Fortna UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02619692 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2018 TO 28 DECEMBER 2018

FOR

FORTNA UK LIMITED

PREVIOUSLY KNOWN AS

THE LOGISTICS BUSINESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F Lander

B Malamud

N Pianetto

J White III

REGISTERED OFFICE:

The Pinnacle

170 Midsummer Boulevard

Milton Keynes

MK9 1FE

REGISTERED NUMBER:

02619692 (England and Wales)

AUDITORS:

Baker Noel Limited

Statutory Auditor

Cheribourne House

45A Station Road

Willington

Bedford

Bedfordshire

MK44 3QL

FIXED ASSETS

Tangible assets

4

33,658

37,983

CURRENT ASSETS

Debtors

5

4,307,591

647,931

Cash at bank

421,827

60,257

4,729,418

708,188

CREDITORS

Amounts falling due within one year

6

4,157,521

347,150

NET CURRENT ASSETS

571,897

361,038

TOTAL ASSETS LESS CURRENT LIABILITIES

605,555

399,021

PROVISIONS FOR LIABILITIES

2,516

2,916

NET ASSETS

603,039

396,105

CAPITAL AND RESERVES

Called up share capital

33,000

33,000

Capital redemption reserve

52,700

52,700

Retained earnings

517,339

310,405

SHAREHOLDERS' FUNDS

603,039

396,105

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 9 August 2019 and were signed on its behalf by:

B Malamud - Director

1.	STATUTORY INFORMATION

Fortna UK 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

The turnover shown in the profit and loss account represents the amount of goods and services provided during

the year, exclusive of Value Added Tax.

In respect of contracts for on-going services, turnover represents the value of work done in the year including

estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by

reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

The period of the lease

Fixtures and fittings

-

Straight line over 7 years

Computer equipment

-

Straight line over 3 years

All fixed assets are initially recorded at cost.

Taxation

Taxation for the period 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 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 period 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.

Operating lease agreements

Amounts applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2017 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2018

24,999

9,268

23,525

57,792

Additions

-

-

2,698

2,698

At 28 December 2018

24,999

9,268

26,223

60,490

DEPRECIATION

At 1 January 2018

2,084

875

16,850

19,809

Charge for period

2,499

1,324

3,200

7,023

At 28 December 2018

4,583

2,199

20,050

26,832

NET BOOK VALUE

At 28 December 2018

20,416

7,069

6,173

33,658

At 31 December 2017

22,915

8,393

6,675

37,983

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.12.18

31.12.17

£

£

Trade debtors

4,106,141

552,161

Amounts owed by group undertakings

186,541

84,480

Other debtors

14,909

11,290

4,307,591

647,931

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.12.18

31.12.17

£

£

Trade creditors

2,631,862

10,005

Amounts owed to group undertakings

887,193

157,522

Taxation and social security

577,437

129,773

Other creditors

61,029

49,850

4,157,521

347,150

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Clive S Noel (Senior Statutory Auditor)

for and on behalf of Baker Noel Limited

8.	RELATED PARTY DISCLOSURES