Company registration number 01837889 (England and Wales)
AFC PRECISION ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
AFC PRECISION ENGINEERING LIMITED
COMPANY INFORMATION
Directors
Mr P I Upton
Mrs E J Upton
Company number
01837889
Registered office
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Accountants
Ellacotts LLP
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
AFC PRECISION ENGINEERING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
AFC PRECISION ENGINEERING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AFC PRECISION ENGINEERING LIMITED FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AFC Precision Engineering Limited for the year ended 31 August 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of AFC Precision Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of AFC Precision Engineering Limited and state those matters that we have agreed to state to the Board of Directors of AFC Precision Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AFC Precision Engineering Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that AFC Precision Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AFC Precision Engineering Limited. You consider that AFC Precision Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AFC Precision Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Ellacotts LLP
Chartered Accountants
Countrywide House
23 West Bar
Banbury
Oxfordshire
OX16 9SA
England
12 January 2026
AFC PRECISION ENGINEERING LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
116,930
104,338
Current assets
Stocks
4
11,000
8,000
Debtors
5
166,125
191,917
Cash at bank and in hand
93,743
181,707
270,868
381,624
Creditors: amounts falling due within one year
6
(143,122)
(172,986)
Net current assets
127,746
208,638
Total assets less current liabilities
244,676
312,976
Creditors: amounts falling due after more than one year
7
(24,305)
-
0
Provisions for liabilities
(29,232)
(26,084)
Net assets
191,139
286,892
Capital and reserves
Called up share capital
6,000
6,000
Profit and loss reserves
185,139
280,892
Total equity
191,139
286,892
AFC PRECISION ENGINEERING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
31 August 2025
- 3 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 January 2026 and are signed on its behalf by:
Mr P I Upton
Director
Company registration number 01837889 (England and Wales)
AFC PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
1
Accounting policies
Company information

AFC Precision Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Countrywide House, 23 West Bar, Banbury, Oxfordshire, England, OX16 9SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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 and settlement discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
16.6% straight-line
Computer equipment
25% straight-line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Cash at bank and in hand

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 current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

AFC PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
9
AFC PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
3
Tangible fixed assets
Plant and equipment
Computer equipment
Total
£
£
£
Cost
At 1 September 2024
342,117
7,006
349,123
Additions
46,926
4,974
51,900
Disposals
(2,169)
(3,329)
(5,498)
At 31 August 2025
386,874
8,651
395,525
Depreciation and impairment
At 1 September 2024
240,228
4,557
244,785
Depreciation charged in the year
37,145
2,163
39,308
Eliminated in respect of disposals
(2,169)
(3,329)
(5,498)
At 31 August 2025
275,204
3,391
278,595
Carrying amount
At 31 August 2025
111,670
5,260
116,930
At 31 August 2024
101,889
2,449
104,338
4
Stocks
2025
2024
£
£
Stocks
11,000
8,000
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
154,190
181,475
Other debtors
11,935
10,442
166,125
191,917
AFC PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under hire purchase
13,889
2,460
Trade creditors
19,239
46,961
Corporation tax
56,651
65,460
Other taxation and social security
44,372
40,258
Other creditors
5,986
11,157
Accruals and deferred income
2,985
6,690
143,122
172,986

Hire purchase commitments are secured against the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under hire purchase
24,305
-
0

Hire purchase commitments are secured against the assets to which they relate.

8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
29,232
26,084
2025
Movements in the year:
£
Liability at 1 September 2024
26,084
Charge to profit or loss
3,148
Liability at 31 August 2025
29,232
AFC PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
74,468
74,468
Between two and five years
170,063
244,530
In over five years
-
0
-
0
244,531
318,998
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