Registered number
13514048
Fairmount Consulting Limited
Filleted Accounts
31 July 2024
Fairmount Consulting Limited
Registered number: 13514048
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 48,258 66,030
Current assets
Debtors 4 338,868 29,463
Cash at bank and in hand 429,021 282,422
767,889 311,885
Creditors: amounts falling due within one year 5 (176,062) (65,888)
Net current assets 591,827 245,997
Total assets less current liabilities 640,085 312,027
Creditors: amounts falling due after more than one year 6 (41,622) (55,227)
Provisions for liabilities (12,065) (12,546)
Net assets 586,398 244,254
Capital and reserves
Called up share capital 100 100
Profit and loss account 586,298 244,154
Shareholder's funds 586,398 244,254
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alastair Hawes
Director
Approved by the board on 9 October 2024
Fairmount Consulting Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2023 2,833 76,877 79,710
Additions 916 - 916
At 31 July 2024 3,749 76,877 80,626
Depreciation
At 1 August 2023 867 12,813 13,680
Charge for the year 750 17,938 18,688
At 31 July 2024 1,617 30,751 32,368
Net book value
At 31 July 2024 2,132 46,126 48,258
At 31 July 2023 1,966 64,064 66,030
4 Debtors 2024 2023
£ £
Trade debtors 68,868 29,463
Amounts owed by group undertakings and undertakings in which the company has a participating interest 270,000 -
338,868 29,463
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 13,605 13,351
Taxation and social security costs 156,153 47,123
Other creditors 6,304 5,414
176,062 65,888
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 41,622 55,227
7 Related party transactions
Mr A Hawes is a director and shareholder of Fairmount Homes Limited. Fairmount Consulting Limited provided a loan to Fairmount Homes Limited. At the balance sheet date £270,000 (31/7/23,£0) is due from Fairmount Homes Limited.
8 Other information
Fairmount Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
39 South Hill
Godalming
GU7 1JT
Fairmount Consulting Limited 13514048 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Alastair Hawes No description of principal activity 13514048 2022-08-01 2023-07-31 13514048 core:WithinOneYear 2023-07-31 13514048 core:AfterOneYear 2023-07-31 13514048 core:ShareCapital 2023-07-31 13514048 core:RetainedEarningsAccumulatedLosses 2023-07-31 13514048 2023-08-01 2024-07-31 13514048 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13514048 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 13514048 bus:Director40 2023-08-01 2024-07-31 13514048 1 2023-08-01 2024-07-31 13514048 2 2023-08-01 2024-07-31 13514048 core:PlantMachinery 2023-08-01 2024-07-31 13514048 core:Vehicles 2023-08-01 2024-07-31 13514048 countries:England 2023-08-01 2024-07-31 13514048 bus:FRS102 2023-08-01 2024-07-31 13514048 bus:FilletedAccounts 2023-08-01 2024-07-31 13514048 2024-07-31 13514048 core:WithinOneYear 2024-07-31 13514048 core:AfterOneYear 2024-07-31 13514048 core:ShareCapital 2024-07-31 13514048 core:RetainedEarningsAccumulatedLosses 2024-07-31 13514048 core:PlantMachinery 2024-07-31 13514048 core:Vehicles 2024-07-31 13514048 2023-07-31 13514048 core:PlantMachinery 2023-07-31 13514048 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure