REGISTERED NUMBER: 15387011 (England and Wales)

Unaudited Financial Statements

for the Period 4 January 2024 to 31 March 2025

for

Piran Machining Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Searle

M Patel

SECRETARY:

REGISTERED OFFICE:

SH1

Aerohub 1

St Mawgan

Cornwall

TR8 4HP

REGISTERED NUMBER:

15387011 (England and Wales)

ACCOUNTANTS:

Derek Cousens Ltd

Chartered Accountants

20 Crockwell Street

Bodmin

Cornwall

PL31 2DS

FIXED ASSETS

Intangible assets

4

309,334

Tangible assets

5

325,330

634,664

CURRENT ASSETS

Stocks

182,500

Debtors

6

461,892

Cash at bank

231,107

875,499

CREDITORS

Amounts falling due within one year

7

764,669

NET CURRENT ASSETS

110,830

TOTAL ASSETS LESS CURRENT LIABILITIES

745,494

CREDITORS

Amounts falling due after more than one year

8

333,106

NET ASSETS

412,388

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

412,288

412,388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2025 and were signed on its behalf by:

M A Searle - Director

1.	STATUTORY INFORMATION

Piran Machining Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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 under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Lease are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

411,098

At 31 March 2025

411,098

AMORTISATION

Charge for period

101,764

At 31 March 2025

101,764

NET BOOK VALUE

At 31 March 2025

309,334

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

371,283

At 31 March 2025

371,283

DEPRECIATION

Charge for period

45,953

At 31 March 2025

45,953

NET BOOK VALUE

At 31 March 2025

325,330

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

439,297

Amounts owed by participating interests

95

Other debtors

22,500

461,892

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

53,503

Trade creditors

279,694

Amounts owed to participating interests

253,211

Taxation and social security

91,268

Other creditors

86,993

764,669

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

89,486

Other creditors

243,620

333,106

9.	RELATED PARTY DISCLOSURES

Piran Machining Ltd and Piran Composites Ltd are both controlled by Piran Technology Group Ltd.

During the accounting period, Piran Machining Ltd invoiced Piran Composites Ltd a total of £1,179,506.

During the accounting period, Piran Composites Ltd invoiced Piran Machining Ltd a total of £221,754.

At the end of the accounting period, there is a total of £98,407 owed to Piran Machining Ltd. This amount has no fixed repayment date and is repayable on demand.