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COMPANY REGISTRATION NUMBER: 13711964
Fort Advice Bureau Limited
Unaudited Financial Statements
For the Year Ended
31 May 2024
Fort Advice Bureau Limited
Financial Statements
Year Ended 31st May 2024
Contents
Page
Director's Report
1
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
2
Statement of Income and Retained Earnings
3
Statement of Financial Position
4
Notes to the Financial Statements
5
Fort Advice Bureau Limited
Director's Report
Year Ended 31st May 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 May 2024 .
Director
The director who served the company during the year was as follows:
Mr R.A. Lane
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 12 September 2024 and signed on behalf of the board by:
Mr R.A. Lane
Director
Fort Advice Bureau Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Fort Advice Bureau Limited
Year Ended 31st May 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31st May 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
PEYTON TYLER MEARS Chartered accountants
Middleborough House 16 Middleborough Colchester Essex CO1 1QT
12 September 2024
Fort Advice Bureau Limited
Statement of Income and Retained Earnings
Year Ended 31st May 2024
2024
Note
£
Turnover
624,104
Cost of sales
503,432
---------
Gross Profit
120,672
Administrative expenses
139,163
---------
Operating Loss
( 18,491)
---------
Loss Before Taxation
5
( 18,491)
Tax on loss
--------
Loss for the Financial Year and Total Comprehensive Income
( 18,491)
--------
Retained Earnings at the Start of the Year
--------
Retained Losses at the End of the Year
( 18,491)
--------
All the activities of the company are from continuing operations.
Fort Advice Bureau Limited
Statement of Financial Position
31 May 2024
2024
Note
£
£
Fixed Assets
Tangible assets
6
2,400
Current Assets
Debtors
7
41,334
Cash at bank and in hand
125,964
---------
167,298
Creditors: amounts falling due within one year
8
88,188
---------
Net Current Assets
79,110
--------
Total Assets Less Current Liabilities
81,510
Creditors: amounts falling due after more than one year
9
100,000
---------
Net Liabilities
( 18,490)
---------
Capital and Reserves
Called up share capital
1
Profit and loss account
( 18,491)
--------
Shareholders Deficit
( 18,490)
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31st May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
Mr R.A. Lane
Director
Company registration number: 13711964
Fort Advice Bureau Limited
Notes to the Financial Statements
Year Ended 31st May 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT, England.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 6 .
5. Profit Before Taxation
Profit before taxation is stated after charging:
2024
£
Depreciation of tangible assets
600
----
6. Tangible Assets
Fixtures and fittings
£
Cost
At 1st June 2023
Additions
3,000
-------
At 31st May 2024
3,000
-------
Depreciation
At 1st June 2023
Charge for the year
600
-------
At 31st May 2024
600
-------
Carrying amount
At 31st May 2024
2,400
-------
7. Debtors
2024
£
Trade debtors
39,334
Other debtors
2,000
--------
41,334
--------
8. Creditors: amounts falling due within one year
2024
£
Trade creditors
85,613
Social security and other taxes
476
Other creditors
2,099
--------
88,188
--------
9. Creditors: amounts falling due after more than one year
2024
£
Other creditors
100,000
---------