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Registered number: 08507400
Fernlaw Properties Ltd
Financial Statements
For The Year Ended 30 April 2024
Arthur G Edwards & Co Limited
Chartered Certified Accountants
Alexandra House
74 Moorland Road
Stoke-on-Trent
Staffs
ST6 1DY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08507400
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50,000 50,000
50,000 50,000
CURRENT ASSETS
Debtors 5 2,945 2,847
Cash at bank and in hand 24,502 20,977
27,447 23,824
Creditors: Amounts Falling Due Within One Year 6 (8,421 ) (10,741 )
NET CURRENT ASSETS (LIABILITIES) 19,026 13,083
TOTAL ASSETS LESS CURRENT LIABILITIES 69,026 63,083
NET ASSETS 69,026 63,083
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 68,926 62,983
SHAREHOLDERS' FUNDS 69,026 63,083
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Fern
Director
11/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fernlaw Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08507400 . The registered office is 71 Market Street, Longton, Stoke-on-Trent, ST3 1BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the receipt of monies from property rental.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation with the exception of freehold property. The company maintains its freehold property to a high standard which prolongs its useful life and the directors consider that the adoption of this policy is necessary to give a true and fair view Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
2.4. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 May 2023 50,000
As at 30 April 2024 50,000
Net Book Value
As at 30 April 2024 50,000
As at 1 May 2023 50,000
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,500 2,500
Prepayments and accrued income 445 347
2,945 2,847
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,762 5,763
Corporation tax 1,394 1,991
Accruals and deferred income 540 462
Director's loan account 725 2,525
8,421 10,741
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Ultimate Controlling Party
The company's ultimate controlling parties are Mr M Fern by virtue of the ownership of 100% of the issued share capital in the company.
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