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Registration number: 03446444

First Principles Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

First Principles Consulting Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

First Principles Consulting Limited

(Registration number: 03446444)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

755,067

656,658

Current assets

 

Cash at bank and in hand

 

108,275

109,535

Creditors: Amounts falling due within one year

5

(1,260)

(1,226)

Net current assets

 

107,015

108,309

Net assets

 

862,082

764,967

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

862,081

764,966

Shareholders' funds

 

862,082

764,967

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

.........................................
J Walden
Director

 

First Principles Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Hyatt Lodge
Long Walk
Chalfont St Giles
Buckinghamshire
HP8 4AW

These financial statements were authorised for issue by the Board on 10 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.

Investments

The company holds investments in an investment fund. The investments are measured at market value at the year end with the change in market value being recognised in the profit and loss account.

 

First Principles Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification

Financial instruments are classified on initial recognition as either basic or more complex under sections 11 and 12 of FRS 102. To date, the company has only entered into transactions involving basic financial instruments.

 Recognition and measurement
Financial assets are initially measured at cost (including transaction costs) and are subsequantley measured at fair value with changes in fair value recognised in the profit and loss account.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2023

656,658

656,658

Fair value adjustments

81,956

81,956

Additions

16,453

16,453

At 31 October 2024

755,067

755,067

Carrying amount

At 31 October 2024

755,067

755,067

 

First Principles Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,200

1,200

Other creditors

60

26

1,260

1,226

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1