REGISTERED NUMBER: 06309778 (England and Wales)

FED3 PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L B Fallon

Mr J P Downey

Mr A Entwistle

Mr G H Pratt

Mr S A F Newbould

SECRETARY:

Mr L B Fallon

REGISTERED OFFICE:

First Floor

Shire House

Pyramid Close

Northampton

NN3 8PH

REGISTERED NUMBER:

06309778 (England and Wales)

ACCOUNTANTS:

Blencowes

15 High Street

Brackley

Northamptonshire

NN13 7DH

FIXED ASSETS

Intangible assets

4

3,208

5,041

Tangible assets

5

166,462

195,338

Investments

6

-

-

169,670

200,379

CURRENT ASSETS

Debtors

7

1,425,718

1,459,549

Cash at bank

934,095

857,399

2,359,813

2,316,948

CREDITORS

Amounts falling due within one year

8

977,706

821,271

NET CURRENT ASSETS

1,382,107

1,495,677

TOTAL ASSETS LESS CURRENT LIABILITIES

1,551,777

1,696,056

CREDITORS

Amounts falling due after more than one year

9

(4,376

)

(14,766

)

PROVISIONS FOR LIABILITIES

(35,475

)

(42,158

)

NET ASSETS

1,511,926

1,639,132

CAPITAL AND RESERVES

Called up share capital

11

950

950

Retained earnings

12

1,510,976

1,638,182

SHAREHOLDERS' FUNDS

1,511,926

1,639,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 11 December 2025 and were signed on its behalf by:

Mr A Entwistle - Director

Mr J P Downey - Director

Mr L B Fallon - Director

1.	STATUTORY INFORMATION

Fed3 Projects 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated

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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from a project is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to a standard formula that calculates the stage of completion based on start and expected completion dates.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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 three years.

Tangible fixed assets

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

Improvements to property

-

25% on cost

Plant and machinery

-

Straight line basis over 10 year period

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on Cost

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 taxation

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.

Hire purchase and leasing commitments

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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable or payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance/accrual model.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2024

and 30 April 2025

12,970

AMORTISATION

At 1 May 2024

7,929

Charge for year

1,833

At 30 April 2025

9,762

NET BOOK VALUE

At 30 April 2025

3,208

At 30 April 2024

5,041

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2024

21,030

23,612

21,323

Additions

-

739

-

Disposals

-

(2,893

)

(100

)

At 30 April 2025

21,030

21,458

21,223

DEPRECIATION

At 1 May 2024

21,030

16,942

11,663

Charge for year

-

1,766

1,764

Eliminated on disposal

-

(2,302

)

(66

)

At 30 April 2025

21,030

16,406

13,361

NET BOOK VALUE

At 30 April 2025

-

5,052

7,862

At 30 April 2024

-

6,670

9,660

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2024

331,811

39,132

436,908

Additions

-

15,150

15,889

Disposals

-

(14,033

)

(17,026

)

At 30 April 2025

331,811

40,249

435,771

DEPRECIATION

At 1 May 2024

167,858

24,077

241,570

Charge for year

29,945

6,880

40,355

Eliminated on disposal

-

(10,248

)

(12,616

)

At 30 April 2025

197,803

20,709

269,309

NET BOOK VALUE

At 30 April 2025

134,008

19,540

166,462

At 30 April 2024

163,953

15,055

195,338

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2024

50,000

Disposals

(50,000

)

At 30 April 2025

-

PROVISIONS

At 1 May 2024

50,000

Eliminated on disposal

(50,000

)

At 30 April 2025

-

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

384,470

378,957

Amounts recoverable on contracts

359,152

479,260

Other debtors

594,755

545,501

Prepayments and accrued income

87,341

55,831

1,425,718

1,459,549

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,404

10,149

Trade creditors

45,642

17,890

Tax

102,365

78,162

Social security and other taxes

21,341

29,169

VAT

110,635

79,717

Other creditors

423,420

426,983

Directors' current accounts

12,490

11,214

Accruals and deferred income

251,409

167,987

977,706

821,271

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-5 years

4,376

14,766

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

109,217

104,345

Between one and five years

88,356

62,581

197,573

166,926

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

900

Ordinary shares

100p

900

900

100

Ordinary 'B' shares

50p

50

50

950

950

12.

RESERVES

Retained

earnings

£

At 1 May 2024

1,638,182

Profit for the year

194,994

Dividends

(322,200

)

At 30 April 2025

1,510,976

13.	RELATED PARTY DISCLOSURES

FED3 Projects (Commercial) Limited

During the year the company provided loans to FED3 Projects (Commercial) Limited, a company in which Mr A Entwistle and Mr J P Downey are also directors. The total loan due to FED3 Projects (Commercial) Limited at the balance sheet date amounted to £593,939 (2024 - £542,285).

FED3 Projects Limited Share Protection Trust

As at the year to 30 April 2025, the company is holding monies of £413,203 ( 2024 £408,882) from a crystalized insurance policy. The monies received is due to the FED3 Projects Limited Share Protection Trust.

14.	ULTIMATE CONTROLLING PARTY