BrightAccountsProduction v1.0.0 v1.0.0 2023-09-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company during the year was precision engineering. 12 May 2025 NI012135 2024-08-31 NI012135 2023-08-31 NI012135 2022-08-31 NI012135 2023-09-01 2024-08-31 NI012135 2022-09-01 2023-08-31 NI012135 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI012135 uk-curr:PoundSterling 2023-09-01 2024-08-31 NI012135 uk-bus:FullAccounts 2023-09-01 2024-08-31 NI012135 uk-bus:Director1 2023-09-01 2024-08-31 NI012135 uk-bus:Director2 2023-09-01 2024-08-31 NI012135 uk-bus:CompanySecretary1 2023-09-01 2024-08-31 NI012135 uk-bus:RegisteredOffice 2023-09-01 2024-08-31 NI012135 uk-bus:Agent1 2023-09-01 2024-08-31 NI012135 uk-bus:Audited 2023-09-01 2024-08-31 NI012135 uk-core:ShareCapital 2024-08-31 NI012135 uk-core:ShareCapital 2023-08-31 NI012135 uk-core:OtherReservesSubtotal 2024-08-31 NI012135 uk-core:OtherReservesSubtotal 2023-08-31 NI012135 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI012135 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI012135 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-08-31 NI012135 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI012135 uk-core:CapitalRedemptionReserve 2023-08-31 NI012135 uk-core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 NI012135 uk-core:CapitalRedemptionReserve 2024-08-31 NI012135 uk-bus:FRS102 2023-09-01 2024-08-31 NI012135 uk-core:LandBuildings 2023-09-01 2024-08-31 NI012135 uk-core:PlantMachinery 2023-09-01 2024-08-31 NI012135 uk-core:MotorVehicles 2023-09-01 2024-08-31 NI012135 uk-core:TotalPropertyPlantEquipmentOtherThanExplorationEvaluationAssets 2023-09-01 2024-08-31 NI012135 uk-core:TotalPropertyPlantEquipmentOtherThanExplorationEvaluationAssets 2022-09-01 2023-08-31 NI012135 uk-core:CostValuation 2024-08-31 NI012135 uk-core:CostValuation 2024-08-31 NI012135 uk-core:Subsidiary1 2023-09-01 2024-08-31 NI012135 uk-core:Subsidiary2 2023-09-01 2024-08-31 NI012135 uk-core:CurrentFinancialInstruments 2024-08-31 NI012135 uk-core:CurrentFinancialInstruments 2023-08-31 NI012135 uk-core:WithinOneYear 2024-08-31 NI012135 uk-core:WithinOneYear 2023-08-31 NI012135 uk-core:WithinOneYear 2024-08-31 NI012135 uk-core:WithinOneYear 2023-08-31 NI012135 uk-core:EmployeeBenefits 2023-08-31 NI012135 uk-core:EmployeeBenefits 2023-09-01 2024-08-31 NI012135 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 NI012135 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-08-31 NI012135 uk-core:OtherDeferredTax 2024-08-31 NI012135 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-08-31 NI012135 uk-core:EmployeeBenefits 2024-08-31 NI012135 uk-bus:OrdinaryShareClass1 2023-09-01 2024-08-31 NI012135 uk-bus:OrdinaryShareClass1 2024-08-31 NI012135 uk-core:ParentEntities 2023-09-01 2024-08-31 NI012135 2023-09-01 2024-08-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI012135
 
 
Dontaur Engineering Limited
 
Reports and Financial Statements
 
for the financial year ended 31 August 2024
Dontaur Engineering Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Nigel Hicklin
Brenda Hicklin
 
 
Company Secretary Tracey Hicklin
 
 
Company Registration Number NI012135
 
 
Registered Office and Business Address Unit C1
Wakehurst Industrial Estate
Wakehurst Road
Ballymena
Antrim
BT42 3AZ
Northern Ireland
 
 
Independent Auditors PGR Accountants Limited
Unit 2 Channel Wharf
21 Old Channel Road
Belfast
Co. Antrim
BT3 9DE
Northern Ireland
 
 
Bankers Danske Bank
  Northern Business Centre
  1-2 Broadway
  Ballymena
  Antrim
  BT43 7AA
  Northern Ireland



Dontaur Engineering Limited
STRATEGIC REPORT
for the financial year ended 31 August 2024

 
The directors present their strategic report on the company for the financial year ended 31 August 2024.
 
Business Review
The Principal activity of the company during the year was precision engineering.

The directors consider the outcome for the year and year end financial position to be satisfactory and to have been achieved in a challenging operating environment.

The company continues to invest in research and development.
       
Principal Risks and Uncertainties
The directors consider the principal risk of the business to be foreign exchange as they deal with customers and suppliers in USD. They mitigate this risk by having USD bank accounts, monitoring exchange rate fluctuations and enter into forward exchange contracts as required.

The company operates primarily in the aerospace sector and the rate of orders from airlines continues to build. The directors continue to monitor the position closely.
       
Financial Key Performance Indicators
The directors consider gross profit margin, profit before tax and cash flow as the main measures of financial performance. There has been an increase in turnover in year to £10,319,908 from £7,990,910 in 2023. Gross margin has decreased to 39.3% from 45.4% in 2023. The profit before tax amounted to £1,479,175 (2023: profit of £1,439,088 ). Cash at bank as at 31 August 2024 amounted to £668,075 (2023: £883,719 ).
       
       
On behalf of the board
       
       
___________________________      
Nigel Hicklin      
Director      
       
12 May 2025      



Dontaur Engineering Limited
DIRECTORS' REPORT
for the financial year ended 31 August 2024

 
The directors present their report and the audited financial statements for the financial year ended 31 August 2024.
 
Principal Activity
The principal activity of the company during the year was precision engineering.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £1,516,375 (2023 - £1,419,805).
The directors do not recommend payment of a dividend.
     
Directors
The directors who served during the financial year are as follows:
     
Nigel Hicklin
Brenda Hicklin
   
There were no changes in shareholdings between 31 August 2024 and the date of signing the financial statements.
     
Future Developments
The company plans to continue its present activities and rebuild trading levels as the aerospace sector continues to recover post pandemic.
     
Post-Balance Sheet Events
There have been no significant events affecting the company since the financial year-end.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
             
The directors are responsible for preparing the Strategic Report, Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the 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 these financial statements, the directors are required to:
■select suitable accounting policies and apply them consistently;
■make judgements and accounting estimates that are reasonable and prudent;
■prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
                 
Disclosure of Information to Auditor
Each persons who are directors at the date of approval of this report confirms that:
In so far as the directors are aware:
■there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and
■the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
     
Auditors
The auditors, PGR Accountants Limited have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.
     
Going Concern
The Directors of Dontaur Engineering Limited have reviewed the appropriateness of the going concern assumption and believe that the company has sufficient resources available to enable it to continue to meet its ongoing obligations for at least a period of 12 months from the date of approval of the financial statements. The company‘s financial performance and forecasts to 31 August 2026, after considering plausible downside scenarios, show that the company continues to be cash generative. Accordingly, the Directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.
     
Research and Development
The company is committed to research and development activities in order to secure and enhance its position in the market. As such, the company plans to continue investing in research and development going forward.
     
Engagement with suppliers,customers and others
The company recognises that engagement with key stakeholders, including employees, customers, suppliers, lenders and community is vital to achieving the long-term success of the business. The company engages with all its stakeholders throughout the year across a variety of mediums.
     
Employees
The director seeks to ensure that employees are kept informed as is practical about the company’s progress through regular team meeting and monthly briefings. The company gives full consideration to applications for employment by disabled persons.
     
     
On behalf of the board
     
     
___________________________
Nigel Hicklin
Director
     
12 May 2025



INDEPENDENT AUDITOR'S REPORT
to the Shareholders of Dontaur Engineering Limited

 
Report on the audit of the financial statements
 
Opinion
We have audited the financial statements of Dontaur Engineering Limited ('the company') for the financial year ended 31 August 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
■give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the financial year then ended;
■have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
■have been 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 Auditor's responsibilities 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 UK, including the FRC's Ethical Standard, and 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 the 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
The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. 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.

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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.
 
Opinion 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
 
Matters on which we are required to report by exception
In the light of our 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 Strategic Report and 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
the financial statements 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.
 
Responsibilities of directors for the financial statements
The directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, the directors are 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 the directors either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.
 
Auditor's responsibilities for the audit of the financial statements
Our objectives 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 our 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.
 
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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006) and the relevant direct and indirect tax compliance regulation in the United Kingdom. In addition, the company has to comply with laws and regulations relating to its operations, including health and safety and GDPR.
• We understood how the company is complying with those frameworks by making inquiries of management to understand how the company maintains and communicates its policies and procedures in these areas. We corroborated our inquiries through reading correspondence with relevant authorities.
• We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur by considering the risk of management override and by assuming revenue recognition to be a fraud risk. Our testing of revenue included agreeing specific transactions to supporting invoices, customer orders, and receipt to bank statements. Further we performed journal entry testing with a focus on manual revenue journals.
• Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved testing journals identified by specific risk criteria. We also made inquiries with management of the company regarding compliance with laws and regulations.
 
A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.
 
Use of our report
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.
 
 
 
__________________________________
Jonathan McNeill (Senior Statutory Auditor)
for and on behalf of
PGR ACCOUNTANTS LIMITED
Unit 2 Channel Wharf
21 Old Channel Road
Belfast
Co. Antrim
BT3 9DE
Northern Ireland
 
12 May 2025



Dontaur Engineering Limited
APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor
 
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
 
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
 
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
 
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
 
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.
 
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
 
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.



Dontaur Engineering Limited
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 August 2024
2024 2023
Notes £ £

Turnover 3 10,319,908 7,990,910
 
Cost of sales (6,259,240) (4,360,256)
───────── ─────────
Gross profit 4,060,668 3,630,654
 
Administrative expenses (3,407,292) (2,942,201)
───────── ─────────
Operating profit 4 653,376 688,453
 
Exceptional items 5 65,000 -
───────── ─────────
Profit before interest 718,376 688,453
 
Investment income 6 750,000 750,000
Interest receivable and similar income 7 12,600 5,096
Interest payable and similar expenses 8 (1,801) (4,461)
───────── ─────────
Profit before taxation 1,479,175 1,439,088
 
Tax on profit 10 37,200 (19,283)
───────── ─────────
Profit for the financial year 1,516,375 1,419,805
───────── ─────────
Total comprehensive income 1,516,375 1,419,805
    ═════════   ═════════



Dontaur Engineering Limited
Company Registration Number: NI012135
BALANCE SHEET
as at 31 August 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 12 718,298 708,134
Investments 13 11,417 11,417
───────── ─────────
Fixed Assets 729,715 719,551
───────── ─────────
 
Current Assets
Stocks 14 1,751,193 1,238,958
Debtors 15 4,120,367 2,715,607
Cash and cash equivalents 668,075 883,719
───────── ─────────
6,539,635 4,838,284
───────── ─────────
Creditors: amounts falling due within one year 16 (3,331,692) (3,099,352)
───────── ─────────
Net Current Assets 3,207,943 1,738,932
───────── ─────────
Total Assets less Current Liabilities 3,937,658 2,458,483
 
Provisions for liabilities 18 (37,638) (74,838)
───────── ─────────
Net Assets 3,900,020 2,383,645
═════════ ═════════
 
Capital and Reserves
Called up share capital 19 100,000 100,000
Other reserves including the fair value reserve 7,650 7,650
Retained earnings 3,792,370 2,275,995
───────── ─────────
Equity attributable to owners of the company 3,900,020 2,383,645
═════════ ═════════
 
           
Approved by the Board and authorised for issue on 12 May 2025 and signed on its behalf by
           
           
________________________________          
Nigel Hicklin          
Director          
           



Dontaur Engineering Limited
STATEMENT OF CHANGES IN EQUITY
as at 31 August 2024

Called up Retained Capital Total
share earnings redemption
capital reserve
£ £ £ £
 
At 1 September 2022 100,000 1,606,190 7,650 1,713,840
───────── ───────── ───────── ─────────
Profit for the financial year - 1,419,805 - 1,419,805
───────── ───────── ───────── ─────────
Payment of dividends - (750,000) - (750,000)
  ───────── ───────── ───────── ─────────
At 31 August 2023 100,000 2,275,995 7,650 2,383,645
  ───────── ───────── ───────── ─────────
Profit for the financial year - 1,516,375 - 1,516,375
  ───────── ───────── ───────── ─────────
At 31 August 2024 100,000 3,792,370 7,650 3,900,020
  ═════════ ═════════ ═════════ ═════════



Dontaur Engineering Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 August 2024

   
1. General Information
 
Dontaur Engineering Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI012135. The registered office of the company is Unit C1, Wakehurst Industrial Estate, Wakehurst Road, Ballymena, Antrim, BT42 3AZ, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 August 2024 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Statement of Cash Flows because it is a subsidiary undertaking for which the consolidated financial statements are publicly available.
 
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of precision components
Turnover from the sale of goods is recognised when all of the following criteria are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with                      ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred in respect of the transaction can be measured reliably.
 
Going Concern
The Directors of Dontaur Engineering Limited have reviewed the appropriateness of the going concern assumption and believe that the company has sufficient resources available to enable it to continue to meet its ongoing obligations for at least a period of 12 months from the date of approval of the financial statements. The company‘s financial performance and forecasts to 31 August 2026, after considering plausible downside scenarios, show that the company continues to be cash generative. Accordingly, the Directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.
 
Research and development
Research expenditure is written off to the Statement of comprehensive income in the year in which it is incurred development expenditure is written off in the same way unless the directors are satisfied as to technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
 
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Debtors recoverability
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience, and the aging profile of debtors have been considered. See note 15 for the net carrying amount of debtors.

Stock provision
Stock represents raw materials, work in progress and finished goods and is measured at the lower of cost and net realisable value. Net realisable value is estimated as selling prices in ordinary course of business. less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on current trading experience. See note 14 for the net carrying amount of stock.

Research and Development
Estimates are made in respect of research and development in arriving at the corporation tax liability. In assessing the level of research and development, the directors consider the ongoing R&D projects within the company, the time spent by specific individuals working on those R&D projects, and the attributable salary costs involved.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Leasehold improvements - 15% reducing balance
  Plant and machinery - 20% reducing balance
  Motor vehicles - 25% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
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.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company‘s taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Financial Instruments
 
Basic financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets held as debt instruments are measured at amortised cost. Amortised cost is the amount initially recognised, adjusted for the cumulative amortisation using the effective interest rate method of any difference between the initial amount and that maturity amount, less any reduction for impairment or collectability.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Exceptional item
Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.
       
3. Turnover
 
The turnover for the financial year is analysed as follows:
  2024 2023
  £ £
 
United Kingdom 9,881,744 7,737,137
Europe 62,934 51,987
Rest of the World 375,230 201,786
  ───────── ─────────
  10,319,908 7,990,910
  ═════════ ═════════
 
The whole of the turnover is attributable to the principal activities of the business.
 
Turnover attributable to geographical markets outside the United Kingdom amounted to 4% for the financial year.
       
4. Operating profit 2024 2023
  £ £
Operating profit is stated after charging/(crediting):
Depreciation of tangible assets 174,119 172,412
Loss/(profit) on disposal of tangible assets 33,315 (65,517)
Loss on foreign currencies 31,454 156,750
  ═════════ ═════════
       
5. Exceptional items 2024 2023
  £ £
 
Tax Settlement 65,000 -
  ═════════ ═════════
       
6. Income from investments 2024 2023
  £ £
 
Investment income 750,000 750,000
  ═════════ ═════════
       
7. Interest receivable and similar income 2024 2023
  £ £
 
Bank interest 12,600 5,096
  ═════════ ═════════
       
8. Interest payable and similar expenses 2024 2023
  £ £
 
Other interest payable 39 16
Hire purchase interest 1,762 4,445
  ───────── ─────────
  1,801 4,461
  ═════════ ═════════
       
9. Employees and remuneration
 
Number of employees
The average number of persons employed (including executive directors) during the financial year was as follows:
 
  2024 2023
  Number Number
 
Administrative 7 7
Production 47 38
  ───────── ─────────
  54 45
  ═════════ ═════════
 
The staff costs (inclusive of directors' salaries) comprise: 2024 2023
  £ £
 
Wages and salaries 2,171,475 1,792,229
Social security costs 241,250 201,963
Pension costs 138,329 129,712
  ───────── ─────────
  2,551,054 2,123,904
  ═════════ ═════════
       
10. Tax on profit
  2024 2023
  £ £
(a)     Analysis of charge in the financial year
 
Current tax:
Corporation tax at 25.00% (2023 - 19.00%) (Note 10 (b)) - 496
  ───────── ─────────
 
Deferred tax:
Origination and reversal of timing differences (37,200) 18,787
  ───────── ─────────
Total deferred tax (37,200) 18,787
  ═════════ ═════════
Tax on profit  (Note 10 (b)) (37,200) 19,283
  ═════════ ═════════
 
(b)     Factors affecting tax charge for the financial year
 
The tax assessed for the financial year differs from the standard rate of corporation tax in the United Kingdom 25.00% (2023 - 19.00%). The differences are explained below:
  2024 2023
  £ £
 
Profit taxable at 25.00% 1,479,175 1,439,088
  ═════════ ═════════
Profit before tax
multiplied by the standard rate of corporation tax
in the United Kingdom at 25.00% (2023 - 19.00%) 369,794 273,427
Effects of:
Expenses not deductible for tax purposes (6,899) (8,064)
Depreciation in excess of capital allowances for period 25,523 20,233
Deferred tax (37,200) 18,787
Research and development tax relief (209,608) (196,227)
Franked investment income (187,500) (142,500)
Group relief surrendered 8,690 53,627
  ───────── ─────────
Total tax charge for the financial year (Note 10 (a)) (37,200) 19,283
  ═════════ ═════════
 
       
11. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary - Interim paid - 750,000
  ═════════ ═════════
           
12. Tangible assets
  Leasehold Plant and Motor Total
  improvements machinery vehicles  
         
  £ £ £ £
Cost
At 1 September 2023 234,856 3,505,966 423,670 4,164,492
Additions 3,864 - 326,733 330,597
Disposals - - (245,421) (245,421)
  ───────── ───────── ───────── ─────────
At 31 August 2024 238,720 3,505,966 504,982 4,249,668
  ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2023 192,828 3,165,789 97,741 3,456,358
Charge for the financial year 6,449 68,037 99,633 174,119
On disposals - - (99,107) (99,107)
  ───────── ───────── ───────── ─────────
At 31 August 2024 199,277 3,233,826 98,267 3,531,370
  ───────── ───────── ───────── ─────────
Net book value
At 31 August 2024 39,443 272,140 406,715 718,298
  ═════════ ═════════ ═════════ ═════════
At 31 August 2023 42,028 340,177 325,929 708,134
  ═════════ ═════════ ═════════ ═════════
           
12.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Plant and machinery - - 118,836 29,709
  ═════════ ═════════ ═════════ ═════════
         
13. Investments
  Subsidiary Listed Total
  undertakings investments  
  shares    
       
Investments £ £ £
Cost
 
At 31 August 2024 10,079 1,338 11,417
  ───────── ───────── ─────────
Net book value
At 31 August 2024 10,079 1,338 11,417
  ═════════ ═════════ ═════════
At 31 August 2023 10,079 1,338 11,417
  ═════════ ═════════ ═════════
             
13.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following companies:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Aerospace Metal Finishers Limited Unit 3
11 Paradise Avenue
Ballymena
BT42 3AE
Metal treatment, coating and finishing   Ordinary 100
 
Aerospace Metal Finishers Ireland Limited Unit 3
11 Paradise Avenue
Ballymena
BT42 3AE
Metal treatment, coating and finishing   Ordinary 100
 
 
In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.
       
14. Stocks 2024 2023
  £ £
 
Raw materials 255,635 182,691
Work in progress 400,197 270,594
  ───────── ─────────
  655,832 453,285
Finished goods and goods for resale 1,095,361 785,673
  ───────── ─────────
  1,751,193 1,238,958
  ═════════ ═════════
       
15. Debtors 2024 2023
  £ £
 
Trade debtors 3,810,339 2,419,469
Taxation  (Note 17) 250,403 250,403
Prepayments and accrued income 59,625 45,735
  ───────── ─────────
  4,120,367 2,715,607
  ═════════ ═════════
       
16. Creditors 2024 2023
Amounts falling due within one year £ £
 
Net obligations under finance leases
and hire purchase contracts - 19,650
Trade creditors 1,047,449 499,000
Amounts owed to group undertakings 1,876,393 2,110,568
Taxation  (Note 17) 378,278 378,204
Other creditors 11,839 9,197
Accruals 17,733 82,733
  ───────── ─────────
  3,331,692 3,099,352
  ═════════ ═════════
 
Security on the bank overdraft is provided by way of floating charge over the assets of the company.
       
17. Taxation 2024 2023
  £ £
 
Debtors:
Corporation tax 250,403 250,403
  ═════════ ═════════
Creditors:
VAT 286,024 295,443
PAYE / NI 92,254 82,761
  ───────── ─────────
  378,278 378,204
  ═════════ ═════════
         
18. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Other Total Total
  differences    
       
    2024 2023
  £ £ £
 
At financial year start 74,838 74,838 56,051
Charged to profit and loss (37,200) (37,200) 18,787
  ───────── ───────── ─────────
At financial year end 37,638 37,638 74,838
  ═════════ ═════════ ═════════
           
19. Share capital     2024 2023
      £ £
Description Number of shares Value of units    
 
Allotted, called up and fully paid
Ordinary 100,000 £1.00 each 100,000 100,000
 
      ═════════ ═════════
       
20. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 August 2024.
       
21. Directors' remuneration 2024 2023
  £ £
 
Remuneration 11,916 11,915
  ═════════ ═════════
           
22. Related party transactions
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.
 
The company is a wholly owned subsidiary of NPH Holdings (N.I.) Ltd, a company registered in Northern Ireland. NPH Holdings (N.I.) Ltd is the parent entity of the group of which the company is a member and for which consolidated financial statements are prepared. Copies of the group financial statements can be obtained from Companies House.
   
23. Parent company
 
The company regards NPH Holdings (N.I.) Ltd as its parent company.
 
   
24. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
25. Commitments under operating leases
 
At 31 August 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods
 
  2024 2023
  £ £
 
Land and Buildings 48,000 48,000
  ═════════ ═════════
       
26. Auditor's remuneration 2024 2023
  £ £
 
Fees Payable to the Company Auditor 10,000 10,000
  ═════════ ═════════