Company No: 03930876 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	2,852		88
Tangible assets	4	6,227		10,088
		9,079		10,176
Current assets
Stocks		48,655		78,655
Debtors	5	103,832		108,640
Cash at bank and in hand		3		3
		152,490		187,298
Creditors: amounts falling due within one year	6	( 155,883)		( 168,384)
Net current (liabilities)/assets		(3,393)		18,914
Total assets less current liabilities		5,686		29,090
Creditors: amounts falling due after more than one year	7	0		( 24,361)
Provision for liabilities		( 1,916)		( 2,189)
Net assets		3,770		2,540
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		3,670		2,440
Total shareholders' funds		3,770		2,540

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fortuna and Virtu Limited (registered number: 03930876) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

Mr S G Beech Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fortuna and Virtu Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Tavistock Place, Plymouth, Devon, PL4 8AU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	5 years straight line
Fixtures and fittings	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		11

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	86,610		86,610
Additions	2,900		2,900
At 31 March 2025	89,510		89,510
Accumulated amortisation
At 01 April 2024	86,522		86,522
Charge for the financial year	136		136
At 31 March 2025	86,658		86,658
Net book value
At 31 March 2025	2,852		2,852
At 31 March 2024	88		88

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	68,630		138,779		44,276		251,685
Additions	0		217		0		217
At 31 March 2025	68,630		138,996		44,276		251,902
Accumulated depreciation
At 01 April 2024	68,630		131,072		41,895		241,597
Charge for the financial year	0		3,298		780		4,078
At 31 March 2025	68,630		134,370		42,675		245,675
Net book value
At 31 March 2025	0		4,626		1,601		6,227
At 31 March 2024	0		7,707		2,381		10,088

5. Debtors

	2025		2024
	£		£
Trade debtors	600		0
Other debtors	103,232		108,640
	103,832		108,640

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	30,767		43,478
Trade creditors	21,523		43,697
Taxation and social security	32,264		29,281
Other creditors	71,329		51,928
	155,883		168,384

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		24,361

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
At 1 April	72,917		67,643
Advances to director	65,066		59,577
Repayments by director	(66,000)		(54,303)
At 31 March	71,983		72,917

Interest is charged on the above balance at HMRC's official rate.