UCI_FP_Limited - Accounts

UCI FP Limited

Directors' report for the year ended 31 December 2025

The directors present their report and the audited financial statements of the company for the year ended 31 December 2025.

Basis of preparation

The financial statements of UCI FP Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, “The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland'' (‘‘FRS 102'') and the Companies Act 2006.

Principal activities and Business review

The principal activity of the company is that of founding partner. The company was dormant during the year.

Incorporation

The company was incorporated on 20 June 2018.

Funding

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the annual report and financial statements. Accordingly they continue to adopt the going concern basis in preparing the annual report and financial statements. The directors are satisfied that sufficient funding is in place to ensure that the company remains a going concern for 12 mon ths from the date of signing this report.

Results and dividends

The company was dormant during the year. The directors do not recommend the payment of a dividend (2024: £Nil).

Directors

The directors who held office during the year are listed on page 2.

Donations

The company made no charitable donations during the year (2024: £Nil). No donations for political purposes were made during the year (2024: £Nil).

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law).

Under company law, directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financ ial statements, the directors are required to:

select suitable accounting policies and then apply them consistently;

state whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;

make judgements and accounting estimates that are reasonable and prudent; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

UCI FP Limited

Directors' report for the year ended 31 December 2025 (continued)

Statement of directors' responsibilities (continued)

The directors are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

Statement of disclosure of information to auditors

In so far as each of the directors in office at the date of approval of these financial statements is aware:

there is no relevant audit information of which the company's auditors are unaware; and

they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Small companies' exemption

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Independent auditors

The auditors, Grant Thornton (NI) LLP, have indicated their willingness to continue in office, and a resolution concerning their reappointment will be proposed at the Annual General Meeting.

On behalf of the Board

Mr S O'Prey

Director

18th June 2026

UCI FP Limited

Independent auditors' report to the members of UCI FP Limited

Opinion

We have audited the financial statements of UCI FP Limited (“the company”), which comprise the Balance sheet, Statement of profit and Loss and the Statement of changes in equity for the year ended 31 December 2025, and the related notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in the preparation of the financial statements is applicable law FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, UCI Limited's financial statements:

give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the financial position of the company as at 31 December 2025 and of its financial performance for the year then ended; and

have been properly prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (‘ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the ‘Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances for the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

Other information comprises information included in the annual report, other than the financial statements and our auditor's report thereon, including the Directors' Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

UCI FP Limited

Independent auditors' report to the members of UCI FP Limited (continued)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements and the part of the Directors' remuneration report to be audited are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a Strategic Report or in preparing the Directors' Report.

Responsibilities of management and those charged with governance for the financial statements

As explained more fully in the Directors' responsibilities statement, management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, FRS 102, and for such internal control as directors determine necessary to enable the preparation of financial statements are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

UCI FP Limited

Independent auditors' report to the members of UCI FP Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Financial Conduct Authority, Employment Law, Environmental Regulations and Health and Safety laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and UK tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statement.

In response to these principal risks, our audit procedures included but were not limited to:

enquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;

inspection of the company's regulatory and legal correspondence and review of minutes of director's meetings during the year to corroborate inquiries made;

gaining an understanding of the internal controls established to mitigate risk related to fraud;

discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;

identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;

designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;

challenging assumptions and judgements made by management in their assessment of significant accounting estimates; and

review of the financial statement disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the company's members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Nikita Lynn (Senior Statutory Auditor) For and on behalf of

Grant Thornton/Grant Thornton (NI) LLP
Chartered Accountants & Statutory Auditors
Belfast

23 June 2026

UCI FP Limited

Balance sheet as at 31 December 2025

2025

2024

Note

Fixed assets

Investments

Current assets

100

Debtors: amounts falling due within one year

(29)

Creditors: amounts falling due within one year

(14)

Net current assets

100

Net assets

Capital and reserves

100

Called up share capital

Profit and loss account

100

Total shareholders' funds

The company did not trade during the year therefore a Profit and loss account is not presented. There was no other comprehensive income in the year (2024 - £NIL).

The notes on pages 9 to 11 form part of these financial statements.

The financial statements on pages 7 to 11 were approved by the board on

18th June 2026

and were signed on its behalf by:

Mr S O'Prey

Director

UCI FP Limited

Ulster Community Investment FP Limited

Registered number: NI 653879

Statement of changes in equity for the year ended 31 December 2025

Called up share

Profit and loss

Total

capital

account

shareholders'

funds

100

Balance at 1 January 2025

Result for the financial year

Total comprehensive income for the year

100

Balance at 31 December 2025

Statement of changes in equity for the year ended 31 December 2024

Called up share

Profit and loss

Total

capital

account

shareholders'

funds

100

Balance at 1 January 2024

Result for the financial year

Total comprehensive income for the year

100

Balance at 31 December 2024

The notes on pages 9 to 11 form part of these financial statements.

UCI FP Limited

Notes to the financial statements for the year ended 31 December 2025

General information

The principal activity of the company is that of founding partner.

The company is a private company limited by shares and incorporated in the United Kingdom. The address of the registered office is 6th Floor Glengall Exchange, 3 Glengall Street, Belfast, BT12 5AB.

Statement of compliance

The financial statements of UCI FP Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland'' (‘‘FRS 102'') and the Companies Act 2006.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied, unless otherwise stated. The company has adopted FRS 102.

(a)

Going concern

These financial statements have been prepared on a going concern basis as the company's ultimate parent has stated their willingness to continue to support the subsidiary.

(b)

Disclosure exemptions

The company has made use of exemptions available under FRS 102 in relation to disclosure of cash flow statements, payments to key management personnel, related party transactions with and between wholly-owned subsidiaries, and financial instruments.

(c)

Cash flow statement

The company is exempt from the requirement to publish a cash flow statement under FRS 102.

(d)

Investments

Fixed asset investments are stated at their purchase cost less any provision for impairment. Impairment reviews are performed when there has been an indication of potential impairment.

(e)

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held on call with banks.

(f)

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

(g)

Distributions to equity holders

Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the year in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the Statement of changes in equity.

Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a)

Critical judgements in applying the entity's accounting policies

There are no critical judgements in applying the entity's accounting policies.

(b)

Critical accounting estimates and assumptions

There are no critical accounting estimates and assumptions.

UCI FP Limited

Notes to the financial statements for the year ended 31 December 2025 (continued)

Investments

Total

Cost

At 1 January 2025

Additions

At 31 December 2025

Amounts written off

At 1 January 2025 and 31 December 2025

Net book amount

At 31 December 2025

At 31 December 2024

At 31 December 2025 the company has investments as detailed below.

20% holding

Activity

Registered office

6th Floor, Glengall Exchange, 3 Glengall Street, Belfast,

NISBLF II LP

Lending to small businesses

BT12 5AB

6th Floor, Glengall Exchange, 3 Glengall Street, Belfast, BT12 5AB

NISBLF III LP

Lending to small businesses

Debtors: amounts falling due within one year

2025

2024

Amounts owed by group undertakings

100

Creditors: amounts falling due within one year

2025

2024

Amounts owed to group undertakings

Amounts owed to group undertakings are unsecured, interest-free and are repayable on demand.

Called up share capital

2025

2024

Allotted, called up and fully paid

100

100 ordinary shares of £1 each

100

Total share capital