Company Registration Number: SC049123
31 MARCH 2026
KMF PRECISION SHEET METAL LIMITED
COMPANY INFORMATION
KMF PRECISION SHEET METAL LIMITED
CONTENTS
KMF PRECISION SHEET METAL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors have pleasure in presenting their report and the financial statements of the company for the year ended 31 March 2026.
The principal activity of the company is the manufacture and fabrication of sheet metal products.
The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE.
The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.
The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE.
The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.
The market conditions in which the company operates are still extremely challenging due to the global economic climate and the competitive pressures within the industry.
Financial Risk
The company's operations expose it to a variety of financial risks that include the effect of changes in credit, liquidity and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance costs. The company does not use derivative financial instruments to manage interest rate costs and as such no hedge accounting is applied.
Credit Risk
The company has implemented policies that require appropriate credit checks on customers before sales are made. In addition to this the company insures the recoverability of all commercial sales through an outside credit agency.
Liquidity Risk
The directors believe that the company has sufficient funds available to support its activities in the future.
Financial Risk
The company's operations expose it to a variety of financial risks that include the effect of changes in credit, liquidity and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance costs. The company does not use derivative financial instruments to manage interest rate costs and as such no hedge accounting is applied.
Credit Risk
The company has implemented policies that require appropriate credit checks on customers before sales are made. In addition to this the company insures the recoverability of all commercial sales through an outside credit agency.
Liquidity Risk
The directors believe that the company has sufficient funds available to support its activities in the future.
Page 1
KMF PRECISION SHEET METAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The key financial performance indicators are those that communicate the financial performance and strength of the company as a whole. These being turnover, gross margin and return on capital employed.
Turnover has decreased in the year from £30,220,758 in 2025 to £28,954,364 in 2026. The decrease in sales revenue was in line with expectations. In addition to this the product mix is constantly changing, depending on the order base, and new products are constantly being developed.
The sales pipeline is strong, with exciting new projects at the prototype stage, ensuring the sales outlook for 2027 and beyond is positive.
The gross profit percentage has increased from 28.3% in 2025 to 30.3% in 2026.
Return on capital employed is approximately 5.2% (2025 - 3.5%) and is calculated by operating profit divided by total assets less current liabilities.
The directors have been seeking to maintain margin, contain operating costs, increase the number of customers, and improve product quality. To achieve these business targets, KMF continues to invest in new machinery and production processes in order to enhance the quality and delivery of customer's products and control costs. Additions to fixed assets amount to £435,940.
The recent inflationary pressure on wages and salaries, and the uncertainty around energy prices have challenged our cost base, and our customer base. We have worked hard to ensure that we are competitive, we have developed systems to control our costs and we should benefit significantly from this going forward.
The directors and management team are committed to a culture of continuous improvement and recognise that continued investment in facilities, equipment, technology and people are crucial to enable the company to continue to deliver the exceptional level of service that it is renowned for.
It has always been the company’s strategy to retain the skills within the business whilst developing the skills of its apprentices; this is a key strength of the business. KMF will continue to invest in apprentices to ensure the future of the business.
As part of the company's continued growth strategy, the group has continued to invest in its overseas manufacturing facility, and utilised the skills of the UK Company. The directors are confident that the overseas operation will deliver consistent profits during the course of 2027, as the benefit of operational leverage will continue.
Executive board meetings are held monthly, with full board meetings held three times a year. Actual performance is compared to budget at these meetings and significant variances are investigated. The management of working capital is also reviewed at these meetings.
With the risks and uncertainties of the current economic climate, the directors are aware that any plans for the future development of the business may be subject to unforeseen future events outside of their control.
Shareholders funds as at 31 March 2026 amounted to £14,246,203.
Turnover has decreased in the year from £30,220,758 in 2025 to £28,954,364 in 2026. The decrease in sales revenue was in line with expectations. In addition to this the product mix is constantly changing, depending on the order base, and new products are constantly being developed.
The sales pipeline is strong, with exciting new projects at the prototype stage, ensuring the sales outlook for 2027 and beyond is positive.
The gross profit percentage has increased from 28.3% in 2025 to 30.3% in 2026.
Return on capital employed is approximately 5.2% (2025 - 3.5%) and is calculated by operating profit divided by total assets less current liabilities.
The directors have been seeking to maintain margin, contain operating costs, increase the number of customers, and improve product quality. To achieve these business targets, KMF continues to invest in new machinery and production processes in order to enhance the quality and delivery of customer's products and control costs. Additions to fixed assets amount to £435,940.
The recent inflationary pressure on wages and salaries, and the uncertainty around energy prices have challenged our cost base, and our customer base. We have worked hard to ensure that we are competitive, we have developed systems to control our costs and we should benefit significantly from this going forward.
The directors and management team are committed to a culture of continuous improvement and recognise that continued investment in facilities, equipment, technology and people are crucial to enable the company to continue to deliver the exceptional level of service that it is renowned for.
It has always been the company’s strategy to retain the skills within the business whilst developing the skills of its apprentices; this is a key strength of the business. KMF will continue to invest in apprentices to ensure the future of the business.
As part of the company's continued growth strategy, the group has continued to invest in its overseas manufacturing facility, and utilised the skills of the UK Company. The directors are confident that the overseas operation will deliver consistent profits during the course of 2027, as the benefit of operational leverage will continue.
Executive board meetings are held monthly, with full board meetings held three times a year. Actual performance is compared to budget at these meetings and significant variances are investigated. The management of working capital is also reviewed at these meetings.
With the risks and uncertainties of the current economic climate, the directors are aware that any plans for the future development of the business may be subject to unforeseen future events outside of their control.
Shareholders funds as at 31 March 2026 amounted to £14,246,203.
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KMF PRECISION SHEET METAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The directors consider, both individually and together, that they have acted in the way they consider in good faith, would be most likely to promote the success of the Company and the Group for the benefit of its members as a whole (having regard to the stakeholders and matters set out in S172 of the Act) in the decisions taken during the year.
- Our plans are designed to have long term beneficial impact on the Group and to contribute to its success by providing our customers with high-quality products. We achieve these objectives by continuing to monitor market trends, by investing in people and focusing on improving our customer service, along with continued focus on bringing new products and services to market that generate value for our customers, employees and stakeholders.
- Our employees are fundamental to the delivery of our plans. We aim to be a responsible and attractive employer in our approach to the pay and benefits our employees receive and the opportunities they have to grow their careers. The directors are committed to employees' health, wellbeing and training engaging with specialists for external training and providing in-house sessions where required.
- Our plans are formed by engagement with our suppliers and customers, enabling us to gain an in depth understanding of their needs and priorities. We aim to act responsibly and fairly in how we engage with all stakeholders.
- We consider the impact of the Group's operations on the community and environment. We aim to employ local people and utilise the services of local companies as far as is possible.
- As directors, our intention is to behave responsibly and ensure that management operates the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours, and in doing so, will contribute positively to the delivery of our plans.
- As directors, our intention is to behave responsibly towards our shareholders and treat them fairly and equally so that they too may benefit from the successful delivery of our plans.
- Our plans are designed to have long term beneficial impact on the Group and to contribute to its success by providing our customers with high-quality products. We achieve these objectives by continuing to monitor market trends, by investing in people and focusing on improving our customer service, along with continued focus on bringing new products and services to market that generate value for our customers, employees and stakeholders.
- Our employees are fundamental to the delivery of our plans. We aim to be a responsible and attractive employer in our approach to the pay and benefits our employees receive and the opportunities they have to grow their careers. The directors are committed to employees' health, wellbeing and training engaging with specialists for external training and providing in-house sessions where required.
- Our plans are formed by engagement with our suppliers and customers, enabling us to gain an in depth understanding of their needs and priorities. We aim to act responsibly and fairly in how we engage with all stakeholders.
- We consider the impact of the Group's operations on the community and environment. We aim to employ local people and utilise the services of local companies as far as is possible.
- As directors, our intention is to behave responsibly and ensure that management operates the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours, and in doing so, will contribute positively to the delivery of our plans.
- As directors, our intention is to behave responsibly towards our shareholders and treat them fairly and equally so that they too may benefit from the successful delivery of our plans.
This report was approved by the board and signed on its behalf.
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KMF PRECISION SHEET METAL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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 to 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.
The profit for the year, after taxation, amounted to £479,748 (2025 - £280,649).
The directors do not recommend a final dividend.
The directors who served during the year were:
The directors are not expecting to make any significant changes in the nature of the business in the near future.
During the year, the policy of providing employees with information about the company has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas.
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KMF PRECISION SHEET METAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Company has taken the exemption not to disclose this information as it is included in the consolidated financial statements of KMF Group Holdings Limited as at 31 March 2026. These financial statements may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.
Information is not shown in the directors' report because it is shown in the strategic report under s414C(11). The strategic report includes a business review, principal risks and uncertainties and financial key performance indicators.
There have been no significant events affecting the Company since the year end.
Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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KMF PRECISION SHEET METAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KMF PRECISION SHEET METAL LIMITED
We have audited the financial statements of KMF Precision Sheet Metal Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of 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).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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KMF PRECISION SHEET METAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KMF PRECISION SHEET METAL LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report 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.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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KMF PRECISION SHEET METAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KMF PRECISION SHEET METAL LIMITED (CONTINUED)
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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions; and tested the operating effectiveness of key controls over purchase cycles on a sample basis.
• reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation; and
• enquiring of management as to actual and potential litigation and claims.
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KMF PRECISION SHEET METAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KMF PRECISION SHEET METAL LIMITED (CONTINUED)
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Skipton
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KMF PRECISION SHEET METAL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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KMF PRECISION SHEET METAL LIMITED
REGISTERED NUMBER: SC049123
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 28 form part of these financial statements.
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KMF PRECISION SHEET METAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
KMF Precision Sheet Metal Limited is engaged in the manufacture and fabrication of sheet metal products. During the year the company operated from its premises at High Carr Business Park, Millennium Way, Newcastle-Under-Lyme, Staffordshire, England, ST5 7UF.
The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE.
The Company is a private company limited by shares incorporated and domiciled in the United Kingdom. The company is a tax resident in the United Kingdom.
The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE.
The Company is a private company limited by shares incorporated and domiciled in the United Kingdom. The company is a tax resident in the United Kingdom.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of KMF Group Holdings Limited as at 31 March 2026 and these financial statements may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.
After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.
The directors consider the key accounting estimates to be provision for trade debtors, useful life and residual value of tangible fixed assets, and provision for obsolete stock.
Provisions for trade debtors are reviewed by the directors on an ongoing basis who use their specific industry knowledge and experience to ensure the correct judgements.
The useful lives and residual values of tangible fixed assets are reviewed on an ongoing basis by the directors.
Provisions for obsolete stock are reviewed by the directors on an ongoing basis who use their specific industry knowledge and experience to ensure the correct judgements.
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The whole of the turnover is attributable to the principal activity of the company.
Analysis of turnover by country of destination:
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 21
KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
11.Taxation (continued)
There were no factors that may affect future tax charges.
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 24
KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The obligations under finance lease and hire purchase contracts are secured by charges over the assets acquired under relevant agreements.
Invoice financing is secured against trade debtors.
Invoice financing is secured against trade debtors.
The obligations under finance lease and hire purchase contracts are secured by charges over the assets acquired under relevant agreements.
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Other reserves
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KMF PRECISION SHEET METAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The company is a wholly owned subsidiary undertaking of KMF Group Limited , a company registered in England and Wales.
KMF Group Limited is a wholly owned subsidiary undertaking ofKMF Group Holdings Limited , a company registered in England and Wales.
KMF Group Holdings Limited is under the control ofG M Higgins and his close family members who are interested in 100% of the issued share capital.
The consolidated financial statements of KMF Group Holdings Limited are available to the public and may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.
KMF Group Limited is a wholly owned subsidiary undertaking of
KMF Group Holdings Limited is under the control of
The consolidated financial statements of KMF Group Holdings Limited are available to the public and may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.
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