IRIS Accounts Production v24.1.0.578 12576347 Board of Directors 1.5.23 30.4.24 30.4.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125763472023-04-30125763472024-04-30125763472023-05-012024-04-30125763472022-04-30125763472022-05-012023-04-30125763472023-04-3012576347ns15:EnglandWales2023-05-012024-04-3012576347ns14:PoundSterling2023-05-012024-04-3012576347ns10:Director12023-05-012024-04-3012576347ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3012576347ns10:SmallEntities2023-05-012024-04-3012576347ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3012576347ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3012576347ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3012576347ns10:FullAccounts2023-05-012024-04-3012576347ns10:Director22023-05-012024-04-3012576347ns10:RegisteredOffice2023-05-012024-04-3012576347ns5:CurrentFinancialInstruments2024-04-3012576347ns5:CurrentFinancialInstruments2023-04-3012576347ns5:Non-currentFinancialInstruments2024-04-3012576347ns5:Non-currentFinancialInstruments2023-04-3012576347ns5:ShareCapital2024-04-3012576347ns5:ShareCapital2023-04-3012576347ns5:RevaluationReserve2024-04-3012576347ns5:RevaluationReserve2023-04-3012576347ns5:RetainedEarningsAccumulatedLosses2024-04-3012576347ns5:RetainedEarningsAccumulatedLosses2023-04-3012576347ns5:MotorVehicles2023-05-012024-04-3012576347ns5:ComputerEquipment2023-05-012024-04-3012576347ns5:MotorVehicles2023-04-3012576347ns5:ComputerEquipment2023-04-3012576347ns5:MotorVehicles2024-04-3012576347ns5:ComputerEquipment2024-04-3012576347ns5:MotorVehicles2023-04-3012576347ns5:ComputerEquipment2023-04-3012576347ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3012576347ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3012576347ns5:RevaluationReserve2023-04-30
REGISTERED NUMBER: 12576347 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

FERN MEDICAL LIMITED

FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FERN MEDICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: S Tiwana
N P K Khatra





REGISTERED OFFICE: 12 Conqueror Court
Sittingbourne
Kent
ME10 5BH





REGISTERED NUMBER: 12576347 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,813 26,973
Investment property 5 995,000 1,005,000
1,025,813 1,031,973

CURRENT ASSETS
Debtors 6 800 862
Cash at bank 1,129 1,628
1,929 2,490
CREDITORS
Amounts falling due within one year 7 574,533 387,509
NET CURRENT LIABILITIES (572,604 ) (385,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,209

646,954

CREDITORS
Amounts falling due after more than one
year

8

(405,523

)

(406,182

)

PROVISIONS FOR LIABILITIES (5,669 ) (47,846 )
NET ASSETS 42,017 192,926

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings - non distributable 10 5,703 151,824
Retained earnings 36,214 41,002
42,017 192,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2024 and were signed on its behalf by:





S Tiwana - Director


FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Fern Medical 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.

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.

There was a net deficiency of current assets of £572,604 at the balance sheet date. The director has confirmed continued support and considered it appropriate to prepare the accounts on a going concern basis.

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 rendering of services.

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.
Motor vehicles - 15% on reducing balance
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.

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.

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.


FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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 (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 37,329 306 37,635
Additions 19,197 - 19,197
Impairments (9,060 ) - (9,060 )
At 30 April 2024 47,466 306 47,772
DEPRECIATION
At 1 May 2023 10,359 303 10,662
Charge for year 6,294 3 6,297
At 30 April 2024 16,653 306 16,959
NET BOOK VALUE
At 30 April 2024 30,813 - 30,813
At 30 April 2023 26,970 3 26,973

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,005,000
Additions 159,222
Revaluations (169,222 )
At 30 April 2024 995,000
NET BOOK VALUE
At 30 April 2024 995,000
At 30 April 2023 1,005,000

FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 183,283
Valuation in 2023 (6,456 )
Valuation in 2024 (169,223 )
Cost 987,396
995,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 987,396 828,173

The investment property was valued on an open market basis on 30 April 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 800 862

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,004 -
Trade creditors 3,090 -
Taxation and social security 713 3,902
Other creditors 569,726 383,607
574,533 387,509

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 402,323 406,182
Other creditors 3,200 -
405,523 406,182

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due over more than 5 yrs by
instalments

402,323

406,182

FERN MEDICAL LIMITED (REGISTERED NUMBER: 12576347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. SECURED DEBTS

The Mortgage Works (UK) PLC hold a fixed and floating charge over the undertaking and all property and assets present and future goodwill, book debts, uncalled capital, buildings, fixtures fixed and plant and machinery. This charge is dated 28 January 2021.

Paragon Bank PLC hold a charge over 24 Clifton Road, SL1 1SP, which was made on 25 January 2023.

10. RESERVES
Retained
earnings
- non
distributable
£   
At 1 May 2023 151,824
Reserve reclassification (146,121 )

At 30 April 2024 5,703