REGISTERED NUMBER: 01852956 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

FOUNTAIN ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Gillam

H P Gillam

SECRETARY:

J D Bell

REGISTERED OFFICE:

Tower House

Fishergate

York

YO10 4UA

REGISTERED NUMBER:

01852956 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

4

11,281

15,041

CURRENT ASSETS

Stock

5

3,624,661

3,226,531

Debtors

6

40,474

31,568

Cash at bank

22,848

104,166

3,687,983

3,362,265

CREDITORS

Amounts falling due within one year

7

525,373

404,294

NET CURRENT ASSETS

3,162,610

2,957,971

TOTAL ASSETS LESS CURRENT LIABILITIES

3,173,891

2,973,012

PROVISIONS FOR LIABILITIES

2,820

3,760

NET ASSETS

3,171,071

2,969,252

CAPITAL AND RESERVES

Called up share capital

8

143

143

Share premium

9

148,457

148,457

Retained earnings

9

3,022,471

2,820,652

SHAREHOLDERS' FUNDS

3,171,071

2,969,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 23 December 2025 and were signed on its behalf by:

C J Gillam - Director

1.	STATUTORY INFORMATION

Fountain Estates 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.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is calculated to write off the assets over their estimated useful lives at the following annual rates:

Fixtures, fittings and equipment - 20% on cost

Stocks

Stock of properties is stated at the lower of cost and net realisable value.

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.

Rents receivable

Rents receivable on let properties are accounted for in the periods to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

29,965

DEPRECIATION

At 1 April 2024

14,924

Charge for year

3,760

At 31 March 2025

18,684

NET BOOK VALUE

At 31 March 2025

11,281

At 31 March 2024

15,041

5.

STOCK

Stock consists of properties held for resale and is subject to legal charges and a debenture in favour of The Royal Bank of Scotland plc to support company borrowing facilities.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

32,717

25,443

Other debtors

3,380

2,165

Prepayments and accrued income

4,377

3,960

40,474

31,568

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trust fund loan

61,587

61,587

Corporation tax

78,047

57,326

Social security and other taxes

9,258

8,405

Other creditors

317,496

225,890

Accruals and deferred income

58,985

51,086

525,373

404,294

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

143

Ordinary

£1

143

143

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2024

2,820,652

148,457

2,969,109

Profit for the year

201,819

201,819

At 31 March 2025

3,022,471

148,457

3,170,928

10.	RELATED PARTY DISCLOSURES

C J Gillam has a beneficial interest in the £61,587 (2024 - £61,587) trust fund loan, which is interest free.

Other creditors include interest free balances of £235,886 (2024 - £222,788) and £80,000 (2024 - nil) due to Tower Corporation Limited and Fountain Developments Limited respectively. C J Gillam is a director of and has a share interest in both of these companies.

Other creditors include an interest free balance of £1,176 (2024 - £1,176) due to J D Bell.

Other debtors include an interest free balance of £652 due from C J Gillam.