REGISTERED NUMBER: 03899366 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

FICEP (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Colombo

P M Pearce

R D Clark

SECRETARY:

P M Pearce

REGISTERED OFFICE:

3 Gilcar Way

Valencia Park,

Wakefield Europort,

Normanton

West Yorkshire

WF10 5QS

REGISTERED NUMBER:

03899366 (England and Wales)

AUDITORS:

Walter Dawson & Son

Chartered Accountants

First Floor Offices, Unit A4

Old Power Way

Lowfields Business Park

Elland

HX5 9DE

FIXED ASSETS

Tangible assets

4

429,889

376,867

CURRENT ASSETS

Stocks

884,122

946,929

Debtors

5

1,678,304

2,756,520

Cash at bank and in hand

2,303,562

1,537,170

4,865,988

5,240,619

CREDITORS

Amounts falling due within one year

6

2,953,412

3,155,778

NET CURRENT ASSETS

1,912,576

2,084,841

TOTAL ASSETS LESS CURRENT LIABILITIES

2,342,465

2,461,708

PROVISIONS FOR LIABILITIES

8

155,085

233,995

NET ASSETS

2,187,380

2,227,713

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Profit and loss account

2,186,380

2,226,713

2,187,380

2,227,713

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2026 and were signed on its behalf by:

P M Pearce - Director

R D Clark - Director

1.	STATUTORY INFORMATION

Ficep (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover and revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, 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.

When the outcome of a transaction involving the rendering of selling services can be reliably estimated, commission revenue from the rendering of services is recognised once the company has fulfilled its obligations, the amount of commission due can be reliably estimated, and it is probable that the economic benefits associated with the transaction will flow to the company.

When the outcome of a transaction involving the rendering of selling services cannot be reliably estimated, commission revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Plant and machinery

-

20% on cost

Fixtures and fittings

-

50% on cost and 10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

This includes anticipated future costs of rectification work for all machines sold with warranty cover. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Staff costs

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Expenditure

Expenditure is recognised as soon as there is a legal or constructive obligation committing the company to that expenditure, it is probable that transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

86,366

13,260

442,590

257,947

800,163

Additions

-

-

149,594

40,029

189,623

Disposals

-

-

(35,827

)

(14,059

)

(49,886

)

At 31 December 2025

86,366

13,260

556,357

283,917

939,900

DEPRECIATION

At 1 January 2025

37,289

13,260

292,897

79,850

423,296

Charge for year

12,269

-

56,693

50,068

119,030

Eliminated on disposal

-

-

(18,256

)

(14,059

)

(32,315

)

At 31 December 2025

49,558

13,260

331,334

115,859

510,011

NET BOOK VALUE

At 31 December 2025

36,808

-

225,023

168,058

429,889

At 31 December 2024

49,077

-

149,693

178,097

376,867

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,455,013

2,358,955

Amounts owed by group undertakings

29,279

108,295

Other debtors

194,012

289,270

1,678,304

2,756,520

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,204,347

1,998,708

Amounts owed to group undertakings

821,534

248,002

Taxation and social security

552,157

502,476

Other creditors

375,374

406,592

2,953,412

3,155,778

7.	OPERATING LEASE COMMITMENTS

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

2025

2024

£

£

Within one year

103,046

156,979

Between one and five years

48,879

222,011

151,925

378,990

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

107,472

93,186

Other provisions

47,613

140,809

155,085

233,995

Deferred

Other

tax

provisions

£

£

Balance at 1 January 2025

93,186

140,809

Provided during year

-

68,630

Charge/(credit) to Profit and Loss Account during year

14,286

(161,826

)

Balance at 31 December 2025

107,472

47,613

Other provisions relate to anticpated future costs under warranties provided on new machine sales.

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

The Auditors' Report was unqualified.

John Richard Hall (Senior Statutory Auditor)

for and on behalf of Walter Dawson & Son

10.	PENSION COMMITMENTS

The amount recognised in profit and loss as an expense in relation to defined contribution plans was £81,440 (2024: £74,238). No contributions were owing as at the end of the accounting period.

11.	CONTROLLING PARTY