IRIS Accounts Production v24.3.0.553 08939267 Board of Directors Board of Directors 1.9.22 31.8.23 31.8.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089392672022-08-31089392672023-08-31089392672022-09-012023-08-31089392672021-03-31089392672021-04-012022-08-31089392672022-08-3108939267ns15:EnglandWales2022-09-012023-08-3108939267ns14:PoundSterling2022-09-012023-08-3108939267ns10:Director12022-09-012023-08-3108939267ns10:Director22022-09-012023-08-3108939267ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3108939267ns10:SmallEntities2022-09-012023-08-3108939267ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3108939267ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3108939267ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3108939267ns10:FullAccounts2022-09-012023-08-3108939267ns10:Director52022-09-012023-08-3108939267ns10:RegisteredOffice2022-09-012023-08-3108939267ns5:CurrentFinancialInstruments2023-08-3108939267ns5:CurrentFinancialInstruments2022-08-3108939267ns5:Non-currentFinancialInstruments2023-08-3108939267ns5:Non-currentFinancialInstruments2022-08-3108939267ns5:ShareCapital2023-08-3108939267ns5:ShareCapital2022-08-3108939267ns5:RetainedEarningsAccumulatedLosses2023-08-3108939267ns5:RetainedEarningsAccumulatedLosses2022-08-3108939267ns5:ComputerEquipment2022-09-012023-08-3108939267ns5:ComputerEquipment2022-08-3108939267ns5:ComputerEquipment2023-08-3108939267ns5:ComputerEquipment2022-08-3108939267ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3108939267ns5:WithinOneYearns5:CurrentFinancialInstruments2022-08-31
REGISTERED NUMBER: 08939267 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Fern Property Ltd

Fern Property Ltd (Registered number: 08939267)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fern Property Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mrs A C Hughes
Mrs L M Martin
A Martin





REGISTERED OFFICE: c/o Ency Associates
Printware Court
Cumberland Business Centre
Portsmouth
Hampshire
PO5 1DS





REGISTERED NUMBER: 08939267 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

Fern Property Ltd (Registered number: 08939267)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 533 1,061
Investment property 5 6,500,000 5,116,745
6,500,533 5,117,806

CURRENT ASSETS
Stocks 50,000 50,000
Debtors 6 5,964 50,019
Cash at bank 23,413 7,646
79,377 107,665
CREDITORS
Amounts falling due within one year 7 1,448,849 1,274,550
NET CURRENT LIABILITIES (1,369,472 ) (1,166,885 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,131,061

3,950,921

CREDITORS
Amounts falling due after more than
one year

8

(4,255,000

)

(3,945,252

)

PROVISIONS FOR LIABILITIES (216,407 ) -
NET ASSETS 659,654 5,669

Fern Property Ltd (Registered number: 08939267)

Balance Sheet - continued
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 659,554 5,569
SHAREHOLDERS' FUNDS 659,654 5,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Mrs A C Hughes - Director



Mrs L M Martin - Director


Fern Property Ltd (Registered number: 08939267)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Fern Property Ltd 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.

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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis. The director has loans to the company totalling £180,981 at the year end. The director has committed to support the company so these amounts will not be withdrawn during the twelve months following the date of approval of the financial statements, unless the company is in the financial position to do so, having first covered all liabilities as they fall due.

The director has considered a period of at least twelve months from the date of his report and taking into account the actions above and the trading results since the year end believe that the company will be able to continue to meet its debts as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
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 stocks to their present location and condition.


Fern Property Ltd (Registered number: 08939267)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022
and 31 August 2023 1,584
DEPRECIATION
At 1 September 2022 523
Charge for year 528
At 31 August 2023 1,051
NET BOOK VALUE
At 31 August 2023 533
At 31 August 2022 1,061

Fern Property Ltd (Registered number: 08939267)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 5,116,745
Additions 420,377
Revaluations 962,878
At 31 August 2023 6,500,000
NET BOOK VALUE
At 31 August 2023 6,500,000
At 31 August 2022 5,116,745

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2023 962,878
Cost 5,537,122
6,500,000

Investment property was valued on an open market basis on 7 September 2022 by Davis Coffer Lyons .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 5,964 50,019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 5,714 10,787
Trade creditors 20,828 77,624
Taxation and social security 2,969 13,733
Other creditors 1,419,338 1,172,406
1,448,849 1,274,550

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans 4,255,000 3,945,252

Fern Property Ltd (Registered number: 08939267)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.8.23 31.8.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 7,143 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 4,225,000 3,915,000

Fiduciam Nominees Limited created 4 charges, all created 31 August 2021, over the freehold property known as:

- Coldeast Hospital, Sarisbury Green, Southampton, title number HP782775.