Caseware UK (AP4) 2025.0.111 2025.0.111 2025-08-31 2026-05-21 2026-05-21 2025-08-31 2026-05-21 92 false false 2024-09-01 false 95 false 00363073 c:Agent1 2024-09-01 2025-08-31 00363073 c:Audited 2024-09-01 2025-08-31 00363073 d:Buildings d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 00363073 d:Buildings 2024-09-01 2025-08-31 00363073 d:Buildings 2025-08-31 00363073 d:Buildings 2024-08-31 00363073 d:CapitalRedemptionReserve 2024-09-01 2025-08-31 00363073 c:CompanySecretary1 2024-09-01 2025-08-31 00363073 d:CurrentFinancialInstruments 2025-08-31 00363073 d:CurrentFinancialInstruments 2024-08-31 00363073 d:AcceleratedTaxDepreciationDeferredTax 2025-08-31 00363073 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 00363073 c:Director1 2024-09-01 2025-08-31 00363073 c:Director2 2024-09-01 2025-08-31 00363073 c:FRS102 2024-09-01 2025-08-31 00363073 c:FullAccounts 2024-09-01 2025-08-31 00363073 d:FurnitureFittings 2024-09-01 2025-08-31 00363073 d:Buildings d:LongLeaseholdAssets 2024-09-01 2025-08-31 00363073 d:LandBuildings 2025-08-31 00363073 d:LandBuildings 2024-08-31 00363073 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 00363073 d:MotorVehicles 2024-09-01 2025-08-31 00363073 d:MotorVehicles 2025-08-31 00363073 d:MotorVehicles 2024-08-31 00363073 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 00363073 d:OfficeEquipment 2024-09-01 2025-08-31 00363073 d:OfficeEquipment 2025-08-31 00363073 d:OfficeEquipment 2024-08-31 00363073 c:OrdinaryShareClass1 2024-09-01 2025-08-31 00363073 c:OrdinaryShareClass1 2025-08-31 00363073 c:OrdinaryShareClass1 2024-08-31 00363073 d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 00363073 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 00363073 d:PlantMachinery 2024-09-01 2025-08-31 00363073 d:PlantMachinery 2025-08-31 00363073 d:PlantMachinery 2024-08-31 00363073 e:PoundSterling 2024-09-01 2025-08-31 00363073 c:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 00363073 c:RegisteredOffice 2024-09-01 2025-08-31 00363073 d:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 00363073 d:RetainedEarningsAccumulatedLosses 2025-08-31 00363073 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 00363073 d:RetainedEarningsAccumulatedLosses 2024-08-31 00363073 d:RetainedEarningsAccumulatedLosses 2023-09-01 00363073 d:Buildings d:ShortLeaseholdAssets 2024-09-01 2025-08-31 00363073 d:Buildings d:ShortLeaseholdAssets 2025-08-31 00363073 d:Buildings d:ShortLeaseholdAssets 2024-08-31 00363073 2024-09-01 2025-08-31 00363073 5 2024-09-01 2025-08-31 00363073 2025-08-31 00363073 2023-09-01 2024-08-31 00363073 5 2023-09-01 2024-08-31 00363073 2024-08-31 00363073 2023-09-01 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00363073 TENABLE SCREW COMPANY LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 TWP ACCOUNTING LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE
TENABLE SCREW COMPANY LIMITED COMPANY INFORMATION
Directors | S T Schlaefli
| N M Schlaefli
Company secretary | S T Schlaefli
Registered number | 00363073
Registered office | 16 Deer Park Rd
| London
| SW19 3UB
Independent auditor | TWP Accounting LLP
| Chartered Accountants & Statutory Auditors
| The Old Rectory
| Church Street
| Weybridge
| Surrey
| KT13 8DE
Bankers | Royal Bank of Scotland PLC
| Drummond House
| 1 Redheughs Avenue
| Edinburgh
| EH12 9JN
TENABLE SCREW COMPANY LIMITED CONTENTS
| Page
Strategic Report | 1 - 2
Directors' Report | 3 - 4
Independent Auditor's Report | 5 - 8
Statement of Income and Retained Earnings | 9
Balance Sheet | 10
Statement of Cash Flows | 11
Notes to the Financial Statements | 12 - 21
TENABLE SCREW COMPANY LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Introduction The Directors present their strategic report for the year ended 31st August 2025. Review of the Business The company is a manufacturing company, and the principal activity continues to be the manufacture and sale of turned parts. The Directors regard Turnover and Gross Margin as the key performance indicators of the business. Trading conditions remained extremely difficult during this period that included the continued effect of the post Brexit market conditions, rising raw material costs, and cost of living, supplier price increases and additional payroll costs as a result of increases in both the national minimum wage and the national insurance employer rate (15%) and threshold reduction (£5,000). Material costs remained at a “high” level for the year, and turnover remained at a similar level to the previous year. Cost levels were maintained and controlled well despite inflationary pressures, resulting in an overall loss after depreciation and tax. The trading year ahead faces further challenges with the lower turnover level that will affect profitability. Capital investment in the year of circa £200k included the purchase of a CNC sliding headstock turning centre. Principal risks and uncertainties The company faces a challenge of managing the effect on sales and profitability as a result of reduced demand, rising raw material costs, lead times and the availability of raw materials which are a key element within the manufacturing processes. The company’s future trading success remains dependent upon the overall state of the economy and the new governments’ policies and decision making related to our business sector and that of our customers. Following the UK leaving the European Union the company faces the loss of customers and turnover from this decision and will continue to plan to minimise its future impact. The company has adequate resources to continue and adopt the going concern basis in preparing the annual report and financial statements. From 1 January 2026, UK manufacturers exporting carbon-intensive goods (steel, iron, aluminium, fertilizers, cement, electricity, hydrogen) to the EU will face direct carbon costs. This is likely to make UK goods less competitive compared to EU-produced alternatives. The reduction of lead in brass will significantly impact UK businesses through stricter manufacturing requirements, increased production costs, and complex supply chain adjustments. Industry analysts suggest that after 2026, lead may not be permitted in many brass and copper alloys without special authorisation from authorities. It continues to be a challenge to recruit new employees including apprentices who have the necessary education and skills to meet the needs of the business. The company’s ability to generate export sales will be affected by fluctuations in the value of sterling. Page 1
TENABLE SCREW COMPANY LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Financial instrument risk
The company’s operations expose it to a variety of financial risks that include the effects of changes in debt market prices, credit risk, liquidity risk, and interest rate risk. The company operates using positive bank balances. Given the size of the company, the Directors have not delegated the responsibility of monitoring risk management to a sub-committee of the board. The policies set by the board are implemented by the Directors and the company’s finance department. The company is exposed to commodity price risk as a result of operations and currency risk. However, given the size of the company’s operations, the cost of managing exposure to commodity price and currency risk exceeds any potential benefits. The Directors will revisit the appropriateness of this policy should the company’s operations change in size or nature. Suitable credit control procedures are in place and receivable balances are regularly monitored on an ongoing basis. This report was approved by the board on 21 May 2026 and signed on its behalf.
................................................ S T Schlaefli Director
Page 2
TENABLE SCREW COMPANY LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The directors present their report and the financial statements for the year ended 31 August 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal activity
The Company's principal activity during the year continued to be the manufacture and supply of turned parts.
Results and dividends
The loss for the year, after taxation, amounted to £169,525 (2024 - loss £347,650). A dividend amounting to £nil (2024: £191,667) has been declared and paid in the current year. The directors do not recommend any further dividend for the year ended 31 August 2025.
Directors
The directors who served during the year were:
S T Schlaefli
N M Schlaefli
Disclosure of information to auditor
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information. Page 3
TENABLE SCREW COMPANY LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Auditor
The auditor, TWP Accounting LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 21 May 2026 and signed on its behalf.
................................................ S T Schlaefli Director
Page 4
TENABLE SCREW COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TENABLE SCREW COMPANY LIMITED
Opinion
We have audited the financial statements of Tenable Screw Company Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of Income and Retained Earnings, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 August 2025 and of its loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 5
TENABLE SCREW COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TENABLE SCREW COMPANY LIMITED (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 6
TENABLE SCREW COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TENABLE SCREW COMPANY LIMITED (CONTINUED)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙Obtain an understanding of the policies and procedures management has in place to detect and prevent fraud and non-compliance with laws and regulations. ∙Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations. ∙Enquire of management and those charged with governance around actual and potential litigation and claims. ∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. ∙Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon. ∙Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified. ∙Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period. ∙Review of after year end information to ensure expenditure have been accounted for in the correct period. ∙Perform analytical review procedures to identify any irregularities and investigation thereon. ∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report. Page 7
TENABLE SCREW COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TENABLE SCREW COMPANY LIMITED (CONTINUED)
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Philip Munk FCA FCCA (Senior Statutory Auditor) for and on behalf of TWP Accounting LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE 21 May 2026 Page 8
TENABLE SCREW COMPANY LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 31 AUGUST 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 7,571,662 | 7,437,802
Cost of sales |  | (6,173,759) | (6,532,447)
Gross profit |  | 1,397,903 | 905,355
Distribution costs |  | (15,444) | (31,704)
Administrative expenses |  | (1,613,943) | (1,458,695)
Operating loss | 5 | (231,484) | (585,044)
Interest receivable and similar income | 9 | 18,261 | 25,477
Loss before tax |  | (213,223) | (559,567)
Tax on loss | 10 | 43,698 | 211,917
Loss after tax |  | (169,525) | (347,650)
Retained earnings at the beginning of the year |  | 6,640,162 | 7,179,479
|  | 6,640,162 | 7,179,479
Loss for the year |  | (169,525) | (347,650)
Dividends declared and paid |  | - | (191,667)
Retained earnings at the end of the year |  | 6,470,637 | 6,640,162
The notes on pages 12 to 21 form part of these financial statements.
Page 9
TENABLE SCREW COMPANY LIMITED REGISTERED NUMBER: 00363073 BALANCE SHEET AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 12 |  | 3,687,770 |  | 3,845,116
|  |  | 3,687,770 |  | 3,845,116
Current assets |  |  |  |  |
Stocks | 13 | 361,825 |  | 434,196 |
Debtors: amounts falling due within one year | 14 | 1,813,706 |  | 1,880,470 |
Cash at bank and in hand | 15 | 2,025,421 |  | 1,956,834 |
|  | 4,200,952 |  | 4,271,500 |
Creditors: amounts falling due within one year | 16 | (1,375,085) |  | (1,389,756) |
Net current assets |  |  | 2,825,867 |  | 2,881,744
Total assets less current liabilities |  |  | 6,513,637 |  | 6,726,860
Provisions for liabilities |  |  |  |  |
Deferred taxation | 17 | - |  | (43,698) |
|  |  | - |  | (43,698)
Net assets excluding pension asset |  |  | 6,513,637 |  | 6,683,162
Net assets |  |  | 6,513,637 |  | 6,683,162
Capital and reserves |  |  |  |  |
Called up share capital | 18 |  | 25,000 |  | 25,000
Capital redemption reserve | 19 |  | 18,000 |  | 18,000
Profit and loss account | 19 |  | 6,470,637 |  | 6,640,162
|  |  | 6,513,637 |  | 6,683,162
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 May 2026.
................................................ S T Schlaefli
Director
The notes on pages 12 to 21 form part of these financial statements. Page 10
TENABLE SCREW COMPANY LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Loss for the financial year | (169,525) | (347,650)
Adjustments for: |  |
Depreciation of tangible assets | 359,088 | 372,025
Loss on disposal of tangible assets | (192) | 380
Interest received | (18,261) | (25,477)
Taxation charge | (43,698) | (211,917)
Decrease in stocks | 72,371 | 182,869
Decrease in debtors | 66,764 | 143,752
(Decrease) in creditors | (14,671) | (89,993)
Net cash generated from operating activities | 251,876 | 23,989
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (202,050) | (616,655)
Sale of tangible fixed assets | 500 | 5,100
Interest received | 18,261 | 25,477
Net cash from investing activities | (183,289) | (586,078)
Cash flows from financing activities |  |
Dividends paid | - | (191,667)
Net cash used in financing activities | - | (191,667)
Net increase/(decrease) in cash and cash equivalents | 68,587 | (753,756)
Cash and cash equivalents at beginning of year | 1,956,834 | 2,710,590
Cash and cash equivalents at the end of year | 2,025,421 | 1,956,834
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 2,025,421 | 1,956,834
| 2,025,421 | 1,956,834
The notes on pages 12 to 21 form part of these financial statements.
Page 11
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
Tenable Screw Company Limited is incorporated in England and Wales and limited by shares. The principal activity of the company is the manufacture and supply of turned parts. The address of the registered office is given in the company information of these financial statements. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.
| 2.3 | 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. Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 2% | Straight line basis
|  |  |  | Long-term leasehold property | - |  | Over the period of the lease
|  |  |  | Plant and machinery | - | 10% | Straight line basis
|  |  |  | Motor vehicles | - | 25% | Reducing balance basis
|  |  |  | Fixtures and fittings | - | 10% | Straight line basis
|  |  |  | Office equipment | - | 10% | Straight line basis
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.
| 2.4 | Research and development
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is recognised as an expense when it is incurred. Page 12
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.5 | Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell after making due allowance for obsolete and slow moving items. Cost is determined using the first in, first out costing method. Costs include all direct costs incurred in bringing the stocks to their present location and condition. Finished goods and work in progress are included at valuation, on a basis consistent with previous years. The carrying amount of stock sold is recognised as an expense in the period which the related revenue is recognised.
| 2.6 | 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.
| 2.7 | 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. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.8 | 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.
| 2.9 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Page 13
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Page 14
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
4. | Turnover
The whole of the turnover is attributable to the supply of manufactured turned parts. 21.23% of the company's turnover (2024 - 20.39%) is attributable to geographical markets outside the United Kingdom.
5. | Operating loss
| The operating loss is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 359,088 | 372,026
| Exchange differences | 4,733 | 8,766
| Defined contribution pension cost | 148,269 | 148,857
6. | Auditor's remuneration
| During the year, the Company obtained the following services from the Company's auditor:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Auditor's remuneration | 19,950 | 19,000
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 3,610,072 | 3,528,342
| Cost of defined contribution scheme | 148,269 | 148,857
|  | 3,758,341 | 3,677,199
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Manufacturing and administrative staff | 92 | 95
Page 15
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 218,198 | 217,684
|  | 218,198 | 217,684
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 18,261 | 25,477
|  | 18,261 | 25,477
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total current tax | - | -
| Deferred tax |  |
| Origination and reversal of timing differences | (43,698) | (211,917)
| Total deferred tax | (43,698) | (211,917)
| Tax on loss | (43,698) | (211,917)
Page 16
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loss on ordinary activities before tax | (213,223) | (559,567)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | (53,306) | (139,892)
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 41,838 | 2,285
| Capital allowances for year in excess of depreciation | (23,155) | (228,140)
| Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax | 1,035 | 255
| Unrelieved tax losses carried forward | 33,588 | 224,564
| Other differences leading to an increase (decrease) in the tax charge | (43,698) | (70,989)
| Total tax charge for the year | (43,698) | (211,917)
11. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends paid | - | 191,667
|  | - | 191,667
Page 17

|  | TENABLE SCREW COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
| 12. | Tangible fixed assets
|  | Freehold property | Long-term leasehold property | Plant and machinery | Motor vehicles | Office equipment and fixtures & fittings | Total
|  | £ | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |  |
| At 1 September 2024 | 1,311,585 | 1,353,511 | 6,000,993 | 595,998 | 160,845 | 9,422,932
| Additions | - | - | 202,050 | - | - | 202,050
| Disposals | - | - | - | (9,735) | - | (9,735)
| At 31 August 2025 | 1,311,585 | 1,353,511 | 6,203,043 | 586,263 | 160,845 | 9,615,247
| Depreciation |  |  |  |  |  |
| At 1 September 2024 | 73,451 | 362,154 | 4,617,652 | 371,858 | 152,701 | 5,577,816
| Charge for the year on owned assets | 10,607 | 17,513 | 273,069 | 55,863 | 2,036 | 359,088
| Disposals | - | - | - | (9,427) | - | (9,427)
| At 31 August 2025 | 84,058 | 379,667 | 4,890,721 | 418,294 | 154,737 | 5,927,477
| Net book value |  |  |  |  |  |
| At 31 August 2025 | 1,227,527 | 973,844 | 1,312,322 | 167,969 | 6,108 | 3,687,770
| At 31 August 2024 | 1,238,134 | 991,357 | 1,383,341 | 224,140 | 8,144 | 3,845,116
Page 18

TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12.Tangible fixed assets (continued)
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Freehold | 1,227,527 | 1,238,134
| Long-term leasehold | 973,844 | 991,357
|  | 2,201,371 | 2,229,491
13. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials | 249,325 | 332,196
| Work in progress | 112,500 | 102,000
|  | 361,825 | 434,196
14. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,519,105 | 1,486,387
| Other debtors | 78,329 | 121,797
| Prepayments and accrued income | 216,272 | 272,286
|  | 1,813,706 | 1,880,470
15. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,025,421 | 1,956,834
|  | 2,025,421 | 1,956,834
Page 19
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
16. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 760,363 | 813,168
| Taxation and social security | 235,737 | 203,279
| Other creditors | 198,827 | 98,918
| Accruals and deferred income | 180,158 | 274,391
|  | 1,375,085 | 1,389,756
17. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (43,698) | (255,615)
| Charged to profit or loss | 43,698 | 211,917
| At end of year | - | (43,698)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | - | (43,698)
|  | - | (43,698)
18. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 25,000 (2024 - 25,000) Ordinary shares of £1.00 each | 25,000 | 25,000
Page 20
TENABLE SCREW COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
19. | Reserves
Capital redemption reserve The capital redemption reserve represents the accumulative ordinary share capital repurchased and subsequently cancelled by the company. Profit and loss account The profit and loss account represents cumulative profits and losses.
20. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £149,344 (2024 - £148,857). Contributions totalling £29,537 (2024 - £25,399) were payable to the fund at the balance sheet date and are included in creditors.
21. | Related party transactions
| At the balance sheet date £63,690 (2024 - £63,690) was owing to Marlborough Precision Limited, a company controlled by the directors.
22. | Controlling party
Until April 2024 George and Brenda Schlaefli were the controlling parties. Sadly George Schlaefli passed away on the 14/05/2024 and since then the control of the company rests with the Executors of his Estate and Brenda Schlaefli.
Page 21