Company registration number 3885544 (England and Wales)
FORTIUM TECHNOLOGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
FORTIUM TECHNOLOGIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
FORTIUM TECHNOLOGIES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,390
4,006
Current assets
Debtors
4
283,148
330,075
Cash at bank and in hand
19,154
28,083
302,302
358,158
Creditors: amounts falling due within one year
5
(1,319,336)
(1,311,098)
Net current liabilities
(1,017,034)
(952,940)
Total assets less current liabilities
(1,014,644)
(948,934)
Creditors: amounts falling due after more than one year
6
-
0
(6,055)
Net liabilities
(1,014,644)
(954,989)
Capital and reserves
Called up share capital
1,237
1,237
Share premium account
1,958,480
1,958,480
Capital redemption reserve
154
154
Profit and loss reserves
(2,974,515)
(2,914,860)
Total equity
(1,014,644)
(954,989)
FORTIUM TECHNOLOGIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 April 2026 and are signed on its behalf by:
A Miles
Director
Company registration number 3885544 (England and Wales)
FORTIUM TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Fortium Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, Bridgend Business Centre, Bennett Street, Bridgend, Wales, CF31 3SH.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Going concern

At the balance sheet date the company has net current liabilities of £1,017,034 and net liabilities of £1,014,644

The largest creditor being DST Innovations Limited has indicated whilst the amount due to them is classified as short term, they have no intention of calling in the amount and will continue to support the business for the foreseeable future.

In 2025, the company restructured its operations, giving rise to significant savings, which is partly reflected in this year’s reduced loss. The full effect of the restructure coupled with a new product due to go live mid 2026 will enable Fortium to return to profitability. The Directors are also looking at ways of restructuring the debt, which would provide longer term security.

Accordingly the financial statements have been prepared on a going concern basis.

1.3
Turnover

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

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery etc
50% on cost and 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FORTIUM TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

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

The company participates in a share-based payment arrangement granted to its employees and employees of its subsidiaries. The company has elected to recognise and measure its share-based payment expense on the basis of a reasonable allocation of the expense for the group recognised in its consolidated accounts. The directors consider the number of unvested options granted to the company’s employees compared to the total unvested options granted under the group plan to be a reasonable basis for allocating the expense.

The expense in relation to options over the c ompany’s shares granted to employees of a subsidiary is recognised by the c ompany as a capital contribution, and presented as an increase in the company’s investment in that subsidiary.

1.8
Leases
As lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

1.9
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

1.10

Research and Development

Expenditure on research is written off in the year in which it is incurred and development costs are capitalised only after commercial feasibility of the asset for sale or use have been established.

FORTIUM TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.11

Share based payment

Equity-settled transactions

The cost of equity-settled transactions with employees is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. Fair value is determined by an external valuer using an appropriate pricing model. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions) and non vesting conditions. No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market or non vesting condition, which are treated as vesting irrespective of whether or not the market or non vesting condition is satisfied, provided that all other performance conditions are satisfied.

At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management's best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest or in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognised in the income statement, with a corresponding entry in equity.

Where the terms of an equity-settled award are modified or a new award is designated as replacing a cancelled or settled award, the cost based on the original award terms continues to be recognised over the original vesting period. In addition, an expense is recognised over the remainder of the new vesting period for the incremental fair value of any modification, based on the difference between the fair value of the original award and the fair value of the modified award, both as measured on the date of the modification. No reduction is recognised if this difference is negative.

Where an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any cost not yet recognised in the profit and loss account for the award is expensed immediately. Any compensation paid up to the fair value of the award at the cancellation or settlement date is deducted from equity, with any excess over fair value expensed in the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
20
20
FORTIUM TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2024
45,331
429,333
474,664
Additions
-
0
1,783
1,783
At 30 November 2025
45,331
431,116
476,447
Depreciation and impairment
At 1 December 2024
45,331
425,327
470,658
Depreciation charged in the year
-
0
3,399
3,399
At 30 November 2025
45,331
428,726
474,057
Carrying amount
At 30 November 2025
-
0
2,390
2,390
At 30 November 2024
-
0
4,006
4,006
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
93,715
104,294
Corporation tax recoverable
90,737
148,131
Other debtors
98,696
77,650
283,148
330,075
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
734,662
623,895
Trade creditors
78,604
143,797
Taxation and social security
27,928
34,559
Other creditors
478,142
508,847
1,319,336
1,311,098
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
6,055
FORTIUM TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 7 -
7
Directors' transactions

Dividends totalling £0 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

Advances
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Advanced
-
7,077
2,184
9,261
7,077
2,184
9,261
8
Related party disclosures

Included in Creditors: amounts falling due in one year are amounts due to shareholders of £2,352 (202 4: £2,352).

FORTIUM TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
9
Share baed payment transactions

An Enterprise Management Incentive (EMI) share option scheme was approved in March 2018. Under this scheme the options will vest if the employees who have been granted the options satisfy the working time requirements for the period up to and including the date of sale of the company. The options will lapse should the employee either leave employment or not meet the defined working time requirements. The contractual life of the options is ten years. During the year there were 0 share options granted (2024: 220, which following a share capital restructure undertaken by the company in the same year became 220,000 share options with an exercise price of £0.0001 per share). As at the 30 November 2025 the total number of options granted which have not lapsed is 783,000 (2024: 783,000). The fair value of equity settled options granted is estimated as at the date of grant based on a third party investment undertaken on an arms length basis and taking into account performance of the business since that date and the terms and conditions upon which the options are granted.

A second non - EMI share option scheme was approved in December 2020. Under this scheme the options will vest if the individuals who have been granted the options satisfy conditions up to and including the date of sale of the company. The options will lapse should the individual either leave employment or not meet the defined leaver requirements. The contractual life of the options is ten years. During the year there were 0 share options granted (2024: 56, which following a share capital restructure undertaken by the company in the year became 56,000 share options with an exercise price of £0.0001 per share). There are no cash settlement alternatives. As at the 30 November 2025 the total number of options granted which have not lapsed is 201,000 (2024: 201,000). The fair value of equity settled options granted is estimated as at the date of grant based on a third party investment undertaken on an arms length basis and taking into account performance of the business since that date and the terms and conditions upon which the options are granted.

A third non - EMI share option scheme was approved in December 2023. Under this scheme the options will vest if the individuals who have been granted the options satisfy conditions up to and including the date of sale of the company. The options will lapse should the individual either leave employment or not meet the defined leaver requirements. The contractual life of the options is ten years. During the year there were 0 share options granted (2024: 28, which following a share capital restructure undertaken by the company in the year became 28,000 share options with an exercise price of £0.0001 per share). There are no cash settlement alternatives. As at the 30 November 2025 the total number of options granted which have not lapsed is 13,000 (2024: 28,000). The fair value of equity settled options granted is estimated as at the date of grant based on a third party investment undertaken on an arms length basis and taking into account performance of the business since that date and the terms and conditions upon which the options are granted.

The expense recognised for these equity settled share-based payments during the year to 30 November 2025 is £nil (2024: £nil).

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