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REGISTERED NUMBER: 11615003 (England and Wales)















FORTYFORTY1010 LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024






FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORTYFORTY1010 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: M J Bevans
D C Bevans
S A Wiles
K Wiles





REGISTERED OFFICE: Merthyr Road Garage
King Street
Brynmawr
United Kingdom
Gwent
NP23 4SU





REGISTERED NUMBER: 11615003 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,000 17,500
Tangible assets 5 5,208 4,662
19,208 22,162

CURRENT ASSETS
Stocks 2,799 -
Debtors 6 2,822 2,579
Cash at bank and in hand 16,023 20,225
21,644 22,804
CREDITORS
Amounts falling due within one year 7 39,753 36,157
NET CURRENT LIABILITIES (18,109 ) (13,353 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,099

8,809

PROVISIONS FOR LIABILITIES 990 886
NET ASSETS 109 7,923

FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)

BALANCE SHEET - continued
31ST OCTOBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 7,823
SHAREHOLDERS' FUNDS 109 7,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 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.

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th February 2025 and were signed on its behalf by:





D C Bevans - Director


FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024

1. STATUTORY INFORMATION

Fortyforty1010 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 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 35,000
AMORTISATION
At 1st November 2023 17,500
Charge for year 3,500
At 31st October 2024 21,000
NET BOOK VALUE
At 31st October 2024 14,000
At 31st October 2023 17,500

FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st November 2023 2,995 4,995 551 8,541
Additions 1,744 - - 1,744
At 31st October 2024 4,739 4,995 551 10,285
DEPRECIATION
At 1st November 2023 1,078 2,596 205 3,879
Charge for year 529 600 69 1,198
At 31st October 2024 1,607 3,196 274 5,077
NET BOOK VALUE
At 31st October 2024 3,132 1,799 277 5,208
At 31st October 2023 1,917 2,399 346 4,662

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,822 2,350
Other debtors - 229
2,822 2,579

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,654 15,523
Corporation Tax 3,634 7,108
Social security and other taxes 485 129
VAT 7,873 7,798
Other creditors 802 376
Directors' current accounts 13,467 3,459
Accrued expenses 1,838 1,764
39,753 36,157

FORTYFORTY1010 LIMITED (REGISTERED NUMBER: 11615003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary B £1 20 20
80 Ordinary A £1 80 80
100 100

9. RELATED PARTY DISCLOSURES

At the year end, the company owed £13,467 to the directors (2023: £3,459).