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Registered number: SC763385
The Fernandes Group Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Contents
Page
Accountant's Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 August 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
27/10/2024
Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Page 1
Page 2
Balance Sheet
Registered number: SC763385
2024
Notes £ £
CURRENT ASSETS
Stocks 4 50,468
Debtors 5 1,983
Cash at bank and in hand 900
53,351
Creditors: Amounts Falling Due Within One Year 6 1
NET CURRENT ASSETS (LIABILITIES) 53,352
TOTAL ASSETS LESS CURRENT LIABILITIES 53,352
NET ASSETS 53,352
CAPITAL AND RESERVES
Called up share capital 7 100
Profit and Loss Account 53,252
SHAREHOLDERS' FUNDS 53,352
For the year ending 31 August 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 Ridge Fernandes
Director
27/10/2024
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
The Fernandes Group Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC763385 . The registered office is 272 Bath Street, Glasgow, G2 4JR.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
4. Stocks
2024
£
Finished goods 50,468
5. Debtors
2024
£
Due within one year
Other debtors 1,983
6. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors (1 )
7. Share Capital
2024
£
Allotted, Called up and fully paid 100
Page 3
Page 4
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Ridge Fernandes 1,500 - - - -
The above loan is unsecured, interest free and repayable on demand.
Page 4