REGISTERED NUMBER: 07107715 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2025

for

Neida Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Profit and Loss Account

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

Mr D J Brown

Mr A J Brown

SECRETARY:

Mrs S Brown

REGISTERED OFFICE:

Trentham Lakes South

Stoke On Trent

Staffordshire

ST4 8GQ

REGISTERED NUMBER:

07107715 (England and Wales)

AUDITORS:

Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

Neida continues to concentrate on the core business of supplying Precision Turned Parts and Machined Components on medium to long term contracts, from its sites in Stoke-on-Trent, Andover and Freshwater, Isle of Wight.

Performance for the year saw an decrease in turnover of 9.3%, decreasing to £23.3m from £25.7m in 2024.

The group continued its investment in production machinery and supporting ancillary equipment over the period. The group invested some £291k and look to continue the investment plan in 2026.

It is a fundamental objective to maintain a sustainable growth plan, and the group took the time during the year to focus on a wider spread of market sectors.

KEY PERFORMANCE INDICATORS

The key performance indicator detailed above is recognised as an integral part of monitoring the business, along with gross margin and net margin.

2025

2024

Turnover growth

-9.3%

3.1%

It is the responsibility of the commercial team to regularly monitor and review these figures and report the results and any corrective actions to the board.

The directors are happy with the company's performance against those indicators.

FUTURE DEVELOPMENTS

The directors are keen to expand the core business, through organic sustainable growth, supply chain partnerships, and through strategic acquisition opportunities.

The business has a continued re-investment programme, replacing production equipment with newer technology, to enable the group to compete in increasingly competitive markets, which is constantly reviewed in line with business opportunities.

PRINCIPAL RISKS AND UNCERTAINTIES

There are certain risks, which could materially and adversely impact the company's results compared to expectation. A summary of the key risks is set out below. This is not an exhaustive list of the factors that could adversely impact company profitability.

FINANCIAL INSTRUMENTS

The group uses various financial instruments; these include cash and various items, such as trade debtors and trade creditors, that arise directly from its operations.

The existence of these financial instruments exposes the company to several financial risks which are described in more detail below.

The main risks arising from the group's financial instruments are categorised as market risk, credit risk and liquidity risk. The directors review and agree policies for managing these risks and they are summarised below.

MARKET RISK

Operating in a global marketplace, the group transacts in major currencies and has seen to reduce risk by self-hedging, and balancing purchasing and sales contracts.

Continued volatility in global metal markets has seen the group hedge material contracts against major contract commitments, by committing fixed material purchase contracts against firm sales orders.

CREDIT RISK

To counteract the risk of bad debts the business has increased the use of credit checking and monitoring facilities to assess the risk to the group. If a significant risk is identified then a further review is made and where appropriate protective actions are undertaken.

LIQUIDITY RISK

The business has a very strong relationship with its bank. The group has the facilities available to meet its needs on an ongoing basis. These facilities are reviewed on a regular basis, by both the bank and the management, and are in accordance with the needs of the group.

ON BEHALF OF THE BOARD:

Mr D J Brown - Director

12 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group is precision engineering.

The company's principal activity is leasing of property and certain plant and machinery to its subsidiaries.

DIVIDENDS

The directors do not recommend the payment of a final dividend. Dividends paid in the year amounted to

£300,000 (2024: £300,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr D J Brown

Mr A J Brown

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Thompson Wright (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr D J Brown - Director

12 December 2025

Opinion

We have audited the financial statements of Neida Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the product manufacturing sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental consumer rights act, other industry specific accreditations and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jeremy Bostock BA (Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

12 December 2025

TURNOVER

3

23,312,049

25,722,839

Cost of sales

8,148,263

10,642,016

GROSS PROFIT

15,163,786

15,080,823

Administrative expenses

11,361,101

11,213,197

3,802,685

3,867,626

Other operating income

750

-

OPERATING PROFIT

5

3,803,435

3,867,626

Interest receivable and similar income

625,505

220,128

4,428,940

4,087,754

Interest payable and similar expenses

6

4,196

-

PROFIT BEFORE TAXATION

4,424,744

4,087,754

Tax on profit

7

1,089,135

1,105,006

PROFIT FOR THE FINANCIAL YEAR

3,335,609

2,982,748

Profit attributable to:

Owners of the parent

3,335,609

2,982,748

PROFIT FOR THE YEAR

3,335,609

2,982,748

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,335,609

2,982,748

Total comprehensive income attributable to:

Owners of the parent

3,335,609

2,982,748

FIXED ASSETS

Intangible assets

10

154,543

193,143

Tangible assets

11

6,512,565

7,209,494

Investments

12

-

-

Investment property

13

-

-

6,667,108

7,402,637

CURRENT ASSETS

Stocks

14

3,085,598

3,229,708

Debtors

15

5,433,851

4,655,233

Cash at bank and in hand

18,416,661

15,667,866

26,936,110

23,552,807

CREDITORS

Amounts falling due within one year

16

4,804,963

5,053,984

NET CURRENT ASSETS

22,131,147

18,498,823

TOTAL ASSETS LESS CURRENT LIABILITIES

28,798,255

25,901,460

PROVISIONS FOR LIABILITIES

18

1,171,138

1,309,952

NET ASSETS

27,627,117

24,591,508

CAPITAL AND RESERVES

Called up share capital

19

20

20

Capital redemption reserve

20

35

35

Fair value reserve

20

1,301,932

1,301,932

Retained earnings

20

26,325,130

23,289,521

SHAREHOLDERS' FUNDS

27,627,117

24,591,508

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Mr D J Brown - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

4,546,955

5,241,488

Investments

12

1,018,121

1,018,121

Investment property

13

2,100,000

2,100,000

7,665,076

8,359,609

CURRENT ASSETS

Debtors

15

2,724,438

903,558

Cash at bank

14,386,018

13,424,530

17,110,456

14,328,088

CREDITORS

Amounts falling due within one year

16

1,448,408

2,105,160

NET CURRENT ASSETS

15,662,048

12,222,928

TOTAL ASSETS LESS CURRENT LIABILITIES

23,327,124

20,582,537

PROVISIONS FOR LIABILITIES

18

1,032,514

1,175,768

NET ASSETS

22,294,610

19,406,769

CAPITAL AND RESERVES

Called up share capital

19

20

20

Capital redemption reserve

20

6

6

Fair value reserve

20

887,497

887,497

Retained earnings

20

21,407,087

18,519,246

SHAREHOLDERS' FUNDS

22,294,610

19,406,769

Company's profit for the financial year

3,187,841

2,213,599

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Mr D J Brown - Director

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

20

20,606,773

35

1,301,932

21,908,760

Changes in equity

Dividends

-

(300,000

)

-

-

(300,000

)

Total comprehensive income

-

2,982,748

-

-

2,982,748

Balance at 31 March 2024

20

23,289,521

35

1,301,932

24,591,508

Changes in equity

Dividends

-

(300,000

)

-

-

(300,000

)

Total comprehensive income

-

3,335,609

-

-

3,335,609

Balance at 31 March 2025

20

26,325,130

35

1,301,932

27,627,117

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

20

16,605,647

6

887,497

17,493,170

Changes in equity

Dividends

-

(300,000

)

-

-

(300,000

)

Total comprehensive income

-

2,213,599

-

-

2,213,599

Balance at 31 March 2024

20

18,519,246

6

887,497

19,406,769

Changes in equity

Dividends

-

(300,000

)

-

-

(300,000

)

Total comprehensive income

-

3,187,841

-

-

3,187,841

Balance at 31 March 2025

20

21,407,087

6

887,497

22,294,610

Cash flows from operating activities

Cash generated from operations

1

3,730,774

5,804,617

Interest paid

(4,196

)

-

Tax paid

(670,401

)

(680,004

)

Net cash from operating activities

3,056,177

5,124,613

Cash flows from investing activities

Purchase of tangible fixed assets

(291,376

)

(2,517,262

)

Sale of tangible fixed assets

47,037

17,147

Interest received

625,505

220,128

Net cash from investing activities

381,166

(2,279,987

)

Cash flows from financing activities

Amount introduced by directors

29,102

40,000

Amount withdrawn by directors

(417,650

)

-

Equity dividends paid

(300,000

)

(300,000

)

Net cash from financing activities

(688,548

)

(260,000

)

Increase in cash and cash equivalents

2,748,795

2,584,626

Cash and cash equivalents at beginning of year

2

15,667,866

13,083,240

Cash and cash equivalents at end of year

2

18,416,661

15,667,866

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

4,424,744

4,087,754

Depreciation charges

1,026,904

1,093,683

Profit on disposal of fixed assets

(47,036

)

(17,147

)

Finance costs

4,196

-

Finance income

(625,505

)

(220,128

)

4,783,303

4,944,162

Decrease in stocks

144,110

355,562

Increase in trade and other debtors

(778,618

)

(93,296

)

(Decrease)/increase in trade and other creditors

(418,021

)

598,189

Cash generated from operations

3,730,774

5,804,617

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

18,416,661

15,667,866

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

15,667,866

13,083,240

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

15,667,866

2,748,795

18,416,661

15,667,866

2,748,795

18,416,661

Total

15,667,866

2,748,795

18,416,661

1.	STATUTORY INFORMATION

Neida Limited 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved and therefore the financial statements have been prepared on a going concern basis.

Basis of consolidation

The group accounts consolidate the accounts of the group and all its subsidiaries at 31 March. All companies have coterminous year ends. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions

The company makes estimates and assumption concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgement

The realisable value of stock is calculated using long established and tested methodologies that take into account expected obsolescence and market dynamics.

The work in progress and finished goods included stock internally generated and which the directors apply deductions to in order to assess its value excluding any profit element and allowing for future expected costs. This is applied consistently year on year and based on management's assessment of costs to complete and anticipated profit margins historically achieved.

In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the group as lessee, or the lessee, where the group is a lessor.

The fair value of the group's freehold property has been estimated on the basis of a valuation carried out by the directors by assessing the land market conditions and recent comparable sales and consultation with a property surveyor.

The recoverable amount of goodwill is based on value in use which requires estimates in respect of the allocation of goodwill to cash generating units, the future cash flows and an appropriate discount rate. The key inputs to the value in use calculations are the discount rate and the future earnings growth.

Intangible fixed assets, such as goodwill, customer lists and tangible fixed assets, are amortised over their useful lives. The actual useful lives of assets are assessed annually and will vary depending on a number of factors. In assessing the lives of all assets, factors such as technological advancements and current trading levels are taken into account.

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts, and is recognised at fair value.

Income is recognised in the financial statements at the date of despatch of goods.

Goodwill

Goodwill representing the excess of the consideration for an acquired undertaking compared with the fair value of net assets acquired is capitalised and written off evenly over 10 years or the life that the fair value adjustment related to, as in the opinion of the directors this represents the period over which the goodwill is effective. A period of 10 years is deemed reasonable by the directors, as they believe the normal useful life of assets acquired is 10 years.

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.