NPH Holdings (N.I.) Ltd iXBRL

Company Registration Number: NI668659

NPH Holdings (N.I.) Ltd

Reports and Consolidated Financial Statements

for the financial year ended 31 August 2025

NPH Holdings (N.I.) Ltd

DIRECTOR AND OTHER INFORMATION


Director	Nigel Hicklin


Company Registration Number	NI668659


Registered Office	Unit 2
	Channel Wharf
	21 Old Channel Road
	Belfast
	Antrim
	BT3 9DE
	Northern Ireland


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


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

NPH Holdings (N.I.) Ltd

STRATEGIC REPORT

for the financial year ended 31 August 2025

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

Principal Activities and business review

NPH HOLDINGS (N.I.) LTD (the “company”) is a holding company of a group of companies (the “group”), comprising Dontaur Engineering Limited, Aerospace Metal Finishers Limited and Aerospace Metal Finishers Ireland Limited.

The Group’s principal activity during the period was precision engineering.

The director considers the outcome for the period and period-end financial position to be satisfactory and to have been achieved in a challenging operating environment.

The group and company continues to invest in research and development.

Principal Risks and Uncertainties

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

Foreign Exchange Risk

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

Price Risk

The Group is exposed to commodity price risk as a result of its operations, which can affect its financial performance. The Group'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 Group'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 Group 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 Group 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 director considers gross profit margin, profit before tax and cash flow to be the main measures of financial performance. As at 31 August 2025, the Group and Company turnover in the period amounted to £20.011,067 and £1,005,348 respectively (2024: £15,619,063 and £922,099). The cash at bank for the Group and Company amounted to £7,534,268 and £2,529,661 respectively (2024: £4,627,962 and £3,554,308).

On behalf of the board



___________________________
Nigel Hicklin
Director

29 May 2026

NPH Holdings (N.I.) Ltd

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 is that of a holding company.

Results and Dividends

The profit for the financial year after providing for depreciation and taxation amounted to £3,116,691 (2024 - £3,278,786).

The director has paid an interim dividend amounting to £123,593 and he does not recommend payment of a final dividend.

Director

The director who served during the financial year is as follows:

Nigel Hicklin

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

Future Developments

The group and company plan to continue their present activities and invest in research and development activities in order to secure and enhance its position in the market.

Post-Balance Sheet Events

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

Political Contributions

The group 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 Director of NPH HOLDINGS (N.I.) LTD has reviewed the appropriateness of the going concern assumption and believes that the group and company has sufficient resources available to enable it to continue to meet their ongoing obligations for at least a period of 12 months from the date of approval of the financial statements. The group’s current financial performance and cash position, and forecasts to 31 August 2027 , show that the group and company continues to be cash generative. Accordingly, the Director believes that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

Research and Development

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

Engagement with suppliers, customers and others

The group 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 group engages with all its stakeholders throughout the period across a variety of mediums.

Employees

The director seeks to ensure that employees are kept informed as is practical about the group’s progress through regular team meeting and monthly briefings. The group 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 NPH Holdings (N.I.) Ltd

Report on the audit of the financial statements

Opinion

We have audited the group and parent company financial statements of NPH Holdings (N.I.) Ltd and its subsidiaries ('the group') for the financial year ended 31 August 2025 which comprise the Group Profit and Loss Account, the Group Balance Sheet, the Company Balance Sheet, the Group Statement of Changes in Equity, the Company Statement of Changes in Equity, the Group Statement of Cash Flows 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 group's and the parent company's affairs as at 31 August 2025 and of the group's 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 group 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 group's and the parent 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 by the parent company; or

■

the parent company 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 group'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 group 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

Chartered Accountants

Unit 2 Channel Wharf

21 Old Channel Road

Belfast

Co. Antrim

BT3 9DE

29 May 2026

NPH Holdings (N.I.) Ltd

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 consolidated 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 group and the parent 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 group and the parent 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 group and the parent 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.

NPH Holdings (N.I.) Ltd

CONSOLIDATED PROFIT AND LOSS ACCOUNT

for the financial year ended 31 August 2025

	2025	2024
Notes	£	£

Turnover	3	20,011,067	15,619,063

Cost of sales		(10,894,173)	(7,787,453)
		─────────	─────────
Gross profit		9,116,894	7,831,610

Administrative expenses		(5,359,517)	(4,235,173)
Other operating income		252,413	-
		─────────	─────────
Group operating profit	4	4,009,790	3,596,437

Exceptional items	5	-	65,000
		─────────	─────────
Profit before interest		4,009,790	3,661,437

Interest receivable and similar income	6	33,024	20,081
Interest payable and similar expenses	7	(7,392)	(5,028)
		─────────	─────────
Profit before taxation		4,035,422	3,676,490

Tax on profit	9	(918,731)	(397,704)
		─────────	─────────
Profit for the financial year		3,116,691	3,278,786
		─────────	─────────
Total comprehensive income		3,116,691	3,278,786
		═════════	═════════

NPH Holdings (N.I.) Ltd

Company Registration Number: NI668659

CONSOLIDATED BALANCE SHEET

as at 31 August 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

3,078,728

2,363,063

Investments

633,378

1,338

─────────

Fixed Assets

3,712,106

2,364,401

─────────

Current Assets

Stocks

2,270,245

2,253,313

Debtors

5,631,709

6,018,730

Cash and cash equivalents

7,534,268

4,627,962

─────────

15,436,222

12,900,005

─────────

Creditors: amounts falling due within one year

(3,292,720)

(2,676,385)

─────────

Net Current Assets

12,143,502

10,223,620

─────────

Total Assets less Current Liabilities

15,855,608

12,588,021

Creditors:

amounts falling due after more than one year

(91,178)

Provisions for liabilities

(473,150)

(289,839)

─────────

Net Assets

15,291,280

12,298,182

═════════

Capital and Reserves

Called up share capital

100,000

100,000

Other reserves including the fair value reserve

7,650

7,650

Retained earnings

15,183,630

12,190,532

─────────

Equity attributable to owners of the company

15,291,280

12,298,182

═════════

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



________________________________
Nigel Hicklin
Director

NPH Holdings (N.I.) Ltd

Company Number: NI668659

COMPANY BALANCE SHEET

as at 31 August 2025

	2025	2024
Notes	£	£

Fixed Assets

Tangible assets

2,003,444

1,376,156

Investments

732,040

100,000

─────────

2,735,484

1,476,156

─────────

Current Assets

Debtors

1,661,715

1,444,516

Cash and cash equivalents

2,529,661

3,554,308

─────────

4,191,376

4,998,824

─────────

Creditors: Amounts falling due within one year

(363,179)

(351,391)

─────────

Net Current Assets

3,828,197

4,647,433

─────────

Total Assets less Current Liabilities

6,563,681

6,123,589

Provisions for liabilities

(406,037)

(238,721)

─────────

Net Assets

6,157,644

5,884,868

═════════

Capital and Reserves

Called up share capital

100,000

100,000

Retained earnings

6,057,644

5,784,868

─────────

Shareholders' Funds

6,157,644

5,884,868

═════════

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



________________________________
Nigel Hicklin
Director

NPH Holdings (N.I.) Ltd

CONSOLIDATED 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	9,035,339	7,650	9,142,989
	─────────	─────────	─────────	─────────
Profit for the financial year	-	3,278,786	-	3,278,786
	─────────	─────────	─────────	─────────
Payment of dividends	-	(123,593)	-	(123,593)
	─────────	─────────	─────────	─────────
At 31 August 2024	100,000	12,190,532	7,650	12,298,182
	─────────	─────────	─────────	─────────
Profit for the financial year	-	3,116,691	-	3,116,691
	─────────	─────────	─────────	─────────
Payment of dividends	-	(123,593)	-	(123,593)
	─────────	─────────	─────────	─────────
At 31 August 2025	100,000	15,183,630	7,650	15,291,280
	═════════	═════════	═════════	═════════

NPH Holdings (N.I.) Ltd

COMPANY STATEMENT OF CHANGES IN EQUITY

as at 31 August 2025


	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 September 2023	100,000	5,376,835	5,476,835
	─────────	─────────	─────────
Profit for the financial year	-	531,626	531,626
	─────────	─────────	─────────
Payment of dividends	-	(123,593)	(123,593)
	─────────	─────────	─────────
At 31 August 2024	100,000	5,784,868	5,884,868
	─────────	─────────	─────────
Profit for the financial year	-	396,369	396,369
	─────────	─────────	─────────
Payment of dividends	-	(123,593)	(123,593)
	─────────	─────────	─────────
At 31 August 2025	100,000	6,057,644	6,157,644
	═════════	═════════	═════════

NPH Holdings (N.I.) Ltd

CONSOLIDATED STATEMENT OF CASH FLOWS

for the financial year ended 31 August 2025

	2025	2024
Notes	£	£

Cash flows from operating activities

Profit for the financial year

3,116,691

3,278,786

Adjustments for:

Exceptional items

(65,000)

Interest receivable and similar income

(33,024)

(20,081)

Interest payable and similar expenses

7,392

5,028

Tax on profit on ordinary activities

918,731

397,704

Depreciation

702,292

383,064

Profit/loss on disposal of tangible assets

(379)

33,315

Exceptional items

65,000

─────────

4,711,703

4,077,816

Movements in working capital:

Movement in stocks

(16,932)

(762,271)

Movement in debtors

268,709

(2,766,867)

Movement in creditors

(40,653)

902,247

─────────

Cash generated from operations

4,922,827

1,450,925

Interest paid

(7,392)

(5,028)

Tax paid

(170)

(184,051)

─────────

Net cash generated from operating activities

4,915,265

1,261,846

─────────

Cash flows from investing activities

Interest received

33,024

20,081

Payments to acquire tangible assets

(1,348,148)

(1,602,801)

Payments to acquire investments

(632,040)

Receipts from sales of tangible assets

21,749

112,999

─────────

Net cash used in investment activities

(1,925,415)

(1,469,721)

─────────

Cash flows from financing activities

Issue of shares classified as financial liabilities		-	(332,500)
Capital element of hire purchase contracts		40,049	(46,007)
Dividends paid		(123,593)	(123,593)
		─────────	─────────
Net cash used in financing activities		(83,544)	(502,100)
		─────────	─────────

Net increase/(decrease) in cash and cash equivalents		2,906,306	(709,975)
Cash and cash equivalents at beginning of financial year		4,627,962	5,337,937
		─────────	─────────
Cash and cash equivalents at end of financial year	16	7,534,268	4,627,962
		═════════	═════════

NPH Holdings (N.I.) Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2025

General Information

NPH Holdings (N.I.) Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI668659. The registered office of the company is Unit 2, Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE, Northern Ireland. 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 group'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.

Turnover

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 goods

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.

Rendering of services

Turnover 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 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.

Going Concern

The Director of NPH Holdings (N.I.) Ltd has reviewed the appropriateness of the going concern assumption and believes that the group and 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 group and company‘s current financial performance and cash position, and forecasts to 31 August 2027, show that the group and company continues to be cash generative. Accordingly, the Director believes that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

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:

Land and buildings freehold

4% Straight line

Long leasehold property

2% Straight line

Plant and Machinery

20% Reducing Balance

Fixtures, fittings and equipment

15% Straight line

Motor vehicles

25% Straight line

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.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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.

Basis of consolidation

The consolidated financial statements include the financial statements of the holding company and all its subsidiary companies made up to 31 August 2025.

Ordinary share capital

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

Exceptional item

Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.

Turnover

The turnover for the financial year is analysed as follows:

2025

2024

United Kingdom

19,522,287

15,180,899

Europe

17,589

62,934

Rest of the World

471,191

375,230

─────────

20,011,067

15,619,063

═════════

Turnover attributable to geographical markets outside the United Kingdom amounted to 2% for the financial year.


4.	Operating profit	2025	2024
		£	£
	Operating profit is stated after charging/(crediting):
	Depreciation of tangible assets	702,292	383,064
	(Profit)/loss on disposal of tangible assets	(379)	33,315
	Loss/(profit) on foreign currencies	172,518	(12,444)
	Auditor's remuneration
	- audit services	6,750	6,500
		═════════	═════════


5.	Exceptional items	2025	2024
		£	£

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


6.	Interest receivable and similar income	2025	2024
		£	£

	Bank interest	33,024	20,081
		═════════	═════════


7.	Interest payable and similar expenses	2025	2024
		£	£

	On bank loans and overdrafts	1,208	54
	Hire purchase interest	6,184	4,974
		─────────	─────────
		7,392	5,028
		═════════	═════════

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

Employee

═════════

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

2025

2024

Wages and salaries

4,391,351

3,633,586

Social security costs

517,711

385,350

Pension costs

301,344

219,785

─────────

5,210,406

4,238,721

═════════

Tax on profit

2025

2024

(a) Analysis of charge in the financial year

Current tax:

Corporation tax at 25.00% (2024 - 25.00%)

728,513

205,544

Under/over provision in prior financial year

6,907

─────────

Total current tax

735,420

205,544

─────────

Deferred tax:

Origination and reversal of timing differences

183,311

192,160

─────────

Total deferred tax

183,311

192,160

═════════

Tax on profit (Note 9 (b))

918,731

397,704

═════════

(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%

4,035,422

3,676,490

═════════

Profit before tax

multiplied by the standard rate of corporation tax

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

1,008,856

919,123

Effects of:

Expenses not deductible for tax purposes

(15,458)

(37,472)

Capital allowances for period in excess of depreciation

(183,924)

(435,410)

Utilisation of tax losses

(63,087)

Deferred tax

183,311

192,160

Dividends non taxable

(187,500)

Effects of foreign tax and marginal relief

(74,134)

Other difference

9,890

─────────

Total tax charge for the financial year (Note 9 (a))

918,731

397,704

═════════

10.

Profit attributable to members of the parent company

In accordance with section 408 of the Companies Act 2006 a separate Profit and Loss Account for the company has not been presented in these financial statements. The profit dealt with in the financial statements of the parent company was £396,369 (2024, £531,626).


11.	Dividends	2025	2024
		£	£
	Dividends on equity shares:

	Ordinary A - Interim paid	123,593	123,593
		═════════	═════════


12.	Tangible assets
	Group
		Land and	Long	Plant and	Fixtures,	Motor	Total
		buildings	leasehold	Machinery	fittings and	vehicles
		freehold	property		equipment
		£	£	£	£	£	£
	Cost
	At 1 September 2024	238,720	242,554	8,845,974	43,376	549,462	9,920,086
	Additions	19,938	-	1,137,100	10,950	271,338	1,439,326
	Disposals	-	-	-	-	(44,480)	(44,480)
		─────────	─────────	─────────	─────────	─────────	─────────
	At 31 August 2025	258,658	242,554	9,983,074	54,326	776,320	11,314,932
		─────────	─────────	─────────	─────────	─────────	─────────
	Depreciation
	At 1 September 2024	199,277	155,714	7,051,437	29,217	121,378	7,557,023
	Charge for the financial year	7,163	8,684	531,335	4,370	150,739	702,291
	On disposals	-	-	-	-	(23,110)	(23,110)
		─────────	─────────	─────────	─────────	─────────	─────────
	At 31 August 2025	206,440	164,398	7,582,772	33,587	249,007	8,236,204
		─────────	─────────	─────────	─────────	─────────	─────────
	Net book value
	At 31 August 2025	52,218	78,156	2,400,302	20,739	527,313	3,078,728
		═════════	═════════	═════════	═════════	═════════	═════════
	At 31 August 2024	39,443	86,840	1,794,537	14,159	428,084	2,363,063
		═════════	═════════	═════════	═════════	═════════	═════════


Company
	Plant and	Total
	Machinery

	£	£
Cost or Valuation
At 1 September 2024	3,482,146	3,482,146
Additions	1,062,590	1,062,590
	─────────	─────────
At 31 August 2025	4,544,736	4,544,736
	─────────	─────────
Depreciation
At 1 September 2024	2,105,990	2,105,990
Charge for the financial year	435,302	435,302
	─────────	─────────
At 31 August 2025	2,541,292	2,541,292
	─────────	─────────
Net book value
At 31 August 2025	2,003,444	2,003,444
	═════════	═════════
At 31 August 2024	1,376,156	1,376,156
	═════════	═════════


13.	Investments
	Group
		Listed	Other	Total
		investments	unlisted
			investments
	Investments	£	£	£
	Cost
	At 1 September 2024	1,338	-	1,338
	Additions	-	632,040	632,040
		─────────	─────────	─────────
	At 31 August 2025	1,338	632,040	633,378
		─────────	─────────	─────────
	Net book value
	At 31 August 2025	1,338	632,040	633,378
		═════════	═════════	═════════
	At 31 August 2024	1,338	-	1,338
		═════════	═════════	═════════


Company
	Subsidiary	Other	Total
	undertakings	unlisted
	shares	investments

Investments	£	£	£
Cost
At 1 September 2024	100,000	-	100,000
Additions	-	632,040	632,040
	─────────	─────────	─────────
At 31 August 2025	100,000	632,040	732,040
	─────────	─────────	─────────
Net book value
At 31 August 2025	100,000	632,040	732,040
	═════════	═════════	═════════
At 31 August 2024	100,000	-	100,000
	═════════	═════════	═════════

13.1.

Holdings in related undertakings

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

Country

Nature

Details

Proportion

held by

Name

incorporation and address of Registered Office

business

investment

company

Subsidiary undertaking

Dontaur Engineering Limited

Unit C1

Wakehurst Industrial Estate

Wakehurst Road

Ballymena

Antrim

BT42 3AZ

Machining

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

Group

Raw materials

261,606

356,670

Work in progress

680,805

801,282

─────────

942,411

1,157,952

Finished goods and goods for resale

1,327,834

1,095,361

─────────

2,270,245

2,253,313

═════════

The replacement cost of stock did not differ significantly from the figures shown.


15.	Debtors	2025	2024
		£	£

	Group
	Trade debtors	4,860,568	5,692,830
	Other debtors	379,967	127,554
	Taxation (Note 19)	-	118,312
	Prepayments and accrued income	391,174	80,034
		─────────	─────────
		5,631,709	6,018,730
		═════════	═════════


	2025	2024
	£	£
Company
Amounts owed by group undertakings	1,534,240	1,317,041
Other debtors	127,475	127,475
	─────────	─────────
	1,661,715	1,444,516
	═════════	═════════


16.	Cash and cash equivalents	2025	2024
		£	£

	Cash and bank balances	7,534,268	4,627,962
		═════════	═════════


17.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Group
	Net obligations under finance leases
	and hire purchase contracts	42,472	2,423
	Trade creditors	1,341,862	1,359,314
	Taxation (Note 19)	1,522,874	981,071
	Director's current account (Note 23)	63,447	23,929
	Other creditors	265,633	265,573
	Accruals	56,432	44,075
		─────────	─────────
		3,292,720	2,676,385
		═════════	═════════


	2025	2024
Amounts falling due within one year	£	£

Company
Trade creditors	77	38,862
Taxation social security (Note 19)	49,980	39,843
Director's current account (Note 23)	63,447	23,929
Other creditors	244,175	245,757
Accruals	5,500	3,000
	─────────	─────────
	363,179	351,391
	═════════	═════════


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

	Group
	Finance leases and hire purchase contracts	91,178	-
		═════════	═════════


	Net obligations under finance leases
	and hire purchase contracts
	Repayable within one year	42,472	2,423
	Repayable between one and five years	91,178	-
		─────────	─────────
		133,650	2,423
		═════════	═════════


19.	Taxation	2025	2024
		£	£
	Group

	Debtors:
	Corporation tax	-	118,312
		═════════	═════════
	Creditors:
	VAT	704,450	852,477
	Corporation tax	616,939	-
	PAYE / NI	201,485	128,594
		─────────	─────────
		1,522,874	981,071
		═════════	═════════


	2025	2024
	£	£
Company

Creditors:
VAT	49,980	39,843
	═════════	═════════

20.

Provisions for liabilities

Group

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At financial year start

289,839

289,839

97,679

Charged to profit and loss

183,311

183,311

192,160

─────────

At financial year end

473,150

289,839

═════════

Company

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At 1 September 2024

238,721

22,841

Charged to profit and loss

167,316

215,880

─────────

At 31 August 2025

406,037

238,721

═════════


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

	Allotted, called up and fully paid
	Ordinary A	70,064	£1.00 each	70,064	70,064
	Ordinary B	25,478	£1.00 each	25,478	25,478
	Ordinary C	4,458	£1.00 each	4,458	4,458

				─────────	─────────
				100,000	100,000
				═════════	═════════


22.	Capital commitments	2025	2024
		£	£

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

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

Company

The company had no material capital commitments at the financial year-ended 31 August 2025.


23.	Director's remuneration and transactions	2025	2024
		£	£

	Remuneration	18,915	18,916
		═════════	═════════


The following amounts are repayable to the director:
	2025	2024
	£	£

Nigel Hicklin	63,447	23,929
	═════════	═════════

24.

Related party transactions

Advantage has been taken of the exemption under FRS 102 Section 33.1A not to disclose transactions between wholly owned members of the same group.

Key management is considered to be the director.

The ultimate controlling party is Mr N Hicklin.

25.

Post-Balance Sheet Events

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


26	Reconciliation of Net Cash Flow to Movement in Net Debt
		Opening	Cash	Other	Closing
		balance	flows	changes	balance

		£	£	£	£

	Finance lease and hire purchase	(2,423)	(40,049)	(91,178)	(133,650)
		─────────	─────────	─────────	─────────
	Total liabilities from financing activities	(2,423)	(40,049)	(91,178)	(133,650)
		═════════	═════════	═════════	─────────
	Total Cash and cash equivalents (Note 16)				7,534,268
					─────────
	Total net cash				7,400,618
					═════════


27.	Auditor's remuneration	2025	2024
		£	£

	Fees payable to the company's auditor	2,700	2,700
		═════════	═════════