FitzGerald Consulting Limited - Accounts to registrar (filleted) - small 18.2

FITZGERALD CONSULTING LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

B W G Fitzgerald

C Emerson

G R Shurben

G C Williams

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

04440627 (England and Wales)

Fixed assets

Tangible assets

4

1,020

62

Investments

5

50,975

54,469

51,995

54,531

Current assets

Debtors

6

288,440

215,371

Cash at bank

509,775

480,454

798,215

695,825

Creditors

Amounts falling due within one year

7

293,974

178,165

Net current assets

504,241

517,660

Total assets less current liabilities

556,236

572,191

Capital and reserves

Called up share capital

355

355

Capital redemption reserve

135

135

Retained earnings

555,746

571,701

556,236

572,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2021 and were signed on its behalf by:

B W G Fitzgerald - Director

1.	Statutory information

FitzGerald Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 1021A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

Following the emergence and spread of the coronavirus (COVID-19) and its financial effects on businesses worldwide, the directors have examined the possible effects on their business by undertaking forecasts and scenarios planning.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments.

Bad debt provision

There is estimation uncertainty in calculating bad debt provisions. Review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Depreciation

The company's tangible assets are depreciated on a straight line basis over their useful economic lives. Management reviews the appropriateness of assets' useful economic lives at least annually and any changes could affect prospective depreciation rates and asset carrying values.

3.	Employees and directors

The average number of employees during the year was 3 (2019 - 3 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2020

22,445

Additions

1,535

Disposals

(14,914

)

At 31 December 2020

9,066

Depreciation

At 1 January 2020

22,383

Charge for year

577

Eliminated on disposal

(14,914

)

At 31 December 2020

8,046

Net book value

At 31 December 2020

1,020

At 31 December 2019

62

5.	Fixed asset investments

Shares in

group

Interest in

undertakings

associate

Totals

£

£

£

Cost

At 1 January 2020

11,617

42,852

54,469

Exchange differences

1,773

(5,267

)

(3,494

)

At 31 December 2020

13,390

37,585

50,975

Net book value

At 31 December 2020

13,390

37,585

50,975

At 31 December 2019

11,617

42,852

54,469

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

163,322

10,521

Other debtors

125,118

204,850

288,440

215,371

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

54,953

22,760

Taxation and social security

134,150

65,217

Other creditors

104,871

90,188

293,974

178,165

8.	Related party disclosures

During the year, total dividends of £379,000 were paid to the directors .

During the year the directors made advances to the company. At the year end the company owed the directors £3,465 (2019: £4,095).

At the balance sheet date, the amount owed to the company by FitzGerald Claims Consultants (Caribbean) Ltd was £3,759 (2019: £3,879) and the amount owed by F C Espana was £720 (2019: £720) .

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

Value:

90

A Ordinary

£1

90

90

40

B Ordinary

£1

40

40

90

D Ordinary

£1

90

90

87

F Ordinary

£1

87

90

44

I Ordinary

£1

44

44

1

J Ordinary

£1

1

1

1

K Ordinary

£1

1

-

1

L Ordinary

£1

1

-

1

M Ordinary

£1

1

-

355

355