Registered number
12143844
THE FORTUNEM LTD
Filleted Accounts
31 May 2022
THE FORTUNEM LTD
Registered number: 12143844
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 985 1,059
Current assets
Debtors 4 18,660 8,925
Cash at bank and in hand 25,261 9,538
43,921 18,463
Creditors: amounts falling due within one year 5 (28,856) (12,780)
Net current assets 15,065 5,683
Total assets less current liabilities 16,050 6,742
Creditors: amounts falling due after more than one year 6 (5,612) (6,600)
Net assets 10,438 142
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,338 42
Shareholder's funds 10,438 142
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 member has 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.
Firat Murat SEVIL
Director
Approved by the board on 13 August 2022
THE FORTUNEM LTD
Notes to the Accounts
for the year ended 31 May 2022
1 Accounting policies
Basis of preparation
The 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. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Equipment 18% per annum (reducing balance method)
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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 corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 June 2021 1,386
At 31 May 2022 1,386
Depreciation
At 1 June 2021 327
Charge for the year 74
At 31 May 2022 401
Net book value
At 31 May 2022 985
At 31 May 2021 1,059
4 Debtors 2022 2021
£ £
Trade debtors 18,660 8,925
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 1,856 2,113
Taxation and social security costs 6,161 2,118
Other creditors 20,839 8,549
28,856 12,780
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 5,612 6,600
7 Other information
THE FORTUNEM LTD is a private company limited by shares and incorporated in England. Its registered office is:
C/o - Unit 4 , Kinetica
13 Ramsgate Street
London
E8 2FD
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