Company No: 07143653 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,251,041		1,475,975
		1,251,041		1,475,975
Current assets
Stocks		331,496		296,106
Debtors	5	731,961		394,710
Cash at bank and in hand		3,215,268		2,463,935
		4,278,725		3,154,751
Creditors: amounts falling due within one year	6	( 765,568)		( 610,246)
Net current assets		3,513,157		2,544,505
Total assets less current liabilities		4,764,198		4,020,480
Creditors: amounts falling due after more than one year	7	( 949,166)		( 898,698)
Provision for liabilities	8	( 281,650)		( 358,608)
Net assets		3,533,382		2,763,174
Capital and reserves
Called-up share capital		1,000		1,000
Profit and loss account		3,532,382		2,762,174
Total shareholders' funds		3,533,382		2,763,174

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

Directors' responsibilities:

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

The financial statements of Apsley Precision Engineering Limited (registered number: 07143653) were approved and authorised for issue by the Board of Directors on 08 September 2025. They were signed on its behalf by:

Mr P Aymes 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

Apsley Precision Engineering 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 C/O Apsley Precision Engineering Ltd, High Post, Salisbury, SP4 6AT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 and 10 years.

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:

Leasehold improvements	10 % reducing balance
Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance
Office equipment	20 % reducing balance
Computer equipment	33.33 % reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	25		24

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	505,381		505,381
At 31 March 2025	505,381		505,381
Accumulated amortisation
At 01 April 2024	505,381		505,381
At 31 March 2025	505,381		505,381
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	48,835		2,604,137		57,932		12,288		47,403		2,770,595
Additions	0		76,192		1,990		0		18,071		96,253
Disposals	0		( 148,410)		0		0		0		( 148,410)
At 31 March 2025	48,835		2,531,919		59,922		12,288		65,474		2,718,438
Accumulated depreciation
At 01 April 2024	18,130		1,195,571		35,284		7,586		38,049		1,294,620
Charge for the financial year	3,070		283,621		5,911		942		4,687		298,231
Disposals	0		( 125,454)		0		0		0		( 125,454)
At 31 March 2025	21,200		1,353,738		41,195		8,528		42,736		1,467,397
Net book value
At 31 March 2025	27,635		1,178,181		18,727		3,760		22,738		1,251,041
At 31 March 2024	30,705		1,408,566		22,648		4,702		9,354		1,475,975

5. Debtors

	2025		2024
	£		£
Trade debtors	708,873		374,359
Other debtors	23,088		20,351
	731,961		394,710

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	192,262		495,394
Taxation and social security	477,503		28,494
Other creditors	95,803		86,358
	765,568		610,246

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	949,166		898,698

The long-term loans are secured by fixed and floating charges over the assets of the company.

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	281,650		358,608

9. Related party transactions

Other related party transactions

During the period Apsley Property Services, a business in which Mr P Aymes and Mr R Aymes are partners, charged rent to the company of £55,000 (2024: £55,156) on a normal commercial basis.

At the year end, the company owed £474,583 (2024: £449,349) to Mr P Aymes, a company director and shareholder. Interest is payable monthly at Bank of England base rate plus 1%, and during the year £25,234 (2024: £24,349) was charged. The loan is due to be repaid by 30 April 2047.

At the year end, the company owed £474,583 (2024: £449,349) to Mr R Aymes, a partner of Apsley Property Services. Interest is payable monthly at Bank of England base rate plus 1%, and during the year £25,234 (2024: £24,349) was charged. The loan is due to be repaid by 30 April 2047.