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REGISTERED NUMBER: 03259687 (England and Wales)







Financial Statements

for the Year Ended 31 March 2024

for

FPA Consulting Limited

FPA Consulting Limited (Registered number: 03259687)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FPA Consulting Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J E Barke
Mr I J Coates



SECRETARY: Mr J E Barke



REGISTERED OFFICE: 1 St Andrew's House
Vernon Gate
Derby
DE1 1UJ



REGISTERED NUMBER: 03259687 (England and Wales)



AUDITORS: Mabe Allen LLP
Chartered Accountants
Statutory Auditors
50 Osmaston Road
Derby
DE1 2HU



BANKERS: National Westminster Bank Plc
58 St Peter's Street
Derby
Derbyshire
DE1 1XL

FPA Consulting Limited (Registered number: 03259687)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 438,128 430,931

CURRENT ASSETS
Debtors 5 328,216 214,925
Cash at bank 1,831,483 1,983,314
2,159,699 2,198,239
CREDITORS
Amounts falling due within one year 6 443,512 511,834
NET CURRENT ASSETS 1,716,187 1,686,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,154,315

2,117,336

PROVISIONS FOR LIABILITIES 8 9,163 10,728
NET ASSETS 2,145,152 2,106,608

CAPITAL AND RESERVES
Called up share capital 9 23,859 24,550
Revaluation reserve 10 240,749 221,549
Capital redemption reserve 32,141 31,450
Retained earnings 1,848,403 1,829,059
SHAREHOLDERS' FUNDS 2,145,152 2,106,608

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2024 and were signed on its behalf by:





Mr J E Barke - Director


FPA Consulting Limited (Registered number: 03259687)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

FPA Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statement requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements have had the most significant effect on amounts recognised in the financial statements:-

Revaluation of land and buildings

The company carries its land and buildings at fair value with changes in fair value being recognised in comprehensive income. The current valuation used the most recent valuation report prepared by independent valuation specialists to determine fair value at 31 March 2024. The valuer made the assumption that the premises are in good repair and condition with no significant defect that would impact on the valuation. The valuer used a valuation technique which took account of the estimate of fair maintainable turnover and the marketability of the property. The determined fair value of the property is most sensitive to the estimated yield as well as the long term vacancy rate. The valuer has also taken into account the increase in interest rates, since the previous valuation took place, and the resulting impact these have on the economic environment in the UK as well as the commercial property market in general.

Income Recognition

The company assesses contract progress and determines the proportion of contract work completed at the balance sheet date in relation to the total contract works. The policy requires forecasts to be made on the projected outcomes of projects. These forecasts require assessments and judgements to be made on matters including the measurement and timing of revenue recognition. While the assumptions made are based on professional judgements, subsequent events may mean that estimates calculated prove to be inaccurate with a consequent effect on the reported results.

In respect of commissions received, management considers that the following factors indicate that the company acts as an agent:
- The company has no significant responsibility in respect of the services provided, and;
- All credit risk is borne by the supplier of the services, and;
- The company cannot vary the selling prices set by the supplier.

FPA Consulting Limited (Registered number: 03259687)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Revenue
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided to third parties in the normal course of business net of discounts, VAT and other sales related taxes. Revenue from services is recognised when services have been provided and the right to consideration has been earned. If services have been provided to third parties but no billing has been made, estimates are made of the amounts receivable. These estimates are based on the nature of the services supplied and contract terms.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Freehold Buildings2% per annum of valuation
Office Equipment33 1/3% per annum of cost
Computers33 1/3% per annum of cost
Fixtures and Fittings33 1/3% per annum of cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that the outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FPA Consulting Limited (Registered number: 03259687)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account in other administrative expenses.

Leasing
Rentals payable under operating leases are charged to the Profit and Loss Account on a straight line basis over the period of the lease.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 420,000 10,281 31,352 195,817 657,450
Additions - - - 8,717 8,717
At 31 March 2024 420,000 10,281 31,352 204,534 666,167
DEPRECIATION
At 1 April 2023 12,800 10,281 31,352 172,086 226,519
Charge for year 6,400 - - 14,320 20,720
Revaluation adjustments (19,200 ) - - - (19,200 )
At 31 March 2024 - 10,281 31,352 186,406 228,039
NET BOOK VALUE
At 31 March 2024 420,000 - - 18,128 438,128
At 31 March 2023 407,200 - - 23,731 430,931

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

FPA Consulting Limited (Registered number: 03259687)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Office and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
Valuation in 2002 55,048 - - - 55,048
Valuation in 2006 145,000 - - - 145,000
Valuation in 2013 (110,000 ) - - - (110,000 )
Valuation in 2021 (30,000 ) - - - (30,000 )
Cost 359,952 10,281 31,352 204,534 606,119
420,000 10,281 31,352 204,534 666,167

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 359,952 359,952
Aggregate depreciation 57,189 51,990

Freehold land and buildings were valued on the open market value basis on 31 March 2024 by Milner Commercial Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 242,738 164,187
Other debtors 1,509 1,509
Prepayments and accrued income 83,969 49,229
328,216 214,925

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,442 27,362
Corporation tax 62,425 48,110
Social security and other taxes 78,139 62,485
Other creditors 197,773 298,682
Accruals 78,733 75,195
443,512 511,834

FPA Consulting Limited (Registered number: 03259687)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 4,228 4,348

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated Capital Allowances 9,163 10,728

Deferred
tax
£   
Balance at 1 April 2023 10,728
Credit to Income Statement during year (1,565 )
Balance at 31 March 2024 9,163

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
26,500 Ordinary £1 23,859 24,550

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 221,549
Surplus on revaluation 19,200

At 31 March 2024 240,749

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Higgins FCCA (Senior Statutory Auditor)
for and on behalf of Mabe Allen LLP

FPA Consulting Limited (Registered number: 03259687)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. FIXED ASSET INVESTMENTS

The company's investments at the balance sheet date in the share capital of companies include the following:

The Company is the Holding Company of First Procurement Limited, First Quality Solutions Limited, First Procurement Associates Limited and First Energy Solutions Limited, registered in England and Wales, all of which are Dormant and are carried at a value of £nil.