Fullmer Development Co Limited 00712987 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is land and real estate Digita Accounts Production Advanced 6.30.9574.0 true true 00712987 2023-04-01 2024-03-31 00712987 2024-03-31 00712987 core:CurrentFinancialInstruments 2024-03-31 00712987 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00712987 bus:SmallEntities 2023-04-01 2024-03-31 00712987 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00712987 bus:FilletedAccounts 2023-04-01 2024-03-31 00712987 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00712987 bus:RegisteredOffice 2023-04-01 2024-03-31 00712987 bus:Director1 2023-04-01 2024-03-31 00712987 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00712987 countries:EnglandWales 2023-04-01 2024-03-31 00712987 2023-03-31 00712987 2022-04-01 2023-03-31 00712987 2023-03-31 00712987 core:CurrentFinancialInstruments 2023-03-31 00712987 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 00712987

Fullmer Development Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Fullmer Development Co Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Fullmer Development Co Limited

Company Information

Director

Mr Richard Bevan

Registered office

1 Boreford Road
Abingdon
Oxfordshire
OX14 2QU

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Bucks
SL8 5TD

 

Fullmer Development Co Limited

(Registration number: 00712987)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

374,816

374,816

Current assets

 

Debtors

5

525

468

Cash at bank and in hand

 

80,129

86,466

 

80,654

86,934

Creditors: Amounts falling due within one year

6

(10,588)

(12,846)

Net current assets

 

70,066

74,088

Net assets

 

444,882

448,904

Capital and reserves

 

Called up share capital

3,000

3,000

Retained earnings

441,882

445,904

Shareholders' funds

 

444,882

448,904

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 September 2024
 

.........................................
Mr Richard Bevan
Director

 

Fullmer Development Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Boreford Road
Abingdon
Oxfordshire
OX14 2QU

These financial statements were authorised for issue by the director on 7 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Fullmer Development Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Fullmer Development Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Investment properties

2024
£

At 1 April

374,816

At 31 March

374,816

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Other debtors

525

468

Total current trade and other debtors

525

468

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors current account

5,888

3,346

Other creditors

 

900

900

Corporation tax

 

3,800

8,600

 

10,588

12,846