ACCOUNTS - Final Accounts preparation

Registered number: 15491836

FERNITE ENGINEERING LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2025

FERNITE ENGINEERING LIMITED

REGISTERED NUMBER: 15491836

BALANCE SHEET

AS AT 31 AUGUST 2025

	2025	2025	2024	2024
Note	£	£	£	£

Fixed assets
Tangible assets	4		156		-
Investments			380,865		-
			381,021		-
Current assets
Stocks		15,509		-
Debtors: amounts falling due after more than one year	6	-		100
Debtors: amounts falling due within one year	6	75,392		-
Bank and cash balances		6,815		-
		97,716		100
Creditors: amounts falling due within one year	7	(100,314)		-
Net current (liabilities)/assets			(2,598)		100
Total assets less current liabilities			378,423		100
Creditors: amounts falling due after more than one year			(138,766)		-

Net assets			239,657		100

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		239,557	-
		239,657	100

FERNITE ENGINEERING LIMITED

REGISTERED NUMBER: 15491836

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2025

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 28 May 2026.

J Kitching

Director

The notes on page 3 form part of these financial statements.

FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Fernite Engineering Limited is a private limited company incorporated and domiciled in England. Its registered office is situated at 1 Orgreave Road, Sheffield S13 9LQ. Its principal place of business is at Westerby Road, Middlesbrough Industrial Estate, Middlesbrough TS3 8TD.

The pricipal activity of the company is the manufacture and resharpening of discs, cones, segments and blades for pulverizing mills and granulators.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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.

The following principal accounting policies have been applied:

2.2

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 the 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 Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Green Mill Industries Limited as at 31 August 2025 and these financial statements may be obtained from Companies House.

2.3

Going concern

The company relies on Fernite of Sheffield Limited, a fellow subsidiary of Green Mill Industries Limited, for financial support. The director of Fernite of Sheffield Limited has confirmed there is no intention to withdraw this support within the foreseeable future.

On the basis of his assessment of the company's financial position, the director has a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus, he continues to adopt the going concern basis of preparation of the financial statements. .

FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.4

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.6

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.

FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

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	-	20%	straight line
				Motor vehicles	-	20%	straight line

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.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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.

2.9

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.9

Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 5 (2024 - 1).

FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost or valuation
Additions	2,483	1,418	3,901
At 31 August 2025	2,483	1,418	3,901
Depreciation
Charge for the year on owned assets	2,327	1,418	3,745
At 31 August 2025	2,327	1,418	3,745
Net book value
At 31 August 2025	156	-	156
At 31 August 2024	-	-	-

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	380,865
	At 31 August 2025	380,865

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FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

6.	Debtors
		2025	2024
		£	£

Due after more than one year
Amounts owed by group undertakings	-	100

					2025	2024
					£	£

Due within one year
Trade debtors	71,989	-
Other debtors	793	-
Prepayments and accrued income	2,610	-
	75,392	-

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	25,647	-
Other taxation and social security	22,388	-
Other creditors	52,279	-
	100,314	-

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Amounts owed to group undertakings	138,766	-

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

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FERNITE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

10.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,956 (2024 - £NIL). Contributions totalling £1,713 (2024 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.

11.	Controlling party

The company is a wholly owned subsidiary of Green Mill Industries Limited, a company incorporated in England.

12.	Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2025 was unqualified.

The audit report was signed on 29 May 2026 by Jonathan Wilson FCA CTA (Senior statutory auditor) on behalf of Barnett & Turner Accountants Ltd.

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