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Company No: 02251944 (England and Wales)

# ALDERMAN TOOLING LIMITED

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

ALDERMAN TOOLING LIMITED

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

ALDERMAN TOOLING LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 May 2025
ALDERMAN TOOLING LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 14,975 |  | 24,825
Tangible assets | 4 | 1,185,963 |  | 1,208,116
|  | 1,200,938 |  | 1,232,941
Current assets |  |  |  |
Stocks | 5 | 288,724 |  | 398,357
Debtors | 6 | 597,310 |  | 558,380
Cash at bank and in hand |  | 718,147 |  | 508,972
|  | 1,604,181 |  | 1,465,709
Creditors: amounts falling due within one year | 7 | ( 673,500) |  | ( 650,447)
Net current assets |  | 930,681 |  | 815,262
Total assets less current liabilities |  | 2,131,619 |  | 2,048,203
Creditors: amounts falling due after more than one year | 8 | ( 61,247) |  | ( 88,931)
Provision for liabilities | 9 | ( 274,646) |  | ( 276,168)
Net assets |  | 1,795,726 |  | 1,683,104
Capital and reserves |  |  |  |
Called-up share capital | 10 | 100 |  | 100
Profit and loss account |  | 1,795,626 |  | 1,683,004
Total shareholder's funds |  | 1,795,726 |  | 1,683,104

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

Directors' responsibilities:

- The member has 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 Income and Retained Earnings has not been delivered.

The financial statements of Alderman Tooling Limited (registered number: 02251944) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

Karen Louise Friendship Director |

ALDERMAN TOOLING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
ALDERMAN TOOLING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025

##### 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

Alderman Tooling 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 Bell Close, Newnham Industrial Estate, Plympton, PL7 4JH, 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 Statement of Financial Position 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.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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 Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software | 5 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties 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 | 12 % reducing balance
| 5 - 25 years straight line
Plant and machinery | 10 - 25 % reducing balance
| 3 - 10 years straight line
Vehicles | 25 % reducing balance

Seven items contained within Leasehold improvements are being depreciated on a straight line basis between 5-25 years.
One item contained within Plant and machinery is being depreciated on a straight line basis over 10 years. Computer equipment capitalised within Plant and machinery is depreciated on a straight line basis over 3 years.
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
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.

##### 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.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### 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.

##### 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.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 46 |  | 47

#### 3. Intangible assets

| Computer software |  | Total
| £ |  | £
Cost |  |  |
At 01 June 2024 | 49,250 |  | 49,250
At 31 May 2025 | 49,250 |  | 49,250
Accumulated amortisation |  |  |
At 01 June 2024 | 24,425 |  | 24,425
Charge for the financial year | 9,850 |  | 9,850
At 31 May 2025 | 34,275 |  | 34,275
Net book value |  |  |
At 31 May 2025 | 14,975 |  | 14,975
At 31 May 2024 | 24,825 |  | 24,825

#### 4. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 446,042 |  | 2,454,799 |  | 93,500 |  | 2,994,341
Additions | 15,138 |  | 128,843 |  | 0 |  | 143,981
Disposals | 0 |  | ( 41,889) |  | 0 |  | ( 41,889)
At 31 May 2025 | 461,180 |  | 2,541,753 |  | 93,500 |  | 3,096,433
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 114,689 |  | 1,608,880 |  | 62,656 |  | 1,786,225
Charge for the financial year | 29,414 |  | 124,502 |  | 7,711 |  | 161,627
Disposals | 0 |  | ( 37,382) |  | 0 |  | ( 37,382)
At 31 May 2025 | 144,103 |  | 1,696,000 |  | 70,367 |  | 1,910,470
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 317,077 |  | 845,753 |  | 23,133 |  | 1,185,963
At 31 May 2024 | 331,353 |  | 845,919 |  | 30,844 |  | 1,208,116

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Raw materials | 192,753 |  | 267,774
Work in progress | 52,452 |  | 73,005
Finished goods | 43,519 |  | 57,578
| 288,724 |  | 398,357

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 531,133 |  | 487,537
Amounts owed by directors | 5,600 |  | 0
Prepayments | 50,829 |  | 52,111
Other debtors | 9,748 |  | 18,732
| 597,310 |  | 558,380

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 331,959 |  | 354,377
Amounts owed to Group undertakings | 13,050 |  | 0
Accruals and deferred income | 111,279 |  | 80,015
Taxation and social security | 173,440 |  | 116,132
Obligations under finance leases and hire purchase contracts | 24,499 |  | 70,429
Other creditors | 19,273 |  | 29,494
| 673,500 |  | 650,447

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Deferred income | 0 |  | 3,185
Obligations under finance leases and hire purchase contracts | 61,247 |  | 85,746
| 61,247 |  | 88,931

There are no amounts included above in respect of which any security has been given by the small entity.

#### 9. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 276,168) |  | ( 272,534)
Credited/(charged) to the Statement of Income and Retained Earnings | 1,522 |  | ( 3,634)
At the end of financial year | ( 274,646) |  | ( 276,168)

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
49 Ordinary shares of £ 1.00 each | 49 |  | 49
33 A Ordinary shares of £ 1.00 each | 33 |  | 33
18 B Ordinary shares of £ 1.00 each | 18 |  | 18
| 100 |  | 100

#### 11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 48,000 |  | 48,000
between one and five years | 152,000 |  | 192,000
after five years | 0 |  | 8,000
| 200,000 |  | 248,000

Pensions

The Company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £29,230 (2024: £27,981). Contributions totalling £6,357 (2024: £6,178) were outstanding at the year end and are included in other creditors.

#### 12. Related party transactions

Transactions with owners holding a participating interest in the entity

As the Company is a wholly owned subsidiary of Alderman Engineering Holdings Limited, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with the Parent that wholly owned the Company, which forms part of the group.

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Balance owed by Director | 5,600 |  | 0

There is no fixed date for repayment, so this is treated as repayable on demand, and no interest is charged on the balance.

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Dividends paid to entities with beneficiaries that are close family members of a Director | 0 |  | 12,000
Rent paid to a partnership of which the partners are close family members of a Director | 0 |  | 40,000
Balance due to a close family member of a Director | 12,916 |  | 23,316