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Registered number: 01896300 ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) COMPANY INFORMATION
Directors | R M Clark
| K H Tan
Registered number | 01896300
Registered office | Unit 10, 12 Beacon Court
| Pitstone Green Business Park
| Quarry Road
| Pitstone
| LU7 9GY
Independent auditors | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditors
| 3 Brook Business Centre
| Cowley Mill Road
| Uxbridge
| Middlesex
| UB8 2FX
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) CONTENTS
| Page
Directors' report | 1 - 2
Independent auditors' report | 3 - 7
Statement of comprehensive income | 8
Statement of financial position | 9 - 10
Notes to the financial statements | 11 - 21
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION 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. Change of name On 21 January 2026 the company changed its name from Colbree Precision Limited to Advanced Manufacturing Corporation UK Ltd.
Directors' responsibilities statement
The directors are responsible for preparing the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙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.
Directors
The directors who served during the year were:
J Tan (resigned 15 July 2025)
R M Clark
K H Tan (appointed 15 July 2025)
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Page 1
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
Auditors
The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board on 6 August 2026 and signed on its behalf.
K H Tan Director
Page 2
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED)
Opinion
We have audited the financial statements of Advanced Manufacturing Corporation UK Ltd (Formerly Known as Colbree Precision Limited) (the 'Company') for the year ended 31 March 2026, which comprise the Statement of comprehensive income, the Statement of financial position 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). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 March 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 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.
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. Page 3
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) (CONTINUED)
Other information
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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' report has been prepared in accordance with applicable legal requirements.
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 identified material misstatements in the Directors' report. 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; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report. Page 4
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 1, 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.
Auditors' 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 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 law 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 discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector; ∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows: i) Companies Act 2006 ii) FRS 102 iii) Tax legislation iv) Employment legislation v) AS9100D & ISO9001 ∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing supporting evidence where applicable; and ∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit. Page 5
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) (CONTINUED) 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 consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; ∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ∙Reviewing the financial statements and testing the disclosures against supporting documentation; ∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies; ∙Inspecting and testing journal entries to identify unusual or unexpected transactions; ∙Assessing whether judgement and assumptions made in determining significant accounting estimates, were indicative of management bias; and ∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business. The areas that we identified as being susceptible to misstatement through fraud were: ∙Management bias in the estimates and judgements made; ∙Management override of controls; and ∙Posting of unusual journals or transactions 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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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. Page 6
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) (CONTINUED)
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 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. Qasim Mehdi (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants & Statutory Auditors 3 Brook Business Centre Cowley Mill Road Uxbridge Middlesex UB8 2FX 7 August 2026 Page 7
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2026
| 2026 | 2025
| £ | £
Turnover |  | 5,505,027 | 6,363,420
Cost of sales |  | (3,605,586) | (4,024,837)
Gross profit |  | 1,899,441 | 2,338,583
Administrative expenses |  | (1,528,584) | (1,727,905)
Other operating income |  | 15,626 | 12,000
Operating profit |  | 386,483 | 622,678
Interest receivable and similar income |  | - | 1,026
Interest payable and similar expenses |  | (36,152) | (47,195)
Profit before tax |  | 350,331 | 576,509
Tax on profit |  | (103,759) | (146,500)
Profit for the financial year |  | 246,572 | 430,009
Total comprehensive income for the year |  | 246,572 | 430,009
The notes on pages 11 to 21 form part of these financial statements.
Page 8
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) REGISTERED NUMBER: 01896300 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 2,821,224 |  | 2,437,582
Investments | 6 |  | 104,080 |  | 104,080
|  |  | 2,925,304 |  | 2,541,662
Current assets |  |  |  |  |
Stocks | 7 | 1,291,970 |  | 1,086,683 |
Debtors: amounts falling due within one year | 8 | 869,153 |  | 963,792 |
Cash at bank and in hand | 9 | 242,167 |  | 209,948 |
|  | 2,403,290 |  | 2,260,423 |
Creditors: amounts falling due within one year | 10 | (1,241,308) |  | (1,281,978) |
Net current assets |  |  | 1,161,982 |  | 978,445
Total assets less current liabilities |  |  | 4,087,286 |  | 3,520,107
Creditors: amounts falling due after more than one year | 11 |  | (464,202) |  | (247,354)
Provisions for liabilities |  |  |  |  |
Deferred tax | 13 | (685,959) |  | (582,200) |
|  |  | (685,959) |  | (582,200)
Net assets |  |  | 2,937,125 |  | 2,690,553
Capital and reserves |  |  |  |  |
Called up share capital | 14 |  | 35,000 |  | 35,000
Revaluation reserve |  |  | 38,946 |  | 38,946
Profit and loss account |  |  | 2,863,179 |  | 2,616,607
|  |  | 2,937,125 |  | 2,690,553
Page 9
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) REGISTERED NUMBER: 01896300 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2026 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 August 2026.
K H Tan
Director
The notes on pages 11 to 21 form part of these financial statements. Page 10
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Advanced Manufacturing Corporation UK Ltd (Formerly known as Colbree Precision Limited) is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 10, 12 Beacon Court, Pitstone Green Business Park, Quarry Road, Pitstone, LU7 9GY. The company specialises in precision engineering. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of signing these financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue is recognised on the date that goods are dispatched to customers. Page 11
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. 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:
|  |  |  | Freehold property | - | 20% straight line
|  |  |  | Plant and machinery | - | 5-20% straight line
|  |  |  | Motor vehicles | - | 20% straight line
|  |  |  | Fixtures & fittings | - | 5-20% straight line
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 the Statement of comprehensive income.
| 2.5 | Revaluation of tangible fixed assets
The directors have been unable to obtain historical cost and accumulated depreciation at the balance sheet date and comparatives period and therefore this disclosure has been omitted.
| 2.6 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 12
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.
| 2.12 | Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.13 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term. Page 13
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.14 | Leased assets: the Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
| 2.15 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.16 | Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
| 2.17 | Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position. Page 14
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.19 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.20 | Invoice discounting
The company discounts its trade debts. The accounting policy of the company is to include trade debtors within one year and the returnable element of the advance within current liabilities. Discounting charges and interest are charged to the Statement of comprehensive income when they are due. Bad debts are borne by the company and are charged to the Statement of comprehensive income incurred.
3. | Employees
| The average monthly number of employees, including directors, during the year was 39 (2025 - 41).
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ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
4. | Directors' remuneration
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Directors' emoluments | 115,910 | 127,853
| Company contributions to defined contribution pension schemes | 3,182 | 6,960
|  | 119,092 | 134,813
| During the year retirement benefits were accruing to 1 director (2025 - 1) in respect of defined contribution pension schemes.
5. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 April 2025 | 43,793 | 2,756,942 | 55,841 | 438,391 | 3,294,967
| Additions | - | 655,319 | - | 3,662 | 658,981
| Disposals | - | (72,150) | - | - | (72,150)
| At 31 March 2026 | 43,793 | 3,340,111 | 55,841 | 442,053 | 3,881,798
| Depreciation |  |  |  |  |
| At 1 April 2025 | 32,846 | 676,199 | 3,001 | 145,339 | 857,385
| Charge for the year on owned assets | 10,947 | 73,970 | 13,417 | 28,253 | 126,587
| Charge for the year on financed assets | - | 102,646 | - | - | 102,646
| Disposals | - | (26,044) | - | - | (26,044)
| At 31 March 2026 | 43,793 | 826,771 | 16,418 | 173,592 | 1,060,574
| Net book value |  |  |  |  |
| At 31 March 2026 | - | 2,513,340 | 39,423 | 268,461 | 2,821,224
| At 31 March 2025 | 10,947 | 2,080,743 | 52,840 | 293,052 | 2,437,582
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ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 5.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Plant and machinery | 1,141,668 | 1,243,628
|  | 1,141,668 | 1,243,628
The directors have been unable to obtain historical cost and accumulated depreciation at the balance sheet date and comparatives period and therefore this disclosure has been omitted.
6. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost |
| At 1 April 2025 | 104,080
| At 31 March 2026 | 104,080
| Net book value |
| At 31 March 2026 | 104,080
| At 31 March 2025 | 104,080
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ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Class of shares | Holding
| Colbree Advanced Products Limited | Ordinary | 100%
| The subsidiary had aggregate share capital and reserves amounting to £1,721,600 as at 31 March 2026 and profit after tax amounting to £495,502 for the year ended 31 March 2026.
7. | Stocks
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Raw materials and consumables | 331,906 | 93,392
| Work in progress | 629,236 | 410,149
| Finished goods and goods for resale | 330,828 | 583,142
|  | 1,291,970 | 1,086,683
8. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | 807,601 | 882,417
| Other debtors | 17,037 | 37,131
| Prepayments and accrued income | 44,515 | 44,244
|  | 869,153 | 963,792
9. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 242,167 | 209,948
| Less: Factoring account | (927) | -
|  | 241,240 | 209,948
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ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
10. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Factoring account | 927 | -
| Trade creditors | 342,206 | 547,628
| Amounts owed to group undertakings | 534,705 | 434,068
| Other taxation and social security | 115,065 | 120,098
| Obligations under finance lease and hire purchase contracts | 195,773 | 157,726
| Other creditors | 37,934 | 22,458
| Accruals and deferred income | 14,698 | -
|  | 1,241,308 | 1,281,978
| Net obligations under finance leases and hire purchase contracts are secured over the assets to which they relate. Factoring account is secured by a fixed and floating charge over the assets of the company.
11. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 464,202 | 247,354
|  | 464,202 | 247,354
| Net obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.
12. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Within one year | 195,773 | 157,726
| Between 1-5 years | 464,202 | 111,400
| Over 5 years | - | 135,954
|  | 659,975 | 405,080
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ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
13. | Deferred taxation
|  | 2026 | 2025
|  | £ | £
| At beginning of year | 582,200 | 435,700
| Charged to the Statement of comprehensive income | 103,759 | 146,500
| At end of year | 685,959 | 582,200
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Tax losses carried forward | (14,358) | (9,977)
| Other timing differences | (2,296) | (515)
| Accelerated capital allowances | 702,613 | 592,692
|  | 685,959 | 582,200
14. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 35,000 Ordinary shares of £1 each | 35,000 | 35,000
15. | Contingent liabilities
Advanced Manufacturing Corporation UK Ltd has given an unlimited cross guarantee to the bankers of Colbree Advanced Products Limited in respect of their borrowings. The potential liability at the year end was £2,061,862 (2025 - £2,123,604).
16. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £62,564 (2025 - £74,351). Contributions totalling £16,034 (2025 - £3,660) were payable to the fund at the balance sheet date and are included in creditors. Page 20
ADVANCED MANUFACTURING CORPORATION UK LTD (FORMERLY KNOWN AS COLBREE PRECISION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
17. | Commitments under operating leases
| The Company had no commitments under non-cancellable operating leases at the reporting date.
18. | Related party transactions
| The company has taken advantage of the exemption permitted by Financial Reporting Standard 102 not to disclose any transactions with wholly owned members of group.
19. | Ultimate parent undertaking and controlling party
The company's immediate parent undertaking is Advanced Integrated Manufacturing Corp. Pte. Ltd.; a company incorporated in Singapore. The smallest and largest group which consolidates the company is AIM HoldCo Pte. Ltd. Copies of those consolidated financial statements can be obtained from 8 Marina View, #14-06A, Asia Square Tower 1, Singapore 018960. The ultimate parent undertaking is StateSquare HoldCo Alpha Pte. Ltd., a private equity business incorporated in Singapore which is not required to consolidate its investments. There is no ultimate controlling party.
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