# Fortis Wealth Ltd (12066783)

> Why UK company 12066783 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12066783

- **Status:** Administration ended
- **Administration began:** 2022-09-09
- **Administrators' firm:** FRP Advisory
- **Formerly:** Kandu Advice Ltd; Fortis Wealth Ltd
- **Incorporated:** 2019-06-24
- **Location:** Orpington
- **Industry:** 64999 Financial intermediation not elsewhere classified

## Why it went into administration

- Parent or group failure

## From the administrators' statement

The Company was incorporated on 24 June 2019 and was set up for the purpose of offering a fixed income bond to high net worth, sophisticated and institutional investors. The bond offered a 5% fixed return which could also be held within an ISA wrapper. In order to procure investment, the Company unlisted a platform administered by Goji and is understood to have raised approx. £670k in investment funds. These funds were then lent to other corporate entities.

The investment funds comprised the Company's primary source of income, however, the Company also received funds from its parent company, SHP, and via a BBL from Barclays.

As at the date of Administration, the Company was understood to be owed 2 external loans of approx. £500k and 4 loans to connected companies, of approx. £171k. These loans are estimated to be severely impaired due to one of the debtors, Blueprint, entering liquidation in May 2022.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12066783/filing-history/MzM1NzgyMDA3NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12066783

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.