Company Registration No. 10434099 (England and Wales)
Founthill Developments Ltd
Unaudited accounts
for the year ended 31 March 2024
Founthill Developments Ltd
Unaudited accounts
Contents
Founthill Developments Ltd
Company Information
for the year ended 31 March 2024
Directors
Kevin Paul Edge
Anjohn Shome
Company Number
10434099 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
UNITED KINGDOM
Accountants
Mayflower Accountancy & Tax Limited
Unit A, Angel Business Centre
1 Luton Road
Toddington
Bedfordshire
LU5 6DE
Founthill Developments Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
5,366
1,267
Cash at bank and in hand
12,876
31,248
Creditors: amounts falling due within one year
(214,386)
(211,999)
Net current assets/(liabilities)
3,966,439
(27,045)
Total assets less current liabilities
3,971,805
(25,778)
Creditors: amounts falling due after more than one year
(4,057,000)
-
Provisions for liabilities
Net liabilities
(85,195)
(26,019)
Called up share capital
20
20
Profit and loss account
(85,215)
(26,039)
Shareholders' funds
(85,195)
(26,019)
For the 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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by
Kevin Paul Edge
Director
Company Registration No. 10434099
Founthill Developments Ltd
Notes to the Accounts
for the year ended 31 March 2024
Founthill Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 10434099. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on cost
Motor vehicles
20% reducing balance
Computer equipment
33% on cost
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
-
-
1,303
1,303
Additions
499
4,600
-
5,099
At 31 March 2024
499
4,600
1,303
6,402
Charge for the year
110
460
430
1,000
At 31 March 2024
110
460
466
1,036
At 31 March 2024
389
4,140
837
5,366
At 31 March 2023
-
-
1,267
1,267
Founthill Developments Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Deferred tax asset
21,553
-
Accrued income and prepayments
1,026
9,138
Other debtors
366,440
130,580
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
149,075
81,343
Taxes and social security
11,934
4,906
Other creditors
53,377
125,000
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
4,057,000
-
8
Deferred taxation
2024
2023
Accelerated capital allowances
1,765
241
Tax losses carried forward
(23,318)
-
Provision at start of year
241
-
(Credited)/charged to the profit and loss account
(21,794)
241
Provision at end of year
(21,553)
241
Deferred tax consists of both accelerated capital allowances and losses that will be carried forward. Founthill Developments Ltd holds work in progress related to its developments and otherwise incurs overheads for the operation of the company.
When these developments are concluded and the properties have been successfully disposed of, Founthill Developments Ltd will invoice for services rendered, utilising accrued tax losses.
9
Average number of employees
During the year the average number of employees was 1 (2023: 2).