1 January 2023 false No description of principal activity Taxfiler 2024.5 08804584business:PrivateLimitedCompanyLtd2023-01-012023-12-31 088045842022-12-31 088045842023-01-012023-12-31 08804584business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 08804584business:FilletedAccounts2023-01-012023-12-31 088045842023-12-31 08804584business:Director12023-01-012023-12-31 08804584business:RegisteredOffice2023-01-012023-12-31 088045842022-12-31 08804584core:WithinOneYear2023-12-31 08804584core:WithinOneYear2022-12-31 08804584core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 08804584core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 08804584core:RevaluationReservecore:PreviouslyStatedAmount2023-12-31 08804584core:RevaluationReservecore:PreviouslyStatedAmount2022-12-31 08804584core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 08804584core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 08804584core:PreviouslyStatedAmount2023-12-31 08804584core:PreviouslyStatedAmount2022-12-31 08804584business:SmallEntities2023-01-012023-12-31 08804584countries:EnglandWales2023-01-012023-12-31 08804584core:PlantMachinery2023-01-012023-12-31 08804584core:FurnitureFittings2023-01-012023-12-31 08804584core:ComputerEquipment2023-01-012023-12-31 08804584core:PlantMachinery2022-12-31 08804584core:MotorVehicles2022-12-31 08804584core:FurnitureFittings2022-12-31 08804584core:ComputerEquipment2022-12-31 08804584core:MotorVehicles2023-01-012023-12-31 08804584core:PlantMachinery2023-12-31 08804584core:MotorVehicles2023-12-31 08804584core:FurnitureFittings2023-12-31 08804584core:ComputerEquipment2023-12-31 08804584core:AcceleratedTaxDepreciationDeferredTax2023-12-31 08804584core:AcceleratedTaxDepreciationDeferredTax2022-12-31 088045842021-12-31 088045842022-01-012022-12-31 08804584business:OrdinaryShareClass12023-01-012023-12-31 08804584business:OrdinaryShareClass12022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 08804584 (England and Wales)
FORTEX ENGINEERING LIMITED Unaudited accounts for the year ended 31 December 2023
FORTEX ENGINEERING LIMITED Unaudited accounts Contents
Page
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FORTEX ENGINEERING LIMITED Company Information for the year ended 31 December 2023
Director
B. A. Holland
Company Number
08804584 (England and Wales)
Registered Office
Unit 16 Freeman Road North Hykeham Lincoln Lincolnshire LN6 9AP
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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FORTEX ENGINEERING LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
49,794 
17,104 
Current assets
Inventories
36,000 
30,000 
Debtors
122,686 
78,559 
Cash at bank and in hand
617,873 
479,852 
776,559 
588,411 
Creditors: amounts falling due within one year
(112,268)
(183,312)
Net current assets
664,291 
405,099 
Total assets less current liabilities
714,085 
422,203 
Provisions for liabilities
Deferred tax
(7,689)
- 
Net assets
706,396 
422,203 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
70,241 
37,188 
Profit and loss account
636,055 
384,915 
Shareholders' funds
706,396 
422,203 
For the year ending 31 December 2023 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 director acknowledges his 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 and authorised for issue on 12 September 2024 and were signed on its behalf by
B. A. Holland Director Company Registration No. 08804584
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FORTEX ENGINEERING LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
FORTEX ENGINEERING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08804584. The registered office is Unit 16 Freeman Road, North Hykeham, Lincoln, Lincolnshire, LN6 9AP.
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. No revaluations of fixed assets have been included in these accounts and the director concludes the carrying value of assets to be in line with current economic conditions
Presentation currency
The accounts are presented in £ sterling.
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: A revaluation process has been carried out this financial year therefore deprecation has not been charged to the profit and loss account in this period.
Plant & machinery
25% Straight line
Fixtures & fittings
25% Straight line
Computer equipment
25% Straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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FORTEX ENGINEERING LIMITED Notes to the Accounts for the year ended 31 December 2023
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At valuation 
At valuation 
At 1 January 2023
64,255 
- 
2,125 
1,071 
67,451 
Additions
- 
24,000 
- 
- 
24,000 
Revaluations
32,127 
- 
1,062 
535 
33,724 
At 31 December 2023
96,382 
24,000 
3,187 
1,606 
125,175 
Depreciation
At 1 January 2023
47,579 
- 
1,730 
1,038 
50,347 
Charge for the year
19,276 
4,800 
637 
321 
25,034 
At 31 December 2023
66,855 
4,800 
2,367 
1,359 
75,381 
Net book value
At 31 December 2023
29,527 
19,200 
820 
247 
49,794 
At 31 December 2022
16,676 
- 
395 
33 
17,104 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
122,686 
87,288 
Other debtors
- 
(8,729)
122,686 
78,559 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,399 
16,750 
Trade creditors
29,304 
87,898 
Taxes and social security
81,483 
36,164 
Other creditors
82 
- 
Loans from directors
- 
36,000 
Accruals
- 
6,500 
112,268 
183,312 
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FORTEX ENGINEERING LIMITED Notes to the Accounts for the year ended 31 December 2023
7
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
7,689 
- 
2023 
2022 
£ 
£ 
Provision at start of year
- 
5,668 
Charged/(credited) to the profit and loss account
7,689 
(5,668)
Provision at end of year
7,689 
- 
A deferred taxation reserve has been created of some £7,689 in the period due to accelerated capital allowances. These reserves will reverse in future periods creating a tax liability at the prevailing rate on the day.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Capital commitments
2023 
2022 
£ 
£ 
there are no capital commitments at this point in time.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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