REGISTERED NUMBER: 03640854 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2025

for

Ferco Seating Systems Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mr T R Barr

Ms J Collington

Secretary:

Mr T R Barr

Registered office:

Unit 7 Merlin Park

Halesfield 19

Telford

TF7 4QT

Registered number:

03640854 (England and Wales)

Auditors:

Hughes & Co (Shropshire) Limited

The Stables

Broseley Hall

Church Street

Broseley

Shropshire

TF12 5DG

Fixed assets

Tangible assets

4

21,527

23,682

Current assets

Stocks

5

4,917

3,110

Debtors

6

459,093

794,055

Cash at bank and in hand

579,444

723,566

1,043,454

1,520,731

Creditors

Amounts falling due within one year

7

825,127

1,457,240

Net current assets

218,327

63,491

Total assets less current liabilities

239,854

87,173

Capital and reserves

Called up share capital

196,250

196,250

Retained earnings

43,604

(109,077

)

Shareholders' funds

239,854

87,173

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 19 February 2026 and were signed on its behalf by:

Ms J Collington - Director

1.	STATUTORY INFORMATION

Ferco Seating Systems 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.

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

Turnover

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

Turnover from projects is recognised on the completion date of a project, deemed to be the date in which the final works on a project are completed.

Any revenue invoiced for projects that have not completed at the year end is included within the deferred income and any income not yet invoiced at the year end relating to projects completed in the year is included within the accrued income.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost based on the cost of purchase on a first in, first out basis. Work in progress includes all costs incurred to date on projects not yet completed. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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 8 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 January 2025

91,411

6,962

9,275

107,648

Additions

1,023

-

2,350

3,373

At 31 December 2025

92,434

6,962

11,625

111,021

Depreciation

At 1 January 2025

77,285

6,488

193

83,966

Charge for year

3,241

106

2,181

5,528

At 31 December 2025

80,526

6,594

2,374

89,494

Net book value

At 31 December 2025

11,908

368

9,251

21,527

At 31 December 2024

14,126

474

9,082

23,682

5.

STOCKS

2025

2024

£

£

Stocks

4,917

3,110

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

317,542

243,404

Amounts owed by group undertakings

20,626

6,778

Other debtors

7,136

118,902

Deferred cost of sales

83,568

385,553

Prepayments and accrued income

30,221

39,418

459,093

794,055

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

41

-

Trade creditors

103,868

226,657

Amounts owed to group undertakings

72,872

360,946

Corporation tax

51,513

29,758

Social security and other taxes

15,970

21,891

VAT

47,082

162,259

Other creditors

8,802

5,318

Deferred income

518,164

573,592

Accruals and deferred income

6,815

76,819

825,127

1,457,240

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

17,500

17,500

Between one and five years

35,000

52,500

52,500

70,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Hughes (Senior Statutory Auditor)

for and on behalf of Hughes & Co (Shropshire) Limited

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Ferco Seating Systems (M) Sdn Bhd, a company registered in Malaysia. The registered office is 7 Jalan Sungai Besar 26/7, Section 26, 40400 Shah Alam, Selangor, Malaysia.

Ferco Seating Systems (M) Sdn Bhd is the smallest group in which the results are consolidated.

The ultimate parent company is FF Space Co. Limited, a company registered in Japan.