ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

FERN HOUSE LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity22falsetrue 03476292 2023-01-01 2023-12-31 03476292 2022-01-01 2022-12-31 03476292 2023-12-31 03476292 2022-12-31 03476292 c:Director2 2023-01-01 2023-12-31 03476292 d:Buildings 2023-01-01 2023-12-31 03476292 d:Buildings 2023-12-31 03476292 d:Buildings 2022-12-31 03476292 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03476292 d:OfficeEquipment 2023-01-01 2023-12-31 03476292 d:OfficeEquipment 2023-12-31 03476292 d:OfficeEquipment 2022-12-31 03476292 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03476292 d:ComputerEquipment 2023-01-01 2023-12-31 03476292 d:ComputerEquipment 2023-12-31 03476292 d:ComputerEquipment 2022-12-31 03476292 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03476292 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03476292 d:CurrentFinancialInstruments 2023-12-31 03476292 d:CurrentFinancialInstruments 2022-12-31 03476292 d:Non-currentFinancialInstruments 2023-12-31 03476292 d:Non-currentFinancialInstruments 2022-12-31 03476292 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03476292 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03476292 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03476292 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03476292 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03476292 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03476292 d:ShareCapital 2023-12-31 03476292 d:ShareCapital 2022-12-31 03476292 d:RetainedEarningsAccumulatedLosses 2023-12-31 03476292 d:RetainedEarningsAccumulatedLosses 2022-12-31 03476292 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03476292 c:OrdinaryShareClass1 2022-01-01 2022-12-31 03476292 c:OrdinaryShareClass1 2023-12-31 03476292 c:OrdinaryShareClass1 2022-12-31 03476292 c:FRS102 2023-01-01 2023-12-31 03476292 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03476292 c:FullAccounts 2023-01-01 2023-12-31 03476292 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03476292 2 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03476292

FERN HOUSE LIMITED

UNAUDITED

ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

FERN HOUSE LIMITED

03476292

BALANCE SHEET

AS AT 31 DECEMBER 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		127,182		130,793
			127,182		130,793
Current assets
Debtors	5	161,726		176,742
Cash at bank and in hand		58,298		74,668
		220,024		251,410
Creditors: amounts falling due within one year	6	(3,850)		(6,809)
Net current assets			216,174		244,601
Total assets less current liabilities			343,356		375,394
Creditors: amounts falling due after more than one year	7		(465,000)		(465,000)

Net liabilities			(121,644)		(89,606)

Capital and reserves
Called up share capital	9	2	2
Profit and loss account		(121,646)	(89,608)
		(121,644)	(89,606)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 8 April 2024.

L Archer

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

FERN HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1.	General information

Fern House Limited (the company) is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office is disclosed on the company information page.
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 December 2023 (2022: year ended 31 December 2021).

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

EAs at the balance sheet date the company had net liabilities of £<> (2022: £89,606). The financial statements have been prepared on the going concern basis as the directors have confirmed their ongoing support to the company for at least the next 12 months after the approval of the accounts and will support the company with funds as necessary. The directors therefore believe the going concern basis to be the appropriate basis of preparation.nter text here regarding going concern basis...

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 2

FERN HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.4

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.

2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property	-	2% straight line
Office equipment	-	15% reducing balance
Computer equipment	-	50% 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.

2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022: 2).

Page 3

FERN HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

4.	Tangible fixed assets

	Freehold property	Equipment	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2023	146,304	23,888	3,299	173,491
At 31 December 2023	146,304	23,888	3,299	173,491
Depreciation
At 1 January 2023	20,072	19,327	3,299	42,698
Charge for the year on owned assets	2,926	685	-	3,611
At 31 December 2023	22,998	20,012	3,299	46,309
Net book value
At 31 December 2023	123,306	3,876	-	127,182
At 31 December 2022	126,232	4,561	-	130,793

Debtors

					2023	2022
					£	£


Trade debtors	1,126	2,100
Other debtors	160,600	174,642
	161,726	176,742

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Other taxation and social security	-	2,822
Other creditors	-	137
Accruals and deferred income	3,850	3,850
	3,850	6,809

Page 4

FERN HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

7.	Creditors: Amounts falling due after more than one year
		2023	2022
		£	£

Other loans	465,000	465,000
	465,000	465,000



Amounts falling due 2-5 years
Other loans	465,000	465,000

	465,000	465,000

9.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

2 (2021: 2) Ordinary shares of £1 each	2	2

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 £3,348 (2022: £3,889). Contributions totalling £nil (2022: £1,496) were payable to the fund at the balance sheet date and are included in creditors.

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