0 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,620 2,620 2,620 xbrli:pure xbrli:shares iso4217:GBP 10471634 2023-03-01 2024-02-29 10471634 2024-02-29 10471634 2023-02-28 10471634 2022-03-01 2023-02-28 10471634 2023-02-28 10471634 2022-02-28 10471634 core:Subsidiary1 2023-03-01 2024-02-29 10471634 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10471634 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 10471634 bus:Director2 2023-03-01 2024-02-29 10471634 core:WithinOneYear 2024-02-29 10471634 core:WithinOneYear 2023-02-28 10471634 core:ShareCapital 2024-02-29 10471634 core:ShareCapital 2023-02-28 10471634 core:SharePremium 2024-02-29 10471634 core:SharePremium 2023-02-28 10471634 core:RetainedEarningsAccumulatedLosses 2024-02-29 10471634 core:RetainedEarningsAccumulatedLosses 2023-02-28 10471634 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 10471634 core:Non-currentFinancialInstruments 2024-02-29 10471634 core:Non-currentFinancialInstruments 2023-02-28 10471634 bus:SmallEntities 2023-03-01 2024-02-29 10471634 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10471634 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10471634 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10471634 bus:FullAccounts 2023-03-01 2024-02-29 10471634 bus:OrdinaryShareClass1 2024-02-29 10471634 bus:OrdinaryShareClass1 2023-02-28 10471634 bus:OrdinaryShareClass2 2024-02-29 10471634 bus:OrdinaryShareClass2 2023-02-28 10471634 bus:AllOrdinaryShares 2024-02-29 10471634 bus:AllOrdinaryShares 2023-02-28
COMPANY REGISTRATION NUMBER: 10471634
Fernbank Investments UK Limited
Filleted Unaudited Financial Statements
For the year ended
29 February 2024
Fernbank Investments UK Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
2,620
2,620
Current assets
Debtors
5
1,997,525
1,998,906
Creditors: amounts falling due within one year
6
1,450
1,242
------------
------------
Net current assets
1,996,075
1,997,664
------------
------------
Total assets less current liabilities
1,998,695
2,000,284
------------
------------
Net assets
1,998,695
2,000,284
------------
------------
Capital and reserves
Called up share capital
7
3,548
3,548
Share premium account
2,003,992
2,003,992
Profit and loss account
( 8,845)
( 7,256)
------------
------------
Shareholders funds
1,998,695
2,000,284
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr Michael W M R MacPhee
Director
Company registration number: 10471634
Fernbank Investments UK Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tate House, Rye Hill, Rye, East Sussex, TN31 7NH, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continue to adopt the going concern basis of accounting in preparing these financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments in subsidiaries
Investments in subsidiary undertakings are accounted for in accordance with the cost model and are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which includes other debtors is initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which includes other creditors are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Investments
Shares in group undertakings
£
Cost
At 1 March 2023 and 29 February 2024
2,620
-------
Impairment
At 1 March 2023 and 29 February 2024
-------
Carrying amount
At 29 February 2024
2,620
-------
At 28 February 2023
2,620
-------
Subsidiaries, associates and other investments
Registered office
Class of share
Percentage of shares held
Subsidiary undertakings
Fernbank Investments Limited
7 Ainslie Place
Ordinary A
100
Edinburgh
Ordinary B
100
EH3 6AS
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,997,525
1,998,906
------------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,450
1,242
-------
-------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary Class A shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary Class B shares of £ 1 each
2,548
2,548
2,548
2,548
-------
-------
-------
-------
3,548
3,548
3,548
3,548
-------
-------
-------
-------