Fernhill Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00520143

Fernhill Estates Limited

Filleted Financial Statements

31 March 2025

Fernhill Estates Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Statement of changes in equity	3

Notes to the financial statements	4

Fernhill Estates Limited

Officers and Professional Advisers

The board of directors	Mr S Cornes
	Mr D Mullinder

Registered office	Fernhill Estate Office
	Fernhill Road
	Sutton
	Newport
	TF10 8DJ

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Bankers	Lloyds
	125 Colmore Row
	Birmingham
	B3 3SD

Fernhill Estates Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	3,723,008	3,500,298
Investments	6	59,878	60,518
		------------	------------
		3,782,886	3,560,816

Current assets

Stocks		500	500
Debtors	7	2,743,958	2,767,916
Cash at bank and in hand		81,686	310,234
		------------	------------
		2,826,144	3,078,650

Creditors: amounts falling due within one year	8	3,562,294	3,516,470
		------------	------------
Net current liabilities		736,150	437,820
		------------	------------
Total assets less current liabilities		3,046,736	3,122,996

Provisions	29,538	29,538
	------------	------------
Net assets	3,017,198	3,093,458
	------------	------------

Capital and reserves

Called up share capital	11	12,100	12,100
Revaluation reserve		927,886	927,886
Profit and loss account		2,077,212	2,153,472
		------------	------------
Shareholders funds		3,017,198	3,093,458
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

Mr D Mullinder

Director

Company registration number: 00520143

Fernhill Estates Limited

Statement of Changes in Equity

Year ended 31 March 2025

		Called up share capital	Revaluation reserve	Profit and loss account	Total
		£	£	£	£
At 1 April 2023		12,100	982,254	2,234,526	3,228,880

Loss for the year				( 81,054)	( 81,054)
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account	–	( 54,368)	–	( 54,368)
		--------	---------	------------	------------
Total comprehensive income for the year		–	( 54,368)	( 81,054)	( 135,422)

At 31 March 2024		12,100	927,886	2,153,472	3,093,458

Loss for the year				( 76,260)	( 76,260)
		--------	---------	------------	------------
Total comprehensive income for the year		–	–	( 76,260)	( 76,260)

		--------	---------	------------	------------
At 31 March 2025		12,100	927,886	2,077,212	3,017,198
		--------	---------	------------	------------

Fernhill Estates Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fernhill Estate Office, Fernhill Road, Sutton, Newport, TF10 8DJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been rounded to the nearest £1.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Solar farm	-	6 % straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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 stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. 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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 2 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Solar Farm	Total
	£	£	£	£	£
Cost
At 1 April 2024	3,470,094	27,456	18,515	–	3,516,065
Additions	29,117	–	1,408	201,428	231,953
	------------	--------	--------	---------	------------
At 31 March 2025	3,499,211	27,456	19,923	201,428	3,748,018
	------------	--------	--------	---------	------------
Depreciation
At 1 April 2024	–	8,174	7,593	–	15,767
Charge for the year	–	3,856	2,185	3,202	9,243
	------------	--------	--------	---------	------------
At 31 March 2025	–	12,030	9,778	3,202	25,010
	------------	--------	--------	---------	------------
Carrying amount
At 31 March 2025	3,499,211	15,426	10,145	198,226	3,723,008
	------------	--------	--------	---------	------------
At 31 March 2024	3,470,094	19,282	10,922	–	3,500,298
	------------	--------	--------	---------	------------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024	60,518
Revaluations	( 640)
	--------
At 31 March 2025	59,878
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	59,878
	--------
At 31 March 2024	60,518
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	7,292	7,263
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,703,051	2,753,286
Other debtors	33,615	7,367
	------------	------------
	2,743,958	2,767,916
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	69,150	25,891
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,485,438	3,485,044
Other creditors	7,706	5,535
	------------	------------
	3,562,294	3,516,470
	------------	------------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	29,538	29,538
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Revaluation of tangible assets	29,538	29,538
	--------	--------

10. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	59,878	60,518
	--------	--------

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	12,100	12,100	12,100	12,100
	--------	--------	--------	--------

12. Consolidated accounts

The ultimate parent company that produces consolidated accounts is Parkhill 2000 Limited whose registered office is Fernhill Estate Office, Fernhill Road, Sutton, Newport, Shropshire TF10 8DJ.

13. Charges on assets

At the balance sheet date there were various charges against the company assets in respect of Lloyds Bank delivered from October 2013 to April 2023.

Irwin Mitchell Trustees Limited has a fixed charge over the freehold land at Fernhill Farm, land on the south side of Wellington Road and the land on the south side at Lilleshall, dated 12/11/2019.

Irwin Mitchell Trustees Limited also has a fixed charge over the freehold land at The Paddock, Fernhill Road, dated 28/04/2023.

14. Other financial commitments

The company is party to an omnibus guarantee agreement dated 5 June 2025 between Lloyds Bank and connected parties.

15. Summary audit opinion

The auditor's report dated 8 December 2025 was unqualified .

The senior statutory auditor was Lyndsay Nicholson FCA , for and on behalf of Riverside Accountancy Lancaster Limited .

16. Related party transactions

Included within debtors are amounts due from connected parties of £2,853,051 (2024 - £2,754,594) Included within creditors is an amount due to connected parties of £3,485,438 (2024 - £3,485,044 )

17. Controlling party

The immediate parent company is Parkhill 2000 Limited , a company registered in England and Wales. The ultimate controlling party is the C Cornes Discretionary Trust.