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REGISTERED NUMBER: 01563804 (England and Wales)

| N.F.F. PRECISION LIMITED |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

| Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |  | to |  | 7

N.F.F. PRECISION LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | A D Deves

| J C Langham

| Mrs D Hadrill

| SECRETARY: | A D Deves

| REGISTERED OFFICE: | Bingham's Melcombe

| Dorchester

| Dorset

| DT2 7PZ

| BUSINESS ADDRESS: | 4 Enterprise Way

| Aviation Park West

| Bournemouth International Airport

| Christchurch

| Dorset

| BH23 6EW

| REGISTERED NUMBER: | 01563804 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Michael Argyle BSc ACA

| AUDITORS: | Duncan & Toplis Audit Limited, Statutory Auditor

| 3 Castlegate

| Grantham

| Lincolnshire

| NG31 6SF

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 3 | 733,723 |  | 604,057 |  |

CURRENT ASSETS

Inventories | 4 | 1,025,380 |  | 770,213 |  |

Debtors | 5 | 1,137,493 |  | 735,300 |  |

Cash at bank | 120,957 |  | 21,743 |  |

2,283,830 |  | 1,527,256 |  |

CREDITORS

Amounts falling due within one year | 6 | 1,984,054 |  | 1,665,815 |  |

NET CURRENT ASSETS/(LIABILITIES) | 299,776 |  | (138,559 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,033,499 |  | 465,498 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (67,752 | ) | (147,812 | ) |

PROVISIONS FOR LIABILITIES | 9 | (58,118 | ) | (32,504 | ) |

NET ASSETS | 907,629 |  | 285,182 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 1,000,000 |  | 1,200 |  |

Retained earnings | (92,371 | ) | 283,982 |  |

SHAREHOLDERS' FUNDS | 907,629 |  | 285,182 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

J C Langham - Director

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| The company is a subsidiary of Langham Industries Limited. Consolidated financial statements of Langham

| Industries Limited can be obtained from:

| Companies House

| Crown Way

| Cardiff

| CF14 3UZ

| Revenue

| Revenue represents sales of goods and services at invoice value less trade discounts allowed and excluding value added tax. Revenue is recognised upon despatch of goods or when services are performed.

| Property, plant and equipment

| Property, plant and equipment assets are held at cost less accumulated depreciation and accumulated impairment losses.

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery - 15% - 20% on reducing balance

| Motor vehicles - 25% on reducing balance

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

| Inventories

| Raw materials are valued at the lower of cost and fair value less costs to complete and sell and due allowance is made for obsolete and excess inventories.

| Work in progress and finished goods are valued at the lower of cost, including relevant works overheads, and fair value less costs to complete and sell.

| Inventories are accounted for on a first-in-first-out basis.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts 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. Accounts 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.

| Amounts recoverable on contract

| Revenue is recognised on contracts where the company has obtained a right to consideration. Revenue recognised in this manner is based on an assessment of the fair value of the goods and services provided at the balance sheet date as a proportion of the total value of the contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

| Going concern

| The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors believe that this basis is appropriate because the company's ultimate parent company, Langham Industries Limited, has stated that it will provide financial support for the foreseeable future. To this end, Langham Industries Limited converted intra-group loans totalling £998,800 into share capital during 2024.

2. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 44 (2023 - 41 ) .

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | PROPERTY, PLANT AND EQUIPMENT

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024 | 1,504,419 |  |

| Additions | 235,998 |  |

| At 31 December 2024 | 1,740,417 |  |

| DEPRECIATION

| At 1 January 2024 | 900,362 |  |

| Charge for year | 106,332 |  |

| At 31 December 2024 | 1,006,694 |  |

| NET BOOK VALUE

| At 31 December 2024 | 733,723 |  |

| At 31 December 2023 | 604,057 |  |

4. | INVENTORIES

2024 | 2023 |

£ | £ |

| Raw materials and consumables | 535,504 |  | 458,131 |  |

| Work-in-progress | 382,431 |  | 248,414 |  |

| Finished goods | 107,445 |  | 63,668 |  |

1,025,380 |  | 770,213 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 573,528 |  | 312,246 |  |

| Amounts owed by group undertakings | - |  | 54,322 |  |

| Amounts recoverable on contract | 491,540 |  | 296,073 |  |

| Prepayments | 72,425 |  | 72,659 |  |

1,137,493 |  | 735,300 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 78,566 |  | 66,952 |  |

| Payments on account | 45,970 |  | - |  |

| Trade creditors | 164,698 |  | 154,685 |  |

| Amounts owed to group undertakings | 1,560,842 |  | 1,327,548 |  |

| Other taxes and social security | 99,769 |  | 89,965 |  |

| Other creditors and accruals | 34,209 |  | 26,665 |  |

1,984,054 |  | 1,665,815 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 67,752 |  | 147,812 |  |

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 146,318 |  | 214,764 |  |

| Hire purchase creditors are secured on the asset to which they relate.

9. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax

| Tax losses carried forward | (112,345 | ) | (112,345 | ) |

| Accelerated capital allowances | 173,444 |  | 146,901 |  |

| Other timing differences | (2,981 | ) | (2,052 | ) |

58,118 |  | 32,504 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 32,504 |  |

| Charge to Statement of Income and Retained Earnings during year | 25,614 |  |

| Balance at 31 December 2024 | 58,118 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 1,200 | Ordinary shares | £1 | 1,000,000 |  | 1,200 |  |

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Michael Argyle BSc ACA (Senior Statutory Auditor)

| for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

12. | CONTINGENT LIABILITIES

| There are unlimited inter-company guarantees given by the company, nine fellow subsidiary companies and the parent company, in favour of Barclays plc. The total amount secured in respect of fellow group companies as at 31 December 2024, excluding this company, was £181,035 (2023 - £124,578).

N.F.F. PRECISION LIMITED (REGISTERED NUMBER: 01563804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

13. | OTHER FINANCIAL COMMITMENTS

| The company had total guarantees and commitments as shown below.

| Minimum lease payments under non-cancellable operating leases fall due as follows :

|  | 2024 |  |  | 2023 |  |

|  | £ |  |  | £ |  |

| Within one year |  |  | 101,795 |  |  | 114,541 |  |

| Between one and five years |  |  | 400,000 |  |  | 401,795 |  |

| In more than five years |  |  | 1,158,000 |  |  | 1,258,000 |  |

|  | 1,659,795 |  |  | 1,774,336 |  |

14. | ULTIMATE PARENT COMPANY

| The ultimate parent company is Langham Industries Limited, which is registered in England and Wales. The ultimate parent company's registered office is Bingham's Melcombe, Dorchester, Dorset, DT2 7PZ.

| The ultimate controlling party of Langham Industries Limited is the Langham family.