Company registration number 10052731 (England and Wales)
FERN SIDE HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FERN SIDE HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr Timothy Pellowe
Michael Pestereff
Ms S K Rydel
Secretary
Michael Pestereff
Company number
10052731
Registered office
Field Top
Moor Lane
Dobcross
Oldham
Lancashire
United Kingdom
OL3 5JP
Auditor
BK Plus Audit Limited
Sterling House
501 Middleton Road
Chadderton
Oldham
Lancashire
OL9 9LY
FERN SIDE HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group balance sheet
8
Company balance sheet
9
Group statement of changes in equity
10
Company statement of changes in equity
11
Group statement of cash flows
12
Notes to the financial statements
13 - 27
FERN SIDE HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

Although the Turnover and Profit of the trading business has declined from Covid levels, it is a satisfactory improvement based on pre Covid trends reflection a 15 year growth period in the development of the trading business. Profit Margins remain satisfactory as is liquidity in both the trading and holding companies in the Group.

Group profit before tax at £1.56m was only marginally down on the previous year, but that reflects a trading profit reduction and an increase of investment income. Taxation was higher in 2024 by £20k to give an after tax profit of £1,17m (2023 £ 1.20m).

Future Development

The higher inflation of the last 18 months has reduced and interest rates are on a downward trend which will affect investment income. The control of inflation and the government policy of higher personal taxation will reduce discretionary consumer spending. Every effort will be made to maintain our existing markets by the use of attractive and innovative new products and where possible new market areas will be developed.

The property portfolio will be further extended and developed as market conditions allow.

Principal risks and uncertainties

The change of administration in the USA has create global uncertainty. While we have no direct trade with the USA, the international markets have been disturbed and this may affect some of our raw material sources. All steps will be taken to minimise any implications for the Group. Concern and uncertainty amongst or customers may lead them to be cautious. All steps will be taken to minimise concerns that customers may have.

Whenever possible new markets for the company’s products will be explored.

The Directors are satisfied that the Group has resources to deal with normal business risks and uncertainties.

On behalf of the board

Michael Pestereff
Director
11 June 2025
FERN SIDE HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company and group continued to be that of manufacture of furniture and rental of investment properties.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr Timothy Pellowe
Michael Pestereff
Ms S K Rydel
Auditor

The auditor, BK Plus Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

FERN SIDE HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
On behalf of the board
Michael Pestereff
Director
11 June 2025
FERN SIDE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FERN SIDE HOLDINGS LIMITED
- 4 -
Opinion

We have audited the financial statements of Fern Side Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

FERN SIDE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF FERN SIDE HOLDINGS LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company, we identified that the principal risks of non-compliance related to those laws and regulations that have a direct impact on the financial statements including, but not limited to, the Companies Act 2006 and UK tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates. Appropriate audit procedures were therefore performed to address those risks including testing journal entries and challenging assumptions and judgements made by management in their significant accounting estimates. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forger or intentional misrepresentations, or through collusion.

FERN SIDE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF FERN SIDE HOLDINGS LIMITED
- 6 -

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

- E valuate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Dominic Huxley ACA (Senior Statutory Auditor)
For and on behalf of BK Plus Audit Limited, Statutory Auditor
Chartered Certified
Sterling House
501 Middleton Road
Chadderton
Oldham
Lancashire
OL9 9LY
11 June 2025
FERN SIDE HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
6,739,764
7,164,996
Cost of sales
(4,009,289)
(4,109,280)
Gross profit
2,730,475
3,055,716
Distribution costs
(496,801)
(476,512)
Administrative expenses
(1,096,549)
(1,160,298)
Other operating income
21,650
26,188
Operating profit
4
1,158,775
1,445,094
Interest receivable and similar income
8
405,897
128,308
Interest payable and similar expenses
9
(3,250)
(3,250)
Profit before taxation
1,561,422
1,570,152
Tax on profit
10
(395,280)
(374,220)
Profit for the financial year
25
1,166,142
1,195,932
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
FERN SIDE HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
2,395,474
2,417,368
Investment property
12
410,150
410,150
2,805,624
2,827,518
Current assets
Stocks
15
342,444
332,888
Debtors
16
1,365,264
1,177,518
Investments
17
7,518,904
6,110,791
Cash at bank and in hand
1,531,598
1,986,341
10,758,210
9,607,538
Creditors: amounts falling due within one year
18
(2,402,438)
(2,433,265)
Net current assets
8,355,772
7,174,273
Total assets less current liabilities
11,161,396
10,001,791
Creditors: amounts falling due after more than one year
19
(65,000)
(76,300)
Provisions for liabilities
Deferred tax liability
22
37,731
32,968
(37,731)
(32,968)
Net assets
11,058,665
9,892,523
Capital and reserves
Called up share capital
24
175,000
175,000
Other reserves
25
1
1
Profit and loss reserves
25
10,883,664
9,717,522
Total equity
11,058,665
9,892,523

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 11 June 2025 and are signed on its behalf by:
11 June 2025
Mr Timothy Pellowe
Director
Company registration number 10052731 (England and Wales)
FERN SIDE HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
2,090,419
2,090,419
Investment property
12
410,150
410,150
Investments
13
239,999
239,999
2,740,568
2,740,568
Current assets
Debtors
16
3,750
4,372
Investments
17
7,518,904
6,110,791
Cash at bank and in hand
156,385
200,763
7,679,039
6,315,926
Creditors: amounts falling due within one year
18
(1,351,813)
(1,450,674)
Net current assets
6,327,226
4,865,252
Total assets less current liabilities
9,067,794
7,605,820
Creditors: amounts falling due after more than one year
19
(65,000)
(65,000)
Net assets
9,002,794
7,540,820
Capital and reserves
Called up share capital
24
175,000
175,000
Profit and loss reserves
25
8,827,794
7,365,820
Total equity
9,002,794
7,540,820

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £1,461,974 (2023 - £1,295,059 profit).

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

The financial statements were approved by the board of directors and authorised for issue on 11 June 2025 and are signed on its behalf by:
11 June 2025
Mr Timothy Pellowe
Director
Company registration number 10052731 (England and Wales)
FERN SIDE HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
Share capital
Other reserves
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
175,000
1
8,521,590
8,696,591
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
1,195,932
1,195,932
Balance at 31 December 2023
175,000
1
9,717,522
9,892,523
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
1,166,142
1,166,142
Balance at 31 December 2024
175,000
1
10,883,664
11,058,665
FERN SIDE HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
175,000
6,070,760
6,245,760
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
1,295,060
1,295,060
Balance at 31 December 2023
175,000
7,365,820
7,540,820
Year ended 31 December 2024:
Profit and total comprehensive income
-
1,461,974
1,461,974
Balance at 31 December 2024
175,000
8,827,794
9,002,794
FERN SIDE HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
999,679
1,710,520
Interest paid
(3,250)
(3,250)
Income taxes paid
(346,870)
(509,372)
Net cash inflow from operating activities
649,559
1,197,898
Investing activities
Purchase of tangible fixed assets
(88,800)
(29,916)
Proceeds from disposal of tangible fixed assets
3,500
10,750
Purchase of investments
(1,408,113)
(4,110,791)
Interest received
405,897
128,308
Net cash used in investing activities
(1,087,516)
(4,001,649)
Financing activities
Payment of hire purchase obligations
(16,786)
(13,648)
Net cash used in financing activities
(16,786)
(13,648)
Net decrease in cash and cash equivalents
(454,743)
(2,817,399)
Cash and cash equivalents at beginning of year
1,986,341
4,803,740
Cash and cash equivalents at end of year
1,531,598
1,986,341
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
1
Accounting policies
Company information

Fern Side Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Field Top, Moor Lane, Dobcross, Oldham, Lancashire, United Kingdom, OL3 5JP.

The group consists of Fern Side Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Fern Side Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from provision of rental services is recognised by reference to the period of when the service has been provided.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Leasehold improvements
Straight line over lease
Plant and equipment
15% reducing balance
Fixtures and fittings
20% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Certain assets, included in Plant & Machinery, are depreciated at 20% straight line when the directors consider this to be a more appropriate policy.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.7
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 17 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the opinion of the directors there are no accounting estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of goods
6,739,764
7,164,996
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
6,433,912
6,832,911
Overseas
305,852
332,085
6,739,764
7,164,996
2024
2023
£
£
Other revenue
Interest income
405,897
128,308
Rental income arising from investment properties
21,650
26,188
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange (gains)/losses
(68)
10,596
Depreciation of owned tangible fixed assets
92,155
112,998
Depreciation of tangible fixed assets held under finance leases
11,971
2,608
Loss/(profit) on disposal of tangible fixed assets
3,068
(5,727)
Operating lease charges
121,082
124,570
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
2,625
2,500
Audit of the financial statements of the company's subsidiaries
12,802
12,996
15,427
15,496
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Production staff
53
54
-
-
Distribution staff
4
3
-
-
Administration staff
7
7
-
-
Management staff
1
1
-
-
Total
65
65
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,142,695
2,201,915
20,000
-
0
Social security costs
208,425
203,053
3,000
-
Pension costs
85,808
84,430
-
0
-
0
2,436,928
2,489,398
23,000
-
0
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
153,996
159,911
Company pension contributions to defined contribution schemes
40,000
40,000
193,996
199,911

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
30,071
6,002
Other interest income
375,826
122,306
Total income
405,897
128,308
9
Interest payable and similar expenses
2024
2023
£
£
Dividends paid on shares classed as debt
3,250
3,250
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
390,517
384,980
Deferred tax
Origination and reversal of timing differences
4,763
(10,760)
Total tax charge
395,280
374,220

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,561,422
1,570,152
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
390,356
392,538
Tax effect of expenses that are not deductible in determining taxable profit
1,816
1,975
Effect of change in corporation tax rate
-
(24,215)
Permanent capital allowances in excess of depreciation
3,108
3,922
Taxation charge
395,280
374,220
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
11
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
2,090,419
469,013
1,197,224
265,789
182,385
4,204,830
Additions
-
0
-
0
75,896
12,904
-
0
88,800
Disposals
-
0
-
0
(72,982)
-
0
-
0
(72,982)
At 31 December 2024
2,090,419
469,013
1,200,138
278,693
182,385
4,220,648
Depreciation and impairment
At 1 January 2024
-
0
427,560
1,065,117
244,396
50,389
1,787,462
Depreciation charged in the year
-
0
24,210
33,157
13,760
32,999
104,126
Eliminated in respect of disposals
-
0
-
0
(66,414)
-
0
-
0
(66,414)
At 31 December 2024
-
0
451,770
1,031,860
258,156
83,388
1,825,174
Carrying amount
At 31 December 2024
2,090,419
17,243
168,278
20,537
98,997
2,395,474
At 31 December 2023
2,090,419
41,453
132,107
21,393
131,996
2,417,368
Company
Freehold land and buildings
£
Cost
At 1 January 2024 and 31 December 2024
2,090,419
Depreciation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
2,090,419
At 31 December 2023
2,090,419

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Motor vehicles
35,912
39,125
-
0
-
0
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
12
Investment property
Group
Company
2024
2024
£
£
Fair value
At 1 January 2024 and 31 December 2024
410,150
410,150

Investment properties are recognised at fair value, being the original purchase cost. The directors do not believe that the fair value as at 31 December 2024 has changed since the purchase date.

13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
239,999
239,999
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024 and 31 December 2024
239,999
Carrying amount
At 31 December 2024
239,999
At 31 December 2023
239,999
14
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Artko Limited
The Birches, Park Road, Dukinfield, Cheshire, SK16 5LP
Ordinary
100.00
River Tame Properties Limited
26 Dobcroft Road, Sheffield, S7 2LR
Ordinary
100.00
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
342,444
332,888
-
0
-
0
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 24 -
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,154,458
966,337
3,750
1,122
Other debtors
-
1,925
-
0
3,250
Prepayments and accrued income
210,806
209,256
-
0
-
0
1,365,264
1,177,518
3,750
4,372
17
Current asset investments
Group
Company
2024
2023
2024
2023
£
£
£
£
Other investments
7,518,904
6,110,791
7,518,904
6,110,791
18
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under hire purchase
21
11,300
16,786
-
0
-
0
Trade creditors
423,222
279,026
30
-
0
Corporation tax payable
238,703
195,056
137,325
75,366
Other taxation and social security
280,530
234,365
8,400
8,750
Other creditors
1,223,813
1,419,975
1,147,249
1,338,499
Accruals and deferred income
224,870
288,057
58,809
28,059
2,402,438
2,433,265
1,351,813
1,450,674
19
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under hire purchase
21
-
0
11,300
-
0
-
0
Other borrowings
20
65,000
65,000
65,000
65,000
65,000
76,300
65,000
65,000
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
20
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Preference shares
65,000
65,000
65,000
65,000
Payable after one year
65,000
65,000
65,000
65,000

The preference shares, which are classified as a financial liability, are redeemable and have a coupon rate of 5%.

21
Hire purchase obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum payments due under hire purchase
Within one year
11,300
16,786
-
0
-
0
In two to five years
-
0
11,300
-
0
-
0
11,300
28,086
-
-

Hire purchase liabilities are secured on the related fixed asset.

22
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
37,731
32,968
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 January 2024
32,968
-
Charge to profit or loss
4,763
-
Liability at 31 December 2024
37,731
-
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22
Deferred taxation
(Continued)
- 26 -

23
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
85,808
84,430

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

24
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
175,000
175,000
175,000
175,000
2024
2023
2024
2023
Amounts presented in liabilities
Number
Number
£
£
Preference shares of £1 each
65,000
65,000
65,000
65,000
65,000
65,000
65,000
65,000
25
Reserves
Profit and loss reserves

Other reserve (Group) - This reserve is a non-distributable capital reserve arising on consolidation.

Profit and loss account - This reserve records retained earnings and accumulated losses.

26
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
120,000
113,000
-
-
120,000
113,000
-
-
FERN SIDE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
28
Directors' transactions

Group and Company

A t the year end the amount outstanding from the company to the director, Mr T Pellowe was £1,147,249 (202 3: £1,338,499). The balance is due on demand, unsecured and interest free.

29
Cash generated from group operations
2024
2023
£
£
Profit after taxation
1,166,142
1,195,932
Adjustments for:
Taxation charged
395,280
374,220
Finance costs
3,250
3,250
Investment income
(405,897)
(128,308)
Loss/(gain) on disposal of tangible fixed assets
3,068
(5,727)
Depreciation and impairment of tangible fixed assets
104,126
115,606
Movements in working capital:
(Increase)/decrease in stocks
(9,556)
37,998
(Increase)/decrease in debtors
(187,746)
319,698
Decrease in creditors
(68,988)
(202,149)
Cash generated from operations
999,679
1,710,520
30
Analysis of changes in net funds - group
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
1,986,341
(454,743)
1,531,598
Borrowings excluding overdrafts
(65,000)
-
(65,000)
Obligations under finance leases
(28,086)
16,786
(11,300)
1,893,255
(437,957)
1,455,298
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2023-12-31 10052731 core:MotorVehicles bus:Consolidated 2023-12-31 10052731 bus:Consolidated 2023-12-31 10052731 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 10052731 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-01-01 2024-12-31 10052731 core:LeaseholdImprovements bus:Consolidated 2024-01-01 2024-12-31 10052731 core:PlantMachinery bus:Consolidated 2024-01-01 2024-12-31 10052731 core:FurnitureFittings bus:Consolidated 2024-01-01 2024-12-31 10052731 core:MotorVehicles bus:Consolidated 2024-01-01 2024-12-31 10052731 core:MotorVehicles 2024-12-31 10052731 core:MotorVehicles 2023-12-31 10052731 core:Subsidiary1 2024-01-01 2024-12-31 10052731 core:Subsidiary2 2024-01-01 2024-12-31 10052731 core:Subsidiary1 1 2024-01-01 2024-12-31 10052731 core:Subsidiary2 2 2024-01-01 2024-12-31 10052731 core:CurrentFinancialInstruments 2024-12-31 10052731 core:CurrentFinancialInstruments 2023-12-31 10052731 core:CurrentFinancialInstruments bus:Consolidated 2024-12-31 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core:WithinOneYear bus:Consolidated 2024-12-31 10052731 core:WithinOneYear bus:Consolidated 2023-12-31 10052731 core:WithinOneYear 2024-12-31 10052731 core:WithinOneYear 2023-12-31 10052731 core:BetweenTwoFiveYears bus:Consolidated 2024-12-31 10052731 core:BetweenTwoFiveYears bus:Consolidated 2023-12-31 10052731 core:BetweenTwoFiveYears 2024-12-31 10052731 core:BetweenTwoFiveYears 2023-12-31 10052731 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10052731 bus:FRS102 2024-01-01 2024-12-31 10052731 bus:Audited 2024-01-01 2024-12-31 10052731 bus:ConsolidatedGroupCompanyAccounts 2024-01-01 2024-12-31 10052731 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP