1 November 2024 v2026.29.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP095677952024-11-012025-10-31095677952025-10-31095677952024-10-3109567795core:WithinOneYear2025-10-3109567795core:WithinOneYear2024-10-3109567795core:ShareCapital2025-10-3109567795core:ShareCapital2024-10-3109567795core:RetainedEarningsAccumulatedLosses2025-10-3109567795core:RetainedEarningsAccumulatedLosses2024-10-3109567795bus:Director12024-11-012025-10-3109567795bus:RegisteredOffice2024-11-012025-10-31095677952023-11-012024-10-310956779512024-11-012025-10-3109567795countries:EnglandWales2024-11-012025-10-3109567795bus:AuditExemptWithAccountantsReport2024-11-012025-10-3109567795bus:PrivateLimitedCompanyLtd2024-11-012025-10-3109567795bus:SmallEntities2024-11-012025-10-3109567795bus:AbridgedAccounts2024-11-012025-10-31
Company registration number:
09567795
Fortis Developments (South) Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 October 2025
Fortis Developments (South) Limited
Abridged Statement of Financial Position
31 October 2025
20252024
££
Current assets    
Cash at bank and in hand
368
 
116
 
Creditors: amounts falling due within one year
(4,021,483
)
(4,019,061
)
Net current liabilities
(4,021,115
)
(4,018,945
)
Total assets less current liabilities (4,021,115 ) (4,018,945 )
Capital and reserves    
Called up share capital
8
 
8
 
Profit and loss account
(4,021,123
)
(4,018,953
)
Shareholders deficit
(4,021,115
)
(4,018,945
)
For the year ending
31 October 2025
, 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 abridged financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 October 2025
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
29 July 2026
, and are signed on behalf of the board by:
Mr P Rainsbury
Director
Company registration number:
09567795
Fortis Developments (South) Limited
Notes to the Abridged Financial Statements
Year ended
31 October 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
33 Kings Pightle Chineham
,
Basingstoke
,
Hampshire
,
RG24 8XX
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The financial statements have not been prepared on the "Going Concern" basis but on the fair value of the residual assets and liabilities of the company as the project is now completed. There are insufficient funds to repay the lenders who financed the project and the lenders and the directors are in negotiation to determine a figure to be paid to the lender from the directors personal assets.

Going concern

The Leamington project was completed in October 2021 and the total loss on the project is now £4,286,858. This takes account of the full amount of £3,007,292.50 owed to Mayfair one of the major funders of the project. This is the maximum amount owed which includes default charges and interest. The directors are in negotiation with Mayfair with a view to reducing the contractual liability and negotiations are almost finalised as to what the two directors will pay to Mayfair to settle the debt from their personal assets as Mayfair hold personal guarantees from the two directors.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2024:
2.00
).