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Registration number: 10734652

Fountain Rose Limited Unaudited Financial Statements for the Year Ended 31 May 2025
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Fountain Rose Limited

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 6

Fountain Rose Limited

Company Information

Directors | Mustafa Kassam Somji Ismat Mustafa Kassam Hussain Kassam Abbas Mustafa Kassam

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Fountain Rose Limited

Statement of Financial Position as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 4 | 1,900,000 | 1,900,000
Investments | 5 | 4 | -
|  | 1,900,004 | 1,900,000
Current assets |  |  |
Debtors | 6 | 2,058,518 | 24,137
Cash at bank and in hand |  | 374,394 | 120,804
|  | 2,432,912 | 144,941
Creditors: Amounts falling due within one year | 7 | (4,887,139) | (2,651,370)
Net current liabilities |  | (2,454,227) | (2,506,429)
Net liabilities |  | (554,223) | (606,429)
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Retained earnings |  | (555,223) | (607,429)
Shareholders' deficit |  | (554,223) | (606,429)

For the financial year ending 31 May 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Fountain Rose Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Fountain Rose Limited

Statement of Financial Position as at 31 May 2025

Approved and authorised by the Board on 20 February 2026 and signed on its behalf by:

.........................................

Mustafa Kassam Somji

Director

Company registration number: 10734652

Fountain Rose Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property investment.

2 | Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 May 2025 and had a net deficiency of assets amounting to £554,223 at that date.
The company funds its working capital requirements by loans from a director which amounted to £4,647,229 at 31 May 2025. The director has confirmed that they will not seek repayment until such time as the company has sufficient working capital.
The company has continued to receive rental income during the year and no matters have been drawn to the attention of the directors to suggest that this income and funding from the directors will not continue on acceptable terms in the future.
On the basis of the above and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax.
The company recognises revenue from rental income evenly over the period of the lease or licence.

Fountain Rose Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Tax

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate estimated annually by the directors based upon a professional valuation. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

3 | Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

Fountain Rose Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4 | Investment properties

Fair value | 2025 £
At 1 June 2024 | 1,900,000
At 31 May 2025 | 1,900,000

The investment property is included at fair value at 31 May 2025 at an amount of £1,900,000 as estimated by the directors based on a professional valuation.

5 | Investments

| 2025 £ | 2024 £
Other investments | 4 | -

6 | Debtors

| 2025 £ | 2024 £
Other debtors | 2,058,518 | 24,137
| 2,058,518 | 24,137

Other debtors includes an amount of £420,778 (2024: £Nil) due in greater than 1 year.

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | - | 600
Other creditors | 4,887,139 | 2,650,770
| 4,887,139 | 2,651,370

8 | Non adjusting events after the financial period

Subsequent to the year end, the company purchased additional investment properties at a cost of £7,220,338.