Registration number: 04399402

Fiscal Affairs Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Fiscal Affairs Limited

Company Information

Directors

Miss Gemma Louise Lusk Mrs Jacqui Sarah Lusk

Registered office

136 Northampton Road Rushden Northants England NN10 6AL

Accountants

CSH Consulting Chartered Certified AccountantThe Barn, 8 Oakley Hay Lodge Great Folds Road Corby Northants NN18 9AS

Fiscal Affairs Limited

(Registration number: 04399402)
Balance Sheet as at 31 December 2025

	Note	2025 £	2025 £
Fixed assets
Intangible assets	4	-	100,000
Tangible assets	5	1,281	1,921
		1,281	101,921
Current assets
Stocks		-	1,179
Debtors		7,673	27,195
Cash at bank and in hand		182,576	174,762
		190,249	203,136
Creditors: Amounts falling due within one year		(16,404)	(30,210)
Net current assets		173,845	172,926
Total assets less current liabilities		175,126	274,847
Provisions for liabilities		(1,281)	(1,914)
Net assets		173,845	272,933
Capital and reserves
Called up share capital	6	12	12
Capital redemption reserve		10,000	10,000
Retained earnings		163,833	262,921
Shareholders' funds		173,845	272,933

For the financial period 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 September 2026 and signed on its behalf by:
 

......................................... Mrs Jacqui Sarah Lusk Director

Fiscal Affairs Limited

Notes to the Financial Statements for the Period from 1 June 2025 to 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
136 Northampton Road
Rushden
Northants
NN10 6AL
England

These financial statements were authorised for issue by the Board on 14 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. 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 income 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.

Fiscal Affairs Limited

Notes to the Financial Statements for the Period from 1 June 2025 to 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% on cost
Motor vehicles	25% on cost

Goodwill

The goodwill has been written off in full in this period due to the death of the main director/tax consultant.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Fiscal Affairs Limited

Notes to the Financial Statements for the Period from 1 June 2025 to 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2025 - 3).

Fiscal Affairs Limited

Notes to the Financial Statements for the Period from 1 June 2025 to 31 December 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 June 2025	100,000	100,000
Revaluations	(100,000)	(100,000)
At 31 December 2025	-	-
Amortisation
Carrying amount
At 31 December 2025	-	-
At 31 May 2025	100,000	100,000

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2025	7,331	28,684	36,015
At 31 December 2025	7,331	28,684	36,015
Depreciation
At 1 June 2025	5,410	28,684	34,094
Charge for the period	640	-	640
At 31 December 2025	6,050	28,684	34,734
Carrying amount
At 31 December 2025	1,281	-	1,281
At 31 May 2025	1,921	-	1,921

6	Share capital

Allotted, called up and fully paid shares

	2025		2025
	No.	£	No.	£
Ordinary alphabet shares of £0.10 each	120	12	120	12