REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
FOR |
FORTNA UK LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
FOR |
FORTNA UK LIMITED |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 |
FORTNA UK LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Cheribourne House |
45A Station Road |
Willington |
Bedford |
Bedfordshire |
MK44 3QL |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
STRATEGIC REPORT |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
The directors present their strategic report for the period 2 January 2022 to 31 December 2022. |
REVIEW OF BUSINESS |
The company continued to service its contracts with large retail companies by the implementation of logistics distribution within their warehousing. |
The accounts for the year are reflecting a further increase in turnover to £70.3 million. The company incurred additional costs with one of its contracts and has resulted in the company reporting a loss for the period of £0.1 million. |
The company has maintained a strong financial position, with net assets of £5.6 million. |
PRINCIPAL RISKS AND UNCERTAINTIES |
In line with many other companies the main risks are identified as: |
- Foreign exchange risk - the company operates in multiple currencies throughout the group. There is a risk of fluctuation in the exchange rate, which may affect profitability. The Directors continuously monitor the foreign exchange risk. |
- Macroeconomic risk - there are various global and UK uncertainties due to inflationary pressure, due to global conflict and uncertainty that have an effect on the economy. This has included pressure on energy costs and the ongoing recovery from the COVID pandemic. The Directors monitor these pressures and incorporate planning to mitigate any potential issues that may arise for the company. |
FUTURE DEVELOPMENTS |
During the year Fortna UK Limited signed various new multi million pound contracts, which will be implemented over the next few years. |
With the commencement of the new contracts in the current financial year, the directors are expecting an increase in turnover and profitability. |
POST BALANCE SHEET EVENTS |
There were no significant post balance sheet events. |
ON BEHALF OF THE BOARD: |
27 September 2023 |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
The directors present their report with the financial statements of the company for the period 2 January 2022 to 31 December 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of providing consultancy and implementation services in warehousing, distribution and supply chain management. |
DIVIDENDS |
No dividends will be distributed for the period ended 31 December 2022. |
DIRECTORS |
DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
FORTNA UK LIMITED |
Opinion |
We have audited the financial statements of Fortna UK Limited (the 'company') for the period ended 31 December 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 December 2022 and of its loss for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
FORTNA UK LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
FORTNA UK LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: |
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud, error or design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. |
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern. |
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (ie. gives a true and fair view). |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
FORTNA UK LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditor |
Cheribourne House |
45A Station Road |
Willington |
Bedford |
Bedfordshire |
MK44 3QL |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
INCOME STATEMENT |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING (LOSS)/PROFIT | 5 | ( |
) |
Interest receivable and similar income |
(123,795 | ) | 2,735,028 |
Interest payable and similar expenses | 6 |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit | 7 |
(LOSS)/PROFIT FOR THE FINANCIAL PERIOD |
( |
) |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
OTHER COMPREHENSIVE INCOME |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
Notes | £ | £ |
(LOSS)/PROFIT FOR THE PERIOD | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
( |
) |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
BALANCE SHEET |
31 DECEMBER 2022 |
31.12.22 | 1.1.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Capital redemption reserve | 14 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 3 January 2021 |
Changes in equity |
Total comprehensive income | - |
Balance at 1 January 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 December 2022 |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
CASH FLOW STATEMENT |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Movement in intercompany balance | ( |
) |
Net cash from financing activities | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of period |
2 |
7,695,117 |
Cash and cash equivalents at end of period |
2 |
8,741,517 |
16,099,114 |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
(Loss)/profit before taxation | ( |
) |
Depreciation charges |
Finance costs | 1,348 | - |
Finance income | (12,141 | ) | - |
(72,575 | ) | 2,766,460 |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Period ended 31 December 2022 |
31.12.22 | 2.1.22 |
£ | £ |
Cash and cash equivalents | 8,741,517 | 16,099,114 |
Period ended 1 January 2022 |
1.1.22 | 3.1.21 |
£ | £ |
Cash and cash equivalents | 16,099,114 | 7,695,117 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 2.1.22 | Cash flow | At 31.12.22 |
£ | £ | £ |
Net cash |
Cash at bank | 16,099,114 | (7,357,597 | ) | 8,741,517 |
16,099,114 | ( |
) | 8,741,517 |
Total | 16,099,114 | (7,357,597 | ) | 8,741,517 |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Fortna UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirement of paragraph 33.7. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Bad Debt Provision |
Management continually assess contracts and associated debtors, and a provision is made for any debts that are considered doubtful at the year end. The provision is calculated on a contract by contract basis. |
Contracts and Work in Progress |
Management assess the progress of each contract regularly, and recognise the revenue and profit on each contract by reference to stage of completion. Any contract work in progress at the year end is recognised on the balance sheet. |
Turnover |
The turnover shown in the profit and loss account represents the amount of goods and services provided during the year, exclusive of Value Added Tax. |
In respect of contracts for on-going services, turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
All fixed assets are initially recorded 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 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. |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 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 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. |
Operating lease agreements |
Amounts applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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. |
3. | TURNOVER |
The turnover and loss (2022 - profit) before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
United Kingdom |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees and directors during the period was 52 (2021 - 38). |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
Directors' remuneration |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
5. | OPERATING (LOSS)/PROFIT |
The operating loss (2022 - operating profit) is stated after charging: |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Auditors' remuneration |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
Interest on late paid tax |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the loss for the period was as follows: |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on (loss)/profit |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
7. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
Period | Period |
2.1.22 | 3.1.21 |
to | to |
31.12.22 | 1.1.22 |
£ | £ |
(Loss)/profit before tax | ( |
) |
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of |
( |
) |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Utilisation of tax losses | ( |
) |
Deferred tax movement |
Tax loss carried forward |
Total tax charge | 18,828 | 515,539 |
8. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 2 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 2 January 2022 |
Charge for period |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 1 January 2022 |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 1.1.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 1.1.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax | ( |
) | ( |
) |
Social security and other taxes |
VAT |
Other creditors |
Deferred income |
Accrued expenses |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.22 | 1.1.22 |
£ | £ |
Within one year |
Between one and five years |
12. | PROVISIONS FOR LIABILITIES |
31.12.22 | 1.1.22 |
£ | £ |
Deferred tax | 25,075 | 6,247 |
Deferred |
tax |
£ |
Balance at 2 January 2022 |
Accelerated capital allowances | 18,828 |
Balance at 31 December 2022 |
FORTNA UK LIMITED (REGISTERED NUMBER: 02619692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 DECEMBER 2022 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 1.1.22 |
value: | £ | £ |
Ordinary £1 'A' shares | 1 | 33,000 | 33,000 |
14. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 2 January 2022 | 5,682,889 |
Deficit for the period | ( |
) | ( |
) |
At 31 December 2022 | 5,538,918 |
15. | ULTIMATE PARENT COMPANY |
Fortna Group, Inc (incorporated in |
TLB Consulting International Limited is the immediate parent company. |
The parent company that draws up the consolidated financial statements for the group is Fortna Inc. Their registered office address is: |
1349 W Peachtree St. NW |
Suite 1300 |
Atlanta |
GA 30309 |
16. | RELATED PARTY DISCLOSURES |
The ultimate controlling party is |