Dontaur Engineering Limited iXBRL

Company Registration Number: NI012135

Dontaur Engineering Limited

Reports and Financial Statements

for the financial year ended 31 August 2025

Dontaur Engineering Limited

DIRECTOR AND OTHER INFORMATION


Directors	Nigel Hicklin
	Brenda Hicklin (Resigned 7 March 2026)


Company Secretary	Tracey Hicklin


Company Registration Number	NI012135


Registered Office and Business Address	Unit C1
	Wakehurst Industrial Estate
	Wakehurst Road
	Ballymena
	Antrim
	BT42 3AZ
	Northern Ireland


Independent Auditors	PGR Accountants Limited
	Unit 2 Channel Wharf
	21 Old Channel Road
	Belfast
	Co. Antrim
	BT3 9DE
	Northern Ireland


Bankers	Danske Bank
	Northern Business Centre
	1-2 Broadway
	Ballymena
	Antrim
	BT43 7AA
	Northern Ireland

Dontaur Engineering Limited

STRATEGIC REPORT

for the financial year ended 31 August 2025

The director presents his strategic report on the company for the financial year ended 31 August 2025.

Business Review

The Principal activity of the company during the year was precision engineering.

The directors consider the outcome for the year and year end financial position to be satisfactory and to have been achieved in a challenging operating environment.

The company continues to invest in research and development.

Principal Risks and Uncertainties

The Company's operations expose it to a variety of financial risks that include the effects of changes in commodity prices and foreign exchange risk. The Company has policies in place to limit the adverse effects on the financial performance of the Company.

Foreign Exchange Risk

The director considers the principal risk of the business to be foreign exchange as the Company deals with customers and suppliers in USD. The Company mitigates this risk by having USD bank accounts, monitoring exchange rate fluctuations and enter into forward exchange contracts as required.

Price Risk

The Company is exposed to commodity price risk as a result of its operations, which can affect its financial performance. The Company's policy is to draw on its extensive market knowledge to mitigate the impact of price changes wherever possible, and the director will revisit the appropriateness of this policy should the Company's operations change in size or nature.

Credit Risk

Credit risk arises from cash and cash equivalents with banks and financial institutions, as well as credit exposure to customers. The Company has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is subject to a limit, which is reassessed regularly. The financial position of banks utilised is regularly assessed by the director.

The Company operates primarily in the aerospace sector and the rate of orders from airlines continues to build. The director continues to monitor the position closely.

Financial Key Performance Indicators

The directors consider gross profit margin, profit before tax and cash flow as the main measures of financial performance. There has been an increase in turnover in year to £14,536,241 from £10,319,908 in 2024. Gross margin has increased to 46.5% from 39.3% in 2024. The profit before tax amounted to £2,760,035 (2024: profit of £1,479,175 ). Cash at bank as at 31 August 2025 amounted to £3,581,298 (2024: £668,075).

On behalf of the board



___________________________
Nigel Hicklin
Director

29 May 2026

Dontaur Engineering Limited

DIRECTOR'S REPORT

for the financial year ended 31 August 2025

The director presents his report and the audited financial statements for the financial year ended 31 August 2025.

Principal Activity

The principal activity of the company during the year was precision engineering.

Results and Dividends

The profit for the financial year after providing for depreciation and taxation amounted to £2,107,053 (2024 - £1,516,375).

The director does not recommend payment of a dividend.

Directors

The directors who served during the financial year are as follows:

Nigel Hicklin

Brenda Hicklin (Resigned 7 March 2026)

There were no changes in shareholdings between 31 August 2025 and the date of signing the financial statements.

Future Developments

The company plans to continue its present activities and remain at profitable trading levels.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the director must not approve the financial statements unless he is 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 director is required to:

■select suitable accounting policies and apply them consistently;

■make judgements 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 director is 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 enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Disclosure of Information to Auditor

Each person who is a director at the date of approval of this report confirms that:

In so far as the director is aware:

■there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and

■the director has taken all the steps that he ought to have taken to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Auditors

The auditors, PGR Accountants Limited have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

Going Concern

The Directors of Dontaur Engineering Limited have reviewed the appropriateness of the going concern assumption and believe that the company has sufficient resources available to enable it to continue to meet its ongoing obligations for at least a period of 12 months from the date of approval of the financial statements. The company‘s financial performance and forecasts to 31 August 2027, after considering plausible downside scenarios, show that the company continues to be cash generative. Accordingly, the Directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

Research and Development

The company is committed to research and development activities in order to secure and enhance its position in the market. As such, the company plans to continue investing in research and development going forward.

Engagement with suppliers,customers and others

The company recognises that engagement with key stakeholders, including employees, customers, suppliers, lenders and community is vital to achieving the long-term success of the business. The company engages with all its stakeholders throughout the year across a variety of mediums.

Employees

The director seeks to ensure that employees are kept informed as is practical about the company’s progress through regular team meeting and monthly briefings. The company gives full consideration to applications for employment by disabled persons.

On behalf of the board

___________________________

Nigel Hicklin

Director

29 May 2026

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Dontaur Engineering Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Dontaur Engineering Limited ('the company') for the financial year ended 31 August 2025 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 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 profit for the financial 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 UK, including the FRC'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 director's 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 the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director 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 director is 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.

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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

■

the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

■

adequate accounting records have not been kept; or

■

the financial statements are not in agreement with the accounting records and returns; or

■

certain disclosures of director's remuneration specified by law are not made; or

■

we have not received all the information and explanations we require for our audit.

Responsibilities of director for the financial statements

The director is 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 they 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 director is 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 director either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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:

• We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006) and the relevant direct and indirect tax compliance regulation in the United Kingdom. In addition, the company has to comply with laws and regulations relating to its operations, including health and safety and GDPR.

• We understood how the company is complying with those frameworks by making inquiries of management to understand how the company maintains and communicates its policies and procedures in these areas. We corroborated our inquiries through reading correspondence with relevant authorities.

• We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur by considering the risk of management override and by assuming revenue recognition to be a fraud risk. Our testing of revenue included agreeing specific transactions to supporting invoices, customer orders, and receipt to bank statements. Further we performed journal entry testing with a focus on manual revenue journals.

• Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved testing journals identified by specific risk criteria. We also made inquiries with management of the company regarding compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

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.

__________________________________

Jonathan McNeill (Senior Statutory Auditor)

for and on behalf of

PGR ACCOUNTANTS LIMITED

Unit 2 Channel Wharf

21 Old Channel Road

Belfast

Co. Antrim

BT3 9DE

Northern Ireland

29 May 2026

Dontaur Engineering Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

■

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

■

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

■

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

■

Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

■

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Dontaur Engineering Limited

PROFIT AND LOSS ACCOUNT

for the financial year ended 31 August 2025

	2025	2024
Notes	£	£

Turnover	4	14,536,241	10,319,908

Cost of sales		(7,774,020)	(6,259,240)
		─────────	─────────
Gross profit		6,762,221	4,060,668

Administrative expenses		(4,270,608)	(3,407,292)
Other operating income		249,038	-
		─────────	─────────
Operating profit	5	2,740,651	653,376

Exceptional items	6	-	65,000
		─────────	─────────
Profit before interest		2,740,651	718,376

Investment income	7	-	750,000
Interest receivable and similar income	8	25,579	12,600
Interest payable and similar expenses	9	(6,195)	(1,801)
		─────────	─────────
Profit before taxation		2,760,035	1,479,175

Tax on profit	11	(652,982)	37,200
		─────────	─────────
Profit for the financial year		2,107,053	1,516,375
		─────────	─────────
Total comprehensive income		2,107,053	1,516,375
		═════════	═════════

Dontaur Engineering Limited

Company Registration Number: NI012135

BALANCE SHEET

as at 31 August 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

808,428

718,298

Investments

11,417

11,417

─────────

Fixed Assets

819,845

729,715

─────────

Current Assets

Stocks

1,706,906

1,751,193

Debtors

4,379,191

4,120,367

Cash and cash equivalents

3,581,298

668,075

─────────

9,667,395

6,539,635

─────────

Creditors: amounts falling due within one year

(4,350,138)

(3,331,692)

─────────

Net Current Assets

5,317,257

3,207,943

─────────

Total Assets less Current Liabilities

6,137,102

3,937,658

Creditors:

amounts falling due after more than one year

(73,978)

Provisions for liabilities

(56,051)

(37,638)

─────────

Net Assets

6,007,073

3,900,020

═════════

Capital and Reserves

Called up share capital

100,000

100,000

Other reserves including the fair value reserve

7,650

7,650

Retained earnings

5,899,423

3,792,370

─────────

Equity attributable to owners of the company

6,007,073

3,900,020

═════════

Approved by the Director and authorised for issue on 29 May 2026



________________________________
Nigel Hicklin
Director

Dontaur Engineering Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 August 2025

	Called up	Retained	Capital	Total
	share	earnings	redemption
	capital		reserve
	£	£	£	£

At 1 September 2023	100,000	2,275,995	7,650	2,383,645
	─────────	─────────	─────────	─────────
Profit for the financial year	-	1,516,375	-	1,516,375
	─────────	─────────	─────────	─────────
At 31 August 2024	100,000	3,792,370	7,650	3,900,020
	─────────	─────────	─────────	─────────
Profit for the financial year	-	2,107,053	-	2,107,053
	─────────	─────────	─────────	─────────
At 31 August 2025	100,000	5,899,423	7,650	6,007,073
	═════════	═════════	═════════	═════════

Dontaur Engineering Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2025

General Information

Dontaur Engineering Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI012135. The registered office of the company is Unit C1, Wakehurst Industrial Estate, Wakehurst Road, Ballymena, Antrim, BT42 3AZ, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 August 2025 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Cash flow statement

The company has availed of the exemption in FRS 102 from the requirement to prepare a Statement of Cash Flows because it is a subsidiary undertaking for which the consolidated financial statements are publicly available.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of precision components

Turnover from the sale of goods is recognised when all of the following criteria 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 turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred in respect of the transaction can be measured reliably.

Going Concern

Research and development

Research expenditure is written off to the Statement of comprehensive income in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Debtors recoverability

Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience, and the aging profile of debtors have been considered. See note 15 for the net carrying amount of debtors.

Stock provision

Stock represents raw materials, work in progress and finished goods and is measured at the lower of cost and net realisable value. Net realisable value is estimated as the selling prices in ordinary course of business. less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on current trading experience. See note 14 for the net carrying amount of stock.

Research and Development

Estimates are made in respect of research and development in arriving at the corporation tax liability. In assessing the level of research and development, the directors consider the ongoing R&D projects within the company, the time spent by specific individuals working on those R&D projects, and the attributable salary costs involved.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Leasehold Improvements

15% reducing balance

Plant and Machinery

20% reducing balance

Motor Vehicles

25% reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing and hire purchases

Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at 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 where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company‘s taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Financial Instruments

Basic financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets held as debt instruments are measured at amortised cost. Amortised cost is the amount initially recognised, adjusted for the cumulative amortisation using the effective interest rate method of any difference between the initial amount and that maturity amount, less any reduction for impairment or collectability.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Group Company Exemptions Claimed

The company is exempt from the requirement to prepare consolidated financial statements under section 400(1) of the Companies Act 2006, as it is a subsidiary undertaking of NPH Holdings (N.I.) Ltd, which prepares publicly available consolidated financial statements including the company and its subsidiary undertakings.

Turnover

The turnover for the financial year is analysed as follows:

2025

2024

United Kingdom

14,047,461

9,881,744

Europe

17,589

62,934

Rest of the World

471,191

375,230

─────────

14,536,241

10,319,908

═════════

The whole of the turnover is attributable to the principal activities of the business.

Turnover attributable to geographical markets outside the United Kingdom amounted to 3% for the financial year.


5.	Operating profit	2025	2024
		£	£
	Operating profit is stated after charging:
	Depreciation of tangible assets	217,406	174,119
	(Profit)/loss on disposal of tangible assets	-	33,315
	Loss on foreign currencies	202,861	31,454
		═════════	═════════


6.	Exceptional items	2025	2024
		£	£

	Tax Settlement	-	65,000
		═════════	═════════


7.	Income from investments	2025	2024
		£	£

	Investment income	-	750,000
		═════════	═════════


8.	Interest receivable and similar income	2025	2024
		£	£

	Bank interest	25,579	12,600
		═════════	═════════


9.	Interest payable and similar expenses	2025	2024
		£	£

	Other interest payable	11	39
	Hire purchase interest	6,184	1,762
		─────────	─────────
		6,195	1,801
		═════════	═════════

10.

Employees and remuneration

Number of employees

The average number of persons employed (including executive director) during the financial year was as follows:

2025

2024

Number

Number

Administrative

Production

─────────

═════════

The staff costs (inclusive of director's salaries) comprise:

2025

2024

Wages and salaries

2,609,412

2,171,475

Social security costs

318,971

241,250

Pension costs

196,539

138,329

─────────

3,124,922

2,551,054

═════════

11.

Tax on profit

2025

2024

(a) Analysis of charge in the financial year

Current tax:

Corporation tax at 25.00% (2024 - 25.00%)

627,662

Under/over provision in prior financial year

6,907

─────────

Total current tax

634,569

─────────

Deferred tax:

Origination and reversal of timing differences

18,413

(37,200)

─────────

Total deferred tax

18,413

(37,200)

═════════

Tax on profit (Note 11 (b))

652,982

(37,200)

═════════

(b) Factors affecting tax charge for the financial year

The tax assessed for the financial year differs from the standard rate of corporation tax in the United Kingdom 25.00% (2024 - 25.00%). The differences are explained below:

2025

2024

Profit taxable at 25.00%

2,760,035

1,479,175

═════════

Profit before tax

multiplied by the standard rate of corporation tax

in the United Kingdom at 25.00% (2024 - 25.00%)

690,009

369,794

Effects of:

Expenses not deductible for tax purposes

(6,531)

(6,899)

Capital allowances for period in excess of depreciation

(22,714)

25,523

Deferred tax

18,413

(37,200)

Research and development tax relief

(209,608)

Franked investment income

(187,500)

Group relief surrendered

(26,195)

8,690

─────────

Total tax charge for the financial year (Note 11 (a))

652,982

(37,200)

═════════


12.	Tangible assets
		Leasehold	Plant and	Motor	Total
		Improvements	Machinery	Vehicles

		£	£	£	£
	Cost
	At 1 September 2024	238,720	3,505,966	504,982	4,249,668
	Additions	19,938	74,510	213,088	307,536
		─────────	─────────	─────────	─────────
	At 31 August 2025	258,658	3,580,476	718,070	4,557,204
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 September 2024	199,277	3,233,826	98,267	3,531,370
	Charge for the financial year	7,163	66,785	143,458	217,406
		─────────	─────────	─────────	─────────
	At 31 August 2025	206,440	3,300,611	241,725	3,748,776
		─────────	─────────	─────────	─────────
	Net book value
	At 31 August 2025	52,218	279,865	476,345	808,428
		═════════	═════════	═════════	═════════
	At 31 August 2024	39,443	272,140	406,715	718,298
		═════════	═════════	═════════	═════════

12.1.

Tangible assets continued

Included above are assets held under finance leases or hire purchase contracts as follows:

2025

2024

Net

Depreciation

Net

Depreciation

book value

charge

book value

charge

Motor Vehicles

152,195

40,051

═════════


13.	Investments
		Subsidiary	Listed	Total
		undertakings	investments
		shares

	Investments	£	£	£
	Cost

	At 31 August 2025	10,079	1,338	11,417
		─────────	─────────	─────────
	Net book value
	At 31 August 2025	10,079	1,338	11,417
		═════════	═════════	═════════
	At 31 August 2024	10,079	1,338	11,417
		═════════	═════════	═════════

13.1.

Holdings in related undertakings

The company holds 20% or more of the share capital of the following companies:

Country

Nature

Details

Proportion

held by

Name

incorporation and address of Registered Office

business

investment

company

Subsidiary undertaking

Aerospace Metal Finishers Limited

Unit 3

11 Paradise Avenue

Ballymena

BT42 3AE

Metal treatment, coating and finishing

Ordinary

100

Aerospace Metal Finishers Ireland Limited

Unit 3

11 Paradise Avenue

Ballymena

BT42 3AE

Metal treatment, coating and finishing

Ordinary

100

In the opinion of the director, the value to the company of the unlisted investments is not less than the book amount shown above.


14.	Stocks	2025	2024
		£	£

	Raw materials	132,563	255,635
	Work in progress	246,509	400,197
		─────────	─────────
		379,072	655,832
	Finished goods and goods for resale	1,327,834	1,095,361
		─────────	─────────
		1,706,906	1,751,193
		═════════	═════════


15.	Debtors	2025	2024
		£	£

	Trade debtors	4,032,838	3,810,339
	Taxation (Note 18)	-	250,403
	Prepayments and accrued income	346,353	59,625
		─────────	─────────
		4,379,191	4,120,367
		═════════	═════════

16.

Creditors

2025

2024

Amounts falling due within one year

Net obligations under finance leases

and hire purchase contracts

59,672

Trade creditors

1,045,094

1,047,449

Amounts owed to group undertakings

2,168,666

1,876,393

Taxation (Note 18)

1,046,410

378,278

Other creditors

12,595

11,839

Accruals

17,701

17,733

─────────

4,350,138

3,331,692

═════════

Security on the bank overdraft is provided by way of floating charge over the assets of the company.


17.	Creditors	2025	2024
	Amounts falling due after more than one year	£	£

	Finance leases and hire purchase contracts	73,978	-
		═════════	═════════


	Net obligations under finance leases
	and hire purchase contracts
	Repayable within one year	59,672	-
	Repayable between one and five years	73,978	-
		─────────	─────────
		133,650	-
		═════════	═════════


18.	Taxation	2025	2024
		£	£

	Debtors:
	Corporation tax	-	250,403
		═════════	═════════
	Creditors:
	VAT	508,976	286,024
	Corporation tax	378,624	-
	PAYE / NI	158,810	92,254
		─────────	─────────
		1,046,410	378,278
		═════════	═════════

19.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Other

Total

Total

differences

2025

2024

At financial year start

37,638

37,638

74,838

Charged to profit and loss

18,413

18,413

(37,200)

─────────

At financial year end

56,051

37,638

═════════


20.	Share capital			2025	2024
				£	£
	Description	Number of shares	Value of units

	Allotted, called up and fully paid
	Ordinary	100,000	£1.00 each	100,000	100,000

				═════════	═════════


21.	Capital commitments	2025	2024
		£	£

	Details of capital commitments at the accounting date are as follows:

	Contracted for but not provided in the financial statements	292,143	-
		═════════	═════════


22.	Director's remuneration	2025	2024
		£	£

	Remuneration	11,916	11,916
		═════════	═════════

23.

Related party transactions

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.

The company is a wholly owned subsidiary of NPH Holdings (N.I.) Ltd, a company registered in Northern Ireland. NPH Holdings (N.I.) Ltd is the parent entity of the group of which the company is a member and for which consolidated financial statements are prepared. Copies of the group financial statements can be obtained from Companies House.

24.

Parent company

The company regards NPH Holdings (N.I.) Ltd as its parent company.

25.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.


26.	Commitments under operating leases

	At 31 August 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods

		2025	2024
		£	£

	Land and Buildings	48,000	48,000
		═════════	═════════


27.	Auditor's remuneration	2025	2024
		£	£

	Fees Payable to the Company Auditor	10,500	10,000
		═════════	═════════