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COMPANY REGISTRATION NUMBER: SC239091

Standfast Precision Engineering Ltd

Filleted Unaudited Financial Statements

31 December 2025

Standfast Precision Engineering Ltd

Financial Statements

Year ended 31 December 2025

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

Standfast Precision Engineering Ltd

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 6 | 455,681 | 435,869

Current assets

Stocks | 65,000 | 66,000
Debtors | 7 | 297,168 | 351,922
Cash at bank and in hand | 79,956 | 262,147
| --------- | ---------
| 442,124 | 680,069

Creditors: amounts falling due within one year | 8 | 322,876 | 370,301
| --------- | ---------
Net current assets | 119,248 | 309,768
| --------- | ---------
Total assets less current liabilities | 574,929 | 745,637

Creditors: amounts falling due after more than one year | 9 | 30,820 | 54,161

Provisions | 75,924 | 92,952
| --------- | ---------
Net assets | 468,185 | 598,524
| --------- | ---------

Capital and reserves

Called up share capital | 17,500 | 17,500
Profit and loss account | 450,685 | 581,024
| --------- | ---------
Shareholders funds | 468,185 | 598,524
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The 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 Act with respect to accounting records and the preparation of financial statements .

Standfast Precision Engineering Ltd

Statement of Financial Position (continued)

31 December 2025
These financial statements were approved by the board of directors and authorised for issue on 9 April 2026 , and are signed on behalf of the board by:

Mr G C Wilson | Mrs M T Wilson
Director | Director

Company registration number: SC239091

Standfast Precision Engineering Ltd

Notes to the Financial Statements

Year ended 31 December 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Victoria Street, Craigellachie, Banffshire, AB38 9SR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Goodwill | - | 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Land and buildings | - | 4% straight line
| Plant and machinery | - | 25% reducing balance
| Motor vehicles | - | 25% reducing balance
| Equipment | - | 25% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2024: 14 ).
5. Intangible assets

| Goodwill
| £
Cost |
At 1 January 2025 and 31 December 2025 | 73,914
| --------
Amortisation |
At 1 January 2025 and 31 December 2025 | 73,914
| --------
Carrying amount |
At 31 December 2025 | –
| --------
At 31 December 2024 | –
| --------

6. Tangible assets

| Freehold property | Plant and machinery | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 January 2025 | 177,593 | 1,537,751 | 61,328 | 53,719 | 1,830,391
Additions | – | 93,000 | 65,912 | 999 | 159,911
| --------- | ------------ | --------- | -------- | ------------
At 31 December 2025 | 177,593 | 1,630,751 | 127,240 | 54,718 | 1,990,302
| --------- | ------------ | --------- | -------- | ------------
Depreciation |  |  |  |  |
At 1 January 2025 | 113,531 | 1,184,769 | 42,963 | 53,259 | 1,394,522
Charge for the year | 7,084 | 111,493 | 21,069 | 453 | 140,099
| --------- | ------------ | --------- | -------- | ------------
At 31 December 2025 | 120,615 | 1,296,262 | 64,032 | 53,712 | 1,534,621
| --------- | ------------ | --------- | -------- | ------------
Carrying amount |  |  |  |  |
At 31 December 2025 | 56,978 | 334,489 | 63,208 | 1,006 | 455,681
| --------- | ------------ | --------- | -------- | ------------
At 31 December 2024 | 64,062 | 352,982 | 18,365 | 460 | 435,869
| --------- | ------------ | --------- | -------- | ------------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 288,300 | 348,179
Other debtors | 8,868 | 3,743
| --------- | ---------
| 297,168 | 351,922
| --------- | ---------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 45,154 | 10,648
Trade creditors | 59,400 | 21,028
Corporation tax | 58,262 | 148,701
Social security and other taxes | 69,312 | 112,550
Other creditors | 90,748 | 77,374
| --------- | ---------
| 322,876 | 370,301
| --------- | ---------

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

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 3,188 | 7,565
Other creditors | 27,632 | 46,596
| -------- | --------
| 30,820 | 54,161
| -------- | --------

10. Directors' advances, credits and guarantees
At 31 December 2025 the company was due the director £39 (2024 £24). This loan is interest free and has no fixed terms of repayment.