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Registration number: 08747426

F E Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

F E Associates Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

F E Associates Limited

(Registration number: 08747426)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

547,885

867,885

Tangible assets

5

5,861

6,397

 

553,746

874,282

Current assets

 

Debtors

6

3,414,879

3,694,579

Cash at bank and in hand

 

172,117

245,201

 

3,586,996

3,939,780

Creditors: Amounts falling due within one year

7

(890,473)

(1,411,102)

Net current assets

 

2,696,523

2,528,678

Total assets less current liabilities

 

3,250,269

3,402,960

Creditors: Amounts falling due after more than one year

7

(78,993)

(161,579)

Provisions for liabilities

(1,188)

(1,261)

Net assets

 

3,170,088

3,240,120

Capital and reserves

 

Called up share capital

130

130

Share premium reserve

2,355,173

2,355,173

Profit and loss account

814,785

884,817

Shareholders' funds

 

3,170,088

3,240,120

For the financial year ending 31 March 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 3 June 2025 and signed on its behalf by:
 

 

F E Associates Limited

(Registration number: 08747426)
Statement of Financial Position as at 31 March 2025 (continued)


L A Rudge
Director

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
9 Apex Court
Woodlands
Bradley Stoke
Bristol
BS32 4JT
United Kingdom

Principal activity

The principal activity of the company is provision of training services.

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 prepared in sterling which is the functional currency of the entity.

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

33% straight line

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2024 - 27).

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

3,200,000

3,200,000

At 31 March 2025

3,200,000

3,200,000

Amortisation

At 1 April 2024

2,332,115

2,332,115

Amortisation charge

320,000

320,000

At 31 March 2025

2,652,115

2,652,115

Carrying amount

At 31 March 2025

547,885

547,885

At 31 March 2024

867,885

867,885

5

Tangible assets

Equipment
£

Total
£

Cost or valuation

At 1 April 2024

70,751

70,751

Additions

3,380

3,380

At 31 March 2025

74,131

74,131

Depreciation

At 1 April 2024

64,354

64,354

Charge for the year

3,916

3,916

At 31 March 2025

68,270

68,270

Carrying amount

At 31 March 2025

5,861

5,861

At 31 March 2024

6,397

6,397

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Debtors

Note

2025
£

2024
£

Trade debtors

 

854,489

1,132,340

Amounts owed by related parties

10

2,514,286

2,514,286

Prepayments

 

46,104

47,953

 

3,414,879

3,694,579

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

76,629

69,297

Trade creditors

 

146,343

232,505

Taxation and social security

 

512,500

587,494

Accruals and deferred income

 

149,130

514,760

Other creditors

 

5,871

7,046

 

890,473

1,411,102

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

78,993

161,579

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

F E Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

78,993

161,579

Current loans and borrowings

2025
£

2024
£

Other borrowings

76,629

69,297

10

Related party transactions

Loans to related parties

2025

Parent
£

Total
£

At start of period

2,514,286

2,514,286

At end of period

2,514,286

2,514,286

2024

Parent
£

Total
£

At start of period

2,514,286

2,514,286

At end of period

2,514,286

2,514,286

11

Parent and ultimate parent undertaking

The company's immediate parent is F E Matters Limited, incorporated in England and Wales.