REGISTERED NUMBER: 10660902 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

FORMULA MERCHANTS LM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Hieatt

REGISTERED OFFICE:

Unit 16 Woking Business Park

Albert Drive

Woking

Surrey

GU21 5JY

REGISTERED NUMBER:

10660902 (England and Wales)

ACCOUNTANTS:

Jamesons Limited

Jamesons House

Compton Way

Witney

OX28 3AB

FIXED ASSETS

Tangible assets

4

101,973

135,963

CURRENT ASSETS

Debtors

5

82,096

80,000

Cash at bank

2,753

9,430

84,849

89,430

CREDITORS

Amounts falling due within one year

6

588,811

587,696

NET CURRENT LIABILITIES

(503,962

)

(498,266

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(401,989

)

(362,303

)

CREDITORS

Amounts falling due after more than one year

7

-

10,746

NET LIABILITIES

(401,989

)

(373,049

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(401,990

)

(373,050

)

SHAREHOLDERS' FUNDS

(401,989

)

(373,049

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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:

A J Hieatt - Director

1.	STATUTORY INFORMATION

Formula Merchants Lm 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 Euro (€).

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 have been prepared on a going concern basis even though the company has net liabilities at 31 December 2025 of €401,989 (2024 : €373,049).

The validity of the going concern principle is dependent upon the continued support of the company's creditors.

If the company was unable to continue trading adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, provide for further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

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.

Plant and machinery etc

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

€

COST

At 1 January 2025

and 31 December 2025

438,350

DEPRECIATION

At 1 January 2025

302,387

Charge for year

33,990

At 31 December 2025

336,377

NET BOOK VALUE

At 31 December 2025

101,973

At 31 December 2024

135,963

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

€

€

Trade debtors

80,000

80,000

Other debtors

2,096

-

82,096

80,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

€

€

Bank loans and overdrafts

4,774

10,000

Trade creditors

91,363

90,637

Taxation and social security

-

738

Other creditors

492,674

486,321

588,811

587,696

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

€

€

Bank loans

-

10,746

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

€

€

1

Ordinary shares

£1

1

1