Fortus East Limited - Accounts to registrar (filleted) - small 18.2
Fortus East Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE PERIOD 2 APRIL 2020 TO 31 MARCH 2021 |
| FOR |
| FORTUS EAST LIMITED |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Period 2 April 2020 to 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FORTUS EAST LIMITED |
| COMPANY INFORMATION |
| For The Period 2 April 2020 to 31 March 2021 |
| 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 2021 |
| 2021 | 2020 |
| 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 LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| 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 Period 2 April 2020 to 31 March 2021 |
| 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 |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised 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 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. |
| 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. |
| 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. |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Period 2 April 2020 to 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 2 April 2020 |
| Impairments | (9,654 | ) | - | (9,654 | ) |
| At 31 March 2021 |
| AMORTISATION |
| Charge for period |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 1 April 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 2 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 2 April 2020 |
| Charge for period |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 1 April 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| FORTUS EAST LIMITED (REGISTERED NUMBER: 12167234) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Period 2 April 2020 to 31 March 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| 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 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |