Company No: 12935774 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	Dr Anne Louise Irving
	John Andrew Patrick

REGISTERED OFFICE	18 Northgate
	Sleaford
	NG34 7BJ
	United Kingdom

BUSINESS ADDRESS	25 West Parade
	Lincoln
	Lincolnshire
	LN1 1NW

COMPANY NUMBER

12935774 (England and Wales)

ACCOUNTANT	Duncan & Toplis Limited
	18 Northgate
	Sleaford
	Lincolnshire
	NG34 7BJ

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	90,380		87,956
		90,380		87,956
Current assets
Stocks		5,000		2,000
Debtors	4	26,749		40,663
Cash at bank and in hand		14,153		2,924
		45,902		45,587
Creditors: amounts falling due within one year	5	( 123,566)		( 115,049)
Net current liabilities		(77,664)		(69,462)
Total assets less current liabilities		12,716		18,494
Creditors: amounts falling due after more than one year	6	( 3,051)		( 6,373)
Provision for liabilities		( 17,175)		( 16,065)
Net liabilities		( 7,510)		( 3,944)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 7,610 )		( 4,044 )
Total shareholders' deficit		( 7,510)		( 3,944)

For the financial year ending 31 December 2025 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Irving Patrick Consulting Ltd (registered number: 12935774) were approved and authorised for issue by the Board of Directors on 30 April 2026. They were signed on its behalf by:

John Andrew Patrick Director

1. Accounting policies

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.

General information and basis of accounting

Irving Patrick Consulting Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 Northgate, Sleaford, NG34 7BJ, United Kingdom. The principal place of business is 25 West Parade, Lincoln, Lincolnshire, LN1 1NW.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources, despite negative retained earnings, to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. This is due to the continued support of the Director. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	2 % reducing balance
Plant and machinery etc.	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 January 2025	77,101		13,717		90,818
Additions	0		6,059		6,059
At 31 December 2025	77,101		19,776		96,877
Accumulated depreciation
At 01 January 2025	0		2,862		2,862
Charge for the financial year	1,542		2,093		3,635
At 31 December 2025	1,542		4,955		6,497
Net book value
At 31 December 2025	75,559		14,821		90,380
At 31 December 2024	77,101		10,855		87,956

4. Debtors

	2025		2024
	£		£
Trade debtors	20,765		1,800
Corporation tax	0		7,750
Other debtors	5,984		31,113
	26,749		40,663

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,856		543
Taxation and social security	13,605		273
Other creditors	108,105		114,233
	123,566		115,049

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	3,051		6,373

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 A Ordinary shares of £ 1.00 each	50		50
50 B Ordinary shares of £ 1.00 each	50		50
	100		100

8. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Balance outstanding at start of year	(85,203)		38,839
Amounts advanced	87,961		66,739
Amounts repaid	(94,340)		(190,781)
Balance outstanding at the end of year	(91,582)		(85,203)

An individual balance is owed to the Director, J A Patrick £97,563 (2024: £104,638, owed from the Company).

An individual balance is also owed to the Company from Director, Dr A L Irving £5,981 (2024: £19,435).

Interest on overdrawn directors loan accounts is charged at the official rate. The balances outstanding at the end of the period are unsecured and repayable on demand.