FERNBANK PROJECT LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC437205

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		1,081,033		1,081,033

			1,081,033		1,081,033
CURRENT ASSETS
Debtors	5	217,784		137,742
Cash at bank and in hand		169		40,141

		217,953		177,883
Creditors: Amounts Falling Due Within One Year	6	(307,453 )		(267,516 )

NET CURRENT ASSETS (LIABILITIES)			(89,500 )		(89,633 )

TOTAL ASSETS LESS CURRENT LIABILITIES			991,533		991,400

Creditors: Amounts Falling Due After More Than One Year	7		(1,062,276 )		(1,062,143 )

NET LIABILITIES ATTRIBUTABLE TO MEMBERS			(70,743 )		(70,743 )

REPRESENTED BY:
Equity
Members' other interests
Other reserves		(70,743)		(70,743)

			(70,743)		(70,743)

TOTAL MEMBERS' INTEREST
Amounts due from members			(180,970)		(139,841)
Members' other interests			(70,743)		(70,743)

			(251,713)		(210,584)

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FERNBANK PROJECT LLP

Balance Sheet (continued)

As At 30 April 2024

For the year ending 30 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Shlomo Shok

Designated Member

28/07/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

FERNBANK PROJECT LLP is a limited liability partnership, incorporated in England & Wales, registered number OC437205 . The Registered Office is Enterprise House, First Floor, 2 The Crest, London, NW4 2HN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

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 the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)

4. Investment Property

	2024
	£
Fair Value
As at 1 May 2023 and 30 April 2024	1,081,033

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FERNBANK PROJECT LLP

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	25	(13,268 )
Amounts due from members	180,970	139,841

	180,995	126,573
Due after more than one year
Other debtors	36,789	11,169

	217,784	137,742

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Other creditors	305,053	262,716
Accruals and deferred income	2,400	4,800

	307,453	267,516

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	1,062,276	1,062,143

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