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Logo On Report
Registered Number: 09894692
England and Wales

 

 

 

FORTUNE B ELITE INDUSTRIES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Fortune B Elite Limited for the year ended 30 November 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fortune B Elite Limited for the year ended 30 November 2022] which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Fortune B Elite Limited , as a body, in accordance with the terms of our engagement letter dated 07 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of Fortune B Elite Limited and state those matters that we have agreed to state to the Board of Directors of Fortune B Elite Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fortune B Elite Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fortune B Elite Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Fortune B Elite Limited. You consider that Fortune B Elite Limited is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Fortune B Elite Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
T & K Accounting Group
69 Banstead Road
Carshalton
SM5 3NP
07 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Stocks   1,390 
Debtors: amounts falling due within one year 100    50 
Cash at bank and in hand 26    196 
126    1,636 
Creditors: amount falling due within one year (11,523)   (10,440)
Net current assets (11,397)   (8,804)
 
Total assets less current liabilities (11,397)   (8,804)
Net assets (11,397)   (8,804)
 

Capital and reserves
     
Called up share capital 3 100    100 
Profit and loss account (11,497)   (8,904)
Shareholders' funds (11,397)   (8,804)
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 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).
The financial statements were approved by the board of directors on 07 August 2024 and were signed on its behalf by:


-------------------------------
Christopher Bankole
Director
2
General Information
Fortune B Elite Industries LTD is a private company, limited by shares, registered in England and Wales, registration number 09894692, registration address 71-75 Shelton Street, Covent Garden, , London, WC2H 9JQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees


Average number of employees during the year was 0 (2022 : 0).
3.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

4.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Barclays Black Limited63 113 50 
3