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Registered number: 16091543
NEW FOUNTAINBRIDGE LTD
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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NEW FOUNTAINBRIDGE LTD
COMPANY INFORMATION
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NEW FOUNTAINBRIDGE LTD
CONTENTS
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Independent Auditor's Report
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Statement of Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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NEW FOUNTAINBRIDGE LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The directors present their report and the audited financial statements of New Fountainbridge Ltd ("the company") for the 13 month period from incorporation on 20 November 2024 to 31 December 2025.
The company has taken the exemption available under the Companies Act 2006 section 414b to not prepare a Strategic Report on the basis that it qualifies as a small company.
The company was incorporated on 20 November 2024 and the principal activity of the company is the development and construction of residential properties and to earn rental on the completed property, in the UK.
The loss for the period, after taxation, amounted to £2,434,188.
The directors did not recommend the payment of dividends in the period.
The directors who served during the period, and up to the date of signing this report, were:
I Bischofsberger (appointed 20 November 2024)
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D T Linder (appointed 20 November 2024)
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S P Lindley (appointed 20 November 2024, resigned 19 January 2026)
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Directors' responsibilities statement
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The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law, including FRS 101 ‘Reduced Disclosure Framework’). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs and profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Qualifying third party indemnity provisions
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The company has made qualifying third party indemnity provision for the benefits of its directors, which was in place from incorporation on 20 November 2024 and remains in force at the date of signing this report.
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NEW FOUNTAINBRIDGE LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
The directors of the company have assessed that it is appropriate to adopt the going concern basis of accounting. In reaching this conclusion, the directors have considered cash flow forecasts covering the going concern assessment period of twelve months from the date of signing these financial statements. The company will continue to require parental support. The directors have therefore obtained a parental letter of support, assessed the Interogo Holding AG Group's ("the group") ability to provide that support and concluded that the group has sufficient resources to provide funding the company may require to meet its liabilities, should this be required, throughout the going concern assessment period to 30 September 2027. Therefore, the directors have deemed it appropriate to conclude the entity remains a going concern.
In May 2026, the project's remaining development works were completed.
Disclosure of information to auditor
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The directors confirm that:
∙so far as each director is aware, there is no relevant audit information of which the company's auditor is unaware, and
∙the directors have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The auditor, Ernst & Young LLP, was appointed during the period and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf by:
I Bischofsberger
Director
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NEW FOUNTAINBRIDGE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW FOUNTAINBRIDGE LTD
We have audited the financial statements of New Fountainbridge Ltd (the 'company') for the period ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes 1 to 21, including material accounting policy information. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including FRS 101 “Reduced Disclosure Framework (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
∙give a true and fair view of the company's affairs as at 31 December 2025 and of its loss for the period then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period to 30 September 2027.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company’s ability to continue as a going concern.
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NEW FOUNTAINBRIDGE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW FOUNTAINBRIDGE LTD (CONTINUED)
The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in this report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of the other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the directors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Directors’ Report and from the requirement to prepare a Strategic Report.
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NEW FOUNTAINBRIDGE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW FOUNTAINBRIDGE LTD (CONTINUED)
Responsibilities of directors
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As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework, FRS 101, the Companies Act 2006 and the relevant tax laws and regulations in the UK. In addition, we concluded that there are certain significant laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements relating to health and safety, employee matters and data protection;
∙We understood how the company is complying with those frameworks by making enquiries of management. We corroborated our enquiries through our review of board minutes and consideration of the results of our audit procedures across the company;
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NEW FOUNTAINBRIDGE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW FOUNTAINBRIDGE LTD (CONTINUED)
Auditor's responsibilities for the audit of the financial statements (continued)
∙We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where they considered there was susceptibility to fraud and reviewed the entity level controls in place. We also considered the existence of performance targets and their potential influence on management to manage earnings. We considered the controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how management monitors those controls. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error; and
∙Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved journal entry testing, with a focus on manual journals and journals indicating large or unusual transactions; enquiries of company management; and challenging the assumptions and judgements made by management by reviewing third party evidence wherever possible.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Cara Clancy (Senior Statutory Auditor)
For and on behalf of Ernst & Young LLP, Statutory Auditor
Leeds
17 September 2026
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NEW FOUNTAINBRIDGE LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Interest payable and similar expenses
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Loss for the financial period
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There were no recognised gains and losses for 2025 other than those included in the Statement of Comprehensive Income.
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There was no other comprehensive income for 2025.
All amounts relate to continuing activities.
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The notes on pages 10 to 22 form part of these financial statements.
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NEW FOUNTAINBRIDGE LTD
REGISTERED NUMBER: 16091543
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 10 to 22 form part of these financial statements.
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NEW FOUNTAINBRIDGE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Comprehensive loss for the period
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Contributions by and distributions to owners
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Shares issued during the period
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The notes on pages 10 to 22 form part of these financial statements.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
New Fountainbridge Ltd is a private company limited by shares and incorporated in England and Wales. The company's registered number is 16091543 and its registered head office is 135 High Street, Stratford, London, E15 2RB.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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Financial Reporting Standard 101 - reduced disclosure exemptions
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The company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of IFRS 7 Financial Instruments: Disclosures;
∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement;
∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;
∙the requirement of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total;
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
-paragraph 79(a)(iv) of IAS 1; and
-paragraph 79(a)(iv) of IAS 1; and
∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements;
∙the requirements of IAS 7 Statement of Cash Flows;
∙the requirements of paragraph 74A(b) of IAS 16;
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures;
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member;
∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets; and
∙the requirements of paragraph 88C and 88D of IAS 12 Income Taxes.
This information is included in the consolidated financial statements of Vastint Hospitality B.V. as at 31 December 2025 and these financial statements may be obtained from https://www.kvk.nl/.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The directors of the company have assessed that it is appropriate to adopt the going concern basis of accounting. In reaching this conclusion, the directors have considered cash flow forecasts covering the going concern assessment period of twelve months from the date of signing these financial statements. The company will continue to require parental support. The directors have therefore obtained a parental letter of support, assessed the Interogo Holding AG Group's ("the group") ability to provide that support and concluded that the group has sufficient resources to provide funding the company may require to meet its liabilities, should this be required, throughout the going concern assessment period to 30 September 2027. Therefore, the directors have deemed it appropriate to conclude the entity remains a going concern.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP and all values are rounded to the nearest pound (£) except where otherwise stated.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Turnover is recognised in line with IFRS 16 lessor accounting (note 2.6). All turnover arises in the United Kingdom and comprises rental income.
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Operating leases: the company as lessor
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Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term as part of turnover.
Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Current and deferred taxation
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The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Interogo Holding Group falls under the scope of the OECD Pillar Two legislation, which is already enacted in Switzerland and is expected to be enacted in the near future in the jurisdictions where the group operations.
The company is within the scope of the OECD Pillar Two model rules. Pillar Two legislation was enacted in the United Kingdom the jurisdiction in which the entity is incorporated and is effective from 1 January 2024.
Under the legislation, the group is liable to pay a top-up tax in the UK for the difference between the GloBE effective tax rate for each jurisdiction and the 15% minimum rate. In addition, top-up taxes are payable locally where qualifying domestic minimum top-up taxes have been legislated and are in effect. The company's profits arise within the UK tax jurisdiction and are taxed at 25% therefore no top-up tax is applicable.
The company applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Property is classified as investment property if the intention is to hold the property to earn rentals or for capital appreciation. Investment property is carried at historical cost less accumulated depreciation and any accumulated impairment losses under the cost model allowable under IAS 40. Depreciation is charged to allocate the cost of assets less their residual value over the shorter of the lease or estimated useful lives, using the straight-line method. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged using the straight-line method over the following basis; 33 years for buildings, and 15 years for kitchens.
The company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value.
Debt instruments at amortised cost
Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Impairment of financial assets
The company recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised or at FVOCI. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.
The company always recognises lifetime ECL for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.
Financial liabilities
At amortised cost
Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in the financial statements, when, and if, better information is obtained.
Critical judgements and sources of estimation uncertainty that management have made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relate to the following:
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
3.Judgements in applying accounting policies (continued)
Estimates
∙Impairment (see note 11)
Determine whether there are indicators of impairment of the company's investment properties and inventory. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
∙Tangible fixed assets (see note 12) and Investment property (see note 11)
Tangible fixed assets and investment properties are depreciated over their useful lives taking into account residual values, where appropriate. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In reassessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. The net book value of tangible fixed assets subject to depreciation at the reporting date was £1,984,342 and for investment properties £92,349,352.
Judgements
In the process of preparing the financial statements, no significant judgements were applied.
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An analysis of turnover by class of business is as follows:
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All turnover arose within the United Kingdom.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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The operating loss is stated after charging:
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Depreciation of investment properties
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Depreciation of tangible fixed assets
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During the period, the company obtained the following services from the company's auditor and its associates:
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Fees payable to the company's auditor and its associates for the audit of the company's financial statements
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The company has no employees.
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The directors are also directors of the other group companies and their remuneration is borne by those companies. They consider that the level of these directors' qualifying services to the company as negligible compared to their main roles and as such their remuneration received for services to this entity was £Nil.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Interest payable and similar expenses
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Interest payable on intercompany loans
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Current tax on losses for the period
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Origination and reversal of timing differences
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Taxation on loss on ordinary activities
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
10.Tax on loss (continued)
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Factors affecting tax credit for the period
The tax assessed for the period is higher than the standard rate of corporation tax in the UK of25%. The differences are explained below:
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Loss on ordinary activities before tax
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Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25%
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Expenses not deductible for tax purposes
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Other tax adjustments, reliefs and transfers
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Total tax credit for the period
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Factors that may affect future tax (credits)/charges
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Deferred tax balances have been measured at 25%, being the enacted UK corporation tax rate applicable to future periods at the balance sheet date.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Investment property under construction
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Part of the project was completed during the year, and became available for use effective from 1 October 2025.
The fair value of the development as at the reporting date is £101,700,000. The fair value is determined on a discounted cash flow basis less purchase costs and considers market evidence of comparable property net initial yield.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings incur interest of 4.33%, are unsecured and repayable on demand.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Credited to profit or loss
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The deferred tax asset is made up as follows:
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Fixed asset timing differences
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Losses and other deductions
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Allotted, called up and paid
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40,000,001 Ordinary shares of £1.00 each
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On incorporation, the company issued 1 Ordinary share with a nominal value of £1.00 for a total consideration of £1.
On 30 December 2025, the company issued 40,000,000 Ordinary share with a nominal value of £1.00 for a total consideration of £40,000,000.
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There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.
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NEW FOUNTAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
The company's capital and reserves are as follows:
Called up share capital
Called up share capital represents the nominal value of shares issued.
Profit and loss account
The profit and loss account represents cumulative profits, losses and total other comprehensive income made by the company, including distributions to, and contributions from, the parent company.
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Company as a lessor
The company leases the residential units in note 11 which is classed as an operating lease. This is because there is no significant transfer of the risks and rewards of ownership.
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During the period £196,332 was recognised as rental income by the company and was included as turnover in profit or loss.
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Related party transactions
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The company has taken advantage of the exemption available in FRS 101 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
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In May 2026, the project's remaining development works were completed.
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Ultimate parent undertaking and controlling party
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The company's immediate parent undertaking is Vastint Holding B.V., a company incorporated in The Netherlands.
The ultimate controlling party is Interogo Foundation, a foundation based in Liechtenstein.
The smallest group into which the company was consolidated is headed by Vastint Holding B.V. Copies of the consolidated financial statements can be obtained from Hogehilweg 7, 1101 CA Amsterdam, The Netherlands. The largest group into which the company was consolidated is headed by Interogo Holding AG. Copies of the consolidated financial statements can be obtained from https://www.interogoholding .com/mediaandreports/annual reports to download/.
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