Company No: 00427249 (England and Wales)

Contents

• Company Information
• Directors' Report
• Profit and Loss Account
• Statement of Comprehensive Income
• Balance Sheet
• Notes to the Abridged Financial Statements

DIRECTORS	N J S Laundy
	J B Secrett
	G Secrett
	C L Secrett

REGISTERED OFFICE	Hurst Farm
	Chapel Lane
	Milford
	Surrey
	GU8 5HU
	United Kingdom

COMPANY NUMBER

00427249 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 31 December 2025.

GOING CONCERN

The directors have prepared the financial statements on the going concern basis. Further details are provided in the notes to the financial statements.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

N J S Laundy
J B Secrett
G Secrett
C L Secrett

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

G Secrett Director

01 September 2026

	Note	31.12.2025		31.12.2024
		£		£
Gross profit		579,756		814,840
Administrative expenses		( 834,849)		( 941,146)
Operating loss		( 255,093)		( 126,306)
Interest receivable and similar income	3	3,587		7,882
Interest payable and similar expenses	3	( 1,064)		249
Loss before taxation		( 252,570)		( 118,175)
Tax on loss		65,221		( 20,480)
Loss for the financial year		( 187,349)		( 138,655)

		31.12.2025		31.12.2024
		£		£
Loss for the financial year		( 187,349)		( 138,655)
Other comprehensive income		0		0
Total comprehensive loss for the financial year		( 187,349)		( 138,655)

	Note	31.12.2025		31.12.2024
		£		£
Fixed assets
Tangible assets	5	388,040		367,985
Investments	6	489,931		459,521
		877,971		827,506
Current assets
Stocks	7	215,402		198,594
Debtors		868,586		801,734
Cash at bank and in hand		592,250		811,379
		1,676,238		1,811,707
Prepayments and accrued income		7,639		0
Creditors: amounts falling due within one year		( 395,272)		( 287,485)
Net current assets		1,288,605		1,524,222
Total assets less current liabilities		2,166,576		2,351,728
Creditors: amounts falling due after more than one year		( 2,197)		0
Net assets		2,164,379		2,351,728
Capital and reserves
Called-up share capital	9	616,615		616,615
Share premium account		99,350		99,350
Profit and loss account		1,448,414		1,635,763
Total shareholder's funds		2,164,379		2,351,728

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 member has 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 in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – small entities,
• The member of F.A. Secrett Limited has consented to the preparation of the abridged financial statements for the financial year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements of F.A. Secrett Limited (registered number: 00427249) were approved and authorised for issue by the Board of Directors on 01 September 2026. They were signed on its behalf by:

G Secrett 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

F.A. Secrett 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 Hurst Farm, Chapel Lane, Milford, Surrey, GU8 5HU, United Kingdom.

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

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	20 years straight line
Plant and machinery	8 years straight line
Vehicles	4 years straight line
Computer equipment	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Unlisted investments

Investments in the shares of unquoted companies are stated at cost, less a provision for impairment if applicable.

Details of other unlisted investments are given in note 6.

Pension costs and other post-retirement benefits

The company operates a defined contribution benefit scheme for general staff members and a separate executive scheme for the directors. The assets of both schemes are held separately from those of the company, with the assets of the staff scheme being in an independently administered fund. Contributions payable for the year for both schemes are charged in the profit and loss account. During the year the amounts charged to the profit and loss account were £13,307 (2024: £11,141) for the staff scheme and £1,170 (2024: £1,118) for the directors' scheme. At the balance sheet date the amount of unpaid contributions in respect of the financial year was £5,456 (2024: £2,659).

2. Employees

	31.12.2025		31.12.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	55		54

3. Interest receivable and interest payable

	31.12.2025		31.12.2024
	£		£
Interest receivable and similar income	3,587		7,882
Interest payable and similar expenses	( 1,064)		249
	2,523		8,131

4. Tax on loss

	31.12.2025		31.12.2024
	£		£
Current tax on loss
UK corporation tax	0		0
S455 tax	0		4,513
Total current tax	0		4,513
Deferred tax
Origination and reversal of timing differences	( 49,502)		0
Effect of change in tax rates on opening liability	49,502		0
Decrease in estimate of recoverable deferred tax asset	( 65,221)		15,967
Total deferred tax	( 65,221)		15,967
Total tax on loss	( 65,221)		20,480

5. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	2,539,518		1,993,000		300,153		8,142		4,840,813
Additions	6,098		79,287		0		0		85,385
At 31 December 2025	2,545,616		2,072,287		300,153		8,142		4,926,198
Accumulated depreciation
At 01 January 2025	2,388,061		1,795,907		283,735		5,125		4,472,828
Charge for the financial year	10,986		40,633		12,866		845		65,330
At 31 December 2025	2,399,047		1,836,540		296,601		5,970		4,538,158
Net book value
At 31 December 2025	146,569		235,747		3,552		2,172		388,040
At 31 December 2024	151,457		197,093		16,418		3,017		367,985
Leased assets included above:
Net book value
At 31 December 2025	0		20,560		0		0		20,560
At 31 December 2024	0		11,898		0		0		11,898

6. Fixed asset investments

	Loans		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2025	813,830		1,384		815,214
Movement in fair value	41,089		0		41,089
At 31 December 2025	854,919		1,384		856,303
Provisions for impairment
At 01 January 2025	355,693		0		355,693
Change in provision against carrying value of loan	10,679		0		10,679
At 31 December 2025	366,372		0		366,372
Carrying value at 31 December 2025	488,547		1,384		489,931
Carrying value at 31 December 2024	458,137		1,384		459,521

7. Stocks

	31.12.2025		31.12.2024
	£		£
Stocks	215,402		198,594

8. Deferred tax

	31.12.2025		31.12.2024
	£		£
At the beginning of financial year	163,332		179,299
Credited/(charged) to the Profit and Loss Account	65,221		( 15,967)
At the end of financial year	228,553		163,332

9. Called-up share capital

	31.12.2025		31.12.2024
	£		£
Allotted, called-up and fully-paid
616,315 A ordinary shares of £ 1.00 each	616,315		616,315
10,000 B ordinary shares of £ 0.01 each	100		100
10,000 C ordinary shares of £ 0.01 each	100		100
10,000 D ordinary shares of £ 0.01 each	100		100
	616,615		616,615

10. Ultimate controlling party

Parent Company:

FAS Holding Limited. The ultimate controlling party is C L Secrett.

Wey Court West, Union Road, Farnham, Surrey, United Kingdom, GU9 7PT