Fountaingate Properties Limited Company Accounts

FOUNTAINGATE PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03229709

Fountaingate Properties Limited

Filleted Unaudited Financial Statements

30 June 2017

Fountaingate Properties Limited

Financial Statements

Year ended 30 June 2017

Contents	Page

Officers and professional advisers	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Fountaingate Properties Limited

Officers and Professional Advisers

The board of directors	A G E Reynolds
	Mrs J E Reynolds

Company secretary	Mrs J E Reynolds

Registered office	17-19 Station Road West
	Oxted
	Surrey
	RH8 9EE

Accountants	Baulf-James
	Chartered accountant
	17-19 Station Road West
	Oxted
	Surrey
	RH8 9EE

Fountaingate Properties Limited

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Fountaingate Properties Limited

Year ended 30 June 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fountaingate Properties Limited for the year ended 30 June 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Fountaingate Properties Limited, as a body, in accordance with the terms of our engagement letter dated 30 June 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Fountaingate Properties Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fountaingate Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fountaingate Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fountaingate Properties Limited. You consider that Fountaingate Properties Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Fountaingate Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Baulf-James Chartered accountant

17-19 Station Road West Oxted Surrey RH8 9EE

21 February 2018

Fountaingate Properties Limited

Statement of Financial Position

30 June 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	229,396	229,756

Current assets

Debtors	6	463	503
Cash at bank and in hand		2,389	6,264
		-------	-------
		2,852	6,767

Creditors: amounts falling due within one year	7	152,013	158,196
		---------	---------
Net current liabilities		149,161	151,429
		---------	---------
Total assets less current liabilities		80,235	78,327

Provisions

Taxation including deferred tax	91	163
	--------	--------
Net assets	80,144	78,164
	--------	--------

Capital and reserves

Called up share capital	900	900
Profit and loss account	79,244	77,264
	--------	--------
Shareholders funds	80,144	78,164
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2017 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Fountaingate Properties Limited

Statement of Financial Position (continued)

30 June 2017

These financial statements were approved by the board of directors and authorised for issue on 21 February 2018 , and are signed on behalf of the board by:

A G E Reynolds
Director

Company registration number: 03229709

Fountaingate Properties Limited

Notes to the Financial Statements

Year ended 30 June 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17-19 Station Road West, Oxted, Surrey, RH8 9EE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property letting.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures, fittings & equipment	-	15% straight line

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 July 2016 and 30 June 2017	228,941	4,916	233,857
	---------	-------	---------
Depreciation
At 1 July 2016	–	4,101	4,101
Charge for the year	–	360	360
	---------	-------	---------
At 30 June 2017	–	4,461	4,461
	---------	-------	---------
Carrying amount
At 30 June 2017	228,941	455	229,396
	---------	-------	---------
At 30 June 2016	228,941	815	229,756
	---------	-------	---------

6. Debtors

	2017	2016
	£	£
Other debtors	463	503
	----	----

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	558	2,310
Other creditors	151,455	155,886
	---------	---------
	152,013	158,196
	---------	---------

8. Related party transactions

The company was under the control of A G E Reynolds (Director) and his wife Mrs J E Reynolds (Director) throughout the current and previous year. A G E Reynolds together with his wife Mrs J E Reynolds are the majority shareholders. No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.