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Registered Number: 08220188
England and Wales

 

 

 

FOUNTAIN FABRICATIONS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
TAG Accountancy Ltd
31 March 2024



....................................................
TAG Accountancy Ltd
Ground Floor Vanquish House
Wellesley Road Long Stratton
Norwich
Norfolk
NR15 2PD
09 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 50,584    56,426 
50,584    56,426 
Current assets      
Debtors 11,863    11,701 
Cash at bank and in hand (21,794)   (5,771)
(9,931)   5,930 
Creditors: amount falling due within one year (23,282)   (26,204)
Net current assets (33,213)   (20,274)
 
Total assets less current liabilities 17,371    36,152 
Creditors: amount falling due after more than one year (16,767)   (35,944)
Net assets 604    208 
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account 602    206 
Shareholders' funds 604    208 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 September 2024 and were signed on its behalf by:


-------------------------------
Sharon Fountain
Director
2
General Information
FOUNTAIN FABRICATIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08220188, registration address 50 Old High Road, Roydon, Diss, NORFOLK, IP22 5XJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 10,000    10,000 
Additions  
Disposals  
At 31 March 2024 10,000    10,000 
Amortisation
At 01 April 2023 10,000    10,000 
Charge for year  
On disposals  
At 31 March 2024 10,000    10,000 
Net book values
At 31 March 2024  
At 31 March 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2023 90,275    26,174    4,071    1,112    121,632 
Additions 9,690        344    10,034 
Disposals        
At 31 March 2024 99,965    26,174    4,071    1,456    131,666 
Depreciation
At 01 April 2023 52,936    8,410    2,748    1,112    65,206 
Charge for year 10,950    4,441    331    154    15,876 
On disposals        
At 31 March 2024 63,886    12,851    3,079    1,266    81,082 
Net book values
Closing balance as at 31 March 2024 36,079    13,323    992    190    50,584 
Opening balance as at 01 April 2023 37,339    17,764    1,323      56,426 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

3