Registered number
14659369
Fairfax Education Recruitment Ltd
Filleted Accounts
31 March 2024
Fairfax Education Recruitment Ltd
Registered number: 14659369
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Intangible assets 3 16,334
16,334
Current assets
Debtors 4 111,668
Cash at bank and in hand 72,734
184,402
Creditors: amounts falling due within one year 5 (166,696)
Net current assets 17,706
Total assets less current liabilities 34,040
Net assets 34,040
Capital and reserves
Called up share capital 1
Profit and loss account 34,039
Shareholder's funds 34,040
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.
A.J. Fairfax
Director
Approved by the board on 7 November 2024
Fairfax Education Recruitment Ltd
Notes to the Accounts
for the period from 13 February 2023 to 31 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024
Number
Average number of persons employed by the company 45
3 Intangible fixed assets £
Goodwill and customer agreements:
Cost
Additions 20,417
At 31 March 2024 20,417
Amortisation
Provided during the period 4,083
At 31 March 2024 4,083
Net book value
At 31 March 2024 16,334
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Debtors 2024
£
Trade debtors 111,668
111,668
5 Creditors: amounts falling due within one year 2024
£
Accruals 1,200
Directors loan account 19,515
Trade creditors 558
Invoice factoring 54,240
Taxation and social security costs 88,412
Other creditors 2,771
166,696
6 Controlling party
The ultimate controlling party is A.J. Fairfax who is the sole director and shareholder.
7 Other information
Fairfax Education Recruitment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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