REGISTERED NUMBER: SC156958 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

FILTEC WATER SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Mills

REGISTERED OFFICE:

5 Portland Road

Irvine Industrial Estate

IRVINE

Ayrshire

KA12 8JE

REGISTERED NUMBER:

SC156958 (Scotland)

ACCOUNTANTS:

Gilmour Hamilton LLP

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

FIXED ASSETS

Intangible assets

4

543

725

Tangible assets

5

1,590,373

1,190,140

Investments

6

100

100

1,591,016

1,190,965

CURRENT ASSETS

Stocks

69,558

45,472

Debtors

7

1,342,219

1,018,800

Cash at bank and in hand

1,164,595

677,446

2,576,372

1,741,718

CREDITORS

Amounts falling due within one year

8

1,981,800

1,040,734

NET CURRENT ASSETS

594,572

700,984

TOTAL ASSETS LESS CURRENT LIABILITIES

2,185,588

1,891,949

CREDITORS

Amounts falling due after more than one year

9

(272,611

)

(193,949

)

PROVISIONS FOR LIABILITIES

(353,112

)

(251,430

)

NET ASSETS

1,559,865

1,446,570

CAPITAL AND RESERVES

Called up share capital

11

10,002

10,002

Retained earnings

1,549,863

1,436,568

SHAREHOLDERS' FUNDS

1,559,865

1,446,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 22 May 2026 and were signed by:

G Mills - Director

1.	STATUTORY INFORMATION

Filtec Water Services Limited is a private company, limited by shares , registered in Scotland. 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 presented in pounds sterling which is the functional currency of the company, rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

Having considered the level of current and expected orders, forecasted profitability and cash flows for twelve months from the date of approval of the accounts, the director is confident that the company can continue in operational existence for the foreseeable future. The accounts have therefore been prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Filtec Water Services 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.

Related party exemption

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.

Turnover

Turnover represents amounts invoiced to customers, excluding value added tax, except in respect of construction contracts where turnover includes the value of work carried out during the year including amounts not invoiced.

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the directors estimate of the value of work completed and materials on site.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

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.

Cherished number plates are being amortised evenly over their useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33.33% on cost, 25% on reducing balance and 20% on reducing balance

Investments in subsidiaries

Investments in subsidiaries are stated at cost, including, where appropriate, the fair (discounted value) of any deferred consideration given and acquisition costs, less accumulated impairments.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Amounts recoverable on contracts and profit recognition

Amounts recoverable on contracts, which represent the excess of the value of work done (including attributable profit or net of applicable losses) over cumulative payments on account received and receivable, are included in debtors. Payments on account in excess of the value of work done are included in creditors. Profit is taken on contracts in progress where the outcome can be assessed with reasonable certainty. Anticipated losses are provided for in full.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

and 31 March 2026

28,797

AMORTISATION

At 1 April 2025

28,072

Charge for year

182

At 31 March 2026

28,254

NET BOOK VALUE

At 31 March 2026

543

At 31 March 2025

725

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

324,721

2,755,722

3,080,443

Additions

-

1,001,964

1,001,964

Disposals

-

(186,518

)

(186,518

)

At 31 March 2026

324,721

3,571,168

3,895,889

DEPRECIATION

At 1 April 2025

140,301

1,750,002

1,890,303

Charge for year

6,494

576,264

582,758

Eliminated on disposal

-

(167,545

)

(167,545

)

At 31 March 2026

146,795

2,158,721

2,305,516

NET BOOK VALUE

At 31 March 2026

177,926

1,412,447

1,590,373

At 31 March 2025

184,420

1,005,720

1,190,140

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

100

NET BOOK VALUE

At 31 March 2026

100

At 31 March 2025

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

856,642

331,481

Amounts owed by group undertakings

-

1,860

Amounts recoverable on contracts

327,559

540,025

Other debtors

158,018

145,434

1,342,219

1,018,800

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

110,227

91,893

Trade creditors

1,309,897

703,487

Taxation and social security

187,866

77,956

Other creditors

373,810

167,398

1,981,800

1,040,734

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

272,611

193,949

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

382,838

285,842

Hire purchase liabilities are secured over the assets funded.

The company has granted security by way of a bond and floating charge to the Bank of Scotland in connection with an overdraft facility (unused at 31 March 2026).

11.	CALLED UP SHARE CAPITAL

Allotted, issue and fully paid:

Number:

Class:

Nominal

2021

2020

Value

£

£

1,000,200

Ordinary

£0.01

10,002

10,002

12.	OTHER FINANCIAL COMMITMENTS

At 31 March 2026, the company had future commitments under non-cancellable operating leases totalling £48,829 (2025 £69,034).

The company has granted a security by way of a bond and floating charge to former shareholders of Filtec Group Limited in connection with sums due to them by the company's ultimate parent company, Filtec Holdings Limited. A ranking agreement is in place regarding that security and the security noted above re the company's overdraft facility.

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

£

G Mills

Balance outstanding at start of year

-

-

Amounts advanced

10,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,000

-

The loan which was unsecured, interest free and repayable on demand was repaid in full on 7 April 2026.

14.	CONTROLLING PARTY

The company's immediate parent company is Filtec Group Limited, incorporated and based in the United Kingdom. Its ultimate parent company is Filtec Holdings Limited, incorporated and based in the United Kingdom.