REGISTERED NUMBER: 03043871 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2026

FOR

FORTDENE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Adrian Richard Goldsmith

John Oliver Goldsmith

Willem Frederik Vonck

REGISTERED OFFICE:

30 Macaulay Road

London

SW4 0QX

REGISTERED NUMBER:

03043871 (England and Wales)

FIXED ASSETS

Investment property

4

7,584,000

7,820,000

CURRENT ASSETS

Debtors

5

29,952

27,902

Cash at bank

244,786

365,591

274,738

393,493

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

(1,745,123

)

(2,222,723

)

NET CURRENT LIABILITIES

(1,470,385

)

(1,829,230

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,113,615

5,990,770

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

7

(271,389

)

(459,027

)

PROVISIONS FOR LIABILITIES

9

(167,908

)

(166,113

)

NET ASSETS

5,674,318

5,365,630

CAPITAL AND RESERVES

Called up share capital

10

200

200

Fair value reserve

11

(4,370,439

)

(4,134,439

)

Retained earnings

10,044,557

9,499,869

SHAREHOLDERS' FUNDS

5,674,318

5,365,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 25 September 2026 and were signed on its behalf by:

Adrian Richard Goldsmith - Director

1.	STATUTORY INFORMATION

Fortdene 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified to include investment properties at fair value.

Related party exemption

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements

In applying the company's accounting policies the directors are required to make judgements in determining the carrying amounts of assets and liabilities.

The critical judgements made by the directors relate to assessing:

the market value of the investment properties,

the recoverability of certain trade and other debtors.

Turnover

Turnover represents operating lease income from investment properties which is recognised in profit or loss on a straight line basis over the lease term. Lease incentives are spread over the lease term.

Investment property

Investment properties are initially measured at cost which comprises the purchase price and any directly attributable expenditure. Investment properties for which fair value can be measured reliably without undue cost or effort are remeasured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Fair value is determined by the directors by reference to reports procured from independent qualified valuers who use the investment method of valuation. This approach involves applying market-derived capitalisation yields to current and market-derived future income streams with appropriate adjustments for income voids arising from vacancies or rent-free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions and are considered to be key inputs in the valuation. Where such reports are not available the directors prepare the valuation internally using the same methodology.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds only basic financial instruments which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and loans.

Cash and cash equivalents - these include cash in hand and deposits held with banks.

Trade and other debtors - these are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount expected to be receivable, net of any impairment.

Trade and other creditors and loans - these are initially measured at the transaction price and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

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 that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. Deferred tax on investment properties held at fair value is measured using the rates and allowances that would apply to the sale of the assets.

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.

Going concern

The company owns a portfolio of commercial properties tenanted by quality tenants and financed by loans repayable by instalments. As a result of its investment in property, the company has net current liabilities of £1,470,385 (2025 - £1,829,230). Of this balance £1,305,7627 (2025 - £1,452,753) is due to Prestigic Holdings Limited who has confirmed that it will continue to support the company and will not require repayment of these funds to the detriment of the company's creditors in the foreseeable future.

Projections indicate that the rental income from the remaining properties is sufficient to meet the repayments due on the loan from the Trustees of the Prestigic Holdings Limited Retirement Benefit Scheme and the group's overhead expenditure.

As a consequence the directors believe that the company is well placed to manage its business risks successfully. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2025

7,820,000

Revaluations

(236,000

)

At 31 May 2026

7,584,000

NET BOOK VALUE

At 31 May 2026

7,584,000

At 31 May 2025

7,820,000

The investment properties held at 31 May 2026 were valued as at that date at £7,584,000 (2025 - £7,820,000). The properties were valued by Adrian Goldsmith, a director, on an open market value basis.

The original cost of the properties was £11,954,439 (2025 - £11,954,439).

Fair value at 31 May 2026 is represented by:

£

Valuation in 2016

54,829

Valuation in 2017

573,158

Valuation in 2018

(488,064

)

Valuation in 2019

(667,952

)

Valuation in 2020

(594,309

)

Valuation in 2021

(1,561,555

)

Valuation in 2022

278,500

Valuation in 2023

(1,109,972

)

Valuation in 2024

(619,074

)

Valuation in 2026

(236,000

)

Cost

11,954,439

7,584,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

28,712

26,642

Other debtors

-

20

Prepayments and accrued income

1,240

1,240

29,952

27,902

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans

-

374,194

Other loans

187,638

175,023

Trade creditors

26,101

1,024

Corporation tax

79,142

66,877

VAT recoverable

-

1,085

Other creditors

82,823

70,204

Amounts owed to group undertakings

1,305,627

1,452,753

Accruals and deferred income

63,792

81,563

1,745,123

2,222,723

The amounts owed to group undertakings are unsecured and have no fixed repayment terms.

The Other loans relate to a loan from the Trustees of the Prestigic Holdings Retirement Benefit Scheme.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other loans - amounts falling

due within one to two years

201,163

187,638

Other loans - amounts falling

due within two to five years

70,226

271,389

271,389

459,027

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

-

374,194

Other loans

459,027

634,050

459,027

1,008,244

The other loans are secured by way of a fixed charge over Bohunt Manor, Liphook in favour of the Trustees of the Prestigic Holdings Limited Retirement Benefit Scheme dated 28 September 2023.

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

167,908

166,113

Deferred

tax

£

Balance at 1 June 2025

166,113

Transfer from profit and loss

account

1,795

Balance at 31 May 2026

167,908

The provision represents tax on accelerated capital allowances.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

200

Ordinary

£1

200

200

11.

RESERVES

Fair

value

reserve

£

At 1 June 2025

(4,134,439

)

Fair value revision during year

(236,000

)

At 31 May 2026

(4,370,439

)

12.	CONTINGENT LIABILITIES

The company is included in a group registration for VAT purposes and is therefore jointly and severally liable for all other group companies' unpaid debts in this connection, amounting to £29,456 (2025 - £33,225) at 31 May 2026.

13.	ULTIMATE CONTROLLING PARTY

Throughout the year the company was controlled by its holding company, Prestigic Holdings Limited of 30 Macaulay Road, London, SW4 0QX, the ultimate owner is Adrian Richard Goldsmith.