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Registered number: 07939103 FS FERMAINE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 28 FEBRUARY 2025
FS FERMAINE LIMITED REGISTERED NUMBER: 07939103 BALANCE SHEET AS AT 28 FEBRUARY 2025
|  | 28 February |  | 29 February
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 4,776 |  | 6,448
Investments | 5 |  | 50 |  | 50
|  |  | 4,826 |  | 6,498
Current assets |  |  |  |  |
Stocks |  | 7,000 |  | - |
Debtors: amounts falling due within one year | 6 | 2,559,950 |  | 2,205,020 |
Cash at bank and in hand |  | 6,997 |  | 15,663 |
|  | 2,573,947 |  | 2,220,683 |
Creditors: amounts falling due within one year | 7 | (1,496,486) |  | (1,182,932) |
Net current assets |  |  | 1,077,461 |  | 1,037,751
Total assets less current liabilities |  |  | 1,082,287 |  | 1,044,249
Creditors: amounts falling due after more than one year | 8 |  | (7,241) |  | (16,667)
Net assets |  |  | 1,075,046 |  | 1,027,582
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 300 |  | 300
Profit and loss account |  |  | 1,074,746 |  | 1,027,282
|  |  | 1,075,046 |  | 1,027,582
Page 1
FS FERMAINE LIMITED REGISTERED NUMBER: 07939103 BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 November 2025.
N M Guy
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
FS FERMAINE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1. | General information
FS Fermaine 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. The presentation currency of the financial statements is the Pound Sterling (£). 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Page 3
FS FERMAINE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 10% |
|  |  |  | Fixtures and fittings | - | 20% |
|  |  |  | Office equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
FS FERMAINE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 March 2024 | 7,200 | 3,143 | 5,073 | 15,416
| At 28 February 2025 | 7,200 | 3,143 | 5,073 | 15,416
| Depreciation |  |  |  |
| At 1 March 2024 | 2,160 | 2,959 | 3,847 | 8,966
| Charge for the year on owned assets | 720 | 92 | 862 | 1,674
| At 28 February 2025 | 2,880 | 3,051 | 4,709 | 10,640
| Net book value |  |  |  |
| At 28 February 2025 | 4,320 | 92 | 364 | 4,776
| At 29 February 2024 | 5,040 | 184 | 1,226 | 6,450
Page 5
FS FERMAINE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
5. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 March 2024 | 50
| At 28 February 2025 | 50
| The £50 investment represents 50% holding in Hagley Homes Limited, company number: 09893246.
6. | Debtors
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 25,000 | 360,000
| Other debtors | 2,534,950 | 1,845,020
|  | 2,559,950 | 2,205,020
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 10,000 | 10,000
| Corporation tax | 17,116 | 61,354
| Other taxation and social security | 3,250 | 63,368
| Other creditors | 1,464,070 | 1,044,542
| Accruals and deferred income | 2,050 | 3,668
|  | 1,496,486 | 1,182,932
Page 6
FS FERMAINE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 7,241 | 16,667
|  | 7,241 | 16,667
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 10,000 | 10,000
|  | 10,000 | 10,000
| Amounts falling due 1-2 years |  |
| Bank loans | 7,242 | 10,000
|  | 7,242 | 10,000
| Amounts falling due after more than 5 years |  |
| Bank loans | - | 6,668
|  | - | 6,668
|  | 17,242 | 26,668
10. | Share capital
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 300 (2024 - 300) Ordinary A shares shares of £1.00 each | 300 | 300
Page 7
FS FERMAINE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
11. | Related party transactions
| The amount due to and from related parties are as follows: FSC Consulting Limited: £nil (2024: £1,012,157) included within other creditors. Hagley Homes Limited: £2,530,019 (2024: £1,840,019) included within other debtors. Hagley Homes Limited: £nil (2024: £360,000) included within trade creditors. The above companies are related by virtue of the fact that N M Guy is a director in the above companies. Amounts due to directors included in other creditors amounted to £1,305,514 (2024: £32,385).
12. | Controlling party
The ultimate controlling party are the directors by virtue of their shareholding.
Page 8