Fernhead Homes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02287867 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Fernhead Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Billings

C J Billings

R J Billings

S J Billings

SECRETARY:

S J Billings

REGISTERED OFFICE:

Gay Dawn Offices

Pennis Lane

Fawkham

Longfield

Kent

DA3 8LY

REGISTERED NUMBER:

02287867 (England and Wales)

FIXED ASSETS

Investment property

4

3,616,861

CURRENT ASSETS

Debtors

5

1,644,693

1,575,567

Cash at bank

15,876

850

1,660,569

1,576,417

CREDITORS

Amounts falling due within one year

6

192,711

168,564

NET CURRENT ASSETS

1,467,858

1,407,853

TOTAL ASSETS LESS CURRENT LIABILITIES

5,084,719

5,024,714

CREDITORS

Amounts falling due after more than one
year

7

(3,711

)

(11,816

)

PROVISIONS FOR LIABILITIES

8

(401,011

)

(401,011

)

NET ASSETS

4,679,997

4,611,887

CAPITAL AND RESERVES

Called up share capital

9

1,125,495

Fair value reserve

10

2,333,859

Retained earnings

10

1,220,643

1,152,533

SHAREHOLDERS' FUNDS

4,679,997

4,611,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A J Billings - Director

1.	STATUTORY INFORMATION

Fernhead Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rents receivable from properties excluding value added tax.

Investment property

The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The fair value at 31 December 2024 of the properties has been determined by the directors of the company. The directors have adopted a valuation model based upon a multiple of the gross rental income adjusted where appropriate for any individual property market considerations. The directors over-ride their valuation model where independent valuation specialists have been engaged.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

3,616,861

NET BOOK VALUE

At 31 December 2024

3,616,861

At 31 December 2023

3,616,861

Investment properties are stated in the balance sheet at their aggregate fair value based on valuations carried out at 31 December 2024 by the directors. If investment property had not been revalued it would have been included at the historical cost of £881,989 (2023- £ 881,989).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

1,644,693

1,575,567

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

8,112

Taxation and social security

114,897

116,645

Other creditors

69,702

43,807

192,711

168,564

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

3,711

11,816

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

Fair value adjustments-

revaluation of investment

property

401,011

Deferred

tax

£

Balance at 1 January 2024

401,011

Charge to income during year

Balance at 31 December 2024

401,011

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

803,925

Ordinary A

£1

803,925

160,785

Ordinary B

£1

160,785

Ordinary C

£1

160,785

1,125,495

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 January 2024

1,152,533

2,333,859

3,486,392

Profit for the year

68,110

At 31 December 2024

1,220,643

2,333,859

3,554,502

11.	CONTINGENT LIABILITIES

The company is a guarantor for guarantees provided to C Hoare & Co. for a maximum of £4,194,000 dated 26.11.2021 in respect of the bank borrowings of F. C. Stark Limited. The guarantees are supported by legal charges granted over the company's investment properties.

12.	RELATED PARTY DISCLOSURES

The directors have considered the relationships with parties with whom the company has materially transacted during the year and have classified the parties detailed below as parties under the significant influence of AJ, CJ, RJ and SJ Billings, directors and shareholders.

R. J. and D. E. Billings Limited

Summary of aggregated transactions with related parties for the year:

2024

2023

£

Net loans advanced to parties

66,815

557,305

Amounts owed by parties at year end

1,631,958

1,565,143

All amounts owed to or by related parties above are non-interest bearing.

13.	ULTIMATE CONTROLLING PARTY

There is no single controlling party.