Company registration number 01761074 (England and Wales)
FERNWOOD FUELS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
FERNWOOD FUELS LIMITED
COMPANY INFORMATION
Directors
C E H Holehouse
R P Holehouse
R Watt
Secretary
J Skinner
Company number
01761074
Registered office
Fernwood House
Fernwood Drive
Main Road
Watnall
Nottingham
NG16 1LA
Auditor
UHY Hacker Young
14 Park Row
Nottingham
NG1 6GR
FERNWOOD FUELS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 20
FERNWOOD FUELS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The directors present the strategic report for the year ended 30 September 2025.

Review of the business

Demand for coal has continued to decline during the current year and this trend has continued due to the ban on burning bituminous coal coming in in April 2023. The Company still trades bituminous coal in geographic regions where there is no ban. The Company continues to focus on sales of lower emission approved "Ready to Burn" manufactured solid fuels as a more environmentally friendly and sustainable form of home heating. There has been a continued focus on increasing premium product lines and enhancing higher margin sales in the year, such as pre-packed fuels. Sales volumes are very much determined by winter weather conditions, and in particular, sustained periods of cold weather.

The directors consider the KPIs for the business to be turnover and gross profit. Turnover decreased in the year by £781,632 (30%) to £1,799,780. Gross profit has also decreased slightly giving a gross profit margin of 18% compared to the previous year, which was 14%.

The position at the year end saw an increase in net assets of 1% from £2,619,792 to £2,646,088. Although the directors are happy with the performance of the business, it was decided that there will not be any distribution of retained profits in the year.

Principal risks and uncertainties

In common with many businesses in the energy sector, the results are influenced by the weather conditions and world prices for different forms of energy, which are outside of the company's control. All coal fired power stations are now closed as per Government Policy.

The directors continue to consider ways in which to diversity the business sin order to offer a unique selling point and achieve a higher margin of turnover.

Following the UK's exit from the EU, the directors are satisfied that the implications and impact that this may have upon the company are manageable and will not significantly impact of the performance of the company.

On behalf of the board

R P Holehouse
Director
20 January 2026
FERNWOOD FUELS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activity of the company is that of solid fuel distribution.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

C E H Holehouse
R P Holehouse
R Watt
Auditor

The auditor, UHY Hacker Young, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

FERNWOOD FUELS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
R P Holehouse
Director
20 January 2026
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FERNWOOD FUELS LIMITED
- 4 -
Opinion

We have audited the financial statements of Fernwood Fuels Limited (the 'company') for the year ended 30 September 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FERNWOOD FUELS LIMITED (CONTINUED)
- 5 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FERNWOOD FUELS LIMITED (CONTINUED)
- 6 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and profit.

Audit procedures performed included: review of correspondence with legal advisors, performing analytical procedures to identify any unusual or unexpected relationships, enquiries of management and testing of journals and evaluating whether there was evidence of bias by the Directors that represented a risk of material misstatement due to fraud, reviewing minutes of meetings of those charged with governance.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FERNWOOD FUELS LIMITED (CONTINUED)
- 7 -
David Allum
27 January 2026
Senior Statutory Auditor
For and on behalf of UHY Hacker Young
Chartered Accountants
FERNWOOD FUELS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
1,799,780
2,581,412
Cost of sales
(1,472,693)
(2,214,065)
Gross profit
327,087
367,347
Administrative expenses
(369,511)
(350,873)
Other operating income
77,138
8,773
Operating profit
3
34,714
25,247
Share of results of joint ventures
(308)
(308)
Interest receivable and similar income
7
740
1,632
Profit before taxation
35,146
26,571
Tax on profit
8
(8,850)
(6,440)
Profit for the financial year
26,296
20,131

The profit and loss account has been prepared on the basis that all operations are continuing operations.

FERNWOOD FUELS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
113,477
128,482
Investments
10
1
1
113,478
128,483
Current assets
Stocks
13
791,839
1,148,960
Debtors
14
2,670,682
3,167,481
Cash at bank and in hand
583,025
283,551
4,045,546
4,599,992
Creditors: amounts falling due within one year
15
(1,506,136)
(2,100,020)
Net current assets
2,539,410
2,499,972
Total assets less current liabilities
2,652,888
2,628,455
Provisions for liabilities
Deferred tax liability
16
6,800
8,663
(6,800)
(8,663)
Net assets
2,646,088
2,619,792
Capital and reserves
Called up share capital
18
20,000
20,000
Profit and loss reserves
2,626,088
2,599,792
Total equity
2,646,088
2,619,792
The financial statements were approved by the board of directors and authorised for issue on 20 January 2026 and are signed on its behalf by:
C E H Holehouse
Director
Company registration number 01761074 (England and Wales)
FERNWOOD FUELS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2023
20,000
2,579,661
2,599,661
Year ended 30 September 2024:
Profit and total comprehensive income
-
20,131
20,131
Balance at 30 September 2024
20,000
2,599,792
2,619,792
Year ended 30 September 2025:
Profit and total comprehensive income
-
26,296
26,296
Balance at 30 September 2025
20,000
2,626,088
2,646,088
FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
1
Accounting policies
Company information

Fernwood Fuels Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fernwood House, Fernwood Drive, Main Road, Watnall, Nottingham, NG16 1LA.

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- The requirements of Section 7 Statement of Cash Flows;

- The requirements of paragraph 33.7

Preparation of consolidated financial statements

The financial statements contain information about Fernwood Investments Limited as an individual company and do not contain consolidated financial information as the parent of the group. The company is exempt under Section 400 of the Companies Act 2006 from requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Fernwood Group Limited, Fernwood House, Fernwood Drive, Main Road, Watnall, Nottingham, NG16 1LA.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover, which is stated net of VAT, represents the amounts derived from the provision of goods and services within the company's ordinary activities and to the extent that there is a right to consideration.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for delivery of the goods.

Turnover from the provision of services is recognised by reference to agreed contract terms and upon the delivery of the service provided.

FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% on cost / 20% on cost
Fixtures and fittings
20% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Financial instruments
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using tax rates and laws that have been enacted or substantially enacted by the period end.

FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Deferred tax

Full provision is made for deferred tax liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

There were no judgements (apart from those involving estimates) that have been made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

- Carrying value of stocks

When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated future sales of goods for relate and usage consumables.

- Residual value and useful life of plant and equipment

Management established a reliable estimate of the residual value and estimated useful life of plant and equipment based on factors such as the expected use of the asset and contractual agreements to buy back the asset.

Further details are included in the tangible fixed assets note.

FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 15 -
3
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
(303)
-
0
Audit fees
7,500
7,250
Depreciation of owned tangible fixed assets
18,016
12,643
Profit on disposal of tangible fixed assets
(7,999)
-
Operating lease charges
-
169
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
7,500
7,250
5
Employees

The average monthly number of persons (excluding non-salaried directors) employed by the company during the year was:

2025
2024
Number
Number
Production
4
4
Sales
2
2
Total
6
6

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
244,112
247,068
Social security costs
26,244
30,626
Pension costs
7,692
7,410
278,048
285,104
FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
77,418
69,502
Company pension contributions to defined contribution schemes
3,171
3,044
80,589
72,546

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest receivable from group undertakings
740
1,632
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
10,713
-
0
Deferred tax
Origination and reversal of timing differences
(1,863)
6,440
Total tax charge
8,850
6,440
FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
8
Taxation
(Continued)
- 17 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
35,146
26,571
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
8,787
6,643
Tax effect of expenses that are not deductible in determining taxable profit
63
61
Group relief
-
0
(264)
Taxation charge for the year
8,850
6,440
9
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2024
1,129,943
44,081
74,000
1,248,024
Additions
-
0
-
0
33,612
33,612
Disposals
(304,054)
-
0
(23,501)
(327,555)
At 30 September 2025
825,889
44,081
84,111
954,081
Depreciation and impairment
At 1 October 2024
1,044,102
40,735
34,705
1,119,542
Depreciation charged in the year
3,860
972
13,184
18,016
Eliminated in respect of disposals
(273,454)
-
0
(23,500)
(296,954)
At 30 September 2025
774,508
41,707
24,389
840,604
Carrying amount
At 30 September 2025
51,381
2,374
59,722
113,477
At 30 September 2024
85,841
3,346
39,295
128,482
FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
10
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
11
1
1
11
Subsidiaries

Details of the company's subsidiaries at 30 September 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Ernest J. Henry Limited
Les Monmains Estate, La Hure Mare, Northside, Vale, Guernsey, GY3 5TZ
Ordinary
100.00
12
Joint ventures

Details of the company's joint ventures at 30 September 2025 are as follows:

Name of undertaking
Registered office
Interest
% Held
held
Direct
Gateway Fuels Limited
Fernwood House, Fernwood Drive, Watnall, Nottinghamshire, NG16 1LA
Ordinary
50.00

The latest set of financial statements are prepared to the year ended 31 March 2025. As at this date the aggregate capital and reserves were (£7,787) (2024 - (£7,171)) and the loss for the year was (£615) (2024 - (£615)).

13
Stocks
2025
2024
£
£
Finished goods and goods for resale
791,839
1,148,960
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
263,767
376,017
Amounts owed by group undertakings
2,314,486
2,651,842
Other debtors
84,306
133,583
Prepayments and accrued income
8,123
6,039
2,670,682
3,167,481
FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
15
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
324,037
730,282
Amounts owed to group undertakings
977,567
1,185,590
Corporation tax
10,713
-
0
Other taxation and social security
35,372
32,653
Other creditors
24,380
23,332
Accruals and deferred income
134,067
128,163
1,506,136
2,100,020
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
6,800
8,663
2025
Movements in the year:
£
Liability at 1 October 2024
8,663
Credit to profit or loss
(1,863)
Liability at 30 September 2025
6,800
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
7,692
7,410

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

FERNWOOD FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 20 -
18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
20,000
20,000
20,000
20,000
19
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with companies under common control:

2025
2024
£
£
Loan advances
-
0
500
Net amount due from related parties
17,446
16,051

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transaction with wholly owned subsidiaries within the group.

The company has made sales of £38.7k and purchases of £5.57k in the year with Fernwood Property, a company with directors in common. The company has also made sales of £13.4k with Meadow Agriculture Limited, a company with directors in common.

20
Ultimate controlling party

The ultimate parent undertaking is Fernwood Trading Group Limited. Fernwood Trading Group Limited is controlled by The Roger Holehouse 2005 Trust.

A copy of the parent company's financial statements can be obtained from Companies House, Crown Way, Maindy, Cardiff, CF4 3UZ.

The immediate parent company is Fernwood Investments Limited.

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