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REGISTERED NUMBER: SC290778 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 September 2022

for

Fulmor Limited

Fulmor Limited (Registered number: SC290778)






Contents of the Financial Statements
for the Year Ended 30 September 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fulmor Limited

Company Information
for the Year Ended 30 September 2022







DIRECTORS: Mr R G Morrison
Mr W M Fulton





REGISTERED OFFICE: Broad House
Broad Street
Peterhead
Scotland
AB42 1HY





REGISTERED NUMBER: SC290778 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Fulmor Limited (Registered number: SC290778)

Balance Sheet
30 September 2022

30.9.22 30.9.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 931,778 604,041

CURRENT ASSETS
Stocks 185,414 224,024
Debtors 5 726,382 1,047,591
Investments 6 10,000 10,000
Cash at bank 133,395 497,983
1,055,191 1,779,598
CREDITORS
Amounts falling due within one year 7 976,251 905,627
NET CURRENT ASSETS 78,940 873,971
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,010,718

1,478,012

CREDITORS
Amounts falling due after more than one
year

8

30,103

216,159
NET ASSETS 980,615 1,261,853

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 980,613 1,261,851
SHAREHOLDERS' FUNDS 980,615 1,261,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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.

Fulmor Limited (Registered number: SC290778)

Balance Sheet - continued
30 September 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





Mr R G Morrison - Director


Fulmor Limited (Registered number: SC290778)

Notes to the Financial Statements
for the Year Ended 30 September 2022

1. STATUTORY INFORMATION

Fulmor Limited is a private company, limited by shares , registered in Scotland. 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 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents property rental income excluding VAT.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

Fulmor Limited (Registered number: SC290778)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2021 604,041
Additions 343,862
Disposals (16,125 )
At 30 September 2022 931,778
NET BOOK VALUE
At 30 September 2022 931,778
At 30 September 2021 604,041

The directors believe that the current value of investment properties as at the year end are as at cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Trade debtors 5,925 6,037
Amounts recoverable on contract - 15,000
Other debtors 720,457 1,026,554
726,382 1,047,591

6. CURRENT ASSET INVESTMENTS
30.9.22 30.9.21
£    £   
Unlisted investments 10,000 10,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Bank loans and overdrafts 85,354 31,831
Trade creditors 4,643 6,683
Tax 21,049 61,196
Other creditors 861,363 803,167
Accrued expenses 3,842 2,750
976,251 905,627

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.22 30.9.21
£    £   
Bank loans - 1-2 years 10,010 186,044
Bank loans - 2-5 years 20,093 30,115
30,103 216,159

Fulmor Limited (Registered number: SC290778)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.22 30.9.21
£    £   
Bank loans 115,457 247,990

Bank borrowings are secured by means of a bond and floating charge over the assets of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2022 and 30 September 2021:

30.9.22 30.9.21
£    £   
Mr R G Morrison
Balance outstanding at start of year 567,321 549,063
Amounts advanced 20,296 18,258
Amounts repaid (115,040 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 472,577 567,321

Mr W M Fulton
Balance outstanding at start of year 8 (953 )
Amounts advanced - 961
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8 8

11. RELATED PARTY DISCLOSURES

Included within Creditors Amounts Falling Due Within One Year is a balance due to Fulmor One Ltd of £529,306 (2021 - £531,600), a company of which R Morrison and W Fulton are directors.

At the balance sheet date there is a balance due to Cock & Bull Country Inns Limited of £20,000 (2021 - £20,000), £100,000 (2021 - £100,000) due to Rodger Morrison Catering Limited, £137,480 (2021 - £137,480) due to Rodger Morrison Holding Limited, £68,146 (2021 - £8,146) due to Davidson Properties Limited, companies of which R Morrison is a director. No interest is being charged and there are no fixed terms of repayment.

At the balance sheet date there is a balance due from Fulton Properties Limited of £Nil (2021 - £259,000), a company of which W Fulton is a director. No interest is being charged and there are no fixed terms of repayment.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the called up share capital.