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REGISTERED NUMBER: 05228928 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Fastek Consultancy Limited

Fastek Consultancy Limited (Registered number: 05228928)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 5

Chartered Accountants' Report 12

Fastek Consultancy Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: N J Andrews
T Roberts
D K Etherington





REGISTERED OFFICE: Unit 22 North Valley Mill
Stanley Street
COLNE
Lancashire
BB8 9FL





REGISTERED NUMBER: 05228928 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Fastek Consultancy Limited (Registered number: 05228928)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 33,823 44,439
Tangible assets 6 21,645 24,621
Investments 7 240 240
55,708 69,300

CURRENT ASSETS
Stocks 8 35,452 33,683
Debtors 9 145,381 164,508
Cash at bank 15,706 13,513
196,539 211,704
CREDITORS
Amounts falling due within one year 10 (187,493 ) (195,882 )
NET CURRENT ASSETS 9,046 15,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,754

85,122

CREDITORS
Amounts falling due after more than one
year

11

(26,508

)

(32,064

)

PROVISIONS FOR LIABILITIES (3,345 ) (2,852 )
NET ASSETS 34,901 50,206

CAPITAL AND RESERVES
Called up share capital 8,016 8,016
Capital redemption reserve 4,000 4,000
Retained earnings 22,885 38,190
SHAREHOLDERS' FUNDS 34,901 50,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Fastek Consultancy Limited (Registered number: 05228928)

Statement of Financial Position - continued
30 September 2024


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 Statement of Income and Retained Earnings has not been delivered.

Fastek Consultancy Limited (Registered number: 05228928)

Statement of Financial Position - continued
30 September 2024



The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





T Roberts - Director


Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Fastek Consultancy 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amount received or receivable for goods and services provided to customers excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued
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.

Research and development
Development costs that are incurred in the design and testing of software controlled by the company are recognised as intangible assets providing the following criteria are met:
-It is technically feasible to complete development of the asset so that it is available for use
-The company intends to use or sell the asset
-The company is able to use or sell the asset
-The asset is expected to generate probable future economic benefits
-Adequate technical, financial and other resources are available to complete development and use or sell the asset
-The development costs directly attributable to the asset can be reliably measured

Development costs that do not meet this criteria are recognised as an expense in the period incurred.

Research costs are recognised as an expense in the period incurred.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 110,754 32,326 143,080
AMORTISATION
At 1 October 2023 92,175 6,466 98,641
Amortisation for year 7,383 3,233 10,616
At 30 September 2024 99,558 9,699 109,257
NET BOOK VALUE
At 30 September 2024 11,196 22,627 33,823
At 30 September 2023 18,579 25,860 44,439

6. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 October 2023
and 30 September 2024 12,833 7,207 27,178
DEPRECIATION
At 1 October 2023 3,210 2,453 24,156
Charge for year 257 713 453
At 30 September 2024 3,467 3,166 24,609
NET BOOK VALUE
At 30 September 2024 9,366 4,041 2,569
At 30 September 2023 9,623 4,754 3,022

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 13,188 78,915 139,321
DEPRECIATION
At 1 October 2023 8,124 76,757 114,700
Charge for year 1,013 540 2,976
At 30 September 2024 9,137 77,297 117,676
NET BOOK VALUE
At 30 September 2024 4,051 1,618 21,645
At 30 September 2023 5,064 2,158 24,621

Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 13,188
Transfer to ownership (13,188 )
At 30 September 2024 -
DEPRECIATION
At 1 October 2023 8,124
Charge for year 1,013
Transfer to ownership (9,137 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 5,064

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 240
NET BOOK VALUE
At 30 September 2024 240
At 30 September 2023 240


The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Fastek Graphic Services Limited
Registered office:
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

Fastgraphics Consumables Limited
Registered office:
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. STOCKS
30.9.24 30.9.23
£    £   
Stocks 35,452 33,683

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 75,346 85,781
Other debtors 16 16
Directors' current accounts 48,749 -
Prepayments and accrued income 21,270 78,711
145,381 164,508

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 12) 5,556 13,794
Hire purchase contracts - 496
Trade creditors 35,447 74,888
Tax 26,377 22,939
Social security and other taxes 46,790 14,926
VAT - 2,608
Other creditors 47,168 47,168
Directors' current accounts - 5,175
Accruals and deferred income 26,155 13,888
187,493 195,882

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 12) 26,388 31,944
Amounts owed to group undertakings 120 120
26,508 32,064

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,166 9,722

Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 8,238
Bank loans 5,556 5,556
5,556 13,794

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,555 5,555

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 16,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,166 9,722

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
N J Andrews
Balance outstanding at start of year - -
Amounts advanced 12,849 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,849 -

T Roberts
Balance outstanding at start of year - -
Amounts advanced 18,024 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,024 -

Fastek Consultancy Limited (Registered number: 05228928)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D K Etherington
Balance outstanding at start of year - -
Amounts advanced 17,877 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,877 -

14. RELATED PARTY DISCLOSURES

Dr Gary Whitaker and Mr Neil James Andrews jointly own a controlling shareholding in Rapid Innovations Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fastek Consultancy Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fastek Consultancy Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fastek Consultancy Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fastek Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of Fastek Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fastek Consultancy Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fastek Consultancy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fastek Consultancy Limited. You consider that Fastek Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fastek Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


25 June 2025