Neville Precision Engineering Limited 05239797 false 2025-04-01 2026-03-31 2026-03-31 The principal activity of the company is complete solutions for the supply of long length CNC machined aluminium extrusions and aluminium profiles, primarily for the automotive and railway industries. Digita Accounts Production Advanced 6.30.9574.0 true true true 05239797 2025-04-01 2026-03-31 05239797 2026-03-31 05239797 bus:OrdinaryShareClass1 2026-03-31 05239797 core:CurrentFinancialInstruments 2026-03-31 05239797 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 05239797 core:Non-currentFinancialInstruments core:AfterOneYear 2026-03-31 05239797 core:LandBuildings core:LongLeaseholdAssets 2026-03-31 05239797 core:MotorVehicles 2026-03-31 05239797 core:OfficeEquipment 2026-03-31 05239797 core:PlantMachinery 2026-03-31 05239797 bus:SmallEntities 2025-04-01 2026-03-31 05239797 bus:Audited 2025-04-01 2026-03-31 05239797 bus:FilletedAccounts 2025-04-01 2026-03-31 05239797 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 05239797 bus:RegisteredOffice 2025-04-01 2026-03-31 05239797 bus:Director4 2025-04-01 2026-03-31 05239797 bus:Director5 2025-04-01 2026-03-31 05239797 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 05239797 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 05239797 core:ComputerEquipment 2025-04-01 2026-03-31 05239797 core:LandBuildings core:LongLeaseholdAssets 2025-04-01 2026-03-31 05239797 core:LeaseholdImprovements 2025-04-01 2026-03-31 05239797 core:MotorVehicles 2025-04-01 2026-03-31 05239797 core:OfficeEquipment 2025-04-01 2026-03-31 05239797 core:PlantMachinery 2025-04-01 2026-03-31 05239797 1 2025-04-01 2026-03-31 05239797 countries:England 2025-04-01 2026-03-31 05239797 2025-03-31 05239797 core:LandBuildings core:LongLeaseholdAssets 2025-03-31 05239797 core:MotorVehicles 2025-03-31 05239797 core:OfficeEquipment 2025-03-31 05239797 core:PlantMachinery 2025-03-31 05239797 2024-04-01 2025-03-31 05239797 2025-03-31 05239797 bus:OrdinaryShareClass1 2025-03-31 05239797 core:CurrentFinancialInstruments 2025-03-31 05239797 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 05239797 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 05239797 core:LandBuildings core:LongLeaseholdAssets 2025-03-31 05239797 core:MotorVehicles 2025-03-31 05239797 core:OfficeEquipment 2025-03-31 05239797 core:PlantMachinery 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05239797

Neville Precision Engineering Limited
Filleted Financial Statements
for the Year Ended 31 March 2026

Neville Precision Engineering Limited

(Registration number: 05239797)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 347,653 | 397,792
Current assets |  |  |
Stocks | 5 | 308,562 | 348,853
Debtors | 6 | 1,021,702 | 827,015
Cash at bank and in hand |  | 314,798 | 485,222
|  | 1,645,062 | 1,661,090
Creditors: Amounts falling due within one year | 7 | (440,393) | (612,100)
Net current assets |  | 1,204,669 | 1,048,990
Total assets less current liabilities |  | 1,552,322 | 1,446,782
Creditors: Amounts falling due after more than one year | 7 | (62,052) | (100,323)
Provisions for liabilities |  | (85,734) | (97,324)
Net assets |  | 1,404,536 | 1,249,135
Capital and reserves |  |  |
Called up share capital | 8 | 2 | 2
Retained earnings |  | 1,404,534 | 1,249,133
Shareholders' funds |  | 1,404,536 | 1,249,135

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 June 2026 and signed on its behalf by:

......................................... Mr TJ Franklin Director | ......................................... Mr P Thurston Director |

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Science Park
Mammoth Drive Stafford Road
Wolverhampton
West Midlands
WV10 9TF

The principal place of business is:
Units 1 & 2
Plymouth Avenue
Brookhill Ind Estate
Pinxton
Nottinghamshire
NG16 6RA

These financial statements were authorised for issue by the Board on 23 June 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17 (d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b)and 12.29A;
- the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirement of paragraph 33.7.

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Name of parent of group

These financial statements are consolidated in the financial statements of Sherwood Stainless and Aluminium Ltd.

The financial statements of Sherwood Stainless and Aluminium Ltd may be obtained from Companies House
Crown Way
Cardiff
CF14 3UZ.

Going concern

The financial statements have been prepared on a going concern basis. The directors believe that the company is experiencing strong profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Audit report

The Independent Auditor's Report was unqualified . The name of the Senior Statutory Auditor who signed the audit report on 23 June 2026 was Mark Jordan FCA, who signed for and on behalf of Jordan & Company

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
The company has transferred to the buyer the significant risks and rewards of ownership of the goods;
The company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold, and;
Specific criteria have been met for each of the company's activities.
Specifically, revenue from the sale of goods is recognised when the goods are delivered and legal title has passed.

Foreign currency transactions and balances

The financial statements are presented in Sterling, which is also the functional currency of the company. Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occured. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible fixed assets held for the company's own use are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Assets held under finance leases are depreciated in the same way as owned assets.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% reducing balance basis
Office equipment | 20% reducing balance basis
Computer equipment | 3 years straight line basis
Leasehold improvements | apportioned over 15 year lease on a straight line basis
Motor vehicles | 25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are capitalised and tangible fixed assets and depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation net of the finance charge allocated to future periods.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2025 - 13).

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

4 | Tangible assets

| Long leasehold land and buildings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £
Cost or valuation
At 1 April 2025 | 77,359 | 1,350,262 | 69,565 | 108,413
Additions | - | 43,882 | - | -
Disposals | - | - | (8,372) | -
At 31 March 2026 | 77,359 | 1,394,144 | 61,193 | 108,413
Depreciation
At 1 April 2025 | 67,141 | 1,014,898 | 62,933 | 62,836
Charge for the year | 5,157 | 75,847 | 1,325 | 11,395
Eliminated on disposal | - | - | (8,076) | -
At 31 March 2026 | 72,298 | 1,090,745 | 56,182 | 74,231
Carrying amount
At 31 March 2026 | 5,061 | 303,399 | 5,011 | 34,182
At 31 March 2025 | 10,219 | 335,364 | 6,632 | 45,577

| Total £
Cost or valuation
At 1 April 2025 | 1,605,599
Additions | 43,882
Disposals | (8,372)
At 31 March 2026 | 1,641,109
Depreciation
At 1 April 2025 | 1,207,808
Charge for the year | 93,724
Eliminated on disposal | (8,076)
At 31 March 2026 | 1,293,456
Carrying amount
At 31 March 2026 | 347,653
At 31 March 2025 | 397,792

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Included within the net book value of land and buildings above is £5,062 (2025 - £10,219) in respect of long leasehold land and buildings.

5 | Stocks

| 2026 £ | 2025 £
Work in progress | 22,389 | 35,291
Other inventories | 286,173 | 313,562
| 308,562 | 348,853

6 | Debtors

Current | Note | 2026 £ | 2025 £
Trade debtors |  | 465,881 | 472,348
Amounts owed by related parties |  | 550,000 | 350,000
Prepayments |  | 5,821 | 4,667
|  | 1,021,702 | 827,015

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Loans and borrowings |  | 36,785 | 36,785
Trade creditors |  | 173,187 | 191,155
Taxation and social security |  | 165,231 | 326,736
Accruals and deferred income |  | 57,711 | 52,605
Other creditors |  | 7,479 | 4,819
|  | 440,393 | 612,100

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings |  | 52,112 | 88,898
Deferred income |  | 9,940 | 11,425
|  | 62,052 | 100,323

Neville Precision Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

8 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

9 | Parent and ultimate parent undertaking

The ultimate parent is Sherwood Stainless and Aluminium Ltd, incorporated in England.