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REGISTERED NUMBER: 12487193 (England and Wales)














Unaudited Financial Statements

for the Period 1 March 2023 to 31 March 2024

for

Ponga Fern Developments Ltd

Ponga Fern Developments Ltd (Registered number: 12487193)

Contents of the Financial Statements
for the Period 1 March 2023 to 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Ponga Fern Developments Ltd

Company Information
for the Period 1 March 2023 to 31 March 2024







Directors: R Kuttel
A M C Beeby





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





Registered number: 12487193 (England and Wales)





Accountants: Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambridgeshire
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 period ended 31 March 2024 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 loss of Ponga Fern Developments Ltd. You consider that Ponga Fern Developments Ltd is exempt from the statutory audit requirement for the period.

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
Cambridgeshire
PE6 8EA


3 September 2024

Ponga Fern Developments Ltd (Registered number: 12487193)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 1,126 1,070

Current assets
Stocks 1,021,833 758,746
Debtors 6 490,061 483,381
Cash at bank 12,093 239,213
1,523,987 1,481,340
Creditors
Amounts falling due within one year 7 1,420,554 1,373,648
Net current assets 103,433 107,692
Total assets less current liabilities 104,559 108,762

Provisions for liabilities (191 ) (268 )

Accruals and deferred income (2,678 ) (2,589 )
Net assets 101,690 105,905

Capital and reserves
Called up share capital 100 100
Retained earnings 101,590 105,805
101,690 105,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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
31 March 2024


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 29 August 2024 and were signed on its behalf by:





R Kuttel - Director


Ponga Fern Developments Ltd (Registered number: 12487193)

Notes to the Financial Statements
for the Period 1 March 2023 to 31 March 2024


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 (£).


Due to a change in the company's year end, the comparative figures cover a period of 12 months, whereas the current financial statements cover a period of 13 months. Therefore the comparative figures may not be entirely comparable.

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 period 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 period 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 Period 1 March 2023 to 31 March 2024


3. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. Employees and directors

The average number of employees during the period was NIL (2023 - NIL).

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 March 2023 2,625
Additions 778
Disposals (683 )
At 31 March 2024 2,720
Depreciation
At 1 March 2023 1,555
Charge for period 716
Eliminated on disposal (677 )
At 31 March 2024 1,594
Net book value
At 31 March 2024 1,126
At 28 February 2023 1,070

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Amounts owed by related parties 483,086 483,381
Other debtors 6,975 -
490,061 483,381

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 8,602 84
Amounts owed to related parties 506,627 506,627
Taxation and social security 750 21,343
Other creditors 904,575 845,594
1,420,554 1,373,648

Ponga Fern Developments Ltd (Registered number: 12487193)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 March 2024


8. Related party disclosures

As at the balance sheet date £483,086 (2023: £483,381) remains outstanding from Ponga Fern Properties Ltd, a company under common control.

As at the balance sheet date £2,898 (2023: £2,898) remains outstanding to Clifford Properties Limited, a company under common control.

As at the balance sheet date £506,627 (2023: £506,627) remains outstanding to PFQ Solutions Ltd, a company under common control.