{"name":"FORTIS DEVELOPMENTS LTD","company_number":"08209445","status":"Liquidation","type":"Private Limited Company","incorporated":"2012-09-11","dissolved":null,"registered_office":"Pearl Assurance House, 319 Ballards Lane, London, N12 8LY","postcode":"N12 8LY","sic_codes":[{"code":41100,"description":"Development of building projects"},{"code":68100,"description":"Buying and selling of own real estate"}],"principal_activity":null,"previous_names":[],"warnings":[],"accounts":{"category":"Total Exemption Full","year_end":"29 March","last_made_up_to":"2022-03-31","next_due":"2024-06-27"},"employees":null,"financials":[{"financial_date":"2022-03-31","net_assets":-2866786},{"financial_date":"2021-03-31","net_assets":-2475037},{"financial_date":"2020-03-31","net_assets":-1853338,"cash":27445},{"financial_date":"2019-03-31","net_assets":295260,"cash":69413},{"financial_date":"2018-03-31","net_assets":795661,"cash":499714}],"officers":{"current":1,"resigned":4,"complete":true,"note":"Names and details of individual officers are on the People page (subscriber-only on this site) and free at Companies House."},"charges":{"total":0,"outstanding":0},"gazette_notices":[{"date":"2024-05-28","kind":"insolvency"},{"date":"2024-05-28","kind":"insolvency"},{"date":"2024-05-10","kind":"insolvency"},{"date":"2023-06-12","kind":"insolvency"}],"insolvency_outcome":null,"ai_summary":"FORTIS DEVELOPMENTS LTD represents a failed highly-leveraged property development vehicle that grew to £65M in assets before collapsing into insolvency, with net assets deteriorating from a positive £295K (2019) to negative £2.87M (2022) and the company now in formal liquidation. The business model—operating with consistently thin equity margins (never exceeding 6% of assets) and near-zero cash reserves—was structurally vulnerable to any market disruption, which materialized circa 2020. With all director loans repaid, the subsidiary investment disposed of, zero employees, and negative net assets exceeding £2.8M, this entity has no strategic future and exists solely for the purposes of orderly creditor distribution and dissolution.","website":"https://fortisdevelopments.co.uk/","links":{"page":"https://www.companiesintheuk.co.uk/ltd/fortis-developments","people":"https://www.companiesintheuk.co.uk/company/fortis-developments/people","filing_history":"https://www.companiesintheuk.co.uk/company/fortis-developments/filing-history","companies_house":"https://find-and-update.company-information.service.gov.uk/company/08209445","financials":"https://www.companiesintheuk.co.uk/company/fortis-developments/financial","gazette":"https://www.companiesintheuk.co.uk/company/fortis-developments/gazette","control":"https://www.companiesintheuk.co.uk/company/fortis-developments/control","charges":"https://www.companiesintheuk.co.uk/company/fortis-developments/charges","ai_analysis":"https://www.companiesintheuk.co.uk/company/fortis-developments/analysis"},"source":"CompaniesInTheUK, from Companies House, The Gazette and other public registers (see /support/about). Cite as: CompaniesInTheUK, https://www.companiesintheuk.co.uk/ltd/fortis-developments"}