REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2022 |
for |
Fern Road Ltd |
REGISTERED NUMBER: |
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 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings |
Shareholders' funds |
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 |
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 |
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 |
Registered number: |
Registered office: |
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 |
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 |
Additions |
Disposals | ( |
) |
Revaluations | (905,343 | ) |
At 30 September 2022 |
Net book value |
At 30 September 2022 |
At 30 September 2021 |
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 |
Other debtors |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Secured debts |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
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: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | Reserves |
Fair |
value |
reserve |
£ |
At 1 October 2021 |
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. |