Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302025-05-28true2023-07-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04597622 2023-07-01 2024-06-30 04597622 2022-07-01 2023-06-30 04597622 2024-06-30 04597622 2023-06-30 04597622 c:Director3 2023-07-01 2024-06-30 04597622 d:MotorVehicles 2023-07-01 2024-06-30 04597622 d:MotorVehicles 2024-06-30 04597622 d:MotorVehicles 2023-06-30 04597622 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04597622 d:FreeholdInvestmentProperty 2023-07-01 2024-06-30 04597622 d:FreeholdInvestmentProperty 2024-06-30 04597622 d:FreeholdInvestmentProperty 2023-06-30 04597622 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 04597622 d:CurrentFinancialInstruments 2024-06-30 04597622 d:CurrentFinancialInstruments 2023-06-30 04597622 d:Non-currentFinancialInstruments 2024-06-30 04597622 d:Non-currentFinancialInstruments 2023-06-30 04597622 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04597622 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04597622 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 04597622 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04597622 d:ShareCapital 2024-06-30 04597622 d:ShareCapital 2023-06-30 04597622 d:RevaluationReserve 2024-06-30 04597622 d:RevaluationReserve 2023-06-30 04597622 d:MergerReserve 2024-06-30 04597622 d:MergerReserve 2023-06-30 04597622 d:RetainedEarningsAccumulatedLosses 2024-06-30 04597622 d:RetainedEarningsAccumulatedLosses 2023-06-30 04597622 c:FRS102 2023-07-01 2024-06-30 04597622 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04597622 c:FullAccounts 2023-07-01 2024-06-30 04597622 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04597622 2 2023-07-01 2024-06-30 04597622 5 2023-07-01 2024-06-30 04597622 6 2023-07-01 2024-06-30 04597622 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04597622 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04597622 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04597622










FERNBROOK INVESTMENTS (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
FERNBROOK INVESTMENTS (UK) LIMITED
REGISTERED NUMBER:04597622

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
72,463
84,989

Investments
 5 
100
100

Investment property
 6 
16,118,752
15,881,922

  
16,191,315
15,967,011

Current assets
  

Stocks
  
483,991
483,991

Debtors: amounts falling due within one year
 7 
404,748
333,634

Cash at bank and in hand
 8 
250,366
983,221

  
1,139,105
1,800,846

Creditors: amounts falling due within one year
 9 
(1,189,056)
(1,172,795)

Net current (liabilities)/assets
  
 
 
(49,951)
 
 
628,051

Total assets less current liabilities
  
16,141,364
16,595,062

Creditors: amounts falling due after more than one year
 10 
(6,276,431)
(7,265,470)

Provisions for liabilities
  

Deferred tax
 11 
(733,063)
(674,394)

  
 
 
(733,063)
 
 
(674,394)

Net assets
  
9,131,870
8,655,198


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Revaluation reserve
  
3,077,424
3,077,424

Merger reserve
  
758,645
758,645

Profit and loss account
  
5,285,801
4,809,129

  
9,131,870
8,655,198


Page 1

 
FERNBROOK INVESTMENTS (UK) LIMITED
REGISTERED NUMBER:04597622
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 directors acknowledge their 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: 






S A Cherry
Director

Date: 28 May 2025


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Fernbrook Investments (UK) Limited is a private company limited by shares, incorporated in England and Wales, registered number 04597622. The registered office and principal place of business is 158 Washbrook Road, Rushden, Northampton, NN10 6AA.

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

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%

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 4

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

Page 5

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 July 2023
92,630



At 30 June 2024

92,630



Depreciation


At 1 July 2023
7,641


Charge for the year
12,526



At 30 June 2024

20,167



Net book value



At 30 June 2024
72,463



At 30 June 2023
84,989

Page 6

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
100



At 30 June 2024
100





6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
15,881,922


Additions at cost
36,830


Surplus on revaluation
200,000



At 30 June 2024
16,118,752

The 2024 valuations were made by the directors, who are property developers, on an open market value for existing use basis.

The historical cost of the revalued assets is £12,422,321 (2023 - £12,385,491). Investment properties have not been depreciated.





7.


Debtors

2024
2023
£
£


Trade debtors
246,264
215,237

Other debtors
10
10

Prepayments and accrued income
158,474
118,387

404,748
333,634


Page 7

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
250,366
983,221



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
175,410

Trade creditors
26,449
38,403

Corporation tax
42,960
-

Other taxation and social security
61,584
33,589

Other creditors
28,822
22,822

Accruals and deferred income
1,029,241
902,571

1,189,056
1,172,795


Bank loans are secured against the assets to which they relate.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,412,642
4,420,560

Other creditors
1,863,789
2,844,910

6,276,431
7,265,470


Bank loans are secured against the assets to which they relate.
The bank loans all fall due for repayment within 5 years.

Page 8

 
FERNBROOK INVESTMENTS (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Deferred taxation




2024


£






At beginning of year
(674,394)


Charged to profit or loss
(58,669)



At end of year
(733,063)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(733,063)
(674,394)


12.


Related party transactions

Included in other creditors at the balance sheet date are amounts owed to directors of £1,601,143 (2023: £1,697,477). The loans from directors are  interest free and have no fixed repayment terms.

 
Page 9