Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 754,708 | 729,183 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 207,476 | 144,667 | |||
| Creditors: amounts falling due within one year | 5 | (
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(
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| Net current assets | 118,802 | 75,895 | ||
| Total assets less current liabilities | 873,510 | 805,078 | ||
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholder's funds |
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Included within the profit and loss account reserves is £486,594 (2024: £461,068) of non-distributable reserves.
Directors' responsibilities:
The financial statements of Fitzwilliam Trust Corporation Limited (registered number:
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Mr G Paterson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investments are valued at fair value under which in year gains and losses are being put through the profit and loss. Deferred tax differences between cost and carrying value are booked in the profit and loss.
Classification
The company holds the following financial instruments:
• Investments in listed entities;
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS 102. Financial instruments are recognised when the company becomes party to the contractual provisions
of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to
another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for investments, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments. Details of the accounting policy for investments are given above.
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 Section 1A, and the Companies Act 2006. There are no material departures from FRS 102.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover comprises fees receivable and is accounted for on the received basis. Other income represents income receivable from the listed investments and is accounted for on the received basis.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Listed investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 April 2024 |
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| Movement in fair value |
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| At 31 March 2025 |
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| Carrying value at 31 March 2025 |
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| Carrying value at 31 March 2024 |
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The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £268,113.
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| £ | £ | ||
| Amounts owed by directors |
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| Corporation tax |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| At start of period | 0 | 0 | |
| Advanced | 28,522 | 0 | |
| At end of period | 28,522 | 0 |
This loan has interest charged at the HMRC official rate. It will be repaid within nine months of the current year end.
Called-up and fully-paid
| 2025 | 2024 | ||
| £ | £ | ||
| 100,000 Ordinary shares of £1.00 each | 250,000 | 250,000 |
100,000 Ordinary shares of £2.50 were authorised and these have been part paid as to £1 each. Wentworth Trustee Company Limited held 100,000 Ordinary shares of the Company as at 31 March 2025.