Company No: 10496505 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	F J Bradley
	V M Bradley

REGISTERED OFFICE	Attire House
	Bird Hall Lane
	Stockport
	SK3 0SB
	United Kingdom

COMPANY NUMBER

10496505 (England and Wales)

ACCOUNTANT	S&W Partners (Manchester) Limited
	Pall Mall
	1 Pollen Square
	59 King Street
	Manchester
	M2 4PD

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Investments	5	4,031,398		2,951,107
		4,031,398		2,951,107
Current assets
Debtors	6	1,240,525		1,395,625
Cash at bank and in hand	7	58,274		70,024
		1,298,799		1,465,649
Creditors: amounts falling due within one year	8	( 4,740)		( 158,736)
Net current assets		1,294,059		1,306,913
Total assets less current liabilities		5,325,457		4,258,020
Provision for liabilities	9, 10	( 141,832)		( 57,123)
Net assets		5,183,625		4,200,897
Capital and reserves
Called-up share capital	11	650,203		650,203
Fair value reserve		425,497		171,368
Profit and loss account		4,107,925		3,379,326
Total shareholders' funds		5,183,625		4,200,897

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Filuco Limited (registered number: 10496505) were approved and authorised for issue by the Board of Directors on 22 July 2026. They were signed on its behalf by:

F J Bradley Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Filuco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Attire House, Bird Hall Lane, Stockport, SK3 0SB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Prior year adjustment

There has been a prior year adjustment within the accounts which has required the comparative figures to be amended. Full details of the prior year adjustment are shown in note 2 to the accounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
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 the arrangement constitutes a financing transaction, it is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

The prior year adjustment relates to deferred tax not being provided on investment revaluations in prior years. This was considered as a fundamental error and necessitated the need for the prior year adjustment.

		As previously reported		Adjustment		As restated
Year ended 31 December 2024		£		£		£
Deferred tax profit and loss		0		57,123		57,123
Profit for the financial year		277,763		(57,123)		220,640
Provision for liabilities		0		(57,123)		(57,123)
Fair value reserve		0		(171,368)		(171,368)
Retained earnings		(3,607,817)		228,491		(3,379,326)

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

4. Dividends on equity shares

	2025		2024
	£		£
Amounts recognised as distributions to equity holders in the financial year:
A Ordinary shares of £1 each interim	0		50,000
B Ordinary shares of £1 each Interim	0		50,000
A Redeemable Ordinary shares of £1 Interim	35,000		60,000
	35,000		160,000

5. Fixed asset investments

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2025	2,497,957		453,150		2,951,107
Additions	2,067,938		0		2,067,938
Disposals	( 874,236)		( 452,250)		( 1,326,486)
Movement in fair value	338,839		0		338,839
At 31 December 2025	4,030,498		900		4,031,398
Carrying value at 31 December 2025	4,030,498		900		4,031,398
Carrying value at 31 December 2024	2,497,957		453,150		2,951,107

If fixed asset investments had not been revalued, they would have been included at the following historical cost: £3,487,523

6. Debtors

	2025		2024
	£		£
Other debtors	1,240,525		1,395,625

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	58,274		70,024

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	4,740		158,736

9. Provision for liabilities

	2025		2024
	£		£
Deferred tax	141,832		57,123

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 57,123)		0
Charged to the Profit and Loss Account	( 84,709)		( 57,123)
At the end of financial year	( 141,832)		( 57,123)

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
10 A Ordinary shares of £ 1.00 each	10		10
10 B Ordinary shares of £ 1.00 each	10		10
180 C Ordinary shares of £ 1.00 each	180		180
650,000 D Ordinary shares of £ 1.00 each	650,000		650,000
1 A Redeemable ordinary share of £ 1.00	1		1
1 B Redeemable ordinary share of £ 1.00	1		1
1 C Redeemable ordinary share of £ 1.00	1		1
	650,203		650,203