10 
150,370
168,614

  
150,372
168,616


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
FERNHURST GARDENS LIMITED
REGISTERED NUMBER:08844937
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2022

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 September 2022.




D N Reichmann
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FERNHURST GARDENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

Fernhurst Gardens Limited is a limited Company incorporated in England and Wales with its registered office at 5 Elstree Gate. Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company is that of property investment.
The functional and presentational currency of the Company is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In considering the going concern assumption, the directors have prepared projections and cash flow forecasts and considered current facilities available to them. These indicate a material reliance on support from the Company’s loan creditor will be required to enable the Company to continue as a going concern. After making enquiries, the directors have a reasonable expectation that the Company will continue to receive support from the loan creditor as required and therefore will have adequate resources to continue to meet all of its liabilities as they fall due for at least twelve months from the date of their approval of these financial statements. Accordingly the directors continue to adopt the going concern basis in preparing the annual report and financial statements.

 
2.3

Revenue

Turnover comprises rent receivable, exclusive of Value Added Tax (where applicable) and is recognised in the period to which it relates.

 
2.4

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

 
2.5

Debtors

Short term debtors are measured at the transaction price.

Page 3

 
FERNHURST GARDENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, mortgage loans, and loans from related parties.

 
2.7

Creditors

Short term creditors are measured at the transaction price. 

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
 - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The directors were the only employees of the Company during the current and preceding year.


Page 4

 
FERNHURST GARDENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2021
750,000



At 31 January 2022
750,000

The 2022 valuation was made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2022
2021
£
£


Historic cost
491,116
491,116


5.


Debtors

2022
2021
£
£


Prepayments and accrued income
2,037
1,916



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
200,000
200,000

Accruals and deferred income
1,427
3,426

201,427
203,426



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Mortgage loan
385,995
385,995


The Mortgage Works loan, which falls due for repayment after more than five years, is secured by a  charge on the freehold investment property.

Page 5

 
FERNHURST GARDENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

8.


Deferred taxation




2022


£






At beginning of year
(40,697)



At end of year
(40,697)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Fair value movements
(40,697)
(40,697)


9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 - 2) Ordinary shares of £1 each
2
2



10.


Reserves

Profit and loss account

The profit and loss reserve contains the cumulative balance of retained profit and losses as well as investment property revaluations since the company started trading. There were no distributable reserves at the balance sheet date (2021 - £Nil).

 
Page 6