REGISTERED NUMBER: 06690120 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

SUPERHEAT FGH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D N MacArthur

Mr S Bajaj

SECRETARY:

Mr S Bajaj

REGISTERED OFFICE:

Blackhorse Road

Letchworth Garden City

Hertfordshire

SG6 1HN

REGISTERED NUMBER:

06690120 (England and Wales)

AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

4

1,226,441

1,519,195

Investments

5

224

21,715

1,226,665

1,540,910

CURRENT ASSETS

Debtors

6

2,444,393

777,936

Cash at bank

352,354

550,680

2,796,747

1,328,616

CREDITORS

Amounts falling due within one year

7

169,315

2,405,847

NET CURRENT ASSETS/(LIABILITIES)

2,627,432

(1,077,231

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,854,097

463,679

CREDITORS

Amounts falling due after more than one year

8

(9,153,674

)

(6,037,695

)

PROVISIONS FOR LIABILITIES

(268,341

)

(332,502

)

NET LIABILITIES

(5,567,918

)

(5,906,518

)

CAPITAL AND RESERVES

Called up share capital

10

600

600

Other reserves

83,318

83,318

Retained earnings

(5,651,836

)

(5,990,436

)

SHAREHOLDERS' FUNDS

(5,567,918

)

(5,906,518

)

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 24 April 2026 and were signed on its behalf by:

Mr S Bajaj - Director

1.	STATUTORY INFORMATION

Superheat FGH 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.

Going concern

The company has a deficiency of net assets but is trading profitably.

The long term liability is a loan from the group company and the financial statements have been prepared on the basis that the loan will remain in place. The group has agreed to supply necessary finance to ensure the company is able to meet its liabilities as they fall due. As a result, the financial statements are prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Superheat FGH Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Short leasehold

-

over remaining period of the lease

Plant and machinery

-

Straight line over 5 years

Fixtures and fittings

-

Straight line over 2 to 5 years

Motor vehicles

-

Straight line over 4 or 5 years

All additions and disposals are depreciated on an appropriate proportion of the annual charge for the class of asset.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company has chosen to adopt Section 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets and liabilities, including trade and other debtors, trade and other creditors and loans from fellow group companies are recognised at amortised cost.

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 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.

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 13 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2024

39,467

4,249,490

68,722

48,709

4,406,388

Additions

1,410

124,858

-

-

126,268

Disposals

(7,270

)

(5,000

)

-

-

(12,270

)

At 30 September 2025

33,607

4,369,348

68,722

48,709

4,520,386

DEPRECIATION

At 1 October 2024

17,907

2,780,413

60,500

28,373

2,887,193

Charge for year

5,481

396,681

4,774

4,600

411,536

Eliminated on disposal

(3,637

)

(1,147

)

-

-

(4,784

)

At 30 September 2025

19,751

3,175,947

65,274

32,973

3,293,945

NET BOOK VALUE

At 30 September 2025

13,856

1,193,401

3,448

15,736

1,226,441

At 30 September 2024

21,560

1,469,077

8,222

20,336

1,519,195

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

21,715

Reclassification/transfer

(21,491

)

At 30 September 2025

224

NET BOOK VALUE

At 30 September 2025

224

At 30 September 2024

21,715

The group set up a new entity in the middle east, Superheat Middle East Heat Treatment Onshore and Offshore Oil and Gas Fields and Facilities Services L.L.C, on 5 May 2024.

The company purchased 100% of the shareholding of 100 shares valued, at 1,0 AED per share, for 1,000 AED. In the prior year this had incorrectly been accounted for as 100 shares valued, at 1,000 AED per share, for 100,000 AED. An adjustment has been made in the current year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

271,918

685,805

Amounts owed by group undertakings

2,047,401

-

Other debtors

15,770

-

Tax

333

333

VAT

-

44,533

Prepayments and accrued income

108,971

47,265

2,444,393

777,936

The company has loans repayable from group entities, one for £75,000 and one for $300,000. The loans are new for 2025. The loans are interest free and repayable on demand.

A debenture is in existence over the assets of the company in favour of HSBC Bank Canada which incorporates both a fixed and floating charge over the assets and undertakings of the company.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,611

315,568

Amounts owed to group undertakings

9,259

1,735,920

Taxation and social security

25,821

20,971

VAT

27,065

-

Accruals and deferred income

101,559

333,388

169,315

2,405,847

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

9,153,674

6,037,695

The company has two loans repayable to a group entity for $8,200,000 and $4,200,000 (2024 - $8,200,000).The interest rate charged on the loans is the market rate at inception which is 4.05% and 5.49% respectively. In 2025, there was group interest payable of £326,627 (2024 - £267,454).

9.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

58,933

58,933

Between one and five years

44,200

103,133

103,133

162,066

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

600

Ordinary

£1

600

600

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

The Report of the Auditors was unqualified.

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

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.	ULTIMATE CONTROLLING PARTY

The immediate parent company is FGH Controls Limited incorporated in the UK. The registered office is Blackhorse Road, Letchworth Garden City, Hertfordshire, United Kingdom, SG6 1HN.

The ultimate parent undertaking and controlling party is 1797509 Alberta ULC which draws up consolidated financial statements. The address of the registered office is 1463 ON-21, Kincardine, Highway 21 N2Z 2X3, Canada.