REGISTERED NUMBER: 01827346 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Fountain Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J P Morgan

Mr T J Morgan

Miss E J Morgan

Miss N H Morgan

REGISTERED OFFICE:

12 Egliston Road

Putney

London

SW15 1AL

REGISTERED NUMBER:

01827346 (England and Wales)

ACCOUNTANTS:

Pigram & Co

43 Bluebell Drive

Stansted

Essex

CM24 8XP

FIXED ASSETS

Tangible assets

4

6,428,209

6,314,599

CURRENT ASSETS

Debtors

5

1,448

8,423

Cash at bank

710,361

862,980

711,809

871,403

CREDITORS

Amounts falling due within one year

6

1,376,817

1,129,450

NET CURRENT LIABILITIES

(665,008

)

(258,047

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,763,201

6,056,552

CREDITORS

Amounts falling due after more than one year

7

(58,299

)

(96,355

)

PROVISIONS FOR LIABILITIES

-

(92,744

)

NET ASSETS

5,704,902

5,867,453

CAPITAL AND RESERVES

Called up share capital

8

701

701

Revaluation reserve

9

-

370,976

Retained earnings

9

5,704,201

5,495,776

SHAREHOLDERS' FUNDS

5,704,902

5,867,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th April 2025 and were signed on its behalf by:

Mrs J P Morgan - Director

Mr T J Morgan - Director

1.	STATUTORY INFORMATION

Fountain Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Ground

and

Motor

property

rents

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1st January 2024

6,305,915

450

13,391

13,995

6,333,751

Additions

486,645

-

-

-

486,645

Revaluations

(370,976

)

-

-

-

(370,976

)

At 31st December 2024

6,421,584

450

13,391

13,995

6,449,420

DEPRECIATION

At 1st January 2024

-

-

7,648

11,504

19,152

Charge for year

-

-

1,436

623

2,059

At 31st December 2024

-

-

9,084

12,127

21,211

NET BOOK VALUE

At 31st December 2024

6,421,584

450

4,307

1,868

6,428,209

At 31st December 2023

6,305,915

450

5,743

2,491

6,314,599

Cost or valuation at 31st December 2024 is represented by:

Fixtures

Freehold

Ground

and

Motor

property

rents

fittings

vehicles

Totals

£

£

£

£

£

Cost

6,321,584

450

13,391

13,995

6,349,420

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

FREEHOLD PROPERTY

'COST' ACCOUNT TOTAL

Cost/valuation b/f

6,305,915

Additions

486,645

Revaluations

(370,976

)

6,421,584

CLIENT SCREEN TOTAL

=

6,321,584

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

-

8,423

Other debtors

1,448

-

1,448

8,423

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Payments on account

28,254

28,254

Trade creditors

33,296

-

Tax

35,865

90,544

Social security and other taxes

306

167

Wage control account

666

667

VAT

1,479

7,881

Other creditors

48,000

84,000

Directors' current accounts

925,451

814,787

Accrued expenses

303,500

103,150

1,376,817

1,129,450

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Other creditors

58,299

96,355

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

701

Ordinary

£1

701

701

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1st January 2024

5,495,776

370,976

5,866,752

Profit for the year

208,425

208,425

Disposal

-

(370,976

)

(370,976

)

At 31st December 2024

5,704,201

-

5,704,201