REGISTERED NUMBER: 03526893 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

FELLOWS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

D J Bunn

REGISTERED OFFICE:

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

REGISTERED NUMBER:

03526893 (England and Wales)

ACCOUNTANTS:

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

43,859

59,598

Investments

6

40

40

43,899

59,638

CURRENT ASSETS

Stocks

6,997

8,162

Debtors

7

42,618

35,819

Cash at bank and in hand

38,814

37,896

88,429

81,877

CREDITORS

Amounts falling due within one year

8

55,209

67,905

NET CURRENT ASSETS

33,220

13,972

TOTAL ASSETS LESS CURRENT LIABILITIES

77,119

73,610

CREDITORS

Amounts falling due after more than one year

9

(863

)

(11,340

)

PROVISIONS FOR LIABILITIES

(8,020

)

(8,704

)

NET ASSETS

68,236

53,566

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

68,234

53,564

68,236

53,566

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 director acknowledges his 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 director and authorised for issue on 8 January 2026 and were signed by:

D J Bunn - Director

1.	STATUTORY INFORMATION

Fellows Ltd. 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 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.

Turnover

Revenue is recognised when it is probable that future economic benefits will flow to the company from the sale of goods and services and is measured as the fair value of consideration which the company expects to receive from those transactions. Sales of goods are recognised at the point of sale or on delivery of the goods and when the risks and rewards of ownership have passed to the customer.

Revenue is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is initially measured at cost. Goodwill is now fully amortised.

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

-

Straight line over 10 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

Straight line over 5 years

Computer equipment

-

20% on reducing balance

Stocks

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

Stocks are valued on a first-in-first-out basis.

Financial instruments

Basic financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

56,979

AMORTISATION

At 1 June 2024

and 31 May 2025

56,979

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 June 2024

11,945

176,237

77,366

Additions

-

4,092

164

Impairments

-

-

-

At 31 May 2025

11,945

180,329

77,530

DEPRECIATION

At 1 June 2024

2,013

146,244

70,837

Charge for year

1,194

8,530

1,675

Impairments

-

-

-

At 31 May 2025

3,207

154,774

72,512

NET BOOK VALUE

At 31 May 2025

8,738

25,555

5,018

At 31 May 2024

9,932

29,993

6,529

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

24,395

13,260

303,203

Additions

-

600

4,856

Impairments

(15,785

)

-

(15,785

)

At 31 May 2025

8,610

13,860

292,274

DEPRECIATION

At 1 June 2024

13,290

11,221

243,605

Charge for year

1,280

529

13,208

Impairments

(8,398

)

-

(8,398

)

At 31 May 2025

6,172

11,750

248,415

NET BOOK VALUE

At 31 May 2025

2,438

2,110

43,859

At 31 May 2024

11,105

2,039

59,598

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2024

and 31 May 2025

40

NET BOOK VALUE

At 31 May 2025

40

At 31 May 2024

40

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

34,013

29,113

Other debtors

1,200

1,200

VAT

1,225

1,355

Prepayments and accrued income

6,180

4,151

42,618

35,819

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

10,484

10,226

Trade creditors

21,467

22,377

Tax

5,964

-

Social security and other taxes

4,640

3,192

Other creditors

910

7,608

Directors' loan accounts

382

13,272

Accruals and deferred income

11,362

11,230

55,209

67,905

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans - 1-2 years

863

10,485

Bank loans - 2-5 years

-

855

863

11,340

10.	LEASING AGREEMENTS

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

31.5.25

31.5.24

£

£

Within one year

22,800

22,800

Between one and five years

70,300

91,200

In more than five years

-

1,900

93,100

115,900

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fellows Ltd. for the year ended 31 May 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Fellows Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fellows Ltd. and state those matters that we have agreed to state to the director of Fellows Ltd. in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fellows Ltd. and its director for our work or for this report.

It is your duty to ensure that Fellows Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fellows Ltd.. You consider that Fellows Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fellows Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

8 January 2026