Company Registration No. 07591421 (England and Wales)
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
5
6,482,707
5,897,181
Tangible assets
4
39,162
59,089
6,521,869
5,956,270
Current assets
Stocks
15,250
-
Debtors
6
187,922
158,849
Cash at bank and in hand
145,455
289,700
348,627
448,549
Creditors: amounts falling due within one year
7
(1,906,028)
(857,492)
Net current liabilities
(1,557,401)
(408,943)
Total assets less current liabilities
4,964,468
5,547,327
Creditors: amounts falling due after more than one year
8
(1,300,977)
(1,165,060)
Net assets
3,663,491
4,382,267
Capital and reserves
Called up share capital
400
390
Share premium account
8,299,980
7,799,958
Profit and loss reserves
(4,636,889)
(3,418,081)
Total equity
3,663,491
4,382,267
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 February 2026 and are signed on its behalf by:
S L Cloran
A G Newman
Director
Director
Company registration number 07591421 (England and Wales)
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2023
368
6,799,913
(2,881,474)
3,918,807
Year ended 30 June 2024:
Loss and total comprehensive income
-
-
(536,607)
(536,607)
Issue of share capital
22
-
0
-
22
Other movements
-
1,000,045
-
1,000,045
Balance at 30 June 2024
390
7,799,958
(3,418,081)
4,382,267
Year ended 30 June 2025:
Loss and total comprehensive income
-
-
(1,218,808)
(1,218,808)
Issue of share capital
11
-
0
-
11
Other movements
-
500,022
-
500,022
Balance at 30 June 2025
400
8,299,980
(4,636,889)
3,663,491
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
1
Accounting policies
Company information

Fergusson's Advanced Composite Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2
Going concern

The company is dependent upon financial support from true related parties who ha ve confirmed that support will continue in the foreseeable future and that the loan s will not be repaid until such time as the company has sufficient funds.

On that basis the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of discounts and VAT. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets other than goodwill

Intangible assets comprise capitalised development expenditure and are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Development expenditure are costs incurred in the application of research findings or other knowledge to a plan or design for the production of substantially improved materials and processes prior to commercial production or use. Having met all the criteria under FRS102, the directors have opted to defer the development expenditure and carry it forward as an intangible asset.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
over 20 years
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
over 5 years
Fixtures, fittings & equipment
over 3-4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts.

FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -
1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any 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 derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

Basic financial Liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Employee benefits

Short-term employee benefits and contributions to employees' personal pensions are recognised as an expense in the period in which they are incurred.

1.13
Retirement benefits

The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 7 -
1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
16
11
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2024
29,981
874,124
904,105
Additions
-
0
13,516
13,516
At 30 June 2025
29,981
887,640
917,621
Depreciation and impairment
At 1 July 2024
22,872
822,144
845,016
Depreciation charged in the year
2,132
31,311
33,443
At 30 June 2025
25,004
853,455
878,459
Carrying amount
At 30 June 2025
4,977
34,185
39,162
At 30 June 2024
7,109
51,980
59,089
FERGUSSON'S ADVANCED COMPOSITE TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
5
Intangible fixed assets
Development costs
£
Cost
At 1 July 2024
7,405,979
Additions
978,657
At 30 June 2025
8,384,636
Amortisation and impairment
At 1 July 2024
1,508,798
Amortisation charged for the year
393,131
At 30 June 2025
1,901,929
Carrying amount
At 30 June 2025
6,482,707
At 30 June 2024
5,897,181
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
33,149
17,402
Prepayments and accrued income
154,773
141,447
187,922
158,849
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
30,571
30,433
Taxation and social security
36,584
87,895
Other creditors
1,838,873
739,164
1,906,028
857,492

Other creditors includes £1,810,019 (202 4: 397,052 ) loans owing to a related party. This is interest free loan and payable on demand.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
1,300,977
1,165,060
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