Registered number
04439995
Fortyhill Ltd
Filleted Abridged Accounts
31 October 2018
Fortyhill Ltd
Registered number: 04439995
Abridged Balance Sheet
as at 31 October 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 4 1,573 120
Current assets
Debtors 341 -
Cash at bank and in hand 48,255 55,549
48,596 55,549
Creditors: amounts falling due within one year (11,026) (13,598)
Net current assets 37,570 41,951
Net assets 39,143 42,071
Capital and reserves
Called up share capital 200 200
Profit and loss account 38,943 41,871
Shareholders' funds 39,143 42,071
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
M Day
Director
Approved by the board on 13 November 2018
Fortyhill Ltd
Notes to the Abridged Accounts
for the year ended 31 October 2018
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Office equipment 20% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2018 2017
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2017 30,000
At 31 October 2018 30,000
Amortisation
At 1 November 2017 30,000
At 31 October 2018 30,000
Net book value
At 31 October 2018 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Total
£
Cost
At 1 November 2017 3,707
Additions 2,061
At 31 October 2018 5,768
Depreciation
At 1 November 2017 3,587
Charge for the year 608
At 31 October 2018 4,195
Net book value
At 31 October 2018 1,573
At 31 October 2017 120
5 Other information
Fortyhill Ltd is a private company limited by shares and incorporated in England. Its registered office is:
38 High Street
Watton
Norfolk
IP25 6AE
Fortyhill Ltd 04439995 false 2017-11-01 2018-10-31 2018-10-31 VT Final Accounts March 2018 M Day No description of principal activity 04439995 2016-11-01 2017-10-31 04439995 core:WithinOneYear 2017-10-31 04439995 core:ShareCapital 2017-10-31 04439995 core:RetainedEarningsAccumulatedLosses 2017-10-31 04439995 2017-11-01 2018-10-31 04439995 bus:PrivateLimitedCompanyLtd 2017-11-01 2018-10-31 04439995 bus:AuditExemptWithAccountantsReport 2017-11-01 2018-10-31 04439995 bus:Director40 2017-11-01 2018-10-31 04439995 2 2017-11-01 2018-10-31 04439995 countries:England 2017-11-01 2018-10-31 04439995 bus:FRS102 2017-11-01 2018-10-31 04439995 bus:AbridgedAccounts 2017-11-01 2018-10-31 04439995 2018-10-31 04439995 core:WithinOneYear 2018-10-31 04439995 core:ShareCapital 2018-10-31 04439995 core:RetainedEarningsAccumulatedLosses 2018-10-31 04439995 core:Goodwill 2018-10-31 04439995 2017-10-31 04439995 core:Goodwill 2017-10-31 iso4217:GBP xbrli:pure