REGISTERED NUMBER: 00427249 (England and Wales)

F.A. SECRETT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C L Secrett

J B Secrett

N Laundy

G Secrett

REGISTERED OFFICE:

Hurst Farm

Chapel Lane

MILFORD

Surrey

GU8 5HU

REGISTERED NUMBER:

00427249 (England and Wales)

ACCOUNTANTS:

Shaw Gibbs Limited

Wey Court West

Union Road

Farnham

Surrey

GU9 7PT

FIXED ASSETS

Tangible assets

4

367,984

234,972

Investments

5

459,521

476,917

827,505

711,889

CURRENT ASSETS

Stocks

198,594

188,471

Debtors

6

801,734

808,441

Cash at bank

811,379

1,061,066

1,811,707

2,057,978

CREDITORS

Amounts falling due within one year

7

(287,484

)

(279,484

)

NET CURRENT ASSETS

1,524,223

1,778,494

TOTAL ASSETS LESS CURRENT LIABILITIES

2,351,728

2,490,383

CAPITAL AND RESERVES

Called up share capital

616,615

616,615

Share premium

99,350

99,350

Retained earnings

1,635,763

1,774,418

SHAREHOLDERS' FUNDS

2,351,728

2,490,383

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.

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 19 September 2025 and were signed on its behalf by:

G Secrett - Director

1.	STATUTORY INFORMATION

F.A. Secrett 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each assets over its estimated useful life.

Car park & roads

(included in buildings & premises)

10% SL

Fixtures & fittings

10% SL

Office equipment

12.5% SL

Plant and equipment

12.5% SL

Glasshouses & sheds

12.5% SL

Motor vehicles

25% SL

Buildings & premises

5% SL

New nursery

linked to a useful life of 45 years

No depreciation is charged on freehold land, the cost of which is included within "buildings & premises".

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution benefit scheme for general staff members and a separate executive scheme for the directors. The assets of both schemes are held separately from those of the company, with the assets of the staff scheme being in an independently administered fund. Contributions payable for the year for both schemes are charged in the profit and loss account. During the year the amounts charged to the profit and loss account were £11,141 (2023: £8,325) for the staff scheme and £1,118 (2023: £1,013) for the directors' scheme. At the balance sheet date the amount of unpaid contributions in respect of the financial year was £2,659 (2023: £2,275).

Unlisted investments

Investments in the shares of unquoted companies are stated at cost, less a provision for impairment if applicable.

Details of other unlisted investments are given in note 6.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 49 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Buildings

machinery

£

£

£

COST

At 1 January 2024

1,073,895

1,416,175

1,861,003

Additions

49,447

-

131,997

At 31 December 2024

1,123,342

1,416,175

1,993,000

DEPRECIATION

At 1 January 2024

961,113

1,416,132

1,763,838

Charge for year

10,773

43

32,069

At 31 December 2024

971,886

1,416,175

1,795,907

NET BOOK VALUE

At 31 December 2024

151,456

-

197,093

At 31 December 2023

112,782

43

97,165

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

296,653

4,760

4,652,486

Additions

3,500

3,382

188,326

At 31 December 2024

300,153

8,142

4,840,812

DEPRECIATION

At 1 January 2024

271,671

4,760

4,417,514

Charge for year

12,064

365

55,314

At 31 December 2024

283,735

5,125

4,472,828

NET BOOK VALUE

At 31 December 2024

16,418

3,017

367,984

At 31 December 2023

24,982

-

234,972

Included in cost of land and buildings is freehold land of £ 64,207 (2023 - £ 64,207 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

16,320

DEPRECIATION

At 1 January 2024

4,690

Charge for year

2,450

At 31 December 2024

7,140

NET BOOK VALUE

At 31 December 2024

9,180

At 31 December 2023

11,630

5.	FIXED ASSET INVESTMENTS

2024

2023

£

£

Loans to group undertakings

458,137

475,533

Other investments not loans

1,384

1,384

459,521

476,917

Additional information is as follows:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

839,393

1,384

840,777

PROVISIONS

At 1 January 2024

and 31 December 2024

839,393

-

839,393

NET BOOK VALUE

At 31 December 2024

-

1,384

1,384

At 31 December 2023

-

1,384

1,384

Loans to

group

undertakin

£

At 1 January 2024

475,533

New in year

6,032

Other movement

(23,428

)

At 31 December 2024

458,137

The balance shown under "Loans to group undertakings" is denominated in euros and is technically repayable on demand, although repayment will not be requested while the Spanish company concerned meets its obligations to FA Secrett Ltd under the terms of a supply agreement.

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

12,026

20,642

Amounts owed by group undertakings

545,647

545,647

Other debtors

54,206

42,207

Corporation tax recoverable

7,544

12,057

VAT

14,144

4,241

Prepayments and accrued income

4,835

4,348

638,402

629,142

Amounts falling due after more than one year:

Deferred tax asset

163,332

179,299

Aggregate amounts

801,734

808,441

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

-

1,735

Trade creditors

202,180

197,389

Social security and other taxes

22,785

21,818

Accruals & other creditors

62,519

58,542

287,484

279,484

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

-

1,735

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

-

1,735

The hire purchase liabilities are secured on the assets to which they relate.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

C L Secrett

Balance outstanding at start of year

19,469

19,469

Amounts advanced

372

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,841

19,469

G Secrett

Balance outstanding at start of year

10,924

10,924

Amounts advanced

13,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

23,924

10,924

11.	ULTIMATE CONTROLLING PARTY

The controlling party is FAS Holdings Limited.

The ultimate controlling party is C L Secrett.