Company Registration No. 12251283 (England and Wales)
FERNAO BUSINESS RESILIENCE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
FERNAO BUSINESS RESILIENCE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FERNAO BUSINESS RESILIENCE LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
774
Tangible assets
4
1,300
1,347
1,300
2,121
Current assets
Debtors
5
30,804
28,352
Cash at bank and in hand
41,951
7,542
72,755
35,894
Creditors: amounts falling due within one year
6
(83,832)
(31,421)
Net current (liabilities)/assets
(11,077)
4,473
Total assets less current liabilities
(9,777)
6,594
Provisions for liabilities
7
(404)
Net (liabilities)/assets
(9,777)
6,190
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(9,778)
6,189
Total equity
(9,777)
6,190
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered 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 25 July 2025 and are signed on its behalf by:
D F G Martin
Director
Company Registration No. 12251283
FERNAO BUSINESS RESILIENCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Fernao Business Resilience Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
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 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
During the year, the group of which the company is a part was acquired by VINCI Energies SA. The board of directors intend to transfer the trade assets and liabilities of the company to another company within the group. The directors then intend dissolve the company.
Therefore, the financial statements have been prepared on a basis other than going concern. Notwithstanding this, there are no material changes in the presentation of carrying values of the assets and liabilities.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
1.4
Intangible fixed assets other than goodwill
Trademarks are capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Trademark
10 years straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% straight line
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
FERNAO BUSINESS RESILIENCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.8
Financial instruments
The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 method 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.
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
1.10
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 when the company has 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.
FERNAO BUSINESS RESILIENCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
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 leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
2
2
3
Intangible fixed assets
Trademark
£
Cost
At 1 November 2023
1,290
Disposals
(1,290)
At 31 October 2024
Amortisation and impairment
At 1 November 2023
516
Amortisation charged for the year
129
Disposals
(645)
At 31 October 2024
Carrying amount
At 31 October 2024
At 31 October 2023
774
FERNAO BUSINESS RESILIENCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 November 2023
4,020
Additions
833
Disposals
(3,553)
At 31 October 2024
1,300
Depreciation and impairment
At 1 November 2023
2,673
Depreciation charged in the year
662
Eliminated in respect of disposals
(3,335)
At 31 October 2024
Carrying amount
At 31 October 2024
1,300
At 31 October 2023
1,347
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
19,887
Corporation tax recoverable
3,534
Amounts owed by group undertakings
7,802
Other debtors
3,113
1,807
Prepayments and accrued income
16,355
6,658
30,804
28,352
6
Creditors: amounts falling due within one year
2024
2023
£
£
Loans from parent undertakings
30,000
Trade creditors
234
13,929
Corporation tax
35
Other taxation and social security
35,654
Other creditors
1,539
335
Accruals
16,405
17,122
83,832
31,421
FERNAO BUSINESS RESILIENCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
404
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Emphasis of matter - financial statements prepared on a basis other than going concern
We draw attention to Note 1.2 of the financial statements which notes that it is the intention of the directors to transfer the trade, assets and liabilities of the company to another group member. Once the transfer of trade, assets and liabilities is complete the directors then intend to dissolve the company. The directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in respect of this matter.
The senior statutory auditor was Dean Stevens.
The auditor was HW Fisher Audit.
10
Parent company
The immediate parent company is Axians Business Resilience GmbH, a company incorporated in Germany with a registered office of Albin-Köbis-Straße 5, 51147 Köln, Germany.
The smallest group in which Fernao Business Resilience Ltd is consolidated is Axians Business Resilience GmbH, a company incorporated in the Germany with registered office of Albin-Köbis-Straße 5, 51147 Köln, Germany.
The ultimate parent company is VINCI Energies SA, a company incorporated in the France with registered office at 2169 Boulevard de la Défense, 92000 Nanterre, France. The results of the company for the year ended 31 October 2024 are included in the consolidated financial statements of VINCI Energies SA. These can be publicly accessed from the following link https://www.vinci.com/en/finance/results-and-key-figures/2024-annual-financial-statements.