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Registered number:
FOR THE PERIOD ENDED 31 JULY 2026
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
COMPANY INFORMATION
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
CONTENTS
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 JULY 2026
The directors present their report and the financial statements for the period ended 31 July 2026.
The principal activity of the Company during the period was the provision of design and build services.
The directors who served during the period were:
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2026
The auditors, PEM Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
We have audited the financial statements of Fitzwilliam College Developments Limited (the 'Company') for the period ended 31 July 2026, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Directors' Report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commercial knowledge and experience of the sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;
∙in addition, we considered provisions of other laws and regulations which do not have a direct effect on the
financial statements but compliance with which might be fundamental to the company's ability to operate or to avoid material penalties;
∙we obtained an understanding of the legal and regulatory framework applicable to the Company and of the
Company’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance;
∙we made enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud;
∙we obtained an understanding of the entity’s risk assessment process, including the risk of fraud;
∙we assessed the susceptibility of the entity’s financial statements to material misstatement, including how
fraud might occur; and
∙laws and regulations identified were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED (CONTINUED)
As a result of the above risk assessment procedures, we identified the greatest risk of material misstatement on the financial statements arising from irregularities and fraud to be within the potential for management to override. In response to these identified risks, we designed procedures which included, but were not limited to:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙performed audit work over the risk of management override of controls, including testing of journal entries
and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business; and
∙we evaluated the assumptions and judgements used by management within significant accounting estimates
and assessed whether these indicated evidence of management bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙we agreed the financial statement disclosures to underlying supporting documentation;
∙we read the minutes of meetings of those charged with governance; and
∙we discussed with management and those charged with governance actual and potential litigation and
claims;
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Salisbury House
Station Road
CB1 2LA
Date:
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE PERIOD ENDED 31 JULY 2026
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
REGISTERED NUMBER: 16233752
BALANCE SHEET
AS AT 31 JULY 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by on by:
The notes on pages 10 to 11 form part of these financial statements.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2026
Fitzwilliam College Developments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Fitzwilliam College, Storey's Way, Cambridge, CB3 0DG.
The Company's functional and presentational currency is GBP. The parent undertaking of the smallest group to consolidate these financial statements is Fitzwilliam College, which is a College of the University of Cambridge. The College's registered office is Storey's Way, Cambridge, CB3 0DG.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the Company in respect of design and build services supplied during the period, exclusive of Value Added Tax and trade discounts. Turnover is recognised as the fair value of the consideration received and is recognised once the service has been provided.
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FITZWILLIAM COLLEGE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2026
2.ACCOUNTING POLICIES (CONTINUED)
The deed of covenant payable to the parent undertaking is recognised when it becomes legally payable.
The Company has no employees other than the directors, who did not receive any remuneration.
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