Registered number
06098342
Fernwood Consulting Limited
Filleted Accounts
31 March 2024
Fernwood Consulting Limited
Registered number: 06098342
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,439 22,911
Investments 4 83,276 -
93,715 22,911
Current assets
Debtors 5 205 553
Cash at bank and in hand 16,599 139,565
16,804 140,118
Creditors: amounts falling due within one year 6 (391) (6,657)
Net current assets 16,413 133,461
Total assets less current liabilities 110,128 156,372
Provisions for liabilities (1,985) (4,355)
Net assets 108,143 152,017
Capital and reserves
Called up share capital 100 100
Profit and loss account 108,043 151,917
Shareholders' funds 108,143 152,017
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Robert Bemelmans
Director
Approved by the board on 7 November 2024
Fernwood Consulting Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Land and buildings over 10 years
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 17,237 9,969 44,860 72,066
At 31 March 2024 17,237 9,969 44,860 72,066
Depreciation
At 1 April 2023 5,446 7,821 35,888 49,155
Charge for the year 1,676 1,824 8,972 12,472
At 31 March 2024 7,122 9,645 44,860 61,627
Net book value
At 31 March 2024 10,115 324 - 10,439
At 31 March 2023 11,791 2,148 8,972 22,911
4 Investments
Other
investments
£
Cost
Additions 83,276
At 31 March 2024 83,276
5 Debtors 2024 2023
£ £
Other debtors 205 553
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 24 527
Trade creditors - 2,925
Taxation and social security costs 30 2,495
Other creditors 337 710
391 6,657
7 Other information
Fernwood Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Brooklands Close
Heath Road
Farnham
Surrey
GU9 9BT
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