Company No: 06016128 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	I S Bahia (Resigned 19 July 2024)
	C Dowling
	J Lynch (Appointed 01 December 2024)
	P N Marson (Appointed 19 July 2024, Resigned 01 December 2024)
	P J Strafford (Appointed 19 July 2024, Resigned 01 December 2024)
	A Thornton

REGISTERED OFFICE	85 Great Portland Street
	London
	W1W 7LT
	United Kingdom

COMPANY NUMBER

06016128 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor Cumberland House
	15-17 Cumberland Place
	Southampton
	Hampshire
	SO15 2BG

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,583,655		1,392,605
		1,583,655		1,392,605
Current assets
Stocks		391,419		441,577
Debtors	4	548,083		562,832
Cash at bank and in hand		453,175		216,709
		1,392,677		1,221,118
Creditors: amounts falling due within one year	5	( 713,622)		( 739,212)
Net current assets		679,055		481,906
Total assets less current liabilities		2,262,710		1,874,511
Creditors: amounts falling due after more than one year	6	( 289,095)		( 251,484)
Provision for liabilities		( 393,302)		( 348,151)
Net assets		1,580,313		1,274,876
Capital and reserves
Called-up share capital		100		100
Revaluation reserve		0		8,283
Profit and loss account		1,580,213		1,266,493
Total shareholder's funds		1,580,313		1,274,876

For the financial year ending 31 December 2024 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 Profit and Loss Account has not been delivered.

The financial statements of Kirkstall Precision Limited (registered number: 06016128) were approved and authorised for issue by the Board of Directors on 24 September 2025. They were signed on its behalf by:

A Thornton 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

Kirkstall Precision 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 85 Great Portland Street, London, W1W 7LT, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Kirkstall Precision Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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
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 Balance Sheet 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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

Plant and machinery	10 - 20 % reducing balance
Vehicles	4 years straight line
Fixtures and fittings	7 years straight line
Office equipment	20 % reducing balance

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 Profit and Loss Account 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.

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 where applicable and an attributable proportion of manufacturing overheads based on normal levels of activity.

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.

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 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

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

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	41		38

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	2,474,906		53,611		145,999		168,098		2,842,614
Additions	380,932		0		8,245		4,784		393,961
Disposals	0		0		0		( 879)		( 879)
At 31 December 2024	2,855,838		53,611		154,244		172,003		3,235,696
Accumulated depreciation
At 01 January 2024	1,233,678		20,996		108,463		86,872		1,450,009
Charge for the financial year	156,340		13,815		15,348		16,529		202,032
At 31 December 2024	1,390,018		34,811		123,811		103,401		1,652,041
Net book value
At 31 December 2024	1,465,820		18,800		30,433		68,602		1,583,655
At 31 December 2023	1,241,228		32,615		37,536		81,226		1,392,605

4. Debtors

	2024		2023
	£		£
Trade debtors	500,117		296,795
Amounts owed by Group undertakings	0		175,000
Corporation tax	46,430		0
Other debtors	1,536		91,037
	548,083		562,832

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	31,250		62,500
Trade creditors	256,280		141,821
Amounts owed to Parent undertakings	0		175,000
Accruals and deferred income	63,983		22,580
Corporation tax	0		16,705
Other taxation and social security	102,980		84,129
Obligations under finance leases and hire purchase contracts	227,827		212,567
Other creditors	31,302		23,910
	713,622		739,212

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

	2024		2023
	£		£
Bank loans	0		31,250
Deferred income	45,638		0
Obligations under finance leases and hire purchase contracts	243,457		166,393
Other creditors	0		53,841
	289,095		251,484

7. Financial commitments

Commitments

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

	2024		2023
	£		£
within one year	58,917		56,000
between one and five years	99,750		58,917
	158,667		114,917

8. Ultimate controlling party

At the year end the immediate parent undertaking was Innovative Engineering Group Limited, a company registered in England and Wales.

The ultimate controlling party is Ansor Fund II GP LLP, a Limited Liability Partnership registered in England and Wales.