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Registration number: 11039522

Featherstone Partners Limited
Annual Report and Financial Statements
for the Year Ended 30 September 2025

Featherstone Partners Limited

Contents

Company Information | 1
Directors' Report | 2
Statement of Directors' Responsibilities | 3
Independent Auditor's Report | 4 to 6
Profit and Loss Account | 7
Statement of Comprehensive Income | 8
Balance Sheet | 9
Statement of Changes in Equity | 10
Notes to the Financial Statements | 11 to 21

Featherstone Partners Limited

Company Information

Directors | T W B Forman Hardy P A Letley A D Cox S J I F Burke-Murphy R P Lanyon

Company secretary | HP Secretarial Services Limited

Registered office | Old Brewhouse Yattendon West Berkshire RG18 0UE

Auditors | UHY Ross Brooke 2 Old Bath Road Newbury Berkshire RG14 1QL

Featherstone Partners Limited

Directors' Report for the Year Ended 30 September 2025

The directors present their report and the financial statements for the year ended 30 September 2025.

Principal activity

The principal activity of the company is that of an investment and financial planning advisor.

Directors of the company

The directors who held office during the year were as follows:

T W B Forman Hardy

P A Letley

A D Cox

S J I F Burke-Murphy

A J May (resigned 8 January 2025)

The following director was appointed after the year end:

R P Lanyon (appointed 1 November 2025)

Directors' liabilities

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 15 January 2026 and signed on its behalf by:

......................................... A D Cox Director

Featherstone Partners Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Featherstone Partners Limited

Independent Auditor's Report to the Members of Featherstone Partners Limited

Opinion

We have audited the financial statements of Featherstone Partners Limited (the 'company') for the year ended 30 September 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its loss for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Featherstone Partners Limited

Independent Auditor's Report to the Members of Featherstone Partners Limited

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 3], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company and its industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation, employment regulation and health and safety regulation, corruption and fraud, and money laundering and we considered the effect to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.
We evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, and significant one-off or unusual transactions.

Featherstone Partners Limited

Independent Auditor's Report to the Members of Featherstone Partners Limited

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:
• Discussing with the directors and management their policies and procedures regarding compliance with laws and regulations;
• Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
• Considering the risk of acts by the company which were contrary to the applicable laws and regulations, including fraud.
Our audit procedures in relation to fraud included but were not limited to:
• Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
• Gaining an understanding of the internal controls established to mitigate risks related to fraud;
• Discussing amongst the engagement team the risks of fraud; and
• Addressing the risks of fraud through management override of controls by performing journal entry testing and analytical review procedures to identify any unusual or unexpected relationships
The primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Directors' Report has been prepared in accordance with applicable legal requirements.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Emily Ness BFP FCA (Senior Statutory Auditor)
For and on behalf of UHY Ross Brooke, Statutory Auditor
2 Old Bath Road
Newbury
Berkshire
RG14 1QL

16 January 2026

Featherstone Partners Limited

Profit and Loss Account for the Year Ended 30 September 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 536,015 | 550,460
Gross profit |  | 536,015 | 550,460
Administrative expenses |  | (899,956) | (878,390)
Operating loss | 4 | (363,941) | (327,930)
Other interest receivable and similar income | 5 | 2,673 | 722
Interest payable and similar expenses | 6 | (42,378) | (36,917)
|  | (39,705) | (36,195)
Loss before tax |  | (403,646) | (364,125)
Loss for the financial year |  | (403,646) | (364,125)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Featherstone Partners Limited

Statement of Comprehensive Income for the Year Ended 30 September 2025

| 2025 £ | 2024 £
Loss for the year | (403,646) | (364,125)
Capital instrument reserve movement | - | 1,000,000
Total comprehensive income for the year | (403,646) | 635,875

Featherstone Partners Limited

(Registration number: 11039522)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 11 | 16,364 | 19,544
Current assets |  |  |
Debtors | 12 | 78,495 | 83,169
Cash at bank and in hand |  | 404,263 | 171,255
|  | 482,758 | 254,424
Creditors: Amounts falling due within one year | 14 | (191,749) | (105,327)
Net current assets |  | 291,009 | 149,097
Total assets less current liabilities |  | 307,373 | 168,641
Creditors: Amounts falling due after more than one year | 14 | (1,331,449) | (1,289,071)
Net liabilities |  | (1,024,076) | (1,120,430)
Capital and reserves |  |  |
Called up share capital |  | 2,000,023 | 1,500,023
Other reserves |  | 56,542 | 85,429
Retained earnings |  | (3,080,641) | (2,705,882)
Shareholders' deficit |  | (1,024,076) | (1,120,430)

Approved and authorised by the Board on 15 January 2026 and signed on its behalf by:

......................................... A D Cox Director

Featherstone Partners Limited

Statement of Changes in Equity for the Year Ended 30 September 2025

| Share capital £ | Other reserves £ | Retained earnings £ | Total £
At 1 October 2023 | 1,000,023 | (857,532) | (2,398,796) | (2,256,305)
Loss for the year | - | - | (364,125) | (364,125)
Other comprehensive income | - | 1,000,000 | - | 1,000,000
Total comprehensive income | - | 1,000,000 | (364,125) | 635,875
New share capital subscribed | 500,000 | - | - | 500,000
Transfers | - | (57,039) | 57,039 | -
At 30 September 2024 | 1,500,023 | 85,429 | (2,705,882) | (1,120,430)

| Share capital £ | Other reserves £ | Retained earnings £ | Total £
At 1 October 2024 | 1,500,023 | 85,429 | (2,705,882) | (1,120,430)
Loss for the year | - | - | (403,646) | (403,646)
New share capital subscribed | 500,000 | - | - | 500,000
Transfers | - | (28,887) | 28,887 | -
At 30 September 2025 | 2,000,023 | 56,542 | (3,080,641) | (1,024,076)

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Old Brewhouse
Yattendon
West Berkshire
RG18 0UE
England

These financial statements were authorised for issue by the Board on 15 January 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the requirements of the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest pound.

Summary of disclosure exemptions

The Company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this Company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The Company has therefore taken advantage of exemptions from the following disclosure requirements:
- Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;
- Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash- settled share-based payments, explanation of modifications to arrangements;
- Section 33 'Related Party Disclosures': Compensation for key management personnel.

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Going concern

Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements, apart from those involving estimates, have had the most significant effect on amounts recognised in the financial statements.

Compound instruments The directors consider that certain of the company's shares in issue meet the criteria of compound instruments.

Key sources of estimation uncertainty
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Interest free loans

The company has received interest free unsecured loans. These have been amortised over the period of the loans. The directors have decided an appropriate effective interest rate for the amortisation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services rendered in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures, fittings and office equipment | 10% straight line
Computer equipment | 25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from clients for services performed in the ordinary course of business.

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Compound instruments

The compound parts of compound financial instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the financial liability is estimated as the fair value of the amount required to be paid as a dividend to the class A shareholder under the Company's articles of association. The financial liability is subsequently measured at fair value. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in the equity, net of income tax effects, and is not subsequently measured.

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Financial instruments

Classification
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of 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 third parties and investments in non-puttable ordinary shares. They are classified according to the substance of the contractual arrangements entered into.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs) unless the arrangement constitutes a financing arrangement. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the Balance Sheet when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled; or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Impairment
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

3 | Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Rendering of services | 536,015 | 550,460

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

4 | Operating loss

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 8,093 | 8,474

5 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | 2,673 | 722

6 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest expense on other finance liabilities | 42,378 | 36,917

7 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 543,295 | 500,967
Social security costs | 45,859 | 45,623
Other short-term employee benefits | 7,807 | 9,604
Pension costs, defined contribution scheme | 25,898 | 28,584
Other employee expense | 1,591 | 2,927
| 624,450 | 587,705

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Administration and support | 7 | 7
| 7 | 7

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

8 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 270,854 | 372,740
Contributions paid to money purchase schemes | 10,152 | 21,106
| 281,006 | 393,846

During the year the number of directors who were receiving benefits and share incentives was as follows:

| 2025 No. | 2024 No.
Accruing benefits under money purchase pension scheme | 3 | 3

9 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 10,500 | 11,860

10 | Taxation

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Loss before tax | (403,646) | (364,125)
Corporation tax at standard rate | (100,912) | (91,031)
Tax increase from effect of capital allowances and depreciation | 795 | 180
Effect of expense not deductible in determining taxable profit (tax loss) | 398 | -
Increase from tax losses for which no deferred tax asset was recognised | 99,719 | 90,851
Total tax charge/(credit) | - | -

The company has tax losses carried forward for an unlimited period of £3,106,040. The directors expect that the losses will be used in future periods. However, as this not certain no deferred tax asset has been recognised.

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

11 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Total £
Cost or valuation
At 1 October 2024 | 40,478 | 18,965 | 59,443
Additions | 4,913 | - | 4,913
At 30 September 2025 | 45,391 | 18,965 | 64,356
Depreciation
At 1 October 2024 | 30,443 | 9,456 | 39,899
Charge for the year | 6,267 | 1,826 | 8,093
At 30 September 2025 | 36,710 | 11,282 | 47,992
Carrying amount
At 30 September 2025 | 8,681 | 7,683 | 16,364
At 30 September 2024 | 10,035 | 9,509 | 19,544

12 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 48,016 | 28,088
Other debtors | 3,136 | 27,267
Prepayments | 27,343 | 27,814
| 78,495 | 83,169

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

13 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash at bank | 404,263 | 171,255

14 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 14,566 | 18,970
Accruals | 177,183 | 86,357
| 191,749 | 105,327
Due after one year |  |
Other financial liabilities | 1,331,449 | 1,289,071

The loans are all interest free until the due date of repayment for each tranche which fall on the fifth anniversay of the draw down date. The first repayment of £166,666 is due on 21 January 2023; £166,667 on 30 September 2023; £166,667 on 30 September 2024; £250,000 on 28 August 2025; £300,000 is on 23 September 2026 and a final repayment of £250,000 is due on 21 December 2027.
In the event thet the repayments are not made, interest shall accrue at a rate of 5% per annum until such a time as the loans are fully repaid.
The loans are recognised at amortised cost using the effective interest method, using an interest rate of 2.5% per annum. The total balance at the year end, using this method, is £1,331,449 (2024: 1,289,071). The interest charge recognised on the loans using this method is £16,418 (2024: £19,516).

15 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £25,898 (2024 - £28,584).

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

16 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A shares of £1 each | 2,000,003 | 2,000,003 | 1,500,003 | 1,500,003
Ordinary B shares of £1 each | 20 | 20 | 20 | 20
| 2,000,023 | 2,000,023 | 1,500,023 | 1,500,023

New shares allotted

During the year 500,000 Ordinary A shares having an aggregate nominal value of £500,000 were allotted for an aggregate consideration of £500,000.

Rights, preferences and restrictions

Ordinary A shares have the following rights, preferences and restrictions: A shares have full voting rights.
Ordinary B shares have the following rights, preferences and restrictions: B shares have full voting rights.

17 | Other reserves

| Interest free loan reserve |  | Compound instrument reserve |  | Total
| £ |  | £ |  | £
At 30 September 2023 | 142,468 |  | - |  | 142,468
Capital contribution | (57,039) |  | - |  | (57,039)
At 30 September 2024 | 85,429 |  | - |  | 85,429
Capital contribution | (28,887) |  | - |  | (28,887)
At 30 September 2025 | 56,542 |  | - |  | 56,542

Interest free loan reserve

The reserve is not distributable.

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

18 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 24,000 | 21,833
Later than one year and not later than five years | 30,000 | 54,000
| 54,000 | 75,833

The amount of non-cancellable operating lease payments recognised as an expense during the year was £21,833 (2024 - £22,788).

19 | Related party transactions

Loans to related parties

2025 | Key management £ | Total £
Advanced | 135 | 135
Repaid | (135) | (135)
At end of period | - | -

2024 | Key management £ | Total £
Advanced | 4,466 | 4,466
Repaid | (4,466) | (4,466)
At end of period | - | -

Terms of loans to related parties

Loans are interest free and repayable on demand.

Featherstone Partners Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

20 | Parent and ultimate parent undertaking

The company's immediate parent is Forman Hardy Holdings Limited, incorporated in UK.
The ultimate parent is Nottingham Industrial Group Limited, incorporated in UK.
The most senior parent entity producing publicly available financial statements is Nottingham Industrial Group Limited. These financial statements are available upon request from 1st Floor, Toll Bar House, Landmere Lane, Edwalton, Nottingham NG12 4DG.
The ultimate controlling party is N J Forman Hardy.