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REGISTERED NUMBER: 10651419 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Fortem Financial Management Limited

Fortem Financial Management Limited (Registered number: 10651419)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fortem Financial Management Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: K D White
Mrs. S White





REGISTERED OFFICE: Unit 7 Faraday Court
Rankine Road
Basingstoke
Hampshire
RG24 8PF





REGISTERED NUMBER: 10651419 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Fortem Financial Management Limited (Registered number: 10651419)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 775,124 801,472
Tangible assets 5 2,022 3,535
Investments 6 - -
777,146 805,007

CURRENT ASSETS
Debtors 7 6,490 7,159
Cash at bank 76,651 97,476
83,141 104,635
CREDITORS
Amounts falling due within one year 8 151,864 136,151
NET CURRENT LIABILITIES (68,723 ) (31,516 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

708,423

773,491

CREDITORS
Amounts falling due after more than one
year

9

(565,064

)

(661,735

)

PROVISIONS FOR LIABILITIES 10 (525 ) -
NET ASSETS 142,834 111,756

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 142,734 111,656
SHAREHOLDERS' FUNDS 142,834 111,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fortem Financial Management Limited (Registered number: 10651419)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 6 March 2024 and were signed on its behalf by:





K D White - Director


Fortem Financial Management Limited (Registered number: 10651419)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Fortem Financial Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year 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.


Fortem Financial Management Limited (Registered number: 10651419)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


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, adjusted for indexation where applicable.

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 year 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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 969,509
AMORTISATION
At 1 January 2023 168,037
Amortisation for year 26,348
At 31 December 2023 194,385
NET BOOK VALUE
At 31 December 2023 775,124
At 31 December 2022 801,472

Fortem Financial Management Limited (Registered number: 10651419)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 6,967
Additions 303
At 31 December 2023 7,270
DEPRECIATION
At 1 January 2023 3,432
Charge for year 1,816
At 31 December 2023 5,248
NET BOOK VALUE
At 31 December 2023 2,022
At 31 December 2022 3,535

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 100
PROVISIONS
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 6,490 7,159

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 96,609 96,609
Taxation and social security 48,669 35,432
Other creditors 6,586 4,110
151,864 136,151

Fortem Financial Management Limited (Registered number: 10651419)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 565,064 661,735

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 178,629 275,300

10. PROVISIONS FOR LIABILITIES
31.12.23
£   
Deferred tax 525

Deferred
tax
£   
Balance at 1 January 2023 (1,769 )
Provided during year 2,294
Accelerated capital allowances
Balance at 31 December 2023 525