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REGISTERED NUMBER: 12665677 (England and Wales)

Unaudited Financial Statements For The Year Ended 25 March 2025

for

The Factory Project Ltd

| The Factory Project Ltd (Registered number: 12665677) |

Contents of the Financial Statements

For The Year Ended 25 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| The Factory Project Ltd |

Company Information

For The Year Ended 25 March 2025

| DIRECTOR: | N J Hartwright

| REGISTERED OFFICE: | 4 Thameside Industrial Estate

| Factory Road

| London

| E16 2HB

| REGISTERED NUMBER: | 12665677 (England and Wales)

| ACCOUNTANTS: | Fuller Spurling

| Mill House

| 58 Guildford Street

| Chertsey

| Surrey

| KT16 9BE

| The Factory Project Ltd (Registered number: 12665677) |

Balance Sheet

25 March 2025

| 25.3.25 | 25.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 543,256 |  | 642,071 |  |

CURRENT ASSETS

Debtors | 5 | 745,528 |  | 749,870 |  |

Cash at bank and in hand | 3,178 |  | 10,808 |  |

748,706 |  | 760,678 |  |

CREDITORS

Amounts falling due within one year | 6 | 1,081,061 |  | 1,080,866 |  |

NET CURRENT LIABILITIES | (332,355 | ) | (320,188 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 210,901 |  | 321,883 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 1,153,845 |  | 1,158,345 |  |

NET LIABILITIES | (942,944 | ) | (836,462 | ) |

RESERVES

Retained earnings | (942,944 | ) | (836,462 | ) |

(942,944 | ) | (836,462 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 July 2026 and were signed by:

N J Hartwright - Director

| The Factory Project Ltd (Registered number: 12665677) |

Notes to the Financial Statements

For The Year Ended 25 March 2025

1. | STATUTORY INFORMATION

| The Factory Project 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 under the going concern basis, relying on the continued support of the company's directors and loan creditors and the future achievement of grant providers objectives.

| 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.

| Improvements to property | - | in accordance with the lease term

| Plant and machinery | - | 25% on cost

| Motor vehicles | - | 25% on cost

| Office furniture | - | 25% on cost

| The depreciation of improvements to property will commence when the improvements have been fully completed.

| 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.

| The Factory Project Ltd (Registered number: 12665677) |

Notes to the Financial Statements - continued

For The Year Ended 25 March 2025

2. | ACCOUNTING POLICIES - continued

| Debtors

| Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

| Cash at bank and in hand

| Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

| Creditors

| Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

| Interest Bearing borrowings

| Loans received are stated at the initial amount received. Interest is accrued up to the end of the accounting period where not yet paid. Costs of raising finance are recognised in profit and loss account in the period in which they are incurred.

| Government grants

| Grants towards capital expenditure are shown as credits, when received, against the relevant fixed asset heading and are thus effectively released to profit and loss account over the life of the relevant fixed assets by reducing the depreciation charge.

| Grants toward revenue expenditure are taken straight to profit and loss account when received and shown as other operating income.

| Where there are conditions attaching to the grants, the directors keep these under review such that should any of the grants become repayable, this is then transferred back to creditors.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |  | Motor |  | Office |

| property |  | machinery |  | vehicles |  | furniture |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 26 March 2024 | 793,371 |  | 22,500 |  | 17,975 |  | 7,969 |  | 841,815 |  |

| Additions | 3,218 |  | - |  | - |  | - |  | 3,218 |  |

| At 25 March 2025 | 796,589 |  | 22,500 |  | 17,975 |  | 7,969 |  | 845,033 |  |

| DEPRECIATION

| At 26 March 2024 | 175,570 |  | 11,569 |  | 9,886 |  | 2,719 |  | 199,744 |  |

| Charge for year | 89,921 |  | 5,625 |  | 4,494 |  | 1,993 |  | 102,033 |  |

| At 25 March 2025 | 265,491 |  | 17,194 |  | 14,380 |  | 4,712 |  | 301,777 |  |

| NET BOOK VALUE

| At 25 March 2025 | 531,098 |  | 5,306 |  | 3,595 |  | 3,257 |  | 543,256 |  |

| At 25 March 2024 | 617,801 |  | 10,931 |  | 8,089 |  | 5,250 |  | 642,071 |  |

| The Factory Project Ltd (Registered number: 12665677) |

Notes to the Financial Statements - continued

For The Year Ended 25 March 2025

5. | DEBTORS

| 25.3.25 |  | 25.3.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 18,149 |  | 12,544 |  |

| Other debtors | 100,062 |  | 100,062 |  |

| VAT | 10,650 |  | 3,525 |  |

| Prepayments | 256,667 |  | 273,739 |  |

385,528 |  | 389,870 |  |

| Amounts falling due after more than one year:

| Rent deposit | 360,000 |  | 360,000 |  |

| Aggregate amounts | 745,528 |  | 749,870 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 25.3.25 |  | 25.3.24

£ | £ |

| Trade creditors | 435,807 |  | 447,530 |  |

| Corporation tax | 200 |  | - |  |

| Other creditors | 631,687 |  | 619,119 |  |

| Directors' current accounts | 7,247 |  | 7,247 |  |

| Accrued expenses | 6,120 |  | 6,970 |  |

1,081,061 |  | 1,080,866 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 25.3.25 |  | 25.3.24

£ | £ |

| Other loans | 830,000 |  | 830,000 |  |

| Other creditors | 323,845 |  | 328,345 |  |

1,153,845 |  | 1,158,345 |  |

8. | OTHER FINANCIAL COMMITMENTS

| At 25th March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £1,100,000.