REGISTERED NUMBER: SC527814 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

FCE GROUP LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Rintoul

N Rintoul

R Rintoul

REGISTERED OFFICE:

Taylor Stiles Building

Methilhaven Road

Leven

Fife

KY8 3LA

REGISTERED NUMBER:

SC527814 (Scotland)

ACCOUNTANTS:

S&W Partners (Scotland) Limited

Cluny Court

John Smith Business Park

Kirkcaldy

Fife

KY2 6QJ

FIXED ASSETS

Tangible assets

4

707,620

655,689

Investments

5

200

200

Investment property

6

4,984,058

4,702,210

5,691,878

5,358,099

CURRENT ASSETS

Debtors

7

747,018

122,709

Cash at bank

91,679

526,923

838,697

649,632

CREDITORS

Amounts falling due within one year

8

(172,939

)

(708,752

)

NET CURRENT ASSETS/(LIABILITIES)

665,758

(59,120

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,357,636

5,298,979

CREDITORS

Amounts falling due after more than one year

9

(2,210

)

-

PROVISIONS FOR LIABILITIES

11

(209,204

)

(144,168

)

NET ASSETS

6,146,222

5,154,811

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

169,450

362,803

Retained earnings

5,976,672

4,791,908

6,146,222

5,154,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 4 December 2025 and were signed on its behalf by:

J Rintoul - Director

1.	STATUTORY INFORMATION

FCE Group Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

At the period end the company had net current assets of £520,758 (2024 - net current liabilities of £59,120). The company continues to be supported by related parties who provide funding for operations. The operational funding support is expected to continue for a period of at least one year after the date of signing the financial statements.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about FCE Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

TANGIBLE FIXED ASSETS

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

Heritable property

-

2% per annum on cost

Fixtures and fittings

-

10% per annum on cost

Motor vehicles

-

25% per annum reducing balance and 10% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

INCOME RECOGNITION

Rental income is recognised in the period in which it is due to be received from various commercial and private tenants. Income is reported excluding Value Added Tax.

Income from group undertakings is recorded in the period in which it is received.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Heritable

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2024

676,503

-

43,035

190,000

909,538

Additions

-

24,000

-

73,567

97,567

At 31 May 2025

676,503

24,000

43,035

263,567

1,007,105

DEPRECIATION

At 1 June 2024

216,971

-

25,821

11,057

253,849

Charge for year

13,530

4,405

4,304

23,397

45,636

At 31 May 2025

230,501

4,405

30,125

34,454

299,485

NET BOOK VALUE

At 31 May 2025

446,002

19,595

12,910

229,113

707,620

At 31 May 2024

459,532

-

17,214

178,943

655,689

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2024

and 31 May 2025

200

NET BOOK VALUE

At 31 May 2025

200

At 31 May 2024

200

6.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2024

4,702,210

Additions

137,166

Revaluations

144,682

At 31 May 2025

4,984,058

NET BOOK VALUE

At 31 May 2025

4,984,058

At 31 May 2024

4,702,210

Cost or valuation at 31 May 2025 is represented by:

£

Valuation in 2025

608,935

Cost

4,375,123

4,984,058

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

4,375,123

2,766,746

Investment property was valued on an open market basis on 31 May 2025 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

508,806

-

Other debtors

238,212

122,709

747,018

122,709

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 10)

6,629

-

Amounts owed to group undertakings

59,473

399,572

Taxation and social security

65,418

55,483

Other creditors

41,419

253,697

172,939

708,752

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 10)

2,210

-

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

6,629

-

Between one and five years

2,210

-

8,839

-

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

209,204

144,168

Deferred

tax

£

Balance at 1 June 2024

144,168

Provided during year

65,036

Balance at 31 May 2025

209,204

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

2025

2024

£

£

R Rintoul

Balance outstanding at start of year

33,941

3,100

Amounts advanced

127,261

100,889

Amounts repaid

(100,000

)

(70,048

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,202

33,941

N Rintoul

Balance outstanding at start of year

39,961

59,621

Amounts advanced

134,754

80,456

Amounts repaid

(70,000

)

(100,116

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

104,715

39,961

J Rintoul

Balance outstanding at start of year

(240,768

)

(53,284

)

Amounts advanced

304,913

132,620

Amounts repaid

(60,000

)

(320,104

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,145

(240,768

)

Interest has been charged at 2.25% on any overdrawn balance over £10,000. No fixed terms of repayment have been agreed.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of section 35AC of the Financial Reporting Standard 102 1a '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.