18 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08353595 2023-02-01 2024-01-31 08353595 2024-01-31 08353595 2023-01-31 08353595 2022-02-01 2023-01-31 08353595 2023-01-31 08353595 2022-01-31 08353595 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08353595 core:FurnitureFittings 2023-02-01 2024-01-31 08353595 bus:OrdinaryShareClass3 2023-02-01 2024-01-31 08353595 bus:OrdinaryShareClass4 2023-02-01 2024-01-31 08353595 bus:Director1 2023-02-01 2024-01-31 08353595 core:WithinOneYear 2024-01-31 08353595 core:WithinOneYear 2023-01-31 08353595 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 08353595 core:FurnitureFittings 2023-01-31 08353595 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 08353595 core:FurnitureFittings 2024-01-31 08353595 core:ShareCapital 2024-01-31 08353595 core:ShareCapital 2023-01-31 08353595 core:RetainedEarningsAccumulatedLosses 2024-01-31 08353595 core:RetainedEarningsAccumulatedLosses 2023-01-31 08353595 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 08353595 bus:SmallEntities 2023-02-01 2024-01-31 08353595 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08353595 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08353595 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08353595 bus:FullAccounts 2023-02-01 2024-01-31 08353595 bus:OrdinaryShareClass3 2024-01-31 08353595 bus:OrdinaryShareClass3 2023-01-31 08353595 bus:OrdinaryShareClass4 2024-01-31 08353595 bus:OrdinaryShareClass4 2023-01-31 08353595 bus:AllOrdinaryShares 2024-01-31 08353595 bus:AllOrdinaryShares 2023-01-31 08353595 core:OfficeEquipment 2023-01-31 08353595 core:OfficeEquipment 2023-02-01 2024-01-31 08353595 core:OfficeEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 08353595
Fortunefish Limited
Filleted Unaudited Financial Statements
31 January 2024
Fortunefish Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
433,434
444,568
Current assets
Debtors
6
170,648
131,501
Cash at bank and in hand
12,113
34,691
---------
---------
182,761
166,192
Creditors: amounts falling due within one year
7
5,432,359
5,193,585
------------
------------
Net current liabilities
5,249,598
5,027,393
------------
------------
Total assets less current liabilities
( 4,816,164)
( 4,582,825)
------------
------------
Net liabilities
( 4,816,164)
( 4,582,825)
------------
------------
Capital and reserves
Called up share capital
8
1,010
1,010
Profit and loss account
( 4,817,174)
( 4,583,835)
------------
------------
Shareholders deficit
( 4,816,164)
( 4,582,825)
------------
------------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fortunefish Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 5 June 2024 , and are signed on behalf of the board by:
Mr J H J Stamper
Director
Company registration number: 08353595
Fortunefish Limited
Notes to the Financial Statements
Year ended 31 January 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 Rawdon House, Rawdon Terrace, Ashby de la Zouch, LE65 2GN, Leicestershire. The address for the place of business is Unit 4, Experian Way, Nottingham, NG2 1EP.
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.
Going concern
At the balance sheet date the company showed a shareholders deficit of £4,816,164. The company is dependant on the funding from the directors and they have prepared the Financial Statements on a going concern basis as they are confident liabilities will be met as they arise.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Freehold property
-
2% straight line
Fixtures and fittings
-
25% reducing balance
Office equipment
-
4 years straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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 18 (2023: 18 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
550,740
37,251
89,262
677,253
Additions
5,140
5,140
---------
--------
--------
---------
At 31 January 2024
550,740
37,251
94,402
682,393
---------
--------
--------
---------
Depreciation
At 1 February 2023
110,149
37,251
85,285
232,685
Charge for the year
11,014
5,260
16,274
---------
--------
--------
---------
At 31 January 2024
121,163
37,251
90,545
248,959
---------
--------
--------
---------
Carrying amount
At 31 January 2024
429,577
3,857
433,434
---------
--------
--------
---------
At 31 January 2023
440,591
3,977
444,568
---------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
163,436
119,685
Prepayments and accrued income
2,432
4,053
Other debtors
4,780
7,763
---------
---------
170,648
131,501
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
73,645
13,879
Accruals and deferred income
4,313
3,914
Social security and other taxes
9,563
9,138
Director loan accounts
5,284,384
5,106,403
Other creditors
60,454
60,251
------------
------------
5,432,359
5,193,585
------------
------------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary "A" shares of £ 0.10 each
9,300
930
9,300
930
Ordinary "B" shares of £ 0.10 each
800
80
800
80
--------
-------
--------
-------
10,100
1,010
10,100
1,010
--------
-------
--------
-------
9. Directors' advances, credits and guarantees
During the year, the company had loans with its directors. The maximum liability owed by the company during the year was £5,284,384(2023: £5,106,403). These loans are unsecured, free of interest and repayable on demand.
10. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 1A.