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Registered number: 08801252
Fortis Engineering Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Clouders (Audit & Accounts) Ltd
Charter House, 103-105 Leigh Road
Leigh-On-Sea
SS9 1JL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08801252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 35,689 37,216
35,689 37,216
CURRENT ASSETS
Stocks 6 3,250 3,250
Debtors 7 177,613 143,859
Cash at bank and in hand 383 5,025
181,246 152,134
Creditors: Amounts Falling Due Within One Year 8 (168,723 ) (151,783 )
NET CURRENT ASSETS (LIABILITIES) 12,523 351
TOTAL ASSETS LESS CURRENT LIABILITIES 48,212 37,567
Creditors: Amounts Falling Due After More Than One Year 9 (19,657 ) (33,394 )
NET ASSETS 28,555 4,173
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 28,455 4,073
SHAREHOLDERS' FUNDS 28,555 4,173
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Clint Beagle
Director
Mr Andrew Frye
Director
16/04/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Fortis Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08801252 . The registered office is Charter House, 103-105 Leigh Road, Leigh-on-Sea, Essex, SS9 1JL.
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. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
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:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% straight line
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Corporation 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 7 (2023: 7)
7 7
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4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 39,800
Disposals (4,800 )
As at 31 October 2024 35,000
Amortisation
As at 1 November 2023 39,800
Disposals (4,800 )
As at 31 October 2024 35,000
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 61,018 5,625 11,873 7,828 86,344
Additions 1,549 12,095 - - 13,644
Disposals (3,123 ) (7,225 ) - - (10,348 )
As at 31 October 2024 59,444 10,495 11,873 7,828 89,640
Depreciation
As at 1 November 2023 35,032 3,596 4,777 5,723 49,128
Provided during the period 6,517 1,341 1,774 1,306 10,938
Disposals (2,053 ) (4,062 ) - - (6,115 )
As at 31 October 2024 39,496 875 6,551 7,029 53,951
Net Book Value
As at 31 October 2024 19,948 9,620 5,322 799 35,689
As at 1 November 2023 25,986 2,029 7,096 2,105 37,216
6. Stocks
2024 2023
£ £
Stock 3,250 3,250
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 145,158 120,747
Amounts recoverable on contracts 26,481 20,507
Prepayments and accrued income 2,859 2,221
Other debtors - 384
CIS suffered 3,115 -
177,613 143,859
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,198 -
Trade creditors 125,465 103,978
Bank loans and overdrafts 15,175 10,000
Other taxes and social security 6,163 5,979
VAT 10,980 21,714
Net wages 3,292 -
Pension scheme 418 520
Accrued expenses 1,673 2,060
Directors' loan accounts 1,359 7,532
168,723 151,783
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,997 -
Bank loans 12,660 22,916
Directors loan account - 10,478
19,657 33,394
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,198 -
Later than one year and not later than five years 6,997 -
11,195 -
11,195 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
The company provides services to CVB Technical Solutions Ltd. One of the directors of Fortis Engineering Limited is also a director of this company. During the year, the cost of these services amounted to £20,940 (2023: £11,745), £120 remained outstanding at the year-end and is shown in trade debtors.
The company also receives services from CVB Technical Solutions Ltd. During the year, the cost of these services amounted to £1,643 (2023: £14,484), £1,409 of which remained outstanding at the year-end and is shown in trade creditors.
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