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REGISTERED NUMBER: 12614561 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2022

for

Fern Road Ltd

Fern Road Ltd (Registered number: 12614561)






Contents of the Financial Statements
for the Year Ended 30 September 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Fern Road Ltd (Registered number: 12614561)

Balance Sheet
30 September 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Investment property 4 - 2,150,000

Current assets
Debtors 5 534,133 957,719
Cash at bank 1,980 27,957
536,113 985,676
Creditors
Amounts falling due within one year 6 534,318 1,152,312
Net current assets/(liabilities) 1,795 (166,636 )
Total assets less current liabilities 1,795 1,983,364

Provisions for liabilities - 186,767
Net assets 1,795 1,796,597

Capital and reserves
Called up share capital 8 100 100
Fair value reserve 9 - 718,576
Retained earnings 1,695 1,077,921
Shareholders' funds 1,795 1,796,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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.

Fern Road Ltd (Registered number: 12614561)

Balance Sheet - continued
30 September 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:




X Pennington - Director



L Bates - Director


Fern Road Ltd (Registered number: 12614561)

Notes to the Financial Statements
for the Year Ended 30 September 2022

1. Statutory information

Fern Road Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12614561

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

The period covered by the previous financial statements is 498 days therefore comparatives are not entirely comparable. The reason for lengthening the year end is to bring it in line with other companies in the group.

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 as modified by the revaluation of certain assets.

Turnover
Rents received are shown gross of commissions and fees.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued at its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Fern Road Ltd (Registered number: 12614561)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 NIL (2021 - NIL).

4. Investment property
Total
£   
Fair value
At 1 October 2021 2,150,000
Additions 393,266
Disposals (1,637,923 )
Revaluations (905,343 )
At 30 September 2022 -
Net book value
At 30 September 2022 -
At 30 September 2021 2,150,000

The investment property fair value of £nil (2021: £2,150,000) was determined by the directors based on the market value of similar properties in the area.


Fern Road Ltd (Registered number: 12614561)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Amounts owed by group undertakings 534,089 816,750
Other debtors 44 140,969
534,133 957,719

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts - 653,065
Amounts owed to group undertakings 522,351 338,904
Taxation and social security 8,567 11,525
Other creditors 3,400 148,818
534,318 1,152,312

7. Secured debts

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans - 653,065

Bank loans are secured against the assets to which they relate.

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

9. Reserves
Fair
value
reserve
£   
At 1 October 2021 718,576
Transfer (718,576 )

At 30 September 2022 -

Fern Road Ltd (Registered number: 12614561)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

10. Related party disclosures

Within creditors is £101 (2021 - £236) owed to the directors.

Within debtors are amounts owed by one of the 50% parent companies of £323,564 (2021: £45,082).

Within creditors are amounts owed to 100% subsidiaries of one of the 50% parent companies, of £8,477 (2021: £293,938).

During the period management fees of £nil (2021:£28,600) were payable to a member of the group.