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COMPANY REGISTRATION NUMBER: 12461792
Fairbank Consulting Limited
Filleted Unaudited Financial Statements
28 February 2025
Fairbank Consulting Limited
Statement of Financial Position
28 February 2025
2025
2024
Note
£
£
Fixed assets
Investments
4
5
5
Current assets
Debtors
5
70,761
Cash at bank and in hand
21,985
91,994
--------
--------
92,746
91,994
Creditors: amounts falling due within one year
6
8,407
26,605
--------
--------
Net current assets
84,339
65,389
--------
--------
Total assets less current liabilities
84,344
65,394
--------
--------
Net assets
84,344
65,394
--------
--------
Capital and reserves
Profit and loss account
84,344
65,394
--------
--------
Shareholder funds
84,344
65,394
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fairbank Consulting Limited
Statement of Financial Position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:
Mr A C Fairbank
Director
Company registration number: 12461792
Fairbank Consulting Limited
Notes to the Financial Statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for consultancy services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Other investments other than loans
£
Cost
At 1 March 2024 and 28 February 2025
5
----
Impairment
At 1 March 2024 and 28 February 2025
----
Carrying amount
At 28 February 2025
5
----
At 29 February 2024
5
----
5. Debtors
2025
2024
£
£
Other debtors
70,761
--------
----
6. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
6,967
18,635
Other creditors
1,440
7,970
-------
--------
8,407
26,605
-------
--------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A C Fairbank
( 5,090)
75,917
( 66)
70,761
-------
--------
----
--------
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A C Fairbank
( 5,090)
( 5,090)
----
-------
----
-------
8. Related party transactions
At the year end, the company owed £Nil (2024: £1,440) to Peristyle Properties Limited, a company controlled by A Fairbank. The loan was on interest free terms and repayable on demand.