Global Precision Asset Holdings Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

Global Precision Asset Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11550790 . The registered office is Unit 3, River View, Haworth, Keighley, BD22 8SB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern asumption is appropriate the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on Straight line
Plant & Machinery	10% on Reducing balance
Motor Vehicles	25% on Reducing balance
Fixtures & Fittings	15% on Reducing balance
Computer Equipment	33% on Straight line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Global Precision Asset Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Government Grant

Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 November 2024	1,331,700	872,101	15,150	138,850
Additions	3,270	8,093	-	-
Disposals	-	(13,799 )	-	-

As at 31 October 2025	1,334,970	866,395	15,150	138,850

Depreciation
As at 1 November 2024	107,651	242,402	6,979	43,440
Provided during the period	26,645	62,563	2,043	14,312
Disposals	-	(6,316 )	-	-

As at 31 October 2025	134,296	298,649	9,022	57,752

Net Book Value
As at 31 October 2025	1,200,674	567,746	6,128	81,098

As at 1 November 2024	1,224,049	629,699	8,171	95,410


	Computer Equipment	Total
	£	£
Cost
As at 1 November 2024	10,820	2,368,621
Additions	-	11,363
Disposals	(3,172 )	(16,971 )

As at 31 October 2025	7,648	2,363,013

...CONTINUED

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Global Precision Asset Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

Depreciation
As at 1 November 2024	10,820	411,292
Provided during the period	-	105,563
Disposals	(3,172 )	(9,488 )

As at 31 October 2025	7,648	507,367

Net Book Value
As at 31 October 2025	-	1,855,646

As at 1 November 2024	-	1,957,329

5. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by group undertakings	2,000	-
Other debtors	-	830

	2,000	830

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,446	56,515
Bank loans and overdrafts	47,175	46,039
Amounts owed to group undertakings	1,141,001	1,143,426
Other creditors	3,487	3,488
Taxation and social security	23,735	3,168

	1,228,844	1,252,636

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	14,137
Bank loans	481,584	520,992
Other creditors	15,069	18,546

	496,653	553,675

8. Secured Creditors

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,446	70,755
Bank loans and overdrafts	528,759	567,031

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Global Precision Asset Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	13,446	56,515
Later than one year and not later than five years	-	14,137

	13,446	70,652

	13,446	70,652

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Related Party Transactions

Creditors include the following amounts due to group companies:

Global Precision Holdings Ltd : £1,122,049 (2024: £1,122,049)

Global Precision Ltd : £18,952 (2024: £21,376)

Debtors include the following amounts due to group companies:

Global Precision UK Ltd : £2,000 (2024: £nil)

12. Ultimate Controlling Party

The company's ultimate controlling party is Global Precision Holdings Ltd by virtue of his ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,855,646		1,957,329

			1,855,646		1,957,329
CURRENT ASSETS
Debtors	5	2,000		830
Cash at bank and in hand		22,666		18,464

		24,666		19,294
Creditors: Amounts Falling Due Within One Year	6	(1,228,844 )		(1,252,636 )

NET CURRENT ASSETS (LIABILITIES)			(1,204,178 )		(1,233,342 )

TOTAL ASSETS LESS CURRENT LIABILITIES			651,468		723,987

Creditors: Amounts Falling Due After More Than One Year	7		(496,653 )		(553,675 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(129,524 )		(105,406 )

NET ASSETS			25,291		64,906

CAPITAL AND RESERVES
Called up share capital	10		100		100
Income Statement			25,191		64,806

SHAREHOLDERS' FUNDS			25,291		64,906