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Registration number: 11625876

Fulmar Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Fulmar Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

Fulmar Limited

(Registration number: 11625876)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 11,320 | 449
Current assets |  |  |
Stocks |  | 162,018 | 188,416
Debtors | 5 | 7,334 | 9,173
Cash at bank and in hand |  | 476 | 3,690
|  | 169,828 | 201,279
Creditors: Amounts falling due within one year | 6 | (236,337) | (162,410)
Net current (liabilities)/assets |  | (66,509) | 38,869
Total assets less current liabilities |  | (55,189) | 39,318
Provisions for liabilities |  | (2,834) | (116)
Net (liabilities)/assets |  | (58,023) | 39,202
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Retained earnings |  | (58,025) | 39,200
Shareholders' (deficit)/funds |  | (58,023) | 39,202

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.

Fulmar Limited

(Registration number: 11625876)
Balance Sheet as at 31 March 2025

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’.

Approved and authorised by the Board on 16 March 2026 and signed on its behalf by:

......................................... Mr D R D Oppenheim Director

Fulmar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Elm Farm
Hamstead Marshall
Newbury
Berkshire
RG20 0HR
England

2 | 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis, based on the continued support of the directors.

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.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

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.

Fulmar Limited

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

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% straight line
Computer equipment | 33% straight line

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 (including directors) during the year, was 1 (2024 - 2).

Fulmar Limited

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

4 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 April 2024 | - | 5,050 | 2,543 | 7,593
Additions | 6,988 | 5,075 | - | 12,063
At 31 March 2025 | 6,988 | 10,125 | 2,543 | 19,656
Depreciation
At 1 April 2024 | - | 4,601 | 2,543 | 7,144
Charge for the year | - | 1,192 | - | 1,192
At 31 March 2025 | - | 5,793 | 2,543 | 8,336
Carrying amount
At 31 March 2025 | 6,988 | 4,332 | - | 11,320
At 31 March 2024 | - | 449 | - | 449

5 | Debtors

| 2025 £ | 2024 £
Other debtors | 7,334 | 9,173
| 7,334 | 9,173

Fulmar Limited

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

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 7,661 | 38,914
Taxation and social security | 418 | 3,011
Other creditors | 228,258 | 120,485
| 236,337 | 162,410

7 | Related party transactions

Other transactions with directors

As at 31 March 2025 the company owed the directors £220,798 (2024: £115,934).