REGISTERED NUMBER: 11196414 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Fortitude Wealth Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A D Macintyre

REGISTERED OFFICE:

81-82 Castle Street

Canterbury

Kent

CT1 2QD

REGISTERED NUMBER:

11196414 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Intangible assets

4

944,492

1,079,974

Tangible assets

5

3,833

3,469

948,325

1,083,443

CURRENT ASSETS

Debtors

6

5,000

5,000

Investments

7

43,962

39,665

Cash at bank

339,735

474,503

388,697

519,168

CREDITORS

Amounts falling due within one year

8

237,178

316,009

NET CURRENT ASSETS

151,519

203,159

TOTAL ASSETS LESS CURRENT LIABILITIES

1,099,844

1,286,602

CREDITORS

Amounts falling due after more than one year

9

(773,175

)

(912,503

)

PROVISIONS FOR LIABILITIES

10

(3,199

)

(1,992

)

NET ASSETS

323,470

372,107

CAPITAL AND RESERVES

Called up share capital

11

2,000

2,000

Fair value reserve

12

6,722

4,665

Retained earnings

314,748

365,442

SHAREHOLDERS' FUNDS

323,470

372,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 April 2025 and were signed by:

A D Macintyre - Director

1.	STATUTORY INFORMATION

Fortitude Wealth Management 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 2022, 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.

Computer equipment

-

33% on cost

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

1,421,279

AMORTISATION

At 1 March 2024

341,305

Amortisation for year

135,482

At 28 February 2025

476,787

NET BOOK VALUE

At 28 February 2025

944,492

At 29 February 2024

1,079,974

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2024

7,002

Additions

2,251

At 28 February 2025

9,253

DEPRECIATION

At 1 March 2024

3,533

Charge for year

1,887

At 28 February 2025

5,420

NET BOOK VALUE

At 28 February 2025

3,833

At 29 February 2024

3,469

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other debtors

5,000

5,000

7.	CURRENT ASSET INVESTMENTS

28.2.25

29.2.24

£

£

Unlisted investments

43,962

39,665

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Taxation and social security

73,776

127,110

Other creditors

163,402

188,899

237,178

316,009

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Other creditors

773,175

912,503

10.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax

3,199

1,992

Deferred

tax

£

Balance at 1 March 2024

1,992

Provided during year

1,207

Accelerated capital allowances

Balance at 28 February 2025

3,199

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

2,000

Ordinary

£1

2,000

2,000

12.

RESERVES

Fair

value

reserve

£

At 1 March 2024

4,665

Investment revaluation

2,057

At 28 February 2025

6,722