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REGISTERED NUMBER: 12487193 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Ponga Fern Developments Ltd

Ponga Fern Developments Ltd (Registered number: 12487193)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 6


Ponga Fern Developments Ltd

Company Information
for the Year Ended 28 February 2023







Directors: R Kuttel
A M C Beeby





Registered office: 27 Market Place
Market Deeping
Peterborough
Cambridgeshire
PE6 8EA





Business address: 8 South Fen Road
Bourne
PE10 0DL





Registered number: 12487193 (England and Wales)





Accountants: Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambs
PE6 8EA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ponga Fern Developments Ltd


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 Statement of financial position. 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 Ponga Fern Developments Ltd for the year ended 28 February 2023 which comprise the Income statement, Statement of financial position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ponga Fern Developments Ltd, as a body, in accordance with the terms of our engagement letter dated 16 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Ponga Fern Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Ponga Fern Developments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ponga Fern Developments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ponga Fern Developments Ltd 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 profit of Ponga Fern Developments Ltd. You consider that Ponga Fern Developments Ltd 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 Ponga Fern Developments Ltd. 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.






Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambs
PE6 8EA


6 October 2023

Ponga Fern Developments Ltd (Registered number: 12487193)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 1,070 394

Current assets
Stocks 758,746 953,986
Debtors 6 483,381 8,550
Cash at bank 239,213 5,206
1,481,340 967,742
Creditors
Amounts falling due within one year 7 1,373,648 947,498
Net current assets 107,692 20,244
Total assets less current liabilities 108,762 20,638

Provisions for liabilities (268 ) (99 )

Accruals and deferred income (2,589 ) (2,865 )
Net assets 105,905 17,674

Capital and reserves
Called up share capital 100 100
Retained earnings 105,805 17,574
105,905 17,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Ponga Fern Developments Ltd (Registered number: 12487193)

Statement of Financial Position - continued
28 February 2023


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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:





R Kuttel - Director


Ponga Fern Developments Ltd (Registered number: 12487193)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. Statutory information

Ponga Fern Developments Ltd 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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 for goods supplied and services rendered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on a straight line basis
Computer equipment - 33% on cost

Stocks
Stocks are valued at lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Ponga Fern Developments Ltd (Registered number: 12487193)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


4. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 March 2022 1,165
Additions 1,460
At 28 February 2023 2,625
Depreciation
At 1 March 2022 771
Charge for year 784
At 28 February 2023 1,555
Net book value
At 28 February 2023 1,070
At 28 February 2022 394

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Amounts owed by related parties 483,381 8,550

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 84 86,447
Amounts owed to related parties 506,627 -
Taxation and social security 21,343 4,944
Other creditors 845,594 856,107
1,373,648 947,498

8. Related party disclosures

As at the balance sheet date £483,381 (2022: NIL) remains outstanding from Ponga Fern Properties Ltd, a company under common control.

As at the balance sheet date £2,898 (2022: NIL) remains outstanding to Clifford Properties Limited, a company under common control.

As at the balance sheet date £506,627 remains outstanding to PFQ Solutions Ltd, a company under common control. (2022: £8,550 outstanding from PFQ Solutions Ltd)