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REGISTERED NUMBER: 04632498 (England and Wales)















Ferndale Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Ferndale Limited (Registered number: 04632498)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ferndale Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R P Baker
D B Vine





SECRETARY: Miss S E Kemp





REGISTERED OFFICE: 1 High Street
Sheerness
Kent
ME12 1NY





BUSINESS ADDRESS: 41 Augustine Road
Minster
Sheerness
Kent
ME12 2NE





REGISTERED NUMBER: 04632498 (England and Wales)





ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY

Ferndale Limited (Registered number: 04632498)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,589 67,463

CURRENT ASSETS
Inventories 146,556 131,362
Debtors 5 15,011 5,342
Cash at bank 1,759 167,885
163,326 304,589
CREDITORS
Amounts falling due within one year 6 176,592 242,354
NET CURRENT (LIABILITIES)/ASSETS (13,266 ) 62,235
TOTAL ASSETS LESS CURRENT LIABILITIES 71,323 129,698

CREDITORS
Amounts falling due after more than one
year

7

(20,119

)

(22,500

)

PROVISIONS FOR LIABILITIES (3,795 ) (2,231 )
NET ASSETS 47,409 104,967

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 47,407 104,965
47,409 104,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Ferndale Limited (Registered number: 04632498)

Statement of Financial Position - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





R P Baker - Director


Ferndale Limited (Registered number: 04632498)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Ferndale Limited 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. 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.

Income recognition
Income represents the fair value received and receivable in respect of the sale of residential housing and land (excluding value added tax). This is recognised on the transfer of control to the customer on legal completion. Profit is recognised on legal completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

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

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 by the year end.

Ferndale Limited (Registered number: 04632498)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 3 ).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 55,723 34,250 89,973
Additions - 24,690 24,690
At 29 February 2024 55,723 58,940 114,663
DEPRECIATION
At 1 March 2023 - 22,510 22,510
Charge for year - 7,564 7,564
At 29 February 2024 - 30,074 30,074
NET BOOK VALUE
At 29 February 2024 55,723 28,866 84,589
At 28 February 2023 55,723 11,740 67,463

Included in cost of land and buildings is freehold land of £ 55,723 (2023 - £ 55,723 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 3,000
Other debtors 15,011 2,342
15,011 5,342

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,325 -
Taxation and social security 4,272 10,165
Other creditors 158,995 222,189
176,592 242,354

Ferndale Limited (Registered number: 04632498)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 7,619 -
20,119 22,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 22,500 32,500