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REGISTERED NUMBER: SC138651 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Fountainhead Ltd

Fountainhead Ltd (Registered number: SC138651)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fountainhead Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P R Davidson





REGISTERED OFFICE: 145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC138651 (Scotland)





ACCOUNTANTS: McLay, McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Fountainhead Ltd (Registered number: SC138651)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 111 487
Investments 5 31,300 31,300
Investment property 6 130,000 298,228
161,411 330,015

CURRENT ASSETS
Cash at bank 48,115 5,556

CREDITORS
Amounts falling due within one year 7 (37,383 ) (119,713 )
NET CURRENT ASSETS/(LIABILITIES) 10,732 (114,157 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,143

215,858

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 20,000 39,028
Retained earnings 152,141 176,828
SHAREHOLDERS' FUNDS 172,143 215,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:



P R Davidson - Director


Fountainhead Ltd (Registered number: SC138651)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Fountainhead Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 1 (2023 - 1 ) .

Fountainhead Ltd (Registered number: SC138651)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 4,464
DEPRECIATION
At 1 July 2023 3,977
Charge for year 376
At 30 June 2024 4,353
NET BOOK VALUE
At 30 June 2024 111
At 30 June 2023 487

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.6.24 30.6.23
£    £   
Other investments 31,300 31,300

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 298,228
Disposals (168,228 )
At 30 June 2024 130,000
NET BOOK VALUE
At 30 June 2024 130,000
At 30 June 2023 298,228

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 130,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 403 5,046
Other creditors 36,980 114,667
37,383 119,713

Fountainhead Ltd (Registered number: SC138651)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. RESERVES
Fair
value
reserve
£   
At 1 July 2023 39,028
Fair Value (19,028 )

At 30 June 2024 20,000