Registration number: 03330337

Fulton Estates Limited

Contents
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Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Fulton Estates Limited

Company Information
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Directors

Mr A P Fulton Mrs K M Fulton

 

Company secretary

Mrs K M Fulton

Registered office

104 Princes Park Avenue London NW11 0JX

Accountants

Brooks Green Chartered AccountantsAbbey House 342 Regents Park Road London N3 2LJ

Fulton Estates Limited

(Registration number: 03330337)
Balance Sheet as at 31 March 2025
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	Note	2025 £		2024 £
Fixed assets
Tangible assets	3		3,004,017	3,001,078
Current assets
Stocks	4	2,469,477		2,469,477
Debtors	5	13,447		13,010
Cash at bank and in hand		80,281		28,491
		2,563,205		2,510,978
Creditors: Amounts falling due within one year	6	(648,418)		(852,387)
Net current assets			1,914,787	1,658,591
Total assets less current liabilities			4,918,804	4,659,669
Creditors: Amounts falling due after more than one year	6		(235,000)	(235,000)
Net assets			4,683,804	4,424,669
Capital and reserves
Called up share capital	7	150,000		150,000
Revaluation reserve		(21,736)		(21,736)
Retained earnings		4,555,540		4,296,405
Shareholders' funds			4,683,804	4,424,669

Fulton Estates Limited

(Registration number: 03330337)
Balance Sheet as at 31 March 2025
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For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2025 and signed on its behalf by:
 

......................................... Mr A P Fulton Director

Fulton Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fulton Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Fulton Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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3	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	2,963,361	1,440	48,850	3,013,651
Additions	-	-	16,490	16,490
At 31 March 2025	2,963,361	1,440	65,340	3,030,141
At 1 April 2024	-	-	12,213	12,213
Charge for the year	-	630	13,281	13,911
At 31 March 2025	-	630	25,494	26,124
Carrying amount
At 31 March 2025	2,963,361	810	39,846	3,004,017
At 31 March 2024	2,963,361	1,080	36,637	3,001,078

Included within the net book value of land and buildings above is £2,963,361 (2024 - £2,963,361) in respect of freehold land and buildings.
 

4

Stocks

	2025 £	2024 £
Other inventories	2,469,477	2,469,477

5

Debtors

Current	2025 £	2024 £
Prepayments	13,447	13,010
	13,447	13,010

Fulton Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Directors current account		412,324	626,143
Taxation and social security		87,056	67,596
Other creditors		149,038	158,648
		648,418	852,387
Due after one year
Directors loan account		235,000	235,000

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other financial liabilities	235,000	235,000

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	150,000	150,000	150,000	150,000