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FERNCROFT COLLECTION LTD

Registered Number
14939258
(England and Wales)

Unaudited Financial Statements for the Period ended
30 June 2024

FERNCROFT COLLECTION LTD
Company Information
for the period from 15 June 2023 to 30 June 2024

Director

BUGDEN, Michael Nicholas

Registered Address

Station Garage Paddock Wood Hop Pocket Lane
Paddock Wood
Tonbridge
TN12 6DQ

Registered Number

14939258 (England and Wales)
FERNCROFT COLLECTION LTD
Balance Sheet as at
30 June 2024

Notes

2024

£

£

Fixed assets
Tangible assets3933
933
Current assets
Stocks4304,708
Debtors3
Cash at bank and on hand90,370
395,081
Creditors amounts falling due within one year5(330,843)
Net current assets (liabilities)64,238
Total assets less current liabilities65,171
Provisions for liabilities6(233)
Net assets64,938
Capital and reserves
Called up share capital5,000
Profit and loss account59,938
Shareholders' funds64,938
The financial statements were approved and authorised for issue by the Director on 12 March 2025, and are signed on its behalf by:
BUGDEN, Michael Nicholas
Director
Registered Company No. 14939258
FERNCROFT COLLECTION LTD
Notes to the Financial Statements
for the period ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment4
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year0
3.Tangible fixed assets

Total

£
Cost or valuation
Additions1,166
At 30 June 241,166
Depreciation and impairment
Charge for year233
At 30 June 24233
Net book value
At 30 June 24933
At 14 June 23-
4.Stocks

2024

£
Finished goods304,708
Total304,708
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables749
Taxation and social security25,473
Other creditors303,622
Accrued liabilities and deferred income999
Total330,843
6.Provisions for liabilities

2024

£
Net deferred tax liability (asset)233
Total233
7.Share capital
Allotted, called up and paid £5,000