Registered number
06300493
Fortic Financial Services Ltd
Filleted Accounts
31 March 2025
Fortic Financial Services Ltd
Registered number: 06300493
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 551 359
Current assets
Debtors 4 41,112 40,469
Cash at bank and in hand 19,135 13,603
60,247 54,072
Creditors: amounts falling due within one year 5 (11,700) (46,807)
Net current assets 48,547 7,265
Total assets less current liabilities 49,098 7,624
Provisions for liabilities (105) -
Net assets 48,993 7,624
Capital and reserves
Called up share capital 2 2
Profit and loss account 48,991 7,622
Shareholders' funds 48,993 7,624
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Philip Knight
Director
Approved by the board on 13 June 2025
Fortic Financial Services Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 639
Additions 376
At 31 March 2025 1,015
Depreciation
At 1 April 2024 280
Charge for the year 184
At 31 March 2025 464
Net book value
At 31 March 2025 551
At 31 March 2024 359
4 Debtors 2025 2024
£ £
Trade debtors 41,112 31,278
Deferred tax asset - 7,825
Other debtors - 1,366
41,112 40,469
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 1,774 -
Other creditors 9,926 46,807
11,700 46,807
6 Related party transactions
At the period end the company owed £2,933 (2024: £41,313) to Mr David John Bartleet and Mr Ian Philip Knight, directors. The loan is interest free and repayable on demand.
7 Controlling party
The company is ultimately controlled by Mr David John Bartleet and Mr Ian Philip Knight, directors, who together own 100% of the issued share capital.
8 Other information
Fortic Financial Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Atlantic Business Centre
5 Tywarnhayle Square
Perranporth
Cornwall
TR6 0ER
Fortic Financial Services Ltd 06300493 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2024 Ian Philip Knight No description of principal activity 06300493 2023-04-01 2024-03-31 06300493 core:WithinOneYear 2024-03-31 06300493 core:ShareCapital 2024-03-31 06300493 core:RetainedEarningsAccumulatedLosses 2024-03-31 06300493 2024-04-01 2025-03-31 06300493 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06300493 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 06300493 bus:Director40 2024-04-01 2025-03-31 06300493 1 2024-04-01 2025-03-31 06300493 2 2024-04-01 2025-03-31 06300493 core:PlantMachinery 2024-04-01 2025-03-31 06300493 countries:England 2024-04-01 2025-03-31 06300493 bus:FRS102 2024-04-01 2025-03-31 06300493 bus:FilletedAccounts 2024-04-01 2025-03-31 06300493 2025-03-31 06300493 core:WithinOneYear 2025-03-31 06300493 core:ShareCapital 2025-03-31 06300493 core:RetainedEarningsAccumulatedLosses 2025-03-31 06300493 core:PlantMachinery 2025-03-31 06300493 2024-03-31 06300493 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure