Fortress Availability Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10208176 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

FORTRESS AVAILABILITY SERVICES LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

Chartered Accountants' Report

9

DIRECTORS:

A J Lawton

L J Lawton

K Tilley

P B Barry-Walsh

REGISTERED OFFICE:

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

REGISTERED NUMBER:

10208176 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

The directors present their report with the financial statements of the company for the year ended 30 April 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Business Continuity Services and Recovery Centre.

REVIEW OF BUSINESS

This has been an extremely challenging period for Fortress Availability Services (Fortress).

The main source of revenues and particularly of new business for the company was Work Area Recovery, otherwise known as fallback office.

The pandemic forced homeworking. This demonstrated clearly that staff could continue to be productive when working from home. As a result, companies came to the conclusion that spending on Work Area Recovery was unnecessary and so contracts were cancelled. Most impactful to Fortress in its phase of growth was the eradication of the significant pipeline of business that had been built up in the preceding years and that was expected to close in 2020.

Showing great innovation, however, we invented and patented the ResKube solution, which provides homeworkers with the resilience that they would have previously experienced in the office. This ensures our continued relevance and value to enterprises around the world long into the future.

We are already a significant and developing pipeline of business and a strong team of partners that will take ResKube to market.

Underpinned by the quality of our people the strength of our long-standing customer relationships, we are confident of being able to build back the business rapidly and profitably, and are optimistic about the medium-term prospects.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2020 to the date of this report.

A J Lawton

L J Lawton

K Tilley

P B Barry-Walsh

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A J Lawton - Director

6 July 2021

FIXED ASSETS

Intangible assets

4

-

1,689

Tangible assets

5

263,636

66,707

263,636

68,396

CURRENT ASSETS

Debtors

6

44,566

199,964

Cash at bank

2,004

454,754

46,570

654,718

CREDITORS

Amounts falling due within one year

7

443,299

210,647

NET CURRENT (LIABILITIES)/ASSETS

(396,729

)

444,071

TOTAL ASSETS LESS CURRENT LIABILITIES

(133,093

)

512,467

CREDITORS

Amounts falling due after more than one year

8

433,365

365,081

NET (LIABILITIES)/ASSETS

(566,458

)

147,386

CAPITAL AND RESERVES

Called up share capital

10

266

266

Share premium

11

1,074,875

1,074,875

Retained earnings

11

(1,641,599

)

(927,755

)

SHAREHOLDERS' FUNDS

(566,458

)

147,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 6 July 2021 and were signed on its behalf by:

L J Lawton - Director

1.	STATUTORY INFORMATION

Fortress Availability Services 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Despite the substantial loss incurred in the year the Company has continued to trade due to the support of the directors and private investment. Due to the continued support since the balance sheet date the going concern basis of preparation remains appropriate

Turnover

Turnover represents the net invoiced sales services, excluding value added tax. Turnover is recognised when the rights to consideration in relation to services provided becomes due.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Government grants

In accordance with s24 of FRS 102 these are treated using the accruals model and so are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grants are intended to compensate.

The entity has received the following from the UK government in respect of COVID 19 grants and reliefs:

Coronavirus Job retention Scheme (CJRS) £51,979

Interest settlement in respect of the Bounce Back Loan Scheme (BBLS) £1,042

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 May 2020

and 30 April 2021

44,328

AMORTISATION

At 1 May 2020

42,639

Amortisation for year

1,689

At 30 April 2021

44,328

NET BOOK VALUE

At 30 April 2021

-

At 30 April 2020

1,689

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2020

463

141,614

173,903

315,980

Additions

-

142,600

174,911

317,511

At 30 April 2021

463

284,214

348,814

633,491

DEPRECIATION

At 1 May 2020

123

91,068

158,082

249,273

Charge for year

85

48,286

72,211

120,582

At 30 April 2021

208

139,354

230,293

369,855

NET BOOK VALUE

At 30 April 2021

255

144,860

118,521

263,636

At 30 April 2020

340

50,546

15,821

66,707

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

3,820

191,048

Other debtors

29

29

Prepayments

40,717

8,887

44,566

199,964

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Other loans (see note 9)

10,000

-

Trade creditors

309,004

53,875

Tax

-

7

Social security and other taxes

15,031

9,959

VAT

38,498

77,290

Directors' current accounts

69,164

69,164

Accrued expenses

1,602

352

443,299

210,647

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Other loans (see note 9)

104,233

71,420

Directors' loan accounts

329,132

293,661

433,365

365,081

9.

LOANS

An analysis of the maturity of loans is given below:

30.4.21

30.4.20

£

£

Amounts falling due within one year or on demand:

Other loans

10,000

-

Amounts falling due between one and two years:

Other loans - 1-2 years

10,000

-

Amounts falling due between two and five years:

Other loans - 2-5 years

94,233

71,420

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.21

30.4.20

value:

£

£

26,628

Ordinary

0.01

266

266

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 May 2020

(927,755

)

1,074,875

147,120

Deficit for the year

(713,844

)

(713,844

)

At 30 April 2021

(1,641,599

)

1,074,875

(566,724

)

12.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed the directors £398,296 (2020 - £362,825).

The loan is interest free and has no fixed date for repayment.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fortress Availability Services Limited for the year ended 30 April 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fortress Availability Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fortress Availability Services Limited and state those matters that we have agreed to state to the Board of Directors of Fortress Availability Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fortress Availability Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fortress Availability Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fortress Availability Services Limited. You consider that Fortress Availability Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fortress Availability Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

6 July 2021