Registered number
04752620
Ever Fortune Limited
Unaudited Filleted Accounts
31 July 2024
Ever Fortune Limited
Registered number: 04752620
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 48,288 52,390
Investments 5 100 100
48,389 52,491
Current assets
Debtors 6 1,374,521 1,253,734
Cash at bank and in hand 14,149 19,449
1,388,670 1,273,183
Creditors: amounts falling due within one year 7 (1,415,885) (1,324,859)
Net current liabilities (27,215) (51,676)
Total assets less current liabilities 21,174 815
Creditors: amounts falling due after more than one year 8 (8,414) (18,449)
Provisions for liabilities (2,221) (5,323)
Net assets/(liabilities) 10,539 (22,957)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 9,539 (23,957)
Shareholder's funds 10,539 (22,957)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr K N Tjong
Director
Approved by the board on 28 April 2025
Ever Fortune Limited
Notes to the Accounts
for the year ended 31 July 2024
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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 155,000
At 31 July 2024 155,000
Amortisation
At 1 August 2023 154,999
At 31 July 2024 154,999
Net book value
At 31 July 2024 1
At 31 July 2023 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 424,752 524,989 949,741
Additions 17,090 - 17,090
At 31 July 2024 441,842 524,989 966,831
Depreciation
At 1 August 2023 397,714 499,637 897,351
Charge for the year 12,651 8,541 21,192
At 31 July 2024 410,365 508,178 918,543
Net book value
At 31 July 2024 31,477 16,811 48,288
At 31 July 2023 27,038 25,352 52,390
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2023 100
At 31 July 2024 100
6 Debtors 2024 2023
£ £
Trade debtors 985,655 889,773
Amounts owed by group undertakings and undertakings in which the company has a participating interest 28,943 27,546
Other debtors 359,923 336,415
1,374,521 1,253,734
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 412,745 491,002
Taxation and social security costs 59,739 60,142
Other creditors 932,753 763,067
1,415,885 1,324,859
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,414 18,449
9 Other information
Ever Fortune Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on sea
Essex
SS0 7LP
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