35 FOUNTAIN STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
35 Fountain Street Limited is a private company limited by shares which was incorporated in the United Kingdom.
These financial statements have been prepared for a 16-month period from 20 September 2023 to 31 December 2024.
The principal place of business and registered address is A&L Suite 1-3, The Hop Exchange, 24 Southwark Street, London, England, SE1 1TY.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements show that the Company made a loss of £325,150 in the period and had net current assets of £99,292 at the balance sheet date. After careful consideration of the Company's cash flow forecast and projections, the directors are confident that the Company can continue to operate within its current financial arrangements.
Having made sufficient enquiries, the directors are satisfied that the Company has adequate resources to remain in operation until at least 12 months after the approval of these financial statements. The Company therefore continues to adopt the going concern basis for the preparation of its financial statements.
Interest income is recognised in profit or loss using the effective interest method.
Investment property is measured at fair value, which is determined annually by external valuers. The valuation is based on current market rents and investment property yields for comparable real estate, with adjustments made if necessary for differences in the nature, location, or condition of the specific asset.
If fair value cannot be reliably measured, the cost method with impairment assessment is applied in accordance with FRS 102. No depreciation is provided. Changes in fair value or impairment are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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