Company No: 00506532 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	8,872		8,872
Investment property	4	1,850,000		1,938,000
Investments	5	1,768,700		1,387,641
		3,627,572		3,334,513
Current assets
Stocks		302,133		302,133
Debtors	6	6,806		7,647
Cash at bank and in hand		730,464		563,754
		1,039,403		873,534
Creditors: amounts falling due within one year	7	( 17,658)		( 18,298)
Net current assets		1,021,745		855,236
Total assets less current liabilities		4,649,317		4,189,749
Provision for liabilities		( 313,301)		( 228,073)
Net assets		4,336,016		3,961,676
Capital and reserves
Called-up share capital	8	20,000		20,000
Profit and loss account	10	4,316,016		3,941,676
Total shareholders' funds		4,336,016		3,961,676

For the financial year ending 31 August 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Fort George Limited (registered number: 00506532) were approved and authorised for issue by the Board of Directors on 03 October 2026. They were signed on its behalf by:

Mr J C Willcocks Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fort George Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the amount receivable in respect of rental income for the year.

Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Provision for deferred tax is made on the difference between the carrying amount and the historic cost of investment properties and listed investments for taxation purposes, after taking account of the availability of indexation allowance.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	20 % reducing balance
Office equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stock are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell, the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Fixtures and fittings		Office equipment		Total
	£		£		£
Cost
At 01 September 2025	8,872		1,936		10,808
At 31 August 2026	8,872		1,936		10,808
Accumulated depreciation
At 01 September 2025	0		1,936		1,936
At 31 August 2026	0		1,936		1,936
Net book value
At 31 August 2026	8,872		0		8,872
At 31 August 2025	8,872		0		8,872

4. Investment property

	Investment property
	£
Valuation
As at 01 September 2025	1,938,000
Fair value movement	1,540
Disposals	(89,540)
As at 31 August 2026	1,850,000

The Investment Properties were revalued by the directors on 31 August 2026. The valuation was based on open market value for existing use.

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 September 2025	1,387,641		1,387,641
Additions	10,144		10,144
Disposals	( 2,235)		( 2,235)
Movement in fair value	373,150		373,150
At 31 August 2026	1,768,700		1,768,700
Carrying value at 31 August 2026	1,768,700		1,768,700
Carrying value at 31 August 2025	1,387,641		1,387,641

6. Debtors

	2026		2025
	£		£
Trade debtors	6,436		6,786
Other debtors	370		861
	6,806		7,647

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Accruals	6,166		13,751
Corporation tax	11,492		4,547
	17,658		18,298

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each	20,000		20,000

9. Related party transactions

Other related party transactions

	2026		2025
	£		£
Interest received from associated companies	0		6,000

10. Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £1,168,264 (2025 - £878,802). These reserves represent the cumulative unrealised revaluation gains on the company's investment portfolio and investment properties, net of the provision of deferred taxation thereon.