Fortus East Limited - Accounts to registrar (filleted) - small 22.3
Fortus East Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| FORTUS EAST LIMITED |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FORTUS EAST LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 March 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Albion House |
| 32 Pinchbeck Road |
| Spalding |
| Lincolnshire |
| PE11 1QD |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| BALANCE SHEET |
| 31 March 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 and authorised for issue on |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| Fortus East Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is fifteen years. Provision is made for any impairment. |
| This constitutes a changes in accounting policy. Following an internal review which included an assessment of client retention rates, past performance, level of recurring fees and services provided the amortisation period was amended from eight to fifteen years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Website, domain & software is being amortised evenly over its estimated useful life of three years. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Short leasehold - 33% on cost |
| Fixtures and fittings - 20% on cost |
| Computer equipment - 33% on cost |
| Taxation |
| Taxation for the year 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 or deferred taxation assets and liabilities are not discounted. |
| 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. |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 year 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss 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. |
| Going concern |
| After reviewing the company’s forecasts and projections, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore adopts the going concern basis in preparing its financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Impairments | (47,830 | ) | - | (47,830 | ) |
| At 31 March 2022 |
| AMORTISATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2021 |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Other creditors |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax | 21,168 | 17,474 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2021 |
| Provided during year |
| Balance at 31 March 2022 |
| 11. | CALLED UP SHARE CAPITAL |
| The company completed a share capital reorganisation on 31 March 2022. |
| The issued share capital at 31 March 2022 was as follows: |
| 100 A Ordinary shares of £1 each |
| 470 B Ordinary shares of £1 each |
| 85 C Ordinary shares of £1 each |
| The issued share capital at 31 March 2021 was as follows: |
| 100 A1 Ordinary shares of £1 each |
| 400 B1 Ordinary shares of £1 each |
| 95 C1 Ordinary shares of £1 each |
| 100 A2 Ordinary shares of £1 each |
| 139 B2 Ordinary shares of £1 each |
| 76 C2 Ordinary shares of £1 each |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Fortus Holdings Limited. |
| The ultimate controlling party is |