1 July 2021 false No description of principal activity Taxfiler 2022.8.3 07111144business:PrivateLimitedCompanyLtd2021-07-012022-06-30 071111442021-06-30 071111442021-07-012022-06-30 07111144business:AuditExempt-NoAccountantsReport2021-07-012022-06-30 07111144business:FullAccounts2021-07-012022-06-30 071111442022-06-30 07111144business:Director12021-07-012022-06-30 07111144business:Director22021-07-012022-06-30 07111144business:RegisteredOffice2021-07-012022-06-30 071111442021-06-30 07111144core:WithinOneYear2022-06-30 07111144core:WithinOneYear2021-06-30 07111144core:AfterOneYear2022-06-30 07111144core:AfterOneYear2021-06-30 07111144core:ShareCapital2022-06-30 07111144core:ShareCapital2021-06-30 07111144core:RetainedEarningsAccumulatedLosses2022-06-30 07111144core:RetainedEarningsAccumulatedLosses2021-06-30 07111144business:SmallEntities2021-07-012022-06-30 07111144countries:EnglandWales2021-07-012022-06-30 07111144core:ComputerEquipment2021-07-012022-06-30 07111144core:IntangibleAssetsOtherThanGoodwill2021-06-30 07111144core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-30 07111144core:IntangibleAssetsOtherThanGoodwill2022-06-30 07111144core:ComputerEquipment2021-06-30 07111144core:ComputerEquipment2022-06-30 07111144core:AdditionsToInvestments2022-06-30 07111144core:RevaluationsIncreaseDecreaseInInvestments2022-06-30 071111442020-07-012021-06-30 iso4217:GBP xbrli:pure
Company Registration No. 07111144 (England and Wales)
Wealth Fortress 1 Ltd Unaudited accounts for the year ended 30 June 2022
Wealth Fortress 1 Ltd Unaudited accounts Contents
Page
- 2 -
Wealth Fortress 1 Ltd Company Information for the year ended 30 June 2022
Directors
Terence Franks Iain Stamp
Company Number
07111144 (England and Wales)
Registered Office
61 VICTORIA ROAD SURBITON KT6 4JX ENGLAND
Accountants
Richard McIntosh 5 South Charlotte Street Edinburgh EH2 4AN
- 3 -
Wealth Fortress 1 Ltd Statement of financial position as at 30 June 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
238,455 
121,637 
Tangible assets
17,788 
- 
Investments
350,922 
8,326 
607,165 
129,963 
Current assets
Debtors
595,548 
349,557 
Cash at bank and in hand
30,579 
124,477 
626,127 
474,034 
Creditors: amounts falling due within one year
(152,190)
55,274 
Net current assets
473,937 
529,308 
Total assets less current liabilities
1,081,102 
659,271 
Creditors: amounts falling due after more than one year
(63,000)
(196,267)
Net assets
1,018,102 
463,004 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,018,101 
463,003 
Shareholders' funds
1,018,102 
463,004 
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2022 and were signed on its behalf by
Terence Franks Director Company Registration No. 07111144
- 4 -
Wealth Fortress 1 Ltd Notes to the Accounts for the year ended 30 June 2022
1
Statutory information
Wealth Fortress 1 Ltd is a private company, limited by shares, registered in England and Wales, registration number 07111144. The registered office is 61 VICTORIA ROAD, SURBITON, KT6 4JX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% on cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 5 -
Wealth Fortress 1 Ltd Notes to the Accounts for the year ended 30 June 2022
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2021
128,874 
Additions
182,265 
Disposals
(50,000)
At 30 June 2022
261,139 
Amortisation
At 1 July 2021
7,237 
Charge for the year
15,447 
At 30 June 2022
22,684 
Net book value
At 30 June 2022
238,455 
At 30 June 2021
121,637 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2021
- 
Additions
26,680 
At 30 June 2022
26,680 
Depreciation
Charge for the year
8,892 
At 30 June 2022
8,892 
Net book value
At 30 June 2022
17,788 
6
Investments
Other investments 
£ 
Valuation at 1 July 2021
8,326 
Additions
342,364 
Fair value adjustments
232 
Valuation at 30 June 2022
350,922 
7
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Amounts due from group undertakings etc.
491,472 
323,972 
Accrued income and prepayments
- 
6,436 
Other debtors
104,076 
19,149 
595,548 
349,557 
- 6 -
Wealth Fortress 1 Ltd Notes to the Accounts for the year ended 30 June 2022
8
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
35,209 
43,750 
Taxes and social security
129,006 
- 
Loans from directors
(12,624)
(121,000)
Accruals
599 
21,976 
152,190 
(55,274)
9
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Other creditors
63,000 
70,000 
Taxes and social security
- 
126,267 
63,000 
196,267 
10
Average number of employees
During the year the average number of employees was 2 (2021: 2).
- 7 -