Registered number
03832788
Fontelunga Limited
Unaudited Filleted Accounts
31 December 2023
Fontelunga Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fontelunga Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fontelunga Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Fordhams & Co Limited
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
4 September 2024
Fontelunga Limited
Registered number: 03832788
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 293,569 283,745
Current assets
Debtors 4 246,815 285,792
Cash at bank and in hand 339 104
247,154 285,896
Creditors: amounts falling due within one year 5 (115,671) (119,106)
Net current assets 131,483 166,790
Total assets less current liabilities 425,052 450,535
Creditors: amounts falling due after more than one year 6 (182,901) (215,695)
Net assets 242,151 234,840
Capital and reserves
Called up share capital 306,388 306,388
Other reserve 259,290 260,602
Profit and loss account (323,527) (332,150)
Shareholders' funds 242,151 234,840
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Carey P Kastelec P Robinson
Director Director Director
Approved by the board on 4 September 2024
Fontelunga Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 688,080 206,330 2,655 897,065
Additions 16,648 6,108 - 22,756
At 31 December 2023 704,728 212,438 2,655 919,821
Depreciation
At 1 January 2023 413,650 199,349 321 613,320
Charge for the year 10,950 1,656 326 12,932
- -
At 31 December 2023 424,600 201,005 647 626,252
Net book value
At 31 December 2023 280,128 11,433 2,008 293,569
At 31 December 2022 274,430 6,981 2,334 283,745
4 Debtors 2023 2022
£ £
Trade debtors 837 221
Other debtors 245,978 285,571
246,815 285,792
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 39,435 23,167
Trade creditors 31,865 22,284
Taxation and social security costs - 3,881
Other creditors 44,371 69,774
115,671 119,106
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 182,901 215,695
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 185,882 212,778
The bank loan is secured against the freehold property.
8 Other reserves 2023 2022
£ £
At 1 January 2023 260,602 264,646
Other Reserves (1,312) (4,044)
At 31 December 2023 259,290 260,602
9 Other information
Fontelunga Limited is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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