Company No: 03654531 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	264,510		188,962
		264,510		188,962
Current assets
Stocks		58,138		67,465
Debtors	4	263,716		430,656
Cash at bank and in hand		260,752		250,103
		582,606		748,224
Creditors: amounts falling due within one year	5	( 474,375)		( 618,048)
Net current assets		108,231		130,176
Total assets less current liabilities		372,741		319,138
Creditors: amounts falling due after more than one year	6	( 80,172)		( 48,577)
Provision for liabilities		( 43,827)		( 36,159)
Net assets		248,742		234,402
Capital and reserves
Called-up share capital	7	30		30
Profit and loss account		248,712		234,372
Total shareholder's funds		248,742		234,402

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Quality Component Engineering Limited (registered number: 03654531) were approved and authorised for issue by the Director on 05 May 2026. They were signed on its behalf by:

Mr S J Russell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quality Component Engineering Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Unit 18, 23 Royal William Yard, Plymouth, PL1 3GW, United Kingdom. The principal place of business is Unit 12a, Galileo Close, Plympton, PL7 4JW.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	26		25

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 November 2024	6,265		682,103		148,627		76,250		913,245
Additions	44,432		1,850		88,000		9,646		143,928
Disposals	0		0		( 29,995)		0		( 29,995)
At 31 October 2025	50,697		683,953		206,632		85,896		1,027,178
Accumulated depreciation
At 01 November 2024	3,863		611,043		61,507		47,870		724,283
Charge for the financial year	2,878		10,844		31,520		4,860		50,102
Disposals	0		0		( 11,717)		0		( 11,717)
At 31 October 2025	6,741		621,887		81,310		52,730		762,668
Net book value
At 31 October 2025	43,956		62,066		125,322		33,166		264,510
At 31 October 2024	2,402		71,060		87,120		28,380		188,962

4. Debtors

	2025		2024
	£		£
Trade debtors	224,603		300,102
Amounts owed by Group undertakings	0		58,883
Other debtors	39,113		71,671
	263,716		430,656

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	6,216		6,540
Trade creditors	178,814		248,908
Amounts owed to Group undertakings	33,470		4,852
Taxation and social security	66,622		73,755
Obligations under finance leases and hire purchase contracts	19,513		9,473
Other creditors	169,740		274,520
	474,375		618,048

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

	2025		2024
	£		£
Bank loans	20,915		24,946
Obligations under finance leases and hire purchase contracts	59,257		23,631
	80,172		48,577

The amounts owed in respect of hire purchase contracts are secured against the assets in which they relate to.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
15 Ordinary A shares of £ 1.00 each	15		15
15 Ordinary B shares of £ 1.00 each	15		15
	30		30

8. Ultimate controlling party

Parent Company:

QC Engineering Group Limited

The registered office of QC Engineering Group Limited is C/O PKF Francis Clark LLP, Melville Building East, Royal William Yard, Plymouth, United Kingdom, PL1 3GW