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REGISTERED NUMBER: 02365121 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

FORTVILLE LIMITED

FORTVILLE LIMITED (REGISTERED NUMBER: 02365121)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORTVILLE LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: S Morgenstern
N Sheinfeld





SECRETARY: S Morgenstern





REGISTERED OFFICE: 5 North End Road
London
NW11 7RJ





REGISTERED NUMBER: 02365121 (England and Wales)





ACCOUNTANTS: Martin + Heller
Chartered Accountants
5 North End Road
London
NW11 7RJ

FORTVILLE LIMITED (REGISTERED NUMBER: 02365121)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 6,108,531 6,108,531

CURRENT ASSETS
Debtors 5 267,008 133,822
Cash at bank 8,420 3,883
275,428 137,705
CREDITORS
Amounts falling due within one year 6 1,262,271 1,243,860
NET CURRENT LIABILITIES (986,843 ) (1,106,155 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,121,688

5,002,376

CREDITORS
Amounts falling due after more than one
year

7

(3,760,500

)

(3,760,500

)

PROVISIONS FOR LIABILITIES (405,909 ) (308,491 )
NET ASSETS 955,279 933,385

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 1,342,492 1,439,910
Retained earnings 9 (387,313 ) (506,625 )
SHAREHOLDERS' FUNDS 955,279 933,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FORTVILLE LIMITED (REGISTERED NUMBER: 02365121)

Balance Sheet - continued
31 January 2023


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 Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





S Morgenstern - Director


FORTVILLE LIMITED (REGISTERED NUMBER: 02365121)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Fortville Limited is a private company , 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net rents received.

Investment properties
Investment properties are revalued annually and included in the balance sheet at their open market values. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. In accordance with SSAP 19, no depreciation is provided in respect of investment properties. This represents a departure from Companies Act 1985 requirements concerning fixed assets. These properties are held for investment and the directors consider that the adoption of this policy is necessary to give a true and fair view.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

FORTVILLE LIMITED (REGISTERED NUMBER: 02365121)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 6,108,531
NET BOOK VALUE
At 31 January 2023 6,108,531
At 31 January 2022 6,108,531

In the opinion of the directors, the open market value of the property was £5,108,531 on 31 January 2023.

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2016 1,748,400
Cost 4,360,131
6,108,531

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 10,333 27,333
Other debtors 224,952 86,800
Managing Agent 26,619 16,540
Prepayments & accrued income 5,104 3,149
267,008 133,822

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Amounts owed to group undertakings 1,055,016 1,036,713
Tax 61,803 85,476
VAT 6,985 10,992
Other creditors 28,060 23,061
Accruals and deferred income 96,515 71,926
Rent received in advance 13,892 15,692
1,262,271 1,243,860

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans more 5 yr by instal 3,760,500 3,760,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,760,500 3,760,500

FORTVILLE LIMITED (REGISTERED NUMBER: 02365121)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 3,760,500 3,760,500

Bank loans and overdrafts are secured on the company's assets.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2022 (506,625 ) 1,439,910 933,285
Profit for the year 21,894 - 21,894
Deferred tax 97,418 (97,418 ) -
At 31 January 2023 (387,313 ) 1,342,492 955,179

10. ULTIMATE CONTROLLING PARTY

In the opinion of the directors the ultimate controlling party is the company's direct parent Lionrule Holdings Limited.

11. RELATED PARTY DISCLOSURE

Other Debtors includes a loan due from Clevermatch Limited amounting to £143,550 (2022: £7,000). Mr Sheinfeld is the sole director & shareholder of Clevermatch Limited.

Other Debtors includes a loan due from Garrickhall Limited amounting to £77,702 (2022: £76,100). Mr Morgenstern & Mr Sheinfeld are directors of Garrickhall Limited; and they each own indirectly 25% of the shareholding in Garrickhall Limited.

Other Creditors includes a loan due to Lionrule Investments Limited, amounting to £21,404 (2022: £16,404). Mr Morgestern & Mr Sheinfeld are directors of Lionrule Investments Limited, and they each own 25% of the shareholding in Lionrule Investments Limited.