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Registration number: SC651035

Fortro Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Fortro Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 12

Detailed Profit and Loss Account

13 to 14

 

Fortro Ltd

Company Information

Director

Mrs Aileen Margaret Boyle

Registered office

18 Browns Place
East Linton
EH40 3AX

Accountants

Bracey's Accountants (Edinburgh) Limited
Chartered Certified AccountantGround Floor
112 George Street
Edinburgh
EH2 4LH

 

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:

Mrs Aileen Margaret Boyle

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 director on 28 February 2025
 


Mrs Aileen Margaret Boyle
Director

 

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.





Bracey's Accountants (Edinburgh) Limited
Chartered Certified Accountant
Ground Floor
112 George Street
Edinburgh
EH2 4LH

28 February 2025

 

Fortro Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 January 2025

Note

2025
£

2024
£

Turnover

 

48,613

69,914

Administrative expenses

 

(44,107)

(73,416)

Operating profit/(loss)

 

4,506

(3,502)

Other interest receivable and similar income

 

2

18

Interest payable and similar charges

 

(134)

-

 

(132)

18

Profit/(loss) before tax

4

4,374

(3,484)

Taxation

 

(930)

518

Profit/(loss) for the financial year

 

3,444

(2,966)

Retained earnings brought forward

 

(10,456)

(7,490)

Retained earnings carried forward

 

(7,012)

(10,456)

 

Fortro Ltd

(Registration number: SC651035)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

109

360

Current assets

 

Debtors

6

6,234

234

Cash at bank and in hand

 

2,396

6,649

 

8,630

6,883

Creditors: Amounts falling due within one year

7

(16,281)

(19,159)

Net current liabilities

 

(7,651)

(12,276)

Total assets less current liabilities

 

(7,542)

(11,916)

Provisions for liabilities

630

1,560

Net liabilities

 

(6,912)

(10,356)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(7,012)

(10,456)

Shareholders' deficit

 

(6,912)

(10,356)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 28 February 2025
 

Mrs Aileen Margaret Boyle
Director

   
     
 

Fortro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
18 Browns Place
East Linton
EH40 3AX
Scotland

These financial statements were authorised for issue by the director on 28 February 2025.

2

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Fortro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Profit/loss before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

251

322

 

Fortro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

1,287

1,287

At 31 January 2025

1,287

1,287

Depreciation

At 1 February 2024

927

927

Charge for the year

251

251

At 31 January 2025

1,178

1,178

Carrying amount

At 31 January 2025

109

109

At 31 January 2024

360

360

6

Debtors

Current

2025
£

2024
£

Trade debtors

6,000

-

Prepayments

234

234

 

6,234

234

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

10,016

12,816

Trade creditors

 

1,700

-

Taxation and social security

 

3,207

2,935

Accruals and deferred income

 

900

900

Other creditors

 

458

2,508

 

16,281

19,159

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

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank overdrafts

16

2,816

Other borrowings

10,000

10,000

10,016

12,816

Other borrowings are referred to in note 6 to these accounts.

9

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Fortro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

10

Related party transactions

11

Ultimate Controlling Party

The ultimate controlling party is Mrs Aileen Boyle, director and sole shareholder.

 

Fortro Ltd

Detailed Profit and Loss Account for the Year Ended 31 January 2025

2025
 £

2024
 £

Turnover

48,613

69,914

Gross profit (%)

100%

100%

Administrative expenses

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

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

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

Directors remuneration

9,100

9,100

Staff training

5,561

5,828

14,661

14,928

   

Establishment costs

Use of home as office

312

312

   

General administrative expenses

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

Bank charges

495

554

   

Depreciation costs

Depreciation of office equipment (owned)

251

322

   

Other interest receivable and similar income

Bank interest receivable

2

-

Other interest receivable

-

18

2

18

   

Interest payable and similar expenses

Other interest payable

(134)

-