REGISTERED NUMBER: 13951545 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

FTS RECOVERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A B Coleman

M Piacquadio

REGISTERED OFFICE:

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

REGISTERED NUMBER:

13951545 (England and Wales)

ACCOUNTANTS:

BAND Advisory Group Limited

111 Charterhouse Street

Farringdon

London

EC1M 6AW

FIXED ASSETS

Intangible assets

4

209,974

-

Property, plant and equipment

5

13,393

5,958

223,367

5,958

CURRENT ASSETS

Debtors

6

3,453,464

1,437,055

Cash at bank and in hand

3,436

409,648

3,456,900

1,846,703

CREDITORS

Amounts falling due within one year

7

1,554,066

1,062,198

NET CURRENT ASSETS

1,902,834

784,505

TOTAL ASSETS LESS CURRENT LIABILITIES

2,126,201

790,463

PROVISIONS FOR LIABILITIES

6,558

-

NET ASSETS

2,119,643

790,463

CAPITAL AND RESERVES

Called up share capital

9

110

290

Retained earnings

2,119,533

790,173

SHAREHOLDERS' FUNDS

2,119,643

790,463

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 27 April 2026 and were signed on its behalf by:

M Piacquadio - Director

1.	STATUTORY INFORMATION

FTS Recovery 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

straight line over 3 years

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 38 (2024 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

257,111

At 31 July 2025

257,111

AMORTISATION

Charge for year

47,137

At 31 July 2025

47,137

NET BOOK VALUE

At 31 July 2025

209,974

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 August 2024

10,067

Additions

1,705

Disposals

(19,182

)

Transfer to ownership

60,736

At 31 July 2025

53,326

DEPRECIATION

At 1 August 2024

4,109

Charge for year

8,749

Transfer to ownership

27,075

At 31 July 2025

39,933

NET BOOK VALUE

At 31 July 2025

13,393

At 31 July 2024

5,958

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

75,751

112,743

Amounts owed by group undertakings

566,739

-

Amounts recoverable on contract

2,724,709

1,272,435

Prepayments and accrued income

86,265

51,877

3,453,464

1,437,055

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

258,321

-

Trade creditors

155,508

193,220

Amounts owed to group undertakings

-

298,988

Tax

756,623

454,513

Social security and other taxes

57,345

45,180

VAT

270,334

46,964

Accrued expenses

55,935

23,333

1,554,066

1,062,198

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

258,321

-

The bank borrowing are secured by a fixed and floating charge over the company's goodwill and assets. Security is also provided by the company's parent undertaking FTS Capital Limited.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

90

A Ordinary

£1

90

90

20

B Ordinary

£1

20

200

110

290

10.	RELATED PARTY DISCLOSURES

During the year the company was charged a management charge of £73,150 (2024: £23,333) by other group companies.

On 29 August 2024 the company was involved in a reorganisation of the group to simplify it's trading operation. As part of this process, the trades of Beacon LIP Limited and FA Simms & Partners Limited were transferred to FTS Recovery Limited.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is FTS Capital Limited.

The ultimate controlling party is Mr M Piacquadio.