Saturn FE Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Saturn FE Limited is a private company, limited by shares, incorporated in Scotland, registered number SC611526 . The registered office is 2 Water's Edge, Camperdown Street, Dundee, DD1 3HY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company is the parent undertaking of a group. However, it has not prepared consolidated financial statements for the year ended 31 December 2025, as it qualifies for exemption under sections 399 and 400 of the Companies Act 2006, being a small group. Accordingly, these financial statements present information about the company as an individual entity and not about its group.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets consist of a bespoke customer database and a vehicle licence plate. They are amortised to the profit and loss account over their estimated economic lives of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance and 10 years straight line
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Saturn FE Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Investment in Subsidiary

Investments in subsidiary undertakings are stated at cost less any provision for impairment. The company assesses at each reporting date whether there is objective evidence that any investment is impaired. If such evidence exists, the carrying amount is reduced to its recoverable amount and the impairment loss is recognised in profit or loss.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 32 (2024: 23)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	110,856
Additions	1,046

As at 31 December 2025	111,902

Amortisation
As at 1 January 2025	924
Provided during the period	11,098

As at 31 December 2025	12,022

...CONTINUED

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Saturn FE Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	99,880

As at 1 January 2025	109,932

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	1,347,983	12,676	72,492	1,433,151
Additions	105,505	-	781	106,286

As at 31 December 2025	1,453,488	12,676	73,273	1,539,437

Depreciation
As at 1 January 2025	490,370	7,535	34,590	532,495
Provided during the period	180,282	1,286	9,617	191,185

As at 31 December 2025	670,652	8,821	44,207	723,680

Net Book Value
As at 31 December 2025	782,836	3,855	29,066	815,757

As at 1 January 2025	857,613	5,141	37,902	900,656

6. Investments

	Subsidiaries
	£
Cost
As at 1 January 2025	1

As at 31 December 2025	1

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	1

As at 1 January 2025	1

Investments in Subsidiary Undertakings

The company holds 100% of the issued share capital and 100% of the voting rights of the following company:

Subsidiary Country of Incorporation Principal activity

Saturn FE PTE Limited Singapore Engineering services

Registered Office: 1 Gateway Drive, 07-01 Westgate Tower, Singapore 608531

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Saturn FE Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Stocks

	2025	2024
	£	£
Stock	436,609	502,374
Work in progress	34,833	26,070

	471,442	528,444

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	578,806	1,283,972
Prepayments and accrued income	233,350	75,171
Other debtors	442,871	22,725
Corporation tax recoverable assets	165,212	159,388
Amounts owed by group undertakings	1,204,632	-
Amounts owed by subsidiaries	-	1,490,412
Amounts owed by associates	279,122	309,926

	2,903,993	3,341,594

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	41,078
Trade creditors	788,852	1,873,282
Bank loans and overdrafts	174,544	57,147
Other loans	479,367	257,879
Corporation tax	-	831
Other taxes and social security	71,808	35,960
VAT	312,341	196,264
Other creditors	30,573	32,611
Accruals and deferred income	33,213	112,421
Directors' loan accounts	56	16,323
Amounts owed to group undertakings	62,066	-
Amounts owed to associates	59,718	59,718

	2,012,538	2,683,514

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	134,813
Other loans	160,782	35,664

	160,782	170,477

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Saturn FE Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Secured Creditors

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	173,818	175,891
Bank loans and overdrafts	466,331	250,000

12. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	41,078
Later than one year and not later than five years	-	134,813

	-	175,891

	-	175,891

13. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

14. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 January 2025	455,286	1,571,382
Profit for the year and total comprehensive income	-	408,208

Transfer from revaluation reserve	-	37,940
Transfer to/from Profit & Loss Account	(37,940 )	-

As at 31 December 2025	417,346	2,017,530

15. Related Party Transactions

The company is a subsidiary of Saturn Fluid Engineering Group Limited, a company incorporated in Scotland, which is the ultimate parent undertaking and controlling party.

During the year, the company entered into transactions with related parties within the group. These transactions were made on an arm's length basis and in the normal course of business.

During the year, the company entered into transactions with companies under common control. These transactions were made on an arm's length basis and in the normal course of business.

Saturn FE PTY Limited

Fellow group company

During the year, intercompany loans were provided and overheads and staff costs of £340,745 (2024: £115,691) were recharged. At the year end £363,089 (2024: £221,554) was receivable in respect of these transactions.

Saturn FE FZCO

Fellow group company

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Saturn FE Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

During the year, intercompany loans were provided and overheads and staff costs of £831,052 (2024: £144,288) were recharged. At the year end, £431,016 (2024: £253,178) was receivable in respect of these transactions.

Saturn Fluid Services Inc.

Fellow group company

During the year, intercompany loans were provided of £62,066 (2024: £1,494) were recharged. At the year end, £62,066 (2024: £9,476 receivable) was payable in respect of these transactions.

Tarvos Energy Limited

Company under common control

During the year, management charges of £497,613 (2024: £267,141) were recharged from Tarvos Energy to the company. Also, during the year, the company provided intercompany loans to Tarvos Energy Limited of £21,058, (2024; £26,075). At the year end, £38,272 (2024: £236,449 payable) was repayable in respect of these transactions.

Saturn Integrity Management Limited

Fellow group company

During the year, intercompany loans were provided and overheads and staff costs of £142,349 (2024: £52,050) were recharged. At the year end £170,819 (2024: £136,148) was receivable in respect of these transactions.

Saturn FE PTE Limited

Subsidiary company

During the year, overheads and staff costs were received of £831,052 (2024: £78,355). At the year end £193,733 (2024: £168,391) was receivable in respect of these transactions.

16. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Saturn Fluid Engineering Group Limited . Saturn Fluid Engineering Group Limited was incorporated in Scotland. Copies of the group accounts may be obtained from the secretary, 2 Waters Edge, Camperdown Street, Dundee DD1 3HY . The ultimate controlling party is Saturn Fluid Engineering Group Limited who controls 100% of the shares of Saturn FE Limited .

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		99,880		109,932
Tangible Assets	5		815,757		900,656
Investments	6		1		1

			915,638		1,010,589
CURRENT ASSETS
Stocks	7	471,442		528,444
Debtors	8	2,903,993		3,341,594
Cash at bank and in hand		317,125		34

		3,692,560		3,870,072
Creditors: Amounts Falling Due Within One Year	9	(2,012,538 )		(2,683,514 )

NET CURRENT ASSETS (LIABILITIES)			1,680,022		1,186,558

TOTAL ASSETS LESS CURRENT LIABILITIES			2,595,660		2,197,147

Creditors: Amounts Falling Due After More Than One Year	10		(160,782 )		(170,477 )

NET ASSETS			2,434,878		2,026,670

CAPITAL AND RESERVES
Called up share capital	13		2		2
Revaluation reserve	14		417,346		455,286
Profit and Loss Account			2,017,530		1,571,382

SHAREHOLDERS' FUNDS			2,434,878		2,026,670

Mr E J Clunie Director	Mrs S E Clunie Director
18/09/2026