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Registered number: 01510606 J. S. M. ENGINEERING LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 OCTOBER 2025 Page Kirk LLP Chartered Accountants and Statutory Auditors Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB
J. S. M. ENGINEERING LIMITED
CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 11
J. S. M. ENGINEERING LIMITED REGISTERED NUMBER:01510606
BALANCE SHEET AS AT 31 OCTOBER 2025
| 2025 | 2025 | 2024 | 2024
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 767,575 |  | 799,666
|  |  | 767,575 |  | 799,666
Non-current assets |  |  |  |  |
Debtors due after more than one year |  |  | 236,672 |  | 211,031
Current assets |  |  |  |  |
Debtors due within one year |  | 384,150 |  | 398,754 |
Cash at bank and in hand |  | 3,862 |  | 4,349 |
|  | 388,012 |  | 403,103 |
Creditors: amounts falling due within one year | 6 | (946,256) |  | (988,601) |
Net current liabilities |  |  | (558,244) |  | (585,498)
Total assets less current liabilities |  |  | 446,003 |  | 425,199
Creditors: amounts falling due after more than one year | 7 |  | (6,456) |  | (19,696)
Net assets |  |  | 439,547 |  | 405,503
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 500 |  | 500
Revaluation reserve |  |  | 231,003 |  | 237,872
Profit and loss account |  |  | 208,044 |  | 167,131
|  |  | 439,547 |  | 405,503
Page 1
J. S. M. ENGINEERING LIMITED REGISTERED NUMBER:01510606
BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 May 2026.
................................................ Mr A J S Busuttil
Company secretary and director
The notes on pages 3 to 11 form part of these financial statements. Page 2
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
The company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is: 23 Glaisdale Drive East Bilborough Nottingham NG8 4GU 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
At the balance sheet date, the company had net current liabilities of £558,244 (2024 - £585,498). Included within creditors due within one year are balances owed to group undertakings and directors of £571,419 (2024 - £561,519), which they do not intend to call this debt in within 12 months. The directors have expressed their willingness to continue to support the company and therefore the financial statements have been prepared on the going concern basis. Page 3
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Retentions are recognised as income when the company has earned the right to consideration. The retention is net of any remedial costs.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 4
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.
|  |  |  | Leasehold property | - |  | Over the remaining life of lease
|  |  |  | Plant and equipment | - | 20% | and 10% straight line.
|  |  |  | Motor vehicles | - | 20% | straight line
|  |  |  | Fixtures and fittings | - | 20% | and 10% straight line.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Revaluation of tangible fixed assets
Leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses net of deferred taxation are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.14 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 28 (2024 - 30).
Page 7
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
4. | Tangible fixed assets
|  | Leasehold property | Plant and equipment | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 November 2024 | 801,720 | 126,073 | 154,701 | 10,200 | 1,092,694
| Additions | - | - | 7,856 | - | 7,856
| At 31 October 2025 | 801,720 | 126,073 | 162,557 | 10,200 | 1,100,550
| Depreciation |  |  |  |  |
| At 1 November 2024 | 45,172 | 109,929 | 131,717 | 6,210 | 293,028
| Charge for the year on owned assets | 22,586 | 4,270 | 12,461 | 630 | 39,947
| At 31 October 2025 | 67,758 | 114,199 | 144,178 | 6,840 | 332,975
| Net book value |  |  |  |  |
| At 31 October 2025 | 733,962 | 11,874 | 18,379 | 3,360 | 767,575
| At 31 October 2024 | 756,548 | 16,144 | 22,984 | 3,990 | 799,666
Revaluation The fair value of the company's leasehold property was revalued on 31 January 2023 by an independent valuer. The name of the independent valuer is Fisher Hargreaves Proctor Limited. The independent valuer based the valuations on other similar transactions which had taken place in the same area and adjusted these amounts for the building's individual features. The directors believe this valuation represent the fair value of the property at the balance sheet date. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £503,901 (2024 - £519,304). Page 8
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Trade debtors | 76,954 | 35,720
| Deferred tax asset | 159,718 | 175,311
|  | 236,672 | 211,031
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | 272,036 | 281,124
| Other debtors | 112,114 | 117,630
|  | 384,150 | 398,754
Page 9
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loans and borrowings | 79,853 | 183,786
| Trade creditors | 131,542 | 162,886
| Amounts owed to group undertakings | 357,573 | 340,338
| Other taxation and social security | 45,529 | 38,598
| Obligations under finance lease and hire purchase contracts | 3,228 | 4,653
| Other creditors | 234,982 | 227,981
| Accruals and deferred income | 93,549 | 30,359
|  | 946,256 | 988,601
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Hire purchase contracts | 3,228 | 4,653
| Bank loans and borrowings | 69,402 | 173,138
|  | 72,630 | 177,791
| Details of security provided:
Bank borrowings are secured via a legal charge from National Westminster Bank PLC dated 17 October 2007. This is a fixed charge over all leasehold property. Hire purchase contracts are secured against the assets they relate to. Page 10
J. S. M. ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loans and borrowings | - | 10,012
| Net obligations under finance leases and hire purchase contracts | 6,456 | 9,684
|  | 6,456 | 19,696
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Hire purchase contracts | 6,456 | 9,684
|  | 6,456 | 9,684
| Details of security provided:
Bank borrowings are secured via a legal charge from National Westminster Bank PLC dated 17 October 2007. This is a fixed charge over all leasehold property. Hire purchase contracts are secured against the assets they relate to.
8. | Commitments under operating leases
| At 31 October 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 725 | 725
| Later than 1 year and not later than 5 years | 2,900 | 2,900
| Later than 5 years | 20,119 | 20,844
|  | 23,744 | 24,469
9. | Auditors' information
The auditors' report on the financial statements for the year ended 31 October 2025 was unqualified. The audit report was signed on 8 May 2026 by James Haywood ACA (Senior Statutory Auditor) on behalf of Page Kirk LLP.
Page 11