IRIS Accounts Production v25.4.12.37 03633197 Board of Directors Board of Directors 1.6.24 31.5.25 31.5.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03633197 2024-05-31 03633197 2025-05-31 03633197 2024-06-01 2025-05-31 03633197 2023-05-31 03633197 2023-06-01 2024-05-31 03633197 2024-05-31 03633197 ns15:EnglandWales 2024-06-01 2025-05-31 03633197 ns14:PoundSterling 2024-06-01 2025-05-31 03633197 ns10:Director1 2024-06-01 2025-05-31 03633197 ns10:Director2 2024-06-01 2025-05-31 03633197 ns10:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 03633197 ns10:SmallEntities 2024-06-01 2025-05-31 03633197 ns10:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 03633197 ns10:SmallCompaniesRegimeForDirectorsReport 2024-06-01 2025-05-31 03633197 ns10:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 03633197 ns10:FullAccounts 2024-06-01 2025-05-31 03633197 ns10:RegisteredOffice 2024-06-01 2025-05-31 03633197 ns5:CurrentFinancialInstruments 2025-05-31 03633197 ns5:CurrentFinancialInstruments 2024-05-31 03633197 ns5:Non-currentFinancialInstruments 2025-05-31 03633197 ns5:Non-currentFinancialInstruments 2024-05-31 03633197 ns5:ShareCapital 2025-05-31 03633197 ns5:ShareCapital 2024-05-31 03633197 ns5:SharePremium 2025-05-31 03633197 ns5:SharePremium 2024-05-31 03633197 ns5:RetainedEarningsAccumulatedLosses 2025-05-31 03633197 ns5:RetainedEarningsAccumulatedLosses 2024-05-31 03633197 ns5:LeaseholdImprovements 2024-05-31 03633197 ns5:PlantMachinery 2024-05-31 03633197 ns5:FurnitureFittings 2024-05-31 03633197 ns5:MotorVehicles 2024-05-31 03633197 ns5:LeaseholdImprovements 2024-06-01 2025-05-31 03633197 ns5:PlantMachinery 2024-06-01 2025-05-31 03633197 ns5:FurnitureFittings 2024-06-01 2025-05-31 03633197 ns5:MotorVehicles 2024-06-01 2025-05-31 03633197 ns5:LeaseholdImprovements 2025-05-31 03633197 ns5:PlantMachinery 2025-05-31 03633197 ns5:FurnitureFittings 2025-05-31 03633197 ns5:MotorVehicles 2025-05-31 03633197 ns5:LeaseholdImprovements 2024-05-31 03633197 ns5:PlantMachinery 2024-05-31 03633197 ns5:FurnitureFittings 2024-05-31 03633197 ns5:MotorVehicles 2024-05-31 03633197 ns5:LeasedAssetsHeldAsLessee 2024-06-01 2025-05-31 03633197 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-05-31 03633197 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-05-31 03633197 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2025-05-31 03633197 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2024-05-31 03633197 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-05-31 03633197 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2024-05-31 03633197 ns5:BetweenOneFiveYears ns5:HirePurchaseContracts 2025-05-31 03633197 ns5:BetweenOneFiveYears ns5:HirePurchaseContracts 2024-05-31 03633197 ns5:HirePurchaseContracts 2025-05-31 03633197 ns5:HirePurchaseContracts 2024-05-31 03633197 ns5:WithinOneYear 2025-05-31 03633197 ns5:WithinOneYear 2024-05-31 03633197 ns5:BetweenOneFiveYears 2025-05-31 03633197 ns5:BetweenOneFiveYears 2024-05-31 03633197 ns5:MoreThanFiveYears 2025-05-31 03633197 ns5:MoreThanFiveYears 2024-05-31 03633197 ns5:AllPeriods 2025-05-31 03633197 ns5:AllPeriods 2024-05-31

REGISTERED NUMBER: 03633197 (England and Wales)

FALCON PRECISION LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page |

| Company Information | 1 |

| Accountants' Report | 2 |

| Balance Sheet | 3 |

| Notes to the Financial Statements | 5 |

| FALCON PRECISION LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MAY 2025

| DIRECTORS: | Mr K Killick

| Mr J Ogden

| REGISTERED OFFICE: | Fryern House

| 125 Winchester Road

| Chandlers Ford

| Eastleigh

| Hampshire

| SO53 2DR

| REGISTERED NUMBER: | 03633197 (England and Wales)

| ACCOUNTANTS: | Rothmans CF Limited

| Fryern House

| 125 Winchester Road

| Chandlers Ford

| Eastleigh

| Hampshire

| SO53 2DR

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

FALCON PRECISION LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Falcon Precision Limited for the year ended 31 May 2025 which comprise the Statement of Income and Retained Earnings, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Falcon Precision 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 Falcon Precision Limited. You consider that Falcon Precision 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 Falcon Precision 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 financial statements.

Rothmans CF Limited

Fryern House

125 Winchester Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2DR

22 January 2026

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

BALANCE SHEET

31 MAY 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 496,753 |  | 418,323 |  |

CURRENT ASSETS

Stocks | 26,212 |  | 25,868 |  |

Debtors | 5 | 315,022 |  | 356,990 |  |

Cash at bank and in hand | 318,210 |  | 307,951 |  |

659,444 |  | 690,809 |  |

CREDITORS

Amounts falling due within one year | 6 | 446,769 |  | 404,262 |  |

NET CURRENT ASSETS | 212,675 |  | 286,547 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 709,428 |  | 704,870 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (81,207 | ) | (135,497 | ) |

PROVISIONS FOR LIABILITIES | 10 | (154,421 | ) | (137,309 | ) |

NET ASSETS | 473,800 |  | 432,064 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Share premium | 9,900 |  | 9,900 |  |

Retained earnings | 462,900 |  | 421,164 |  |

SHAREHOLDERS' FUNDS | 473,800 |  | 432,064 |  |

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

BALANCE SHEET - continued

31 MAY 2025

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2026 and were signed on its behalf by:

Mr J Ogden - Director

Mr K Killick - Director

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1. | STATUTORY INFORMATION

| Falcon Precision Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03633197 and the registered office is Fryern House, 125 Winchester Road, Chandlers Ford, Hampshire, SO53 2DR.

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.

| The presentation currency of the accounts is the pound (£) sterling.

| Going concern

| The financial statements have been prepared on the going concern basis.

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

| The following judgements (apart from those involving estimates) have had the most significant effect on the amounts recognised in the financial statements.

| 1) Leases

| A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an operating lease and is therefore not included in the statement of financial position.

| Other key sources of estimation uncertainty;

| 2) Tangible fixed assets

| Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as market conditions, the remaining life of the asset and projected disposal values.

| 3) Dilapidations provision

| Estimates are based on management's expectations for the costs to be incurred at the end of the lease in order to restore the property to its original condition.

| Turnover

| Turnover is derived from metal work and machining services and represents net amounts invoiced during the year (excluding value added tax) adjusted for accrued and deferred income where applicable. Turnover is recognised on despatch of goods.

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| All fixed assets are initially recorded at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

| The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location or condition necessary for it to be capable of operating in a manner intended by management.

| Depreciation is calculated so as to write off the cost of an asset less its estimated residual value, over the useful economic life of the asset as follows:

| Improvements to property |  | - Straight line over 25 years |  |

| Plant and machinery |  | - 25% Reducing balance |  |

| Furniture & equipment |  | - 25% Reducing balance |  |

| Motor vehicles |  | - 25% Reducing balance |  |

| The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

| Work in progress

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

| Work in progress includes labour and direct expenditure.

| Financial instruments

| The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| 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 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 year 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to the income statement 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 the income statement in the period to which they relate.

| 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.

| Government grants

| Grants of a revenue nature are credited to the income statement in the period to which they relate in accordance with the terms of the grant. Any deferred element of the grant is included within creditors as deferred income.

| Warranty provision

| The warranty provision represents the expected future costs to be incurred in order to repair goods under the period of the warranty.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 19 (2024 - 20 ) .

4. | TANGIBLE FIXED ASSETS

Improvements | Plant and | Furniture & | Motor |  |

to property | machinery | equipment | vehicles | Totals |

| £ | £ | £ | £ | £

| COST

| At 1 June 2024 | 115,885 |  | 1,207,275 |  | 90,260 |  | 15,650 |  | 1,429,070 |  |

| Additions | - |  | 159,820 |  | 16,102 |  | - |  | 175,922 |  |

| Disposals | - |  | (31,545 | ) | - |  | - |  | (31,545 | ) |

| At 31 May 2025 | 115,885 |  | 1,335,550 |  | 106,362 |  | 15,650 |  | 1,573,447 |  |

| DEPRECIATION

| At 1 June 2024 | 20,064 |  | 914,844 |  | 69,649 |  | 6,190 |  | 1,010,747 |  |

| Charge for year | 4,026 |  | 82,676 |  | 8,391 |  | 2,365 |  | 97,458 |  |

| Eliminated on disposal | - |  | (31,511 | ) | - |  | - |  | (31,511 | ) |

| At 31 May 2025 | 24,090 |  | 966,009 |  | 78,040 |  | 8,555 |  | 1,076,694 |  |

| NET BOOK VALUE

| At 31 May 2025 | 91,795 |  | 369,541 |  | 28,322 |  | 7,095 |  | 496,753 |  |

| At 31 May 2024 | 95,821 |  | 292,431 |  | 20,611 |  | 9,460 |  | 418,323 |  |

| The net book value of tangible fixed assets includes £149,216 (2024 - £162,279) in respect of assets held under hire purchase contracts.

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade debtors | 264,196 |  | 307,717 |  |

| Prepayments and accrued income | 50,826 |  | 49,273 |  |

315,022 |  | 356,990 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Bank loans and overdrafts | 10,000 |  | 10,000 |  |

| Hire purchase contracts (see note 8) | 56,776 |  | 52,035 |  |

| Trade creditors | 281,902 |  | 184,573 |  |

| Amounts owed to group undertakings | 75 |  | - |  |

| Social security and other taxes | 45,452 |  | 82,933 |  |

| VAT | 21,147 |  | 55,472 |  |

| Other creditors | 7,690 |  | 1,569 |  |

| Accruals and deferred income | 23,727 |  | 17,680 |  |

446,769 |  | 404,262 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

| £ | £

| Bank loans - 1-2 years | - |  | 10,000 |  |

| Hire purchase contracts (see note 8) | 81,207 |  | 125,497 |  |

81,207 |  | 135,497 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

| £ | £

| Net obligations repayable:

| Within one year | 56,776 |  | 52,035 |  |

| Between one and five years | 81,207 |  | 125,497 |  |

137,983 |  | 177,532 |  |

Non-cancellable |

operating leases |

2025 | 2024 |

| £ | £

| Within one year | 100,002 |  | 107,233 |  |

| Between one and five years | 324,958 |  | 365,877 |  |

| In more than five years | - |  | 59,083 |  |

424,960 |  | 532,193 |  |

FALCON PRECISION LIMITED (REGISTERED NUMBER: 03633197) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

| £ | £

| Hire purchase contracts | 137,983 |  | 177,532 |  |

| Obligations under hire purchase contracts are secured on the assets to which they relate.

10. | PROVISIONS FOR LIABILITIES

|  | Deferred tax provision |  |  | Warranty provision |  |  | Dilapidation provision |  |  | Total

|  | Balance at 1 June 2024 |  |  | 104,157 |  |  | 3,152 |  |  | 30,000 |  | 137,309 |

|  | Provided during the year |  |  | 18,865 |  |  | (1,753 | ) |  | - |  | 17,112 |

|  | Balance at 31 May 2025 |  |  | 123,022 |  |  | 1,399 |  |  | 30,000 |  | 154,421 |

| The above deferred tax balance relates to accelerated capital allowances.