REGISTERED NUMBER: 08129741 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

FAR-UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L M Sanders

Mr F G F Wright

Mr D N B Wright

REGISTERED OFFICE:

Unit 29 Nottingham South & Wilford

Industrial Estate

Ruddington Lane

Nottingham

Nottinghamshire

NG11 7EP

REGISTERED NUMBER:

08129741 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

FIXED ASSETS

Intangible assets

4

239,729

349,238

Tangible assets

5

15,194

40,469

254,923

389,707

CURRENT ASSETS

Stocks

19,832

20,195

Debtors

6

219,574

537,718

Cash at bank

19,211

22,749

258,617

580,662

CREDITORS

Amounts falling due within one year

7

355,482

764,785

NET CURRENT LIABILITIES

(96,865

)

(184,123

)

TOTAL ASSETS LESS CURRENT LIABILITIES

158,058

205,584

CREDITORS

Amounts falling due after more than one year

8

772,755

573,941

NET LIABILITIES

(614,697

)

(368,357

)

CAPITAL AND RESERVES

Called up share capital

11

19,533

2,052

Share premium

250,314

-

Retained earnings

(884,544

)

(370,409

)

SHAREHOLDERS' FUNDS

(614,697

)

(368,357

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

Mr L M Sanders - Director

1.	STATUTORY INFORMATION

FAR-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.

Revenue

Turnover represents net invoices sale of goods and services, excluding value added tax.

Turnover is in respect of the provision for services including fees, commissions, rechargeable expenses and sales of materials performed subject to specific contract. Where recorded turnover exceeds amounts invoiced to clients, the excess is classified as accrued income.

Project income is recognised in the period in which the project is worked on. For projects which fall over the accounting year end, income is recognised to reflect the partial performance of the contractual obligations.

Other Operating Income - Grant Income

Grant Income of a revenue nature is recognised when the company has done the work necessary, and fulfilled all the conditions for the receipt of such income.

Intangible assets

Intangilbe assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are to be amortised evenly over their estimated useful life to 5 years, from completion of the development stage.

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 cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research is written off in the year in which it is incurred.

Expenditure on development is capitalised were it meets the below conditions. Expenditure that does not meet this criteria is expensed as incurred .

-The technical feasibility of completing the development stage so that it will be available for use or sale.

- Its intention to complete the development stage and use or sell it.

- Its ability to use or sell the intangible asset.

- How the intangible asset will generate probable future economic benefits. Among other things, the company can demonstrate the existence of a market for the output of the intangible asset or the intangible asset itself or, if it is to be used internally, the usefulness of the intangible asset.

- The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset.

- Its ability to measure reliably the expenditure attributable to the intangible asset during its development

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 15 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 October 2024

and 30 September 2025

544,258

AMORTISATION

At 1 October 2024

195,020

Amortisation for year

109,509

At 30 September 2025

304,529

NET BOOK VALUE

At 30 September 2025

239,729

At 30 September 2024

349,238

5.	TANGIBLE FIXED ASSETS

Fixtures

Improvements

Plant and

and

Computer

to property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 October 2024

130,812

547,394

30,935

71,217

780,358

Additions

-

-

141

-

141

At 30 September 2025

130,812

547,394

31,076

71,217

780,499

DEPRECIATION

At 1 October 2024

120,218

521,382

29,514

68,775

739,889

Charge for year

5,775

17,114

1,004

1,523

25,416

At 30 September 2025

125,993

538,496

30,518

70,298

765,305

NET BOOK VALUE

At 30 September 2025

4,819

8,898

558

919

15,194

At 30 September 2024

10,594

26,012

1,421

2,442

40,469

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

144,115

139,381

Amounts owed by group undertakings

-

87,375

Other debtors

16,500

-

VAT

11,130

-

Prepayments

47,829

310,962

219,574

537,718

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

6,962

10,000

Other loans

37,238

-

Hire purchase contracts (see note 9)

-

26,733

Trade creditors

183,038

318,158

Social security and other taxes

113,563

148,146

VAT

-

32,612

Other creditors

2,419

3,755

Directors' current accounts

-

38,927

Accruals and deferred income

-

77,250

Accrued expenses

12,262

109,204

355,482

764,785

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

7,140

10,000

Bank loans - 2-5 years

17,348

13,941

Other loans - 1-2 years

155,780

-

Other loans - 2-5 years

441,767

-

Other loans more 5yrs instal

-

550,000

Other creditors

150,720

-

772,755

573,941

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

-

550,000

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

-

26,733

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

634,785

550,000

Included within creditors falling due after more than one year is a loan from Innovate UK Loans Limited amounting to £634,785 (2024: £550,000).

This loan is secured by a fixed and floating charge over all the property, assets, and undertaking of the company, created on 24 February 2020. The charge includes a negative pledge.

The loan is repayable by instalments over a period of 108 months from the date of the original agreement (13 February 2020).

The total amount repayable includes deferred interest

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

19,533

Ordinary

£1

19,533

2,052

17,481 Ordinary shares of £1 were issued during the year for cash of £ 267,818 .

12.	RELATED PARTY DISCLOSURES

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

13.	POST-YEAR-END EQUITY FUNDING

Following the balance sheet date, the company successfully secured further equity funding and made three subsequent allotments of shares:

On 28 January 2026, an allotment increased the total called-up share capital to £31,251.

On 27 February 2026, an allotment increased the total called-up share capital to £33,592.

On 23 March 2026, an allotment increased the total called-up share capital to £43,592.

In total, these post-year-end transactions increased the company's nominal called-up share capital by £24,059.

As these share issues occurred after 30 September 2025, they are treated as non-adjusting events and the associated share capital and share premium have not been recognised in the financial statements for the year then ended.