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REGISTERED NUMBER: 03896734 (England and Wales)













FUEL ACTIVE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FUEL ACTIVE LIMITED (REGISTERED NUMBER: 03896734)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUEL ACTIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Ms C M Leach
Mr. D E Lindsay
Mr C M S Lytle
Mrs Y Henshall-Bell
M6 Fuel Tech Llc





SECRETARY: Mr J Secher





REGISTERED OFFICE: 2 Glan-Y-Llyn Industrial Estate Cardiff
Taffs Well
Cardiff
CF15 7JD





REGISTERED NUMBER: 03896734 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

FUEL ACTIVE LIMITED (REGISTERED NUMBER: 03896734)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,655,523 1,812,719
Tangible assets 5 18,985 19,890
1,674,508 1,832,609

CURRENT ASSETS
Stocks 340,012 189,888
Debtors 6 924,432 1,227,437
Cash at bank 370,761 1,392,245
1,635,205 2,809,570
CREDITORS
Amounts falling due within one year 7 909,700 984,236
NET CURRENT ASSETS 725,505 1,825,334
TOTAL ASSETS LESS CURRENT LIABILITIES 2,400,013 3,657,943

CREDITORS
Amounts falling due after more than one year 8 849,328 785,153
NET ASSETS 1,550,685 2,872,790

CAPITAL AND RESERVES
Called up share capital 450,863 464,452
Share premium 9 8,472,221 8,472,221
Retained earnings 9 (7,372,399 ) (6,063,883 )
SHAREHOLDERS' FUNDS 1,550,685 2,872,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

FUEL ACTIVE LIMITED (REGISTERED NUMBER: 03896734)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





Mr C M S Lytle - Director


FUEL ACTIVE LIMITED (REGISTERED NUMBER: 03896734)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Fuel Active 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
From 2023 Fuel Active will capitalise work relating to new grants as intangible assets.
These assets will be amortised over 5 years on a straight-line basis, in line with the release of the grant income.

Tangible fixed assets
Assets acquired will be depreciated over their useful economic life, which under normal circumstances will be at the following annual rates:
Leasehold improvements - 20% / 5 years
Computer, telecoms and IT equipment - 50% / 2 years
Fixtures and fittings 33.3% / 3 years
Office equipment and tools 33.3% / 3 years.

Assets with a purchase price of £1,000 or less will be written off during the year of acquisition and treated as consumables.
Where assets are acquired for a specific project, the asset will be written off over the shorter of the life of the project or the useful economic life of the asset.
In the event that an asset's life is shortened to a period which is shorter than the original estimate of its useful economic life, depreciation will be accelerated to reflect its decline in value. Such a scenario would include test equipment which is subject to extreme operational conditions which damage the asset in pursuit of test results.

Items purchased prior to 2023 will follow the historic policy.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

FUEL ACTIVE LIMITED (REGISTERED NUMBER: 03896734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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 19 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Patents and Development
licences costs Totals
£ £ £
COST
At 1 January 2024 163,176 3,180,587 3,343,763
Additions 13,955 498,857 512,812
At 31 December 2024 177,131 3,679,444 3,856,575
AMORTISATION
At 1 January 2024 114,445 1,416,599 1,531,044
Amortisation for year 25,576 644,432 670,008
At 31 December 2024 140,021 2,061,031 2,201,052
NET BOOK VALUE
At 31 December 2024 37,110 1,618,413 1,655,523
At 31 December 2023 48,731 1,763,988 1,812,719

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 January 2024 52,256
Additions 12,847
At 31 December 2024 65,103
DEPRECIATION
At 1 January 2024 32,366
Charge for year 13,752
At 31 December 2024 46,118
NET BOOK VALUE
At 31 December 2024 18,985
At 31 December 2023 19,890

FUEL ACTIVE LIMITED (REGISTERED NUMBER: 03896734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 298,676 569,829
Other debtors 443,495 518,752
VAT 35,043 -
Prepayments and accrued income 51,933 44,278
Prepayments - loan interest 7,341 8,992
Prepayments - S455 87,944 85,586
924,432 1,227,437

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 192,464 132,867
Other creditors - Royalties 138,931 128,494
Tax - (4 )
PAYE and NIC taxes 47,154 41,476
Other creditors - sundry HMRC - (478 )
Pension Control Account - 3,570
VAT - 14,438
Other creditors - credit card 6,484 7,667
Accruals 141,872 188,367
Deferred Income 103,590 258,474
Deferred Grants 279,205 209,365
909,700 984,236

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Deferred government grants 849,328 785,153

9. RESERVES
Retained Share
earnings premium Totals
£ £ £

At 1 January 2024 (6,063,883 ) 8,472,221 2,408,338
Deficit for the year (1,308,516 ) (1,308,516 )
At 31 December 2024 (7,372,399 ) 8,472,221 1,099,822