REGISTERED NUMBER: 16482711 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2025 to 31 March 2026

for

Feilden + Mawson Group Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

5

1,918,465

Tangible assets

6

467,012

Investments

7

-

2,385,477

Current assets

Debtors

8

910,410

Cash at bank and in hand

181,541

1,091,951

Creditors

Amounts falling due within one year

9

(994,491

)

Net current assets

97,460

Total assets less current liabilities

2,482,937

Creditors

Amounts falling due after more than one year

10

(148,964

)

Net assets

2,333,973

Capital and reserves

Called up share capital

100

Share premium

2,499,900

Retained earnings

(166,027

)

2,333,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2026 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 4 June 2026 and were signed on its behalf by:

Ms E K Davidson - Director

1.	Statutory information

Feilden + Mawson Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

16482711

Registered office:

1 Ferry Road

Norwich

Norfolk

NR1 1SU

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

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2025, is being amortised evenly over its useful life.

Intangible assets

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

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings

-

Land is not depreciated10%, and 20% on cost

Fixtures and fittings; office equipment

-

20% on cost, 33% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the period 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 period 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

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4.	Employees and directors

The average number of employees during the period was 50 .

5.	Intangible fixed assets

Goodwill

£

Cost

Additions

1,918,465

At 31 March 2026

1,918,465

Net book value

At 31 March 2026

1,918,465

6.	Tangible fixed assets

Freehold

Short

Improvements

property

leasehold

to property

£

£

£

Cost

Additions

265,000

11,133

28,860

Disposals

-

-

-

At 31 March 2026

265,000

11,133

28,860

Depreciation

Charge for period

-

557

1,443

At 31 March 2026

-

557

1,443

Net book value

At 31 March 2026

265,000

10,576

27,417

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

Additions

107,512

78,705

491,210

Disposals

(2,228

)

-

(2,228

)

At 31 March 2026

105,284

78,705

488,982

Depreciation

Charge for period

7,449

12,521

21,970

At 31 March 2026

7,449

12,521

21,970

Net book value

At 31 March 2026

97,835

66,184

467,012

Fixed assets, included in the above, which are held under finance leases are as follows:

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

Additions

35,777

504

36,281

Disposals

(2,228

)

-

(2,228

)

At 31 March 2026

33,549

504

34,053

Depreciation

Charge for period

3,293

84

3,377

At 31 March 2026

3,293

84

3,377

Net book value

At 31 March 2026

30,256

420

30,676

7.	Fixed asset investments

Shares in

group

undertakings

£

Cost

Additions

5,397

Disposals

(5,397

)

At 31 March 2026

-

Net book value

At 31 March 2026

-

8.

Debtors

£

Amounts falling due within one year:

Trade debtors

544,430

Other debtors

350,900

895,330

Amounts falling due after more than one year:

Other debtors

15,080

Aggregate amounts

910,410

9.

Creditors: amounts falling due within one year

£

Finance leases (see note 11)

6,390

Trade creditors

175,696

Taxation and social security

219,852

Other creditors

592,553

994,491

10.

Creditors: amounts falling due after more than one year

£

Finance leases (see note 11)

23,964

Other creditors

125,000

148,964

Loan Notes

The company has issued unsecured loan notes to the directors. The loan notes bear interest on a fixed rate at the higher of either; 2.0% above the Bank of England base rate, or 7.5% per annum, payable quarterly.

The loan notes do not have a fixed maturity date and are redeemable at their principal amount together with any accrued but unpaid interest upon the holder ceasing to be a director of the company. The company may also have the right to redeem the loan notes in certain circumstances as set out in the loan note instrument.

At 31 March 2026, loan notes with a carrying value of £125,000 were outstanding. Interest charged to profit and loss during the year amounted to £4,685.

The directors have assessed the classification of the loan notes in accordance with FRS 102. As redemption is contingent upon the cessation of the holder's directorship, the loan notes are presented as non-current liabilities based on the directors' assessment of the expected timing of settlement and the contractual terms of the arrangement.

11.	Leasing agreements

Minimum lease payments under finance leases fall due as follows:

Finance

leases

£

Net obligations repayable:

Within one year

6,390

Between one and five years

23,964

30,354

12.	Secured debts

The following secured debts are included within creditors:

£

Finance leases

30,354

Finance leases are secured on the assets to which they relate.

13.	Other financial commitments

Total financial commitments which are not listed on the balance sheet amount to £410,597

The commitments comprise:

Norwich rent due to May 2027 - £45,560

London rent and service charges due to July 2027 - £244,397

Cambridge rent due to May 2028 - £120,640

14.	Ultimate controlling party

On 3 November 2025, 100% of the issued ordinary share capital of the Company was acquired by the Feilden + Mawson Group Limited Employee Ownership Trust (the "Trust"), the trustee of which is Feilden + Mawson Trustee Limited. The Trust holds the shares on trust for the benefit of all eligible employees of the Company. Following the transaction the Company became controlled by the Trust.

The total consideration for the shares was £2.5m, of which £nil was satisfied in cash on completion and £2.5m is deferred and payable by the Trust to the former shareholders over 9 years, bearing interest at 2.0% above the Bank of England base rate. The deferred consideration is an obligation of the Trust and accordingly is not recognised as a liability of the Company.

In the opinion of the directors, the ultimate controlling party is the Feilden + Mawson Group Limited Employee Ownership Trust. No individual controls the Company. The terms of the trust prevent the former owners and persons connected with them from controlling the Company through the Trust.