Company No: 07069179 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

I D Fern

REGISTERED OFFICE	Tutsham Farm
	West Farleigh
	Kent
	ME15 0NE
	United Kingdom

COMPANY NUMBER

07069179 (England and Wales)

ACCOUNTANT	S&W Partners (South East) Limited
	Brockbourne House
	77 Mount Ephraim
	Royal Tunbridge Wells
	TN4 8BS

	Note	2025		2024
		£		£
Current assets
Stocks	3	68,358		11,094
Debtors
- due within one year	4	1,375,301		843,604
- due after more than one year	4	171,816		161,412
Cash at bank and in hand	5	294,151		220,592
		1,909,626		1,236,702
Creditors: amounts falling due within one year	6	( 1,862,833)		( 1,437,846)
Net current assets/(liabilities)		46,793		(201,144)
Total assets less current liabilities		46,793		(201,144)
Net assets/(liabilities)		46,793		( 201,144)
Capital and reserves
Called-up share capital		1		1
Profit and loss account		46,792		( 201,145 )
Total shareholder's funds/(deficit)		46,793		( 201,144)

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Ferns Drylining Limited (registered number: 07069179) were approved and authorised for issue by the Director on 29 May 2026. They were signed on its behalf by:

I D Fern Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ferns Drylining Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Tutsham Farm, West Farleigh, Kent, ME15 0NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The principal activity of the Company is the drylining of walls.

The functional currency of Ferns Drylining Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

Going concern

The financial statements have been prepared on a going concern basis.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

The directors have assessed the Balance Sheet and forecasted cash flows covering a period of 12 months from the date of approval of these financial statements. The directors note that the Company has net assets of £46,793 (2024: net liabilities of £201,144). The Company is supported through loans from directors and companies under common control of the directors of the company. The directors have received a confirmation that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and that they will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Stocks

	2025		2024
	£		£
Stocks	68,358		11,094

4. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	1,155,260		527,170
Amounts owed by Group undertakings	55,024		55,024
Deferred tax asset	2,311		69,689
S455	32,421		32,421
Other debtors	130,285		159,300
	1,375,301		843,604
Debtors: amounts falling due after more than one year
Other debtors	171,816		161,412

5. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	294,151		220,592

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	345,694		162,259
Amounts owed to Group undertakings	11,686		106,603
Taxation and social security	25,184		53,753
Other creditors	1,480,269		1,115,231
	1,862,833		1,437,846

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	69,689		0
(Charged)/credited to the Statement of Income and Retained Earnings	( 67,378)		69,689
At the end of financial year	2,311		69,689

8. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Amounts owed to the director	182,065		182,065

During the year, amounts of £445,000 (2024: £Nil) were paid to the director and amounts of £445,000 (2024: £Nil) were received from the director. The loan is interest free, repayable on demand and is included within other creditors.

Other related party transactions

Amounts owed to a company under common control at the year-end were £11,686 (2024: £106,603). During the year, amounts of £895,248 were paid to the related company, and amounts of £800,331 were received from the related company.

Amounts owed from a company under common control at the year-end were £55,024 (2024: £55,024). During the year, no amounts (2024: £Nil) were paid to the related company, and no amounts (2024: £Nil) were received from the related company.

Both balances are interest free, repayable on demand and included within current debtors and current creditors accordingly.