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REGISTERED NUMBER: 10548553 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

FATHOM FINANCIAL LIMITED

FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FATHOM FINANCIAL LIMITED

COMPANY INFORMATION
For The Year Ended 31st March 2024







DIRECTOR: Mr K A Moss





REGISTERED OFFICE: Prosperity House
1 Barnfield Road
Spennymoor
County Durham
DL16 6EB





REGISTERED NUMBER: 10548553 (England and Wales)





ACCOUNTANTS: CPT
Chartered Certified Accountants
80 Victoria Road
Darlington
County Durham
DL1 5JG

FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)

BALANCE SHEET
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 52,484 58,904
Tangible assets 5 20,702 21,633
73,186 80,537

CURRENT ASSETS
Debtors 6 1,645,356 1,568,108
Cash at bank and in hand 195,044 166,652
1,840,400 1,734,760
CREDITORS
Amounts falling due within one year 7 177,384 113,683
NET CURRENT ASSETS 1,663,016 1,621,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,736,202

1,701,614

CREDITORS
Amounts falling due after more than one
year

8

-

(27,500

)

PROVISIONS FOR LIABILITIES (2,280 ) (2,094 )
NET ASSETS 1,733,922 1,672,020

CAPITAL AND RESERVES
Called up share capital 9 4,000 4,000
Retained earnings 1,729,922 1,668,020
1,733,922 1,672,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)

BALANCE SHEET - continued
31st March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th December 2024 and were signed by:





Mr K A Moss - Director


FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31st March 2024

1. STATUTORY INFORMATION

Fathom Financial 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of business / client list, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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 equity shares.

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.


FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 64,198
AMORTISATION
At 1st April 2023 5,294
Charge for year 6,420
At 31st March 2024 11,714
NET BOOK VALUE
At 31st March 2024 52,484
At 31st March 2023 58,904

FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 20,881 2,827 2,101 25,809
DEPRECIATION
At 1st April 2023 1,567 1,245 1,364 4,176
Charge for year 417 237 277 931
At 31st March 2024 1,984 1,482 1,641 5,107
NET BOOK VALUE
At 31st March 2024 18,897 1,345 460 20,702
At 31st March 2023 19,314 1,582 737 21,633

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,185 3,650
Other debtors 1,623,046 1,491,260
Director's current account - 57,648
Prepayments 20,125 15,550
1,645,356 1,568,108

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 10,000
Trade creditors 384 384
Tax 86,000 97,763
Social security and other taxes 4,674 4,223
Other creditors 86,326 1,313
177,384 113,683

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 17,500
- 27,500

FATHOM FINANCIAL LIMITED (REGISTERED NUMBER: 10548553)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st March 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £
1720 Ordinary £1 1,720
1680 Ordinary A £1 1,680
200 Ordinary B £1 200
200 Ordinary C £1 200
200 Ordinary D £1 200

4,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
Mr M A Abley
Balance outstanding at start of year 57,648 -
Amounts repaid (57,648 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 57,648

11. RELATED PARTY DISCLOSURES

During the year, rental expenditure for the office of £16,875 (2023: £24,300) was paid to the property owner, a private pension scheme of a shareholder, Mr M A Abley. Total due at the year end was NIL (2023: £NIL).

Included in other debtors are amounts totalling £1,426,889 (2023: £1,429,018) owed from companies under the control of a shareholder, Mr M A Abley. There are no terms for repayment and no interest is accruing on the balances.

Also included in other debtors are amounts totalling £165,362 (2003: £115,295) owed from Mr M A Abley and Mrs C A Abley. These loans were repaid after the year end.