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Registration number: 03374019

Fortman Properties Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2023

 

Fortman Properties Limited

Contents

Company Information

1

Director's Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Fortman Properties Limited

Company Information

Director

Sarah Lynn Hulme

Company secretary

Thornton Secretarial Services Limited

Registered office

Third Floor East Unit
12 Bridewell Place
London
EC4V 6AP

 

Fortman Properties Limited

Director's Report for the Year Ended 31 May 2023

The director presents his report and the abridged financial statements for the year ended 31 May 2023.

Director of the company

The director who held office during the year was as follows:

Sarah Lynn Hulme

Principal activity

The principal activity of the company is an investment holding company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 14 March 2024
 

.........................................
Thornton Secretarial Services Limited
Company secretary

 

Fortman Properties Limited

(Registration number: 03374019)
Abridged Statement of Financial Position as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

363,229

363,229

Investments

5

73,058

73,058

 

436,287

436,287

Creditors: Amounts falling due within one year

(552,171)

(549,171)

Total assets less current liabilities

 

(115,884)

(112,884)

Accruals and deferred income

 

(3,500)

(3,000)

Net liabilities

 

(119,384)

(115,884)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(120,384)

(116,884)

Shareholders' deficit

 

(119,384)

(115,884)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 14 March 2024
 

.........................................
Sarah Lynn Hulme
Director

 

Fortman Properties Limited

Statement of Changes in Equity for the Year Ended 31 May 2023

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

1,000

(116,884)

(115,884)

Loss for the year

-

(3,500)

(3,500)

At 31 May 2023

1,000

(120,384)

(119,384)

Share capital
£

Retained earnings
£

Total
£

At 1 June 2021

1,000

(113,884)

(112,884)

Loss for the year

-

(3,000)

(3,000)

At 31 May 2022

1,000

(116,884)

(115,884)

 

Fortman Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Third Floor East Unit
12 Bridewell Place
London
EC4V 6AP

These financial statements were authorised for issue by the director on 14 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Fortman Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Fortman Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2022

363,229

363,229

At 31 May 2023

363,229

363,229

Depreciation

Carrying amount

At 31 May 2023

363,229

363,229

At 31 May 2022

363,229

363,229

Included within the net book value of land and buildings above is £363,229 (2022 - £363,229) in respect of freehold land and buildings.
 

5

Investments

Total
£

Cost or valuation

At 1 June 2022

73,058

Provision

Carrying amount

At 31 May 2023

73,058

At 31 May 2022

73,058

2023
£

2022
£

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Fortman Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Negotium Doo(Croatia)

Croatia

Ordinary

50%

50%

Subsidiary undertakings

Negotium Doo(Croatia)

The principal activity of Negotium Doo(Croatia) is General trading company .