Company registration number 14769500 (England and Wales)
FULCRUM PROPERTY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
FULCRUM PROPERTY HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
FULCRUM PROPERTY HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
4,468,225
4,468,225
Investments
4
34,999
34,999
4,503,224
4,503,224
Current assets
Debtors
5
32,439
38,932
Cash at bank and in hand
387,692
195,256
420,131
234,188
Creditors: amounts falling due within one year
6
(1,129,766)
(1,004,555)
Net current liabilities
(709,635)
(770,367)
Total assets less current liabilities
3,793,589
3,732,857
Creditors: amounts falling due after more than one year
7
(3,011,213)
(3,075,698)
Net assets
782,376
657,159
Capital and reserves
Called up share capital
8
35,000
35,000
Profit and loss reserves
747,376
622,159
Total equity
782,376
657,159
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
FULCRUM PROPERTY HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 August 2025 and are signed on its behalf by:
J Hulett
Director
Company Registration No. 14769500
FULCRUM PROPERTY HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 30 March 2023
-
Period ended 31 March 2024:
Profit and total comprehensive income for the period
-
859,210
859,210
Issue of share capital
8
35,000
-
35,000
Dividends
-
(237,051)
(237,051)
Balance at 31 March 2024
35,000
622,159
657,159
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
383,889
383,889
Dividends
-
(258,672)
(258,672)
Balance at 31 March 2025
35,000
747,376
782,376
FULCRUM PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information
Fulcrum Property Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Fulcrum 1, Solent Way, Whiteley, Hampshire, United Kingdom, PO15 7FE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rental income arising on the rental of investment properties.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
FULCRUM PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
FULCRUM PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
4,468,225
The property was purchased on 15 September 2023. The directors believe that the fair value of the property is not materially different from its cost.
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
34,999
34,999
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
32,439
38,932
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
91,802
111,802
Trade creditors
134,974
1,611
Amounts owed to group undertakings
3,074
6,074
Corporation tax
40,739
21,356
Other taxation and social security
21,794
22,241
Other creditors
837,383
841,471
1,129,766
1,004,555
The bank loan is secured by fixed and floating charges over all current and future assets of the company and its subsidiary in favour of National Westminster Bank plc.
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,011,213
3,075,698
The bank loan is secured by fixed and floating charges over all current and future assets of the company and its subsidiary in favour of National Westminster Bank plc.
FULCRUM PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
10,000
10,000
10,000
10,000
Ordinary B Shares of £1 each
15,000
15,000
15,000
15,000
Ordinary C Shares of £1 each
100
100
100
100
Ordinary D Shares of £1 each
4,900
4,900
4,900
4,900
Ordinary E Shares of £1 each
5,000
5,000
5,000
5,000
35,000
35,000
35,000
35,000
1 Ordinary A share of £1 was issued initially on incorporation of the company.
During the previos year a share for share exchange then took place resulting in 9,999 Ordinary A shares of £1 each, 15,000 Ordinary B shares of £1 each, 100 Ordinary C shares of £1 each, 4,900 Ordinary D shares of £1 each and 5,000 Ordinary E shares of £1 each being allotted, with the shareholders of the now subsidiary, Moody Decking and Services Limited, receiving the equivalent shareholding in Fulcrum Property Holdings Ltd, resulting in 10,000 Ordinary A shares, 15,000 Ordinary B shares, 100 Ordinary C shares, 4,900 Ordinary D shares and 5,000 Ordinary E shares in total.