2024-01-012024-12-312024-12-31false01068039Fitzroy Computer Systems 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Fitzroy Computer Systems Limited

Registered Number
01068039
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Fitzroy Computer Systems Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

S Beacock
I Brown
J D Brown
J A Brown

Company Secretary

J A Brown

Registered Address

152 Broadway
Southbourne
Bournemouth
BH6 4EL

Registered Number

01068039 (England and Wales)
Fitzroy Computer Systems Limited
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3407,000425,000
Investments4251,000409,566
658,000834,566
Current assets
Debtors14,2551,465
Cash at bank and on hand555,495519,111
569,750520,576
Creditors amounts falling due within one year5(10,603)(6,532)
Net current assets (liabilities)559,147514,044
Total assets less current liabilities1,217,1471,348,610
Provisions for liabilities6(38,345)(32,562)
Net assets1,178,8021,316,048
Capital and reserves
Called up share capital100100
Other reserves115,033138,816
Profit and loss account1,063,6691,177,132
Shareholders' funds1,178,8021,316,048
The financial statements were approved and authorised for issue by the Board of Directors on 4 June 2025, and are signed on its behalf by:
J A Brown
Director
Registered Company No. 01068039
Fitzroy Computer Systems Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Investments
Bonds have been acquired by the company for long term interest income. They are not and there is no intention for regular trading on the open market. Bonds are initially recorded at cost and are only re-valued upwards where there is an expectation in the short term (1-2 years) of there being a profit, or downwards if the market value at year end is lower than cost (in which case the loss recognised is limited to the base cost of the bond). A profit would only expect to be recognised on a sale of a bond, before its maturity date. A loss would only be recognised where there is a known loss on future sale of the bond or a loss where market value is less than base cost.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 January 24425,000425,000
Revaluations(18,000)(18,000)
At 31 December 24407,000407,000
Net book value
At 31 December 24407,000407,000
At 31 December 23425,000425,000
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 January 24409,566409,566
Revaluations(8,566)(8,566)
Disposals(150,000)(150,000)
At 31 December 24251,000251,000
Net book value
At 31 December 24251,000251,000
At 31 December 23409,566409,566

Notes

1Other investments other than loans
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security8,5704,640
Accrued liabilities and deferred income2,0331,892
Total10,6036,532
6.Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

2024

2023

££
Net deferred tax liability (asset)38,34532,562
Total38,34532,562