FOUNTAINS RESOURCES LIMITED

Company Registration Number:
12095066 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

FOUNTAINS RESOURCES LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

FOUNTAINS RESOURCES LIMITED

Company Information

for the Period Ended 31 July 2024




Director: N Mahmood
Registered office: 19
Highlands Grove
Bradford
England
BD7 4BG
Company Registration Number: 12095066 (England and Wales)

FOUNTAINS RESOURCES LIMITED

Balance sheet

As at 31 July 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 133 253
Total fixed assets: 133 253
Current assets
Cash at bank and in hand: 52,691 60,420
Total current assets: 52,691 60,420
Creditors: amounts falling due within one year: 5 ( 640 ) ( 5,442 )
Net current assets (liabilities): 52,051 54,978
Total assets less current liabilities: 52,184 55,231
Total net assets (liabilities): 52,184 55,231

The notes form part of these financial statements

FOUNTAINS RESOURCES LIMITED

Balance sheet continued

As at 31 July 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 52,183 55,230
Shareholders funds: 52,184 55,231

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 January 2025
And Signed On Behalf Of The Board By:

Name: N Mahmood
Status: Director

The notes form part of these financial statements

FOUNTAINS RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers

    Tangible fixed assets depreciation policy

    Depreciation: Depreciation is calculated so as to write off the cost of an asset. net of anticipation disposal proceeds, over the useful economic life of that asset as follows: Fixtures & fittings- 15% reducing balance Office equipment- 33% straight line Motor vehicles- 25% reducing balance Plant and Machinery- 15% reducing balance

    Other accounting policies

    Deferred taxation Full promise is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing difference will reverse. Foreign currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liberties denominated in foreign currencies are translated at the rate of exchange ruling and the balance sheet. All differences are taken to the profit and loss account.

FOUNTAINS RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

FOUNTAINS RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 3. Off balance sheet disclosure

    No

FOUNTAINS RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Tangible assets

Office equipment Total
Cost £ £
At 01 August 2023 955 955
Additions 158 158
Disposals ( 0 ) ( 0 )
Revaluations - -
Transfers - -
At 31 July 2024 1,113 1,113
Depreciation
At 01 August 2023 702 702
Charge for year 278 278
On disposals - -
Other adjustments - -
At 31 July 2024 980 980
Net book value
At 31 July 2024 133 133
At 31 July 2023 253 253

Depreciation: Depreciation is calculated so as to write off the cost of an asset. net of anticipation disposal proceeds, over the useful economic life of that asset as follows: Fixtures & fittings- 15% reducing balance Office equipment- 33% straight line Motor vehicles- 25% reducing balance Plant and Machinery- 15% reducing balance

FOUNTAINS RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5.Creditors: amounts falling due within one year note


2024
£

2023
£
Taxation and social security 640 5,442
Total 640 5,442

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director loans. Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.