General Information
FERNQUEST FINANCIAL PLANNING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08925070, registration address BLUE HILLS, LLANDEVAUD, NEWPORT, NP18 2AA.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
20% Reducing Balance
|
| Computer Equipment |
20% Reducing Balance
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
|
| 2. |
Staff Costs
|
2026
£ |
|
2025
£ |
| Wages and salaries |
90,257 |
|
57,867 |
| Social security costs |
1,598 |
|
- |
| Pension costs, defined contribution plan |
53,348 |
|
31,736 |
| Other staff costs |
2,412 |
|
1,683 |
|
147,615 |
|
91,286 |
|
|
|
|
|
Average number of employees during the year
|
Number
|
|
Number
|
| Sales |
3 |
|
3 |
|
3 |
|
3 |
|
| 3. |
Average number of employees
Average number of employees during the year was 3 (2025 : 3).
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Land and Buildings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2025 |
113,118 |
|
1,869 |
|
12,298 |
|
44,949 |
|
172,234 |
| Additions |
- |
|
935 |
|
2,698 |
|
- |
|
3,633 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2026 |
113,118 |
|
2,804 |
|
14,996 |
|
44,949 |
|
175,867 |
| Depreciation |
| At 01 April 2025 |
57,306 |
|
1,093 |
|
7,546 |
|
- |
|
65,945 |
| Charge for year |
13,953 |
|
258 |
|
1,437 |
|
- |
|
15,648 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2026 |
71,259 |
|
1,351 |
|
8,983 |
|
- |
|
81,593 |
| Net book values |
| Closing balance as at 31 March 2026 |
41,859 |
|
1,453 |
|
6,013 |
|
44,949 |
|
94,274 |
| Opening balance as at 01 April 2025 |
55,812 |
|
518 |
|
5,011 |
|
44,949 |
|
106,290 |
The net book value of Land and Buildings includes £ 44,949 (2025 £44,949) in respect of assets leased under finance leases or hire purchase contracts.
|
| 5. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Other Debtors |
293,300 |
|
267,066 |
| Other Debtors 1 |
10,305 |
|
22,839 |
|
303,605 |
|
289,905 |
|
| 6. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Bank Loans |
22,504 |
|
5,561 |
| Corporation Tax |
33,939 |
|
37,087 |
| PAYE & Social Security |
876 |
|
607 |
| Accruals |
4,867 |
|
4,339 |
| Directors' Current Accounts |
65 |
|
25 |
|
62,251 |
|
47,619 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2026
£ |
|
2025
£ |
| Bank Loans & Overdrafts |
- |
|
22,268 |
|
- |
|
22,268 |
|
3
|