Paul Fairweather & Co. Group Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01524308

Paul Fairweather & Co. Group Limited

Filleted Unaudited Financial Statements

31 December 2024

Paul Fairweather & Co. Group Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Paul Fairweather & Co. Group Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Paul Fairweather & Co. Group Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Fairweather & Co. Group Limited for the year ended 31 December 2024, which comprise the 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Paul Fairweather & Co. Group Limited, as a body, in accordance with the terms of our engagement letter dated 27 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Paul Fairweather & Co. Group Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Fairweather & Co. Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paul Fairweather & Co. Group 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 loss of Paul Fairweather & Co. Group Limited. You consider that Paul Fairweather & Co. Group 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 Paul Fairweather & Co. Group 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.

WALTER HUNTER & CO LIMITED Chartered accountants

24 Bridge Street Newport South Wales NP20 4SF

30 September 2025

Paul Fairweather & Co. Group Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	489	908
Investments	6	934,770	932,811
		---------	---------
		935,259	933,719

Current assets

Debtors	7	269,667	269,448
Cash at bank and in hand		603,938	635,107
		---------	---------
		873,605	904,555

Creditors: amounts falling due within one year	8	80,294		81,739
		---------		---------
Net current assets			793,311	822,816
			------------	------------
Total assets less current liabilities			1,728,570	1,756,535
			------------	------------
Net assets			1,728,570	1,756,535
			------------	------------

Capital and reserves

Called up share capital	2,322	2,322
Share premium account	163,680	163,680
Profit and loss account	1,562,568	1,590,533
	------------	------------
Shareholders funds	1,728,570	1,756,535
	------------	------------

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 31 December 2024 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Paul Fairweather & Co. Group Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

I.M. Fairweather

Director

Company registration number: 01524308

Paul Fairweather & Co. Group Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 74 St Michaels Road, Llandaff, Cardiff, CF5 2AQ.

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. The principal activity of the company during the year under review was that of managing shipping agents, wharfowners and hauliers. The company also rents its residential freehold property. The financial statements are prepared in sterling, which is the functional currency of the entity rounded to the nearest pound.

Going concern

The Directors consider that the company remains a going concern having regard to the financial support given by themselves and future predicted cash flow and profitability.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% p.a. Straight Line

The property is classified as an investment property. In the opinion of the Directors the carrying value equates to the market value of the property.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	1,677	1,677
	-------	-------
Depreciation
At 1 January 2024	769	769
Charge for the year	419	419
	-------	-------
At 31 December 2024	1,188	1,188
	-------	-------
Carrying amount
At 31 December 2024	489	489
	-------	-------
At 31 December 2023	908	908
	-------	-------

6. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 January 2024	166,166	766,645	932,811
Additions	–	1,959	1,959
	---------	---------	---------
At 31 December 2024	166,166	768,604	934,770
	---------	---------	---------
Impairment
At 1 January 2024 and 31 December 2024	–	–	–
	---------	---------	---------

Carrying amount
At 31 December 2024	166,166	768,604	934,770
	---------	---------	---------
At 31 December 2023	166,166	766,645	932,811
	---------	---------	---------

Included in 'Other Investments' above is listed investments with a book cost of £27,457 (2023: £25,497) The market value of listed investments as at 31 December 2024 is £89,068 (2023: £89,130).

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Evergreen Recycling Limited	Ordinary	100
Keymead Transport Limited	Ordinary	99
Paul Fairweather & Company Limited	Ordinary	100

The results and capital and reserves for the year are as follows:

	Capital and reserves		Profit/(loss) for the year
	2024	2023	2024	2023
	£	£	£	£
Subsidiary undertakings
Evergreen Recycling Limited	24,931	24,931	–	–
Keymead Transport Limited	47,470	47,470	–	–
Paul Fairweather & Company Limited	1,340	2,158	( 818)	(561)
	--------	--------	----	----

7. Debtors

	2024	2023
	£	£
Trade debtors	250,000	250,000
Other debtors	19,667	19,448
	---------	---------
	269,667	269,448
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	77,500	78,933
Other creditors	2,794	2,806
	--------	--------
	80,294	81,739
	--------	--------

9. Directors' advances, credits and guarantees

As at 31 December 2024 the director Mr I.M. Fairweather was owed £627 (2023: £627).

10. Related party transactions

As at 31 December 2024 there was a balance of £76,895 (2023: £78,933).

	2024	2023
	£
Paul Fairweather & Company Limited	2,494	3,927
Evergreen Recycling Limited	24,931	25,050
Keymead Transport Limited	49,470	49,956

The Company was under the control Mr I M Fairweather during the current and previous year by virtue of his majority shareholding.

11. Share premium account

There was no movement on the share premium account during the financial year.