IRIS Accounts Production v25.1.4.42 03870447 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false A Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 D Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038704472023-12-31038704472024-12-31038704472024-01-012024-12-31038704472022-12-31038704472023-01-012023-12-31038704472023-12-3103870447ns15:EnglandWales2024-01-012024-12-3103870447ns14:PoundSterling2024-01-012024-12-3103870447ns10:Director12024-01-012024-12-3103870447ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103870447ns10:SmallEntities2024-01-012024-12-3103870447ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3103870447ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103870447ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103870447ns10:FullAccounts2024-01-012024-12-3103870447ns10:OrdinaryShareClass22024-01-012024-12-3103870447ns10:OrdinaryShareClass32024-01-012024-12-3103870447ns10:OrdinaryShareClass42024-01-012024-12-3103870447ns10:OrdinaryShareClass52024-01-012024-12-3103870447ns10:Director22024-01-012024-12-3103870447ns10:Director32024-01-012024-12-3103870447ns10:Director42024-01-012024-12-3103870447ns10:Director52024-01-012024-12-3103870447ns10:Director62024-01-012024-12-3103870447ns10:Director72024-01-012024-12-3103870447ns10:Director82024-01-012024-12-3103870447ns10:CompanySecretary12024-01-012024-12-3103870447ns10:RegisteredOffice2024-01-012024-12-3103870447ns5:CurrentFinancialInstruments2024-12-3103870447ns5:CurrentFinancialInstruments2023-12-3103870447ns5:Non-currentFinancialInstruments2024-12-3103870447ns5:Non-currentFinancialInstruments2023-12-3103870447ns5:ShareCapital2024-12-3103870447ns5:ShareCapital2023-12-3103870447ns5:RevaluationReserve2024-12-3103870447ns5:RevaluationReserve2023-12-3103870447ns5:RetainedEarningsAccumulatedLosses2024-12-3103870447ns5:RetainedEarningsAccumulatedLosses2023-12-3103870447ns5:PlantMachinery2023-12-3103870447ns5:PlantMachinery2024-01-012024-12-3103870447ns5:PlantMachinery2024-12-3103870447ns5:PlantMachinery2023-12-3103870447ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3103870447ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103870447ns5:Secured2024-12-3103870447ns5:Secured2023-12-3103870447ns10:OrdinaryShareClass22024-12-3103870447ns10:OrdinaryShareClass32024-12-3103870447ns10:OrdinaryShareClass42024-12-3103870447ns10:OrdinaryShareClass52024-12-3103870447ns5:RevaluationReserve2023-12-31
REGISTERED NUMBER: 03870447 (England and Wales)















FAIRFAX MANAGEMENT CONSULTANTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FAIRFAX MANAGEMENT CONSULTANTS LIMITED (REGISTERED NUMBER: 03870447)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


FAIRFAX MANAGEMENT CONSULTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: TJ McCracken
S McCracken
I N McCracken
D J Powell
Mr R D Luckman
C D Mapp
J P Watson
Mrs S A McCracken





SECRETARY: Mrs S A McCracken





REGISTERED OFFICE: Fairfax House
2 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR





REGISTERED NUMBER: 03870447 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

FAIRFAX MANAGEMENT CONSULTANTS LIMITED (REGISTERED NUMBER: 03870447)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,167 95,515

CURRENT ASSETS
Debtors 5 876,052 976,072
Cash at bank 634,145 783,996
1,510,197 1,760,068
CREDITORS
Amounts falling due within one year 6 709,216 769,060
NET CURRENT ASSETS 800,981 991,008
TOTAL ASSETS LESS CURRENT LIABILITIES 877,148 1,086,523

CREDITORS
Amounts falling due after more than one year 7 29,167 99,167
NET ASSETS 847,981 987,356

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Revaluation reserve 11 14,941 22,412
Retained earnings 831,040 962,944
SHAREHOLDERS' FUNDS 847,981 987,356

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 9 June 2025 and were signed on its behalf by:





TJ McCracken - Director


FAIRFAX MANAGEMENT CONSULTANTS LIMITED (REGISTERED NUMBER: 03870447)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Fairfax Management Consultants 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from recruitment consultancy is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to completion of assignments.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery etc - 15% and 33.33% reducing balance.

Tangible fixed assets are carried at cost or revalued amount less accumulated depreciation.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the income statement in the period to which they relate.

FAIRFAX MANAGEMENT CONSULTANTS LIMITED (REGISTERED NUMBER: 03870447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2023 - 64 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2024 309,032
Additions 13,959
At 31 December 2024 322,991
DEPRECIATION
At 1 January 2024 213,517
Charge for year 33,307
At 31 December 2024 246,824
NET BOOK VALUE
At 31 December 2024 76,167
At 31 December 2023 95,515

Cost or valuation at 31 December 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2016 35,000
Valuation in 2021 22,412
Cost 265,579
322,991

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 369,512 506,700
Other debtors 506,540 469,372
876,052 976,072

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 70,000 70,000
Trade creditors 43,254 61,983
Taxation and social security 296,714 333,735
Other creditors 299,248 303,342
709,216 769,060

FAIRFAX MANAGEMENT CONSULTANTS LIMITED (REGISTERED NUMBER: 03870447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 29,167 99,167

8. LEASING AGREEMENTS
The company has obligations under non-cancellable operating leases due within one year of £146,148 (2023: £153,330) and due between one and five years of £355,462 (2023: £360,126) and greater than 5 years of £185,596 (2023: £258,540).

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 99,167 169,167

There is a fixed and a floating charge over the undertaking and all property and assets held by HSBC Bank PLC.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
420 A Ordinary £1 420 420
1,180 B Ordinary £1 1,180 1,180
100 C Ordinary £1 100 100
100 D Ordinary £1 100 100
100 E Ordinary £1 100 100
60 F Ordinary £1 60 60
40 G Ordinary £1 40 40
2,000 2,000

11. RESERVES
Revaluation
reserve
£   
At 1 January 2024 22,412
Transfer (7,471 )

At 31 December 2024 14,941

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have directors loan accounts totalling £418,762 overdrawn brought forward (2023: £440,075). During the year, the directors of the company borrowed £453,942 (2023: £390,382) and repaid £418,896 (2023: £419,535). Interest was charged on the overdrawn amount in the year of £8,702 (2023: £7,840). The balance at the year end totalled £462,510 overdrawn (2023: £418,762 overdrawn).

Interest has been charged at the official HM Revenue & Customs rate on overdrawn balances.