Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false1true2023-05-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4205979 2023-05-01 2024-04-30 4205979 2022-05-01 2023-04-30 4205979 2024-04-30 4205979 2023-04-30 4205979 c:CompanySecretary1 2023-05-01 2024-04-30 4205979 c:Director1 2023-05-01 2024-04-30 4205979 c:RegisteredOffice 2023-05-01 2024-04-30 4205979 c:Agent1 2023-05-01 2024-04-30 4205979 d:Buildings 2023-05-01 2024-04-30 4205979 d:PlantMachinery 2023-05-01 2024-04-30 4205979 d:PlantMachinery 2024-04-30 4205979 d:PlantMachinery 2023-04-30 4205979 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 4205979 d:MotorVehicles 2023-05-01 2024-04-30 4205979 d:FurnitureFittings 2023-05-01 2024-04-30 4205979 d:FurnitureFittings 2024-04-30 4205979 d:FurnitureFittings 2023-04-30 4205979 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 4205979 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 4205979 d:FreeholdInvestmentProperty 2024-04-30 4205979 d:FreeholdInvestmentProperty 2023-04-30 4205979 d:CurrentFinancialInstruments 2024-04-30 4205979 d:CurrentFinancialInstruments 2023-04-30 4205979 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 4205979 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 4205979 d:ShareCapital 2024-04-30 4205979 d:ShareCapital 2023-04-30 4205979 d:RetainedEarningsAccumulatedLosses 2024-04-30 4205979 d:RetainedEarningsAccumulatedLosses 2023-04-30 4205979 c:FRS102 2023-05-01 2024-04-30 4205979 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 4205979 c:FullAccounts 2023-05-01 2024-04-30 4205979 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 4205979 2 2023-05-01 2024-04-30 4205979 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Company registration number: 4205979







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


FERNACRE PROPERTY LIMITED






































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FERNACRE PROPERTY LIMITED
 


 
COMPANY INFORMATION


Director
Mr A D Frost 




Company secretary
Mrs N E Frost



Registered number
4205979



Registered office
Malmesbury House
227 Shirley Road

Shirley

Southampton

Hampshire

SO1 3HT




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
Allied Irish Bank
14 The Avenue

Southampton

Hampshire

SO17 1XF





 


FERNACRE PROPERTY LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


FERNACRE PROPERTY LIMITED
REGISTERED NUMBER:4205979



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
18,242
24,323

Investment property
 4 
1,600,000
1,600,000

  
1,618,242
1,624,323

Current assets
  

Debtors: amounts falling due within one year
 5 
197,674
52,279

Cash at bank and in hand
  
92,550
168,766

  
290,224
221,045

Creditors: amounts falling due within one year
 6 
(58,739)
(61,139)

Net current assets
  
 
 
231,485
 
 
159,906

Total assets less current liabilities
  
1,849,727
1,784,229

Provisions for liabilities
  

Deferred tax
  
(7,027)
(8,430)

  
 
 
(7,027)
 
 
(8,430)

Net assets
  
1,842,700
1,775,799

Page 1

 


FERNACRE PROPERTY LIMITED
REGISTERED NUMBER:4205979


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,842,600
1,775,699

  
1,842,700
1,775,799


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr A D Frost
Director

Date: 23 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


FERNACRE PROPERTY LIMITED
 


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

1.


General information

Fernacre Property Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Investment properties
-
Not depreciated
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures & fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 


FERNACRE PROPERTY LIMITED
 


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

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 


FERNACRE PROPERTY LIMITED
 


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

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Tangible fixed assets





Plant and machinery
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 May 2023
43,289
1,195
44,484



At 30 April 2024

43,289
1,195
44,484



Depreciation


At 1 May 2023
18,981
1,180
20,161


Charge for the year on owned assets
6,077
4
6,081



At 30 April 2024

25,058
1,184
26,242



Net book value



At 30 April 2024
18,231
11
18,242



At 30 April 2023
24,308
15
24,323

Page 5

 


FERNACRE PROPERTY LIMITED
 


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

4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
1,600,000



At 30 April 2024
1,600,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




Page 6

 


FERNACRE PROPERTY LIMITED
 


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

5.


Debtors

2024
2023
£
£


Trade debtors
39,854
48,698

Other debtors
154,583
-

Prepayments and accrued income
3,237
3,581

197,674
52,279



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
721

Corporation tax
20,537
28,772

Other taxation and social security
11,801
5,419

Other creditors
4,674
4,500

Accruals and deferred income
21,727
21,727

58,739
61,139











7.


Transactions with the director

At the year end the company was owed £154,583 (2023: £Nil) by the director. This loan is undated and unsecured. Interest is being charged on the balance at HMRC's official rate of interest on a daily basis.

 
Page 7