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Registered number: 09900211
Fortannia Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09900211
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,657 1,047
1,657 1,047
CURRENT ASSETS
Debtors 5 76,322 82,932
Cash at bank and in hand 26,584 27,563
102,906 110,495
Creditors: Amounts Falling Due Within One Year 6 (36,903 ) (39,942 )
NET CURRENT ASSETS (LIABILITIES) 66,003 70,553
TOTAL ASSETS LESS CURRENT LIABILITIES 67,660 71,600
Creditors: Amounts Falling Due After More Than One Year 7 (18,414 ) (22,239 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (414 ) (262 )
NET ASSETS 48,832 49,099
CAPITAL AND RESERVES
Called up share capital 8 115 115
Share premium account 9,985 9,985
Profit and Loss Account 38,732 38,999
SHAREHOLDERS' FUNDS 48,832 49,099
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr E W Gunnery
Director
30/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fortannia Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09900211 . The registered office is Tockington Park Farm, Tockington Park, Almondsbury, Bristol, BS32 4JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 2,463 2,106 4,569
Additions - 1,634 1,634
As at 31 December 2024 2,463 3,740 6,203
Depreciation
As at 1 January 2024 1,949 1,573 3,522
Provided during the period 103 921 1,024
As at 31 December 2024 2,052 2,494 4,546
Net Book Value
As at 31 December 2024 411 1,246 1,657
As at 1 January 2024 514 533 1,047
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 629 12,000
Other debtors 75,693 70,932
76,322 82,932
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 365 363
Bank loans and overdrafts 3,820 3,726
Other creditors 4,782 8,356
Taxation and social security 27,936 27,497
36,903 39,942
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,414 22,239
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 2,144 6,370
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8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary A shares of £ 1 each 100 100
15 Ordinary B shares of £ 1 each 15 15
115 115
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Edward Gunnery 70,613 91,647 88,018 - 74,242
The above loan is unsecured and repayable on demand. It was repaid after the year end and interest was charged on the overdrawn loan balance during the year.
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