Company Registration No. 11176779 (England and Wales)
EXPERT PRECISION ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2026
PAGES FOR FILING WITH REGISTRAR
A6 Kingfisher House
Kingsway
Team Valley Trading Estate
Gateshead
NE11 0JQ
EXPERT PRECISION ENGINEERING LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 9
EXPERT PRECISION ENGINEERING LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2026
31 January 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
640,449
606,184
Current assets
Stocks
50,000
102,000
Debtors
4
364,479
378,527
Cash at bank and in hand
20,996
30,485
435,475
511,012
Creditors: amounts falling due within one year
5
(639,661)
(704,770)
Net current liabilities
(204,186)
(193,758)
Total assets less current liabilities
436,263
412,426
Creditors: amounts falling due after more than one year
6
(208,498)
(282,797)
Provisions for liabilities
(121,460)
(115,175)
Net assets
106,305
14,454
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
106,302
14,451
Total equity
106,305
14,454
EXPERT PRECISION ENGINEERING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2026
31 January 2026
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
Mr S M Hornby
Director
Company registration number 11176779 (England and Wales)
EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
- 3 -
1
Accounting policies
Company information

Expert Precision Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7a, Benton Business Park, Bellway Industrial Estate, Whitley Road, Newcastle Upon Tyne, Tyne & Wear, NE12 9SW.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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, [modified to include the revaluation of certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

1.3
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:

Plant and equipment
10% RB - 20% SL
Fixtures and fittings
20% SL

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.

EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 4 -
1.4
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.

1.5
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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
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.

1.9
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.

1.10
Retirement benefits

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

EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 6 -
1.11
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.

2
Employees

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

2026
2025
Number
Number
Total
32
32
EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 7 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 February 2025
923,616
50,000
973,616
Additions
80,328
50,000
130,328
At 31 January 2026
1,003,944
100,000
1,103,944
Depreciation and impairment
At 1 February 2025
357,432
10,000
367,432
Depreciation charged in the year
76,063
20,000
96,063
At 31 January 2026
433,495
30,000
463,495
Carrying amount
At 31 January 2026
570,449
70,000
640,449
At 31 January 2025
566,184
40,000
606,184
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
360,630
374,679
Prepayments and accrued income
3,849
3,848
364,479
378,527
EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 8 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
44,669
70,873
Obligations under finance leases
7
47,354
55,174
Other borrowings
270,229
269,510
Trade creditors
112,027
125,832
Corporation tax
13,297
-
0
Other taxation and social security
129,432
168,264
Other creditors
18,153
10,617
Accruals and deferred income
4,500
4,500
639,661
704,770
6
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Bank loans and overdrafts
127,097
154,604
Obligations under finance leases
7
81,401
128,193
208,498
282,797
7
Finance lease obligations
2026
2025
Future minimum lease payments due under finance leases:
£
£
Within one year
47,354
55,174
In two to five years
81,401
128,193
128,755
183,367

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term at inception is Four years. The average lease term outstanding as at the year end is Three years.

All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

EXPERT PRECISION ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 9 -
8
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan
-
1,117
(1,117)
-
1,117
(1,117)
-
2026-01-31 2025-02-01 false false false 06 August 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr Stephen M Hornby Mr M Stokoe M Thompson 11176779 2025-02-01 2026-01-31 11176779 2026-01-31 11176779 2025-01-31 11176779 core:PlantMachinery 2026-01-31 11176779 core:FurnitureFittings 2026-01-31 11176779 core:PlantMachinery 2025-01-31 11176779 core:FurnitureFittings 2025-01-31 11176779 core:CurrentFinancialInstruments core:WithinOneYear 2026-01-31 11176779 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 11176779 core:Non-currentFinancialInstruments core:AfterOneYear 2026-01-31 11176779 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 11176779 core:Non-currentFinancialInstruments 2026-01-31 11176779 core:Non-currentFinancialInstruments 2025-01-31 11176779 core:ShareCapital 2026-01-31 11176779 core:ShareCapital 2025-01-31 11176779 core:RetainedEarningsAccumulatedLosses 2026-01-31 11176779 core:RetainedEarningsAccumulatedLosses 2025-01-31 11176779 bus:Director1 2025-02-01 2026-01-31 11176779 core:PlantMachinery 2025-02-01 2026-01-31 11176779 core:FurnitureFittings 2025-02-01 2026-01-31 11176779 2024-02-01 2025-01-31 11176779 core:PlantMachinery 2025-01-31 11176779 core:FurnitureFittings 2025-01-31 11176779 2025-01-31 11176779 core:CurrentFinancialInstruments 2026-01-31 11176779 core:CurrentFinancialInstruments 2025-01-31 11176779 core:WithinOneYear 2026-01-31 11176779 core:WithinOneYear 2025-01-31 11176779 core:BetweenTwoFiveYears 2026-01-31 11176779 core:BetweenTwoFiveYears 2025-01-31 11176779 bus:PrivateLimitedCompanyLtd 2025-02-01 2026-01-31 11176779 bus:SmallCompaniesRegimeForAccounts 2025-02-01 2026-01-31 11176779 bus:FRS102 2025-02-01 2026-01-31 11176779 bus:AuditExemptWithAccountantsReport 2025-02-01 2026-01-31 11176779 bus:Director2 2025-02-01 2026-01-31 11176779 bus:Director3 2025-02-01 2026-01-31 11176779 bus:FullAccounts 2025-02-01 2026-01-31 xbrli:pure xbrli:shares iso4217:GBP