Fuel-Tec Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI604365

Fuel-Tec Limited

Filleted Unaudited Financial Statements

31 August 2025

Fuel-Tec Limited

Statement of Financial Position

31 August 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	62	112
Tangible assets	6	–	131
		----	----
		62	243

Current assets

Stocks		6,235	7,422
Debtors	7	2,857	1,919
Cash at bank and in hand		160	186
		-------	-------
		9,252	9,527

Creditors: amounts falling due within one year	8	3,858		3,774
		-------		-------
Net current assets			5,394	5,753
			-------	-------
Total assets less current liabilities			5,456	5,996
			-------	-------
Net assets			5,456	5,996
			-------	-------

Capital and reserves

Called up share capital	9	180	180
Share premium account	10	84,830	84,830
Profit and loss account	10	( 79,554)	( 79,014)
		--------	--------
Shareholders funds		5,456	5,996
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Fuel-Tec Limited

Statement of Financial Position (continued)

31 August 2025

These financial statements were approved by the board of directors and authorised for issue on 11 May 2026 , and are signed on behalf of the board by:

Mr KA Devlin
Director

Company registration number: NI604365

Fuel-Tec Limited

Notes to the Financial Statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 68 Braniel Road, Lisburn, Co Antrim, BT27 5JJ, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patent & trademark costs	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & machinery	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tax on loss

Reconciliation of tax income

The tax assessed on the loss on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 19 % (2024: 19 %).

	2025	2024
	£	£
Loss on ordinary activities before taxation	( 540)	( 3,932)
	----	-------
Loss on ordinary activities by rate of tax	( 103)	( 747)
Effect of capital allowances and depreciation	25	43
Utilisation of tax losses	78	704
	----	-------
Tax on loss	–	–
	----	-------

5. Intangible assets

	Development costs
	£
Cost
At 1 September 2024 and 31 August 2025	1,320
	-------
Amortisation
At 1 September 2024	1,208
Charge for the year	50
	-------
At 31 August 2025	1,258
	-------
Carrying amount
At 31 August 2025	62
	-------
At 31 August 2024	112
	-------

Patent and Trademark costs are written off to the profit and loss account over 5 years.

6. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 September 2024 and 31 August 2025	23,502	23,502
	--------	--------
Depreciation
At 1 September 2024	23,371	23,371
Charge for the year	131	131
	--------	--------
At 31 August 2025	23,502	23,502
	--------	--------
Carrying amount
At 31 August 2025	–	–
	--------	--------
At 31 August 2024	131	131
	--------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,512	1,408
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,000	–
Other debtors	345	511
	-------	-------
	2,857	1,919
	-------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	327	243
Other creditors	3,531	3,531
	-------	-------
	3,858	3,774
	-------	-------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	10	10	10	10
Ordinary 'B' shares of £ 1 each	170	170	170	170
	----	----	----	----
	180	180	180	180
	----	----	----	----

10. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.

11. Related party transactions

The company was under the control of Mr Karl Devlin throughout the current and previous year. Mr Devlin is a 49% shareholder in the parent company PD Corporation Limited.

12. Controlling party

The company is a wholly owned subsidiary of PD Corporation Limited, a company registered in Northern Ireland.