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Company registration number:
02729256
FERNSOFT LIMITED
Unaudited Financial Statements for the year ended
31 December 2024
FERNSOFT LIMITED
Officers and Professional Advisers
Year ended
31 December 2024
Director
Sean Campbell
Registered office
4 Fernsoft Owens Road
Skippers Lane Industrial Estate
Middlesbrough
TS6 6HE
United Kingdom
Accountant
DP Associates (Accountancy) Limited
Long Barn
Ashwell Park
Ilminster
Somerset
TA19 9DX
United Kingdom
FERNSOFT LIMITED
Director's Report
Year ended
31 December 2024
The director presents the report and the unaudited
financial statements
of the company for the year ended 31 December 2024.

Directors

The director who served the company during the year was as follows:
Sean Campbell

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
24 September 2025
and signed on behalf of the board by:
Sean Campbell
Director
FERNSOFT LIMITED
Report to the board of directors on the preparation of the unaudited statutory financial statements of FERNSOFT LIMITED
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
FERNSOFT LIMITED
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
DP Associates (Accountancy) Limited
Long Barn
Ashwell Park
Ilminster
Somerset
TA19 9DX
United Kingdom
FERNSOFT LIMITED
Income Statement
Year ended
31 December 2024
20242023
££
Turnover
107,059
 
32,176
 
Cost of sales
(4,065
 ) (25,955 )
Gross profit
102,994
 
6,221
 
Distribution costs
(4,867
 )
(4,163
 )
Administrative expenses
(45,492
 )
(38,414
 )
Operating profit/(loss)
52,635
 
(36,356
 )
Other interest receivable and similar income -  
50,003
 
Interest payable and similar expenses
(64
 )
(12,385
 )
Profit before tax
52,571
 
1,262
 
Tax on profit -   -  
Profit for the financial year
52,571
 
1,262
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
FERNSOFT LIMITED
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Intangible assets 5
8,000
 
8,000
 
Tangible assets 6 -  
394
 
Investments 7
677,546
 
677,546
 
685,546
 
685,940
 
Current assets    
Stocks
85,972
 
85,972
 
Debtors 8
358,332
 
330,195
 
Cash at bank and in hand
19,179
  -  
463,483
 
416,167
 
Creditors: amounts falling due within one year 9
(446,658
 )
(444,556
 )
Net current assets/(liabilities)
16,825
 
(28,389
 )
Total assets less current liabilities 702,371   657,551  
Creditors: amounts falling due after more than one year 10
(1,171,105
 )
(1,178,856
 )
Net liabilities
(468,734
 )
(521,305
 )
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(468,834
 )
(521,405
 )
Shareholders deficit
(468,734
 )
(521,305
 )
For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
24 September 2025
, and are signed on behalf of the board by:
Sean Campbell
Director
Company registration number:
02729256
FERNSOFT LIMITED
Statement of Changes in Equity
Year ended
31 December 2024
Called up share capitalProfit and loss accountTotal
£££
At 1 January 2023 -  
(522,667
 )
(522,667
 )
Profit for the year- 1,262 1,262 
Total comprehensive income for the year- 
1,262
 
1,262
 
Issue of shares
100
 - 
100
 
Total investments by and distributions to owners
100
 - 
100
 
At 31 December 2023 and 
1 January 2024
100
 
(521,405
)
(521,305
)
Profit for the year- 52,571 52,571 
Total comprehensive income for the year- 
52,571
 
52,571
 
At
31 December 2024
100
 
(468,834
)
(468,734
)
FERNSOFT LIMITED
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
4 Fernsoft Owens Road
,
Skippers Lane Industrial Estate
,
Middlesbrough
,
TS6 6HE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Intangible assets

Goodwill
£
Cost  
At
1 January 2024
and
31 December 2024
8,000
 
Amortisation  
At
1 January 2024
and
31 December 2024
 -  
Carrying amount  
At
31 December 2024
8,000
 
At 31 December 2023
8,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2024
and
31 December 2024
1,576
 
Depreciation  
At
1 January 2024
1,182
 
Charge
394
 
At
31 December 2024
1,576
 
Carrying amount  
At
31 December 2024
 -  
At 31 December 2023
394
 

7 Investments

Other investments
£
Cost  
At
1 January 2024
677,546
 
At
31 December 2024
677,546
 
Impairment  
At
1 January 2024
and
31 December 2024
 -  
Carrying amount  
At
31 December 2024
677,546
 
At 31 December 2023
677,546
 

8 Debtors

20242023
££
Trade debtors
358,332
 
330,195
 

9 Creditors: amounts falling due within one year

20242023
££
Trade creditors
107,816
 
105,714
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
338,842
 
338,842
 
446,658
 
444,556
 

10 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
247,208
 
247,208
 
Other creditors
923,897
 
931,648
 
1,171,105
 
1,178,856