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REGISTERED NUMBER: 07396097















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Fountain Digital Limited

Fountain Digital Limited (Registered number: 07396097)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fountain Digital Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: D J Hazelgrove
N Newnham





SECRETARY: D J Hazelgrove





REGISTERED OFFICE: 398 Coast Road
Pevensey Bay
East Sussex
BN24 6NY





REGISTERED NUMBER: 07396097





ACCOUNTANTS: Stone's Accountancy Sussex Limited
398 Coast Road
Pevensey Bay
Pevensey
East Sussex
BN24 6NY

Fountain Digital Limited (Registered number: 07396097)

Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,808 12,273
12,808 12,273

CURRENT ASSETS
Stocks 1,009 1,750
Debtors 6 14,964 14,465
Prepayments and accrued income 2,750 2,750
Cash at bank and in hand 40,665 34,562
59,388 53,527
CREDITORS
Amounts falling due within one year 7 58,041 56,174
NET CURRENT ASSETS/(LIABILITIES) 1,347 (2,647 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,155

9,626

CREDITORS
Amounts falling due after more than
one year

8

(12,992

)

(17,388

)

PROVISIONS FOR LIABILITIES (998 ) (1,232 )
NET ASSETS/(LIABILITIES) 165 (8,994 )

Fountain Digital Limited (Registered number: 07396097)

Balance Sheet - continued
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 201 202
Retained earnings (36 ) (9,196 )
SHAREHOLDERS' FUNDS 165 (8,994 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 May 2024 and were signed on its behalf by:





D J Hazelgrove - Director


Fountain Digital Limited (Registered number: 07396097)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Fountain Digital Limited is a private company, limited by shares , registered in Not specified/Other. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance and 20% on reducing balance
Computer equipment - 20% on reducing balance and Over 3 Years

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.


Fountain Digital Limited (Registered number: 07396097)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 3,500
AMORTISATION
At 1 November 2022
and 31 October 2023 3,500
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Fountain Digital Limited (Registered number: 07396097)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 3,717 27,735 31,452
Additions - 3,147 3,147
At 31 October 2023 3,717 30,882 34,599
DEPRECIATION
At 1 November 2022 1,863 17,316 19,179
Charge for year 371 2,241 2,612
At 31 October 2023 2,234 19,557 21,791
NET BOOK VALUE
At 31 October 2023 1,483 11,325 12,808
At 31 October 2022 1,854 10,419 12,273

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 11,536 14,465
Directors' loan accounts 3,428 -
14,964 14,465

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 4,233 1,712
Trade creditors 992 472
Tax 27,469 19,101
Social security and other taxes 2,823 3,022
VAT 19,555 17,166
Directors' loan accounts - 12,204
Accrued expenses 2,969 2,497
58,041 56,174

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/10/23 31/10/22
£    £   
Other loans - 1-2 years 12,992 17,388

Fountain Digital Limited (Registered number: 07396097)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31/10/23 31/10/22
£    £   
D J Hazelgrove
Balance outstanding at start of year - -
Amounts advanced 3,428 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,428 -

At the balance sheet date the directors loan account was owed to the director. No interest has been changed for this loan and there is loan repayment date set. The loan is repayable on demand.,