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REGISTERED NUMBER: OC433774 (England and Wales)









FERNIHOUGH HAY LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






FERNIHOUGH HAY LLP (REGISTERED NUMBER: OC433774)






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




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FERNIHOUGH HAY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DESIGNATED MEMBERS: P R Fernihough
M A Fernihough
S Hay





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX





REGISTERED NUMBER: OC433774 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

FERNIHOUGH HAY LLP (REGISTERED NUMBER: OC433774)

ABRIDGED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 7,369 9,141
Investment property 6 643,278 642,621
650,647 651,762

CURRENT ASSETS
Debtors 23,238 57,387
Cash at bank 26,989 65,212
50,227 122,599
CREDITORS
Amounts falling due within one year 41,756 89,395
NET CURRENT ASSETS 8,471 33,204
TOTAL ASSETS LESS CURRENT LIABILITIES 659,118 684,966

CREDITORS
Amounts falling due after more than one year 7 400,005 408,809
NET ASSETS ATTRIBUTABLE TO MEMBERS 259,113 276,157

LOANS AND OTHER DEBTS DUE TO MEMBERS 259,113 276,157

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 259,113 276,157
Amounts due from members (7,774 ) (21,687 )
251,339 254,470

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

FERNIHOUGH HAY LLP (REGISTERED NUMBER: OC433774)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2025 and were signed by:





M A Fernihough - Designated member

FERNIHOUGH HAY LLP (REGISTERED NUMBER: OC433774)

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

1. STATUTORY INFORMATION

Fernihough Hay LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

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.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2023 - 3 ) .

FERNIHOUGH HAY LLP (REGISTERED NUMBER: OC433774)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 13,979
DEPRECIATION
At 1 May 2023 4,838
Charge for year 1,772
At 30 April 2024 6,610
NET BOOK VALUE
At 30 April 2024 7,369
At 30 April 2023 9,141

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 642,621
Additions 657
At 30 April 2024 643,278
NET BOOK VALUE
At 30 April 2024 643,278
At 30 April 2023 642,621

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 373,488 408,809

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 405,217 408,809

The bank loan is secured over the property in which it relates to, along with a fixed and floating charge over the company's assets.