| 31 FOUNTAYNE HOUSE LTD |
| Notes to the Accounts |
| for the period from 20 June 2023 to 30 June 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Tangible fixed assets |
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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: |
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Freehold buildings |
over 50 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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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. |
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Creditors |
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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. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Employees |
2024 |
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| Number |
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Average number of persons employed by the company |
1 |
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| 3 |
Tangible fixed assets |
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Land and buildings |
| £ |
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Cost |
|
Additions |
53,108 |
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At 30 June 2024 |
53,108 |
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Depreciation |
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At 30 June 2024 |
- |
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Net book value |
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At 30 June 2024 |
53,108 |
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| 4 |
Debtors |
2024 |
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| £ |
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Other debtors |
2 |
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| 5 |
Creditors: amounts falling due within one year |
2024 |
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| £ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
53,112 |
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| 6 |
Other information |
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31 FOUNTAYNE HOUSE LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
158 Cromwell Road |
|
Salford |
|
M6 6DE |