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REGISTERED NUMBER: 12560100 (England and Wales)















FORTIS ASSET MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






FORTIS ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 12560100)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORTIS ASSET MANAGEMENT LIMITED

COMPANY INFORMATION
For The Year Ended 30 SEPTEMBER 2024







DIRECTOR: Ms L M Cardus





REGISTERED OFFICE: 2-3 Regents Court
Far Moor Lane
Redditch
Worcestershire
B98 0SD





REGISTERED NUMBER: 12560100 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

FORTIS ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 12560100)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 225,518 57,008
Investment property 5 307,941 307,941
533,459 364,949

CURRENT ASSETS
Debtors 6 1,787 298
Cash at bank 47,373 30,175
49,160 30,473
CREDITORS
Amounts falling due within one year 7 2,029 2,594
NET CURRENT ASSETS 47,131 27,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

580,590

392,828

CREDITORS
Amounts falling due after more than one
year

8

620,345

433,806
NET LIABILITIES (39,755 ) (40,978 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 9 (5,007 ) (28,682 )
Retained earnings (35,748 ) (13,296 )
(39,755 ) (40,978 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

FORTIS ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 12560100)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 director and authorised for issue on 14 January 2025 and were signed by:





Ms L M Cardus - Director


FORTIS ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 12560100)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Fortis Asset Management Limited is a private company, limited by shares , 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2023 57,008
Additions 144,835
Revaluations 23,675
At 30 September 2024 225,518
NET BOOK VALUE
At 30 September 2024 225,518
At 30 September 2023 57,008

FORTIS ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 12560100)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2024


4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2024 is represented by:

Other
investments
£   
Valuation in 2024 (1,882 )
Cost 227,400
225,518

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 307,941
NET BOOK VALUE
At 30 September 2024 307,941
At 30 September 2023 307,941

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 1,536 -
Other debtors 251 298
1,787 298

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Taxation and social security 1,229 821
Other creditors 800 1,773
2,029 2,594

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Other creditors 620,345 433,806

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 620,345 433,806

FORTIS ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 12560100)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2024


9. RESERVES
Fair
value
reserve
£   
At 1 October 2023 (28,682 )
Transfer in the year 23,675

At 30 September 2024 (5,007 )

10. RELATED PARTY DISCLOSURES

As at the balance sheet date, Fortis Asset Management Limited owed £620,345 (2023 £433,804) to an associated company, with an interest rate of 2.5% above base rate being charged per annum .The loan is repayable on demand by the lender.

During the year the company received rent of £1,600 (2023 £1,450) from a company under common control.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Ms L M Cardus.