REGISTERED NUMBER: 06382780 (England and Wales)

Unaudited Financial Statements

for the Year Ended

30 September 2025

for

FCE (WALES) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

S L Davies

Mrs S L Davies

SECRETARY:

REGISTERED OFFICE:

Wern Farm Tredunnock

Usk

Newport

Monmouthshire

NP15 1PE

REGISTERED NUMBER:

06382780 (England and Wales)

ACCOUNTANTS:

James de Frias

Chartered Accountants

7 Centre Court

Main Avenue

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Tangible assets

4

108,688

79,042

Investment property

5

1,550,000

1,610,000

1,658,688

1,689,042

CURRENT ASSETS

Stocks

250,000

-

Debtors

6

714,201

1,112,544

Cash at bank

65

42

964,266

1,112,586

CREDITORS

Amounts falling due within one year

7

674,136

609,641

NET CURRENT ASSETS

290,130

502,945

TOTAL ASSETS LESS CURRENT LIABILITIES

1,948,818

2,191,987

CREDITORS

Amounts falling due after more than one year

8

(192,080

)

(396,792

)

PROVISIONS FOR LIABILITIES

(89,489

)

(104,123

)

NET ASSETS

1,667,249

1,691,072

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Revaluation reserve

9

993,679

993,679

Retained earnings

672,370

696,193

SHAREHOLDERS' FUNDS

1,667,249

1,691,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 20 April 2026 and were signed on its behalf by:

S L Davies - Director

Mrs S L Davies - Director

1.	STATUTORY INFORMATION

Fce (Wales) 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.

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

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2024

221,326

33,315

91,460

346,101

Additions

33,365

-

44,995

78,360

Disposals

(27,500

)

-

(17,551

)

(45,051

)

At 30 September 2025

227,191

33,315

118,904

379,410

DEPRECIATION

At 1 October 2024

189,117

32,024

45,918

267,059

Charge for year

25,222

1,291

12,637

39,150

Eliminated on disposal

(25,228

)

-

(10,259

)

(35,487

)

At 30 September 2025

189,111

33,315

48,296

270,722

NET BOOK VALUE

At 30 September 2025

38,080

-

70,608

108,688

At 30 September 2024

32,209

1,291

45,542

79,042

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2024

122,028

91,460

213,488

Additions

33,365

44,995

78,360

Transfer to ownership

(63,078

)

(33,489

)

(96,567

)

At 30 September 2025

92,315

102,966

195,281

DEPRECIATION

At 1 October 2024

101,848

45,918

147,766

Charge for year

12,622

11,667

24,289

Transfer to ownership

(52,723

)

(23,273

)

(75,996

)

At 30 September 2025

61,747

34,312

96,059

NET BOOK VALUE

At 30 September 2025

30,568

68,654

99,222

At 30 September 2024

20,180

45,542

65,722

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2024

1,610,000

Disposals

(60,000

)

At 30 September 2025

1,550,000

NET BOOK VALUE

At 30 September 2025

1,550,000

At 30 September 2024

1,610,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

2,030

62,345

Amounts recoverable on contract

622,901

641,000

Other debtors

89,270

409,199

714,201

1,112,544

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans and overdrafts

163,195

183,429

Hire purchase contracts

22,731

26,716

Trade creditors

91,154

146,690

Taxation and social security

(9,316

)

61,926

Other creditors

406,372

190,880

674,136

609,641

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans

134,007

382,416

Hire purchase contracts

58,073

14,376

192,080

396,792

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

67,044

254,943

9.

RESERVES

Revaluation

reserve

£

At 1 October 2024

and 30 September 2025

993,679

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 were paid to the directors .

Included in Other Debtors is a balance of £12,877 (2024: £Nil) due from Cash Cow Limited being a company under common control.

The following reproduces the text of the report prepared for the directors 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 Directors 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 Fce (Wales) Ltd for the year ended 30 September 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 Board of Directors of Fce (Wales) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fce (Wales) Ltd and state those matters that we have agreed to state to the Board of Directors of Fce (Wales) Ltd, as a body, 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 Fce (Wales) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fce (Wales) 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 Fce (Wales) Ltd. You consider that Fce (Wales) 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 Fce (Wales) 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.

James de Frias

Chartered Accountants

7 Centre Court

Main Avenue

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

20 April 2026