Registration number:
Fortro Ltd
for the Year Ended 31 January 2025
Fortro Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Detailed Profit and Loss Account |
Fortro Ltd
Company Information
Director |
Mrs Aileen Margaret Boyle |
Registered office |
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Accountants |
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Fortro Ltd
Director's Report for the Year Ended 31 January 2025
The director presents her report and the financial statements for the year ended 31 January 2025.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is business consultancy.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Fortro Ltd
for the Year Ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fortro Ltd for the year ended 31 January 2025 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Fortro Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fortro Ltd and state those matters that we have agreed to state to the Board of Directors of Fortro Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fortro Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fortro Ltd 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 of Fortro Ltd. You consider that Fortro Ltd 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 Fortro Ltd. 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.
Chartered Certified Accountant
112 George Street
Edinburgh
EH2 4LH
Fortro Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 January 2025
Note |
2025 |
2024 |
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Turnover |
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Administrative expenses |
( |
( |
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Operating profit/(loss) |
|
( |
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Other interest receivable and similar income |
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|
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Interest payable and similar charges |
( |
- |
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(132) |
18 |
||
Profit/(loss) before tax |
|
( |
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Taxation |
( |
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Profit/(loss) for the financial year |
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( |
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Retained earnings brought forward |
(10,456) |
(7,490) |
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Retained earnings carried forward |
(7,012) |
(10,456) |
Fortro Ltd
(Registration number: SC651035)
Balance Sheet as at 31 January 2025
Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Judgements
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 comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
25% Straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits,
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price.
Trade debtors are reviewed annually for any bad debts and any adjustment is made accordingly through the profit and loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Profit/loss before tax |
Arrived at after charging/(crediting)
2025 |
2024 |
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Depreciation expense |
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Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2024 |
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At 31 January 2025 |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Debtors |
Current |
2025 |
2024 |
Trade debtors |
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- |
Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other creditors include a loan which is unsecured of £10,000 (2023: £10,000).
Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Loans and borrowings |
Current loans and borrowings
2025 |
2024 |
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Bank overdrafts |
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Other borrowings |
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Other borrowings are referred to in note 6 to these accounts.
Share capital |
Allotted, called up and fully paid shares
2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Fortro Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Related party transactions |
Ultimate Controlling Party |
The ultimate controlling party is
Fortro Ltd
Detailed Profit and Loss Account for the Year Ended 31 January 2025
2025 |
2024 |
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Turnover |
48,613 |
69,914 |
Gross profit (%) |
100% |
100% |
Administrative expenses |
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Employment costs |
14,661 |
14,928 |
Establishment costs |
312 |
312 |
General administrative expenses |
28,388 |
57,300 |
Finance charges |
495 |
554 |
Depreciation costs |
251 |
322 |
44,107 |
73,416 |
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Operating profit/(loss) |
4,506 |
(3,502) |
Other interest receivable and similar income (analysed below) |
2 |
18 |
Interest payable and similar charges (analysed below) |
(134) |
- |
(132) |
18 |
|
Profit/(loss) before tax |
4,374 |
(3,484) |
Fortro Ltd
Detailed Profit and Loss Account for the Year Ended 31 January 2025
2025 |
2024 |
Turnover |
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Rendering of services, UK |
50,555 |
72,577 |
Flat Rate VAT Adjustment |
(2,002) |
(2,703) |
Recharge of expenses |
60 |
40 |
48,613 |
69,914 |
Employment costs |
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Directors remuneration |
9,100 |
9,100 |
Staff training |
5,561 |
5,828 |
14,661 |
14,928 |
Establishment costs |
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Use of home as office |
312 |
312 |
General administrative expenses |
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Travelling |
1,638 |
7,369 |
Insurance |
945 |
634 |
Office expenses |
2,267 |
3,668 |
Computer software and maintenance costs |
2,179 |
1,580 |
Printing, postage and stationery |
- |
40 |
Subscriptions |
2,882 |
29,339 |
Charitable donations |
227 |
261 |
Sundry expenses |
310 |
46 |
Advertising |
11,694 |
10,603 |
Entertaining |
1,458 |
1,415 |
Accountancy fees |
2,080 |
1,615 |
Legal and professional fees |
2,708 |
730 |
28,388 |
57,300 |
Finance charges |
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Bank charges |
495 |
554 |
Depreciation costs |
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Depreciation of office equipment (owned) |
251 |
322 |
Other interest receivable and similar income |
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Bank interest receivable |
2 |
- |
Other interest receivable |
- |
18 |
2 |
18 |
Interest payable and similar expenses |
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Other interest payable |
(134) |
- |