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 PERIOD 1 JUNE 2017 TO 31 MARCH 2018

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

8

DIRECTORS:

A J Lawton

L J Lawton

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 period 1 June 2017 to 31 March 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of providing IT Security Software.

REVIEW OF BUSINESS

The directors are pleased with the Company's performance over its' first 2 years of trading which is ahead of the original

plan.

With 80% of sales to date providing ongoing recurring revenue, the current forward order book at the balance sheet date

is approximately to £910,000.

The aim is to continue adding long term contracts and thereby build the committed revenue. The projection is that the

business will be profitable from 2020, and the profitability increase significantly from this point.

In the shorter term the business has been funded by investment from a number of leading names in the industry with a

long heritage and experience of the model.

Our market continues to grow, as does our prospect pipeline, and as we are well funded we are in an ideal position to

take advantage of the opportunities that present themselves.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 June 2017 to the date of this report.

A J Lawton

L J Lawton

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

16 July 2018

FIXED ASSETS

Intangible assets

4

32,145

-

Tangible assets

5

129,320

168,558

161,465

168,558

CURRENT ASSETS

Debtors

6

4,021

74,669

Cash at bank

99,191

27,052

103,212

101,721

CREDITORS

Amounts falling due within one year

7

76,014

204,144

NET CURRENT ASSETS/(LIABILITIES)

27,198

(102,423

)

TOTAL ASSETS LESS CURRENT LIABILITIES

188,663

66,135

CREDITORS

Amounts falling due after more than one year

8

251,248

-

NET (LIABILITIES)/ASSETS

(62,585

)

66,135

CAPITAL AND RESERVES

Called up share capital

10

220

150

Share premium

11

504,921

244,970

Retained earnings

11

(567,726

)

(178,985

)

SHAREHOLDERS' FUNDS

(62,585

)

66,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16 July 2018 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

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.

The directors have made an assessment about the company's ability to continue as a going concern and they do

not consider there to be any material uncertainties. As a result they have adopted the going concern basis of

accounting.

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 nil years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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 period 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 period was 4 (2017 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

44,328

At 31 March 2018

44,328

AMORTISATION

Amortisation for period

12,183

At 31 March 2018

12,183

NET BOOK VALUE

At 31 March 2018

32,145

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2017

122,780

114,139

236,919

Additions

-

15,592

15,592

At 31 March 2018

122,780

129,731

252,511

DEPRECIATION

At 1 June 2017

30,695

37,666

68,361

Charge for period

19,174

35,656

54,830

At 31 March 2018

49,869

73,322

123,191

NET BOOK VALUE

At 31 March 2018

72,911

56,409

129,320

At 31 May 2017

92,085

76,473

168,558

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.5.17

£

£

Trade debtors

-

569

Other debtors

29

20,235

VAT

3,992

52,827

Prepayments

-

1,038

4,021

74,669

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.5.17

£

£

Other loans (see note 9)

-

150,000

Trade creditors

70,172

15,238

Social security and other taxes

1,630

-

Other creditors

961

-

Directors' current accounts

-

36,905

Accrued expenses

3,251

2,001

76,014

204,144

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.5.17

£

£

Other loans (see note 9)

107,754

-

Directors' loan accounts

143,494

-

251,248

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.18

31.5.17

£

£

Amounts falling due within one year or on demand:

Other loans

-

150,000

Amounts falling due between two and five years:

Other loans - 2-5 years

107,754

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.5.17

value:

£

£

22,000

Ordinary

0.01

220

150

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 June 2017

(178,985

)

244,970

65,985

Deficit for the period

(388,741

)

(388,741

)

Cash share issue

-

259,951

259,951

At 31 March 2018

(567,726

)

504,921

(62,805

)

12.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed the directors £143,494 (2017 - £36,905).

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 period ended 31 March 2018 which comprise the

Statement of Income and Retained Earnings, 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 period.

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

16 July 2018