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Registration number: 08645672

Fern IT Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Fern IT Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Fern IT Limited

(Registration number: 08645672)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

33,405

41,873

Current assets

 

Debtors

5

-

3,816

Cash at bank and in hand

 

79,072

51,491

 

79,072

55,307

Creditors: Amounts falling due within one year

6

(90,762)

(62,346)

Net current liabilities

 

(11,690)

(7,039)

Total assets less current liabilities

 

21,715

34,834

Creditors: Amounts falling due after more than one year

6

(13,313)

(23,964)

Provisions for liabilities

(8,352)

(8,793)

Net assets

 

50

2,077

Capital and reserves

 

Called up share capital

20

20

Retained earnings

30

2,057

Shareholders' funds

 

50

2,077

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

.........................................
Mr S Hannan
Director

 

Fern IT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales,value added tax and rebates.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax.

The current 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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Fern IT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Office equipment

33% on cost

Motor vehicles

20% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

Fern IT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

945

5,148

49,429

55,522

Additions

-

1,010

-

1,010

At 31 October 2024

945

6,158

49,429

56,532

Depreciation

At 1 November 2023

673

3,090

9,886

13,649

Charge for the year

68

1,501

7,909

9,478

At 31 October 2024

741

4,591

17,795

23,127

Carrying amount

At 31 October 2024

204

1,567

31,634

33,405

At 31 October 2023

272

2,058

39,543

41,873

5

Debtors

2024
£

2023
£

Other debtors

-

3,816

-

3,816

 

Fern IT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

HP and finance lease liabilities

10,651

10,651

Taxation and social security

 

54,309

24,168

Accruals and deferred income

 

12,533

12,515

Other creditors

 

13,269

15,012

 

90,762

62,346

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

HP and finance lease liabilities

13,313

23,964

Hire purchase contracts are secured against the assets to which they relate.