Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truetrueProperty development2022-04-01false22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03034503 2022-04-01 2023-03-31 03034503 2021-04-01 2022-03-31 03034503 2023-03-31 03034503 2022-03-31 03034503 c:Director1 2022-04-01 2023-03-31 03034503 d:CurrentFinancialInstruments 2023-03-31 03034503 d:CurrentFinancialInstruments 2022-03-31 03034503 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03034503 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03034503 d:ShareCapital 2023-03-31 03034503 d:ShareCapital 2022-03-31 03034503 d:RetainedEarningsAccumulatedLosses 2023-03-31 03034503 d:RetainedEarningsAccumulatedLosses 2022-03-31 03034503 c:FRS102 2022-04-01 2023-03-31 03034503 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03034503 c:FullAccounts 2022-04-01 2023-03-31 03034503 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03034503










FOUNTAINGATE DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
FOUNTAINGATE DEVELOPMENTS LIMITED
REGISTERED NUMBER: 03034503

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
59,400
59,400

Cash at bank and in hand
  
650
586

  
60,050
59,986

Creditors: amounts falling due within one year
 4 
(66,417)
(65,416)

Net current liabilities
  
 
 
(6,367)
 
 
(5,430)

  

Net liabilities
  
(6,367)
(5,430)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(6,467)
(5,530)

  
(6,367)
(5,430)


Page 1

 
FOUNTAINGATE DEVELOPMENTS LIMITED
REGISTERED NUMBER: 03034503
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2023.




I T Else
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
FOUNTAINGATE DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Fountaingate Developments Limited is a private company limited by shares, incorporated in England and Wales (registered number: 03034503). Its registered office is Redway Farm, Bakewell, Derbyshire, DE45 1PE. The principal activity of the company throughout the year continued to be that of property development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at 31 March 2023 the company had an excess of liabilities over its total assets amounting to £6,367 (2022: £5,430). The ability of the company to meet its liabilities as they fall due is dependant on the future profitability and cash generation of the company. The directors are confident that the company will be able to pay its debts as they fall due and accordingly these accounts are prepared on a going concern basis. 

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately Statement of Income and Retained Earnings.

Page 3

 
FOUNTAINGATE DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,650
1,650

Other creditors
63,867
62,866

Accruals and deferred income
900
900

66,417
65,416


 
Page 4