ACCOUNTS - Final Accounts preparation

Registered number: 08294987

FAIRMONEY COMPARISON LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

FAIRMONEY COMPARISON LIMITED

REGISTERED NUMBER: 08294987

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets			-		707
			-		707
Current assets
Bank and cash balances		643		503
		643		503
Creditors: amounts falling due within one year	7	(348,727)		(343,223)
Net current liabilities			(348,084)		(342,720)
Total assets less current liabilities			(348,084)		(342,013)

Net liabilities			(348,084)		(342,013)

Capital and reserves
Called up share capital	5	5
Share premium account	207,999	207,999
Profit and loss account	(556,088)	(550,017)
	(348,084)	(342,013)

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FAIRMONEY COMPARISON LIMITED

REGISTERED NUMBER: 08294987

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.

R J Gewolb

Director

The notes on pages 3 to 6 form part of these financial statements.

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FAIRMONEY COMPARISON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Fairmoney Comparison Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Going concern

The company is showing net liabilities of £348,084 (2023: £342,013) at the reporting date. In order to continue trading it is dependent on the continued financial support of its shareholder and director, Dr R J Gewolb, who has confirmed his intention to continue to support the company for the foreseeable future.
On this basis and also after reviewing the company's projections, the directors consider it appropriate to continue to adopt the going concern basis in preparing its financial statements.

2.3

Functional and presentation currency

The Company's functional and presentational currency is GBP.

2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on the following bases:

Website costs

20%

straight line

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Office equipment

25%

straight line

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FAIRMONEY COMPARISON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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FAIRMONEY COMPARISON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	Judgments in applying accounting policies 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 for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the reporting date based on invoices received after the period end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

5.	Intangible assets

		Website costs
		£
	Cost
	At 1 January 2024	13,281
	At 31 December 2024	13,281
	Amortisation
	At 1 January 2024	12,574
	Charge for the year on owned assets	707
	At 31 December 2024	13,281
	Net book value
	At 31 December 2024	-
	At 31 December 2023	707

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FAIRMONEY COMPARISON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	1,209
	At 31 December 2024	1,209
	Depreciation
	At 1 January 2024	1,209
	At 31 December 2024	1,209
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other creditors	227,102	224,098
Accruals and deferred income	121,625	119,125
	348,727	343,223

Related party transactions

At the reporting date, the company owed £101,008 (2023: £101,008) to Cred Originations Limited, a company under the common control of Dr R J Gewolb, a director.
At the reporting date, the company owed £226,094 (2023: £223,090) to Dr R J Gewolb. The balance was provided interest free and is repayable on demand. The Loan is secured by fixed and floating charges over the assets of the company.
There were no further transactions with related parties during the period that were material and had not been conducted under normal market conditions.

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