Company Registration No. 02929703 (England and Wales)
A & G Precision And Sons Limited
Annual Report and Financial Statements
For the Year Ended
28 February 2026
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
COMPANY INFORMATION
Directors
A Pinder
J Pinder
S Pinder
M Pinder
J Pinder
W Richardson
N L Halverson
Secretary
J Pinder
Company number
02929703
Registered office
Floor 1, Capital House
8 Pittman Court, Pittman Way
Fulwood
Preston
Lancashire
United Kingdom
PR2 9ZG
Auditor
Azets Audit Services
Floor 1, Capital House
8 Pittman Court, Pittman Way
Fulwood
Preston
Lancashire
United Kingdom
PR2 9ZG
Bankers
NatWest - Preston
35 Fishergate
Preston
Lancashire
United Kingdom
PR1 2AD
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 25
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 1 -

The directors present the strategic report for the year ended 28 February 2026.

Review of the business

The principal activity of the company continued to be that of providing manufacturing solutions to a wide range of markets.

During the year the company achieved turnover of £8,464,107 (2025: £7,453,327) and made a profit before tax of £1,837,349 (20 25: £1,171,077).

The Balance Sheet shows a strong net current asset position of £5,373,183 (2025: £5,267,960) at the year end. Capital expenditure amounted to £525,294 (2025: £465,889) in the year and mainly related to plant and machinery.

The directors are pleased with the overall results and credit must be given to all employees for their efforts.

Position at the end of the year

The company has a net current assets ratio of 4.75 compared to 6.22 in the prior year.

Key financial performance indicators

The directors regard the key financial indicators for the company as those that communicate the financial performance and strength of the company, being:

| 2026 | 2025
| £ | £
Turnover | 8,464,107 | 7,453,327
Gross profit | 2,589,204 | 1,926,932
Gross margin | 30.59% | 25.85%
Operating profit | 1,894,140 | 1,219,377
Shareholders funds | 6,869,713 | 6,816,920

Principal risks and uncertainties

The board regularly reviews the business risks and uncertainties facing the company and takes the appropriate action. Set out below are the principal risk factors relation to the company's business, along with procedures to mitigate these risks and uncertainties.

Competition risk

The industry in which the company operates is highly competitive. As a result, the company has to price its services competitively in order to win tenders. However, developing new and existing processes, along with other measures, have enabled the company to maintain its gross margin in recent years.

Health and safety risk

The company is in a regulated industry where the maintenance of health and safety and environmental standards are absolutely crucial. The company recognises its obligations and the risk to its reputation of any incident affecting either its customers or employees. The directors are mindful of their responsibilities and comply with all relevant legislation.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 2 -
Financial instruments and liquidity risk

The company has several financial instruments which provide a financial base. These comprise trade debtors, trade creditors, hire purchase agreements and bank loans. Their existence exposes the company to a number of financial risks, which the company seeks to manage and limit the potential adverse effects. These policies remain unchanged from previous years. The company also seeks to mitigate financial risk by ensuring sufficient liquidity is available to meet foreseeable needs.

Interest rate risk

The company has borrowings and is therefore at risk from interest rate rises. However, the profits of the company adequately cover the interest charges and it is felt that there is enough headroom for the company to manage any increase in interest charges.

Credit risk

To be commercial, the company must allow its customers to trade with credit terms and hence the company is exposed to the associated risks. The company mitigates these risks by carrying out credit checks on new customers and has a dedicated credit control department to monitor amounts outstanding from existing customers. Bad debts are minimal in the year.

Liquidity risk

The liquidity risk of the company is considered to be low because the company has a healthy balance sheet position at the year end and strong cash flow.

On behalf of the board

M Pinder
Director
24 June 2026
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -

The directors present their annual report and financial statements for the year ended 28 February 2026.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A Pinder
J Pinder
S Pinder
M Pinder
J Pinder
W Richardson
N L Halverson
Research and development

The research and development activities of company are concentrated on the development of new processes and increased investment in plant and machinery.

Future developments

The company intends to keep its innovative and competitive edge by improving manufacturing processes.

The directors consider that the company has performed well over the year and are confident that the company will continue to develop and grow despite the high competition within the industry.

Auditor

Azets Audit Services were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 4 -
Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of :

-Financial risk management objectives and policies

-Information on exposure to credit risk and liquidity risk

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
M Pinder
Director
24 June 2026
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A & G PRECISION AND SONS LIMITED
- 5 -
Opinion

We have audited the financial statements of A & G Precision and Sons Limited (the 'company') for the year ended 28 February 2026 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 28 February 2026 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A & G PRECISION AND SONS LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

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

- certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A & G PRECISION AND SONS LIMITED (CONTINUED)
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk 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.

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.

Julie Flintoff BA(Hons) FCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Floor 1, Capital House
8 Pittman Court, Pittman Way
Fulwood
Preston
Lancashire
PR2 9ZG
20 July 2026
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 8 -
2026
2025
Notes
£
£
Turnover
3
8,464,106
7,453,327
Cost of sales
(5,526,223)
(5,526,395)
Gross profit
2,937,883
1,926,932
Administrative expenses
(1,209,549)
(708,556)
Other operating income
-
0
1,001
Operating profit
4
1,728,334
1,219,377
Interest receivable and similar income
7
2,827
14,136
Interest payable and similar expenses
8
(72,150)
(62,436)
Profit before taxation
1,659,011
1,171,077
Tax on profit
9
(338,610)
(301,647)
Profit for the financial year
1,320,401
869,430

The profit and loss account has been prepared on the basis that all operations are continuing operations.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
BALANCE SHEET
AS AT
28 FEBRUARY 2026
28 February 2026
- 9 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
11
2,681,221
2,625,191
Current assets
Stocks
12
177,893
177,893
Debtors
13
3,320,643
2,169,311
Cash at bank and in hand
4,282,947
3,929,840
7,781,483
6,277,044
Creditors: amounts falling due within one year
14
(835,893)
(1,009,084)
Net current assets
6,945,590
5,267,960
Total assets less current liabilities
9,626,811
7,893,151
Creditors: amounts falling due after more than one year
15
(1,092,273)
(711,452)
Provisions for liabilities
Deferred tax liability
18
397,217
364,779
(397,217)
(364,779)
Net assets
8,137,321
6,816,920
Capital and reserves
Called up share capital
20
100
100
Profit and loss reserves
8,137,221
6,816,820
Total equity
8,137,321
6,816,920

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 24 June 2026 and are signed on its behalf by:
M Pinder
Director
Company registration number 02929703 (England and Wales)
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2024
100
6,478,390
6,478,490
Year ended 28 February 2025:
Profit and total comprehensive income
-
869,430
869,430
Dividends
10
-
(531,000)
(531,000)
Balance at 28 February 2025
100
6,816,820
6,816,920
Year ended 28 February 2026:
Profit and total comprehensive income
-
1,320,401
1,320,401
Balance at 28 February 2026
100
8,137,221
8,137,321
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 11 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
1,568,557
1,768,322
Interest paid
(72,150)
(62,436)
Income taxes paid
(188,500)
(522,841)
Net cash inflow from operating activities
1,307,907
1,183,045
Investing activities
Purchase of tangible fixed assets
(101,844)
(132,911)
Receipts arising from loans made
(526,740)
(84,558)
Interest received
2,827
14,136
Net cash used in investing activities
(625,757)
(203,333)
Financing activities
Repayment of bank loans
(32,732)
(32,873)
Payment of finance leases obligations
(296,311)
(280,153)
Dividends paid
-
0
(531,000)
Net cash used in financing activities
(329,043)
(844,026)
Net increase in cash and cash equivalents
353,107
135,686
Cash and cash equivalents at beginning of year
3,929,840
3,794,154
Cash and cash equivalents at end of year
4,282,947
3,929,840
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 12 -
1
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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Property, plant and equipment

Tangible fixed assets are depreciated using the straight-line or reducing balance method based on the estimated useful life, taking into account any residual value. The asset’s residual value and useful life are based on company best estimates and are reviewed, and adjusted if required, at each balance sheet date.

2
Accounting policies
Company information

A & G Precision and Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Floor 1, Capital House, 8 Pittman Court, Pittman Way, Fulwood, Preston, Lancashire, United Kingdom, PR2 9ZG. . The principal place of business is Preesall Mill, Park Lane, Preesall, Poulton-Le-Fylde, Lancashire, FY6 0LU.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2
Accounting policies
(Continued)
- 13 -
2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% Straight Line
Plant and machinery
10% and 25% Reducing Balance
Fixtures & fittings
15% & 25% Reducing Balance
Motor vehicles
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Freehold land is not depreciated.

2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include deposits held at call with banks.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
2
Accounting policies
(Continued)
- 14 -
2.8
Financial instruments

The company only has financial assets (debtors, cash and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently at their settlement value.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
2
Accounting policies
(Continued)
- 15 -
2.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 16 -
3
Turnover and other revenue
2026
2025
£
£
Turnover analysed by geographical market
UK
8,464,107
7,248,481
Overseas
-
204,846
8,464,107
7,453,327
Analysis per statutory database
8,464,107
7,453,327
Statutory database analysis does not agree to the trial balance by:
1
-
2026
2025
£
£
Other revenue
Interest income
2,827
14,136
4
Operating profit
2026
2025
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
11,500
10,500
Depreciation of owned tangible fixed assets
305,965
318,828
Depreciation of tangible fixed assets held under finance leases
163,299
127,374
Operating lease charges
567
16,259
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Administration
22
21
Production
50
47
Total
72
68
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
5
Employees
(Continued)
- 17 -

Their aggregate remuneration comprised:

2026
2025
£
£
Wages and salaries
2,507,890
2,324,188
Social security costs
473,430
248,250
Pension costs
37,741
158,946
3,019,061
2,731,384
6
Directors' remuneration
2026
2025
£
£
Remuneration for qualifying services
15,574
480,637
Company pension contributions to defined contribution schemes
-
2,311
15,574
482,948
Remuneration disclosed above includes £107,528 (2025: £109,438) of remuneration and £1,321 (2025: £330) of company defined benefit pension contributions paid to the highest paid director.

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

7
Interest receivable and similar income
2026
2025
£
£
Interest income
Interest on bank deposits
2,827
14,136
2026
2025
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
2,827
14,136
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 18 -
8
Interest payable and similar expenses
2026
2025
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
29,400
31,225
Other finance costs:
Interest on finance leases and hire purchase contracts
42,750
31,051
Other interest
-
0
160
72,150
62,436
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 19 -
9
Taxation
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
306,172
277,417
Adjustments in respect of prior periods
-
0
(1,156)
Total current tax
306,172
276,261
Deferred tax
Origination and reversal of timing differences
32,438
25,386
Total tax charge
338,610
301,647

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2026
2025
£
£
Profit before taxation
1,659,011
1,171,077
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2025: 25.00%)
414,753
292,769
Tax effect of expenses that are not deductible in determining taxable profit
8,425
5,430
Depreciation on assets not qualifying for tax allowances
4,571
3,448
Research and development tax credit
(100,563)
-
0
Deferred tax adjustments in respect of prior years
(2,614)
-
0
Taxation charge for the year
324,572
301,647
Taxation charge in the financial statements
338,610
301,647
Reconciliation - the current year tax charge does not reconcile to the above analysis. Please review figures in the database.
(14,038)
-
10
Dividends
2026
2025
£
£
Final paid
-
0
531,000
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 20 -
11
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures & fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2025
1,428,176
5,884,782
326,621
15,750
7,655,329
Additions
-
0
498,087
27,207
-
0
525,294
Disposals
-
0
(714,987)
(112,079)
-
0
(827,066)
At 28 February 2026
1,428,176
5,667,882
241,749
15,750
7,353,557
Depreciation and impairment
At 1 March 2025
507,840
4,290,114
225,884
6,300
5,030,138
Depreciation charged in the year
21,129
393,584
51,401
3,150
469,264
Eliminated in respect of disposals
-
0
(714,987)
(112,079)
-
0
(827,066)
At 28 February 2026
528,969
3,968,711
165,206
9,450
4,672,336
Carrying amount
At 28 February 2026
899,207
1,699,171
76,543
6,300
2,681,221
At 28 February 2025
920,336
1,594,668
100,737
9,450
2,625,191

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2026
2025
£
£
Plant and machinery
1,263,205
1,422,674
Motor vehicles
6,300
9,450
1,269,505
1,432,124
12
Stocks
2026
2025
£
£
Raw materials and consumables
60,000
60,000
Work in progress
117,893
117,893
177,893
177,893
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 21 -
13
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,165,779
999,754
Corporation tax recoverable
-
0
56,977
Other debtors
2,149,525
1,091,280
Prepayments and accrued income
5,339
21,300
3,320,643
2,169,311
14
Creditors: amounts falling due within one year
2026
2025
Notes
£
£
Bank loans
17
-
0
40,401
Obligations under finance leases
16
-
0
246,013
Trade creditors
387,329
338,846
Corporation tax
92,014
31,319
Other taxation and social security
291,124
252,753
Other creditors
11,726
50,765
Accruals and deferred income
53,700
48,987
835,893
1,009,084

Hire purchase creditors of £261,828 (2025: £246,013) are secured against the assets to which the agreement relates.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 22 -
15
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Bank loans and overdrafts
17
353,699
346,030
Obligations under finance leases
16
738,574
365,422
1,092,273
711,452

Hire purchase creditors of £476,746 (2025: £365,422) are secured against the assets to which the agreement relates.

Amounts included above which fall due after five years are as follows:
Payable by instalments
116,806
154,760
16
Finance lease obligations
2026
2025
Future minimum lease payments due under finance leases:
£
£
Within one year
296,130
273,505
In two to five years
516,881
392,484
813,011
665,989
Less: future finance charges
(74,437)
(54,554)
738,574
611,435

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. The Company has options to purchase the equipment for a nominal amount at the conclusion of the lease arrangements. The average lease term is 3 to 5 years.

The finance leases are secured by the lessors' title to the leased assets which have a carrying value of £1,269,505 (2025: £1,432,124).

The directors consider that the carrying amount of the obligations under finance leases approximate to their fair value.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 23 -
17
Loans and overdrafts
2026
2025
£
£
Bank loans
353,699
386,431
Payable within one year
-
0
40,401
Payable after one year
353,699
346,030

The company has two bank loans from NatWest.

Loan 1

The bank loan of £349,839 (2025: £386,431) is secured by:

A debenture incorporating a fixed and floating charge over all assets of the company.

A first legal charge over freehold land & buildings with a carrying value of £899,207.

The bank loan is repayable by monthly instalments over a 10 year period commencing March 2023 with interest at 2.40% above bank base rate.

A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 24 -
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2026
2025
Balances:
£
£
Accelerated capital allowances
400,315
365,793
Retirement benefit obligations
(1,138)
(1,014)
399,177
364,779
Statutory database figures differ from the trial balance:
Deferred tax balances
397,217
364,779
Difference
1,960
-
2026
Movements in the year:
£
Liability at 1 March 2025
364,779
Charge to profit or loss
34,398
Liability at 28 February 2026
399,177
Balance per TB
397,217
Warning - Difference exists; check stat db entries
(1,960)

All deferred tax liabilities have been recognised at 25% (2025: 25%).

19
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
37,741
158,946

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Included in the financial statements is an amount of £11,726 (2025: £10,455) owing by the company with regard to pensions. This represents amounts that have been deducted at the year end but paid to the scheme after the year end.

20
Share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
A & G PRECISION AND SONS LIMITED
A & G Precision And Sons Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 25 -
21
Related party transactions

During the year the company provided loans to related companies totalling £991,620 (2025: £472,300). The loans are unsecured, interest free, repayable on demand and included within Other Debtors.

During the year the company purchased services from a related company totalling £409,435 (2025: £302,328). A trade creditor was outstanding at the year end of £46,957 (2025: £24,754).

22
Directors' transactions

During the year the company provided interest free unsecured loans to directors totalling £Nil (2025: £615,380) which is repayable on demand. The company advanced £900,833 and £900,833 was repaid. No amounts were waived or written off.

During the year the directors provided an unsecured interest free loan which is repayable on demand to the company totalling £216,697 (2025: Nil).

23
Cash generated from operations
2026
2025
£
£
Profit after taxation
1,320,401
869,430
Adjustments for:
Taxation charged
338,610
301,647
Finance costs
72,150
62,436
Investment income
(2,827)
(14,136)
Depreciation and impairment of tangible fixed assets
469,264
446,202
Movements in working capital:
Increase in stocks
-
0
(33,320)
(Increase)/decrease in debtors
(681,569)
85,523
Increase in creditors
52,528
50,540
Cash generated from operations
1,568,557
1,768,322
24
Analysis of changes in net funds
1 March 2025
Cash flows
28 February 2026
£
£
£
Cash at bank and in hand
3,929,840
353,107
4,282,947
Borrowings excluding overdrafts
(386,431)
32,732
(353,699)
Lease liabilities
(611,435)
(127,139)
(738,574)
2,931,974
258,700
3,190,674
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