Company registration number 01586081 (England and Wales)
TUFCOT ENGINEERING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
TUFCOT ENGINEERING LIMITED
COMPANY INFORMATION
Directors
C M Chadbourne
P M Lundgren
(Appointed 31 December 2025)
C A Buddery
(Appointed 27 February 2026)
G C Barker
(Appointed 24 April 2026)
T M M Raesaenen
(Appointed 24 April 2026)
Company number
01586081
Registered office
330 Coleford Road
Darnall
Sheffield
S9 5PH
Auditor
Sumer Auditco Limited
Albert Works
Sidney Street
Sheffield
S1 4RG
TUFCOT ENGINEERING LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Profit and loss account
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 19
TUFCOT ENGINEERING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

Tufcot Engineering Limited is a specialist composites engineering manufacturer. The company produces bespoke materials manufactured from synthetic fabrics and thermosetting resins tailored directly to individual customer requirements. This operational versatility provides a distinct competitive advantage through material innovation, structural responsiveness, and deep sector-specific engineering expertise.

Since incorporation in 1981, the company has maintained stable organic growth across turnover, headcount, asset value, and financial outturn. This long-term stability remains the central objective under the new ownership of Dacke Industri, which acquired the company on 31 December 2025. Moving forward, the board expects to leverage the commercial group's wider expertise, industrial network, and corporate resources to accelerate strategic growth.

Principal risks and uncertainties

At present, supply chain disruptions stemming from global geopolitical volatility represent the principal operational risk to the business. While the absolute availability of core raw materials has remained stable during the period, the business has experienced heightened pricing instability. Management actively monitors procurement costs and adjusts commercial pricing structures where necessary to mitigate margin compression.

Key performance indicators

For the year ended 31 December 2025, the principal financial KPI monitored by the board was the Annual Order Intake Value, which tracks the total gross value of commercial orders secured. This metric is reviewed monthly against budget targets to Monthly tracking confirmed a steady, predictable baseline of demand, enabling management to optimise workshop scheduling and maintain stable production lead times. Additionally, the board regularly reviewed monthly management accounts to ensure continued underlying profitability throughout the period.

| 2025 | 2024
Annual order intake value | 4,925,905 | 5,227,304
Turnover | 5,406,672 | 5,071,317
Gross profit/(loss) | 2,795,950 | 2,964,104
Operating profit/(loss) | 1,191,677 | 529,920
Net assets | 4,982,924 | 4,132,191

Future Developments

The company enters the next financial year with a robust order book. Strategic focus remains centred on modernising legacy commercial systems, expanding market share in high-margin industrial sectors, and further embedding sustainable practices into core operational frameworks.

Progress continues regarding the second property opportunistically acquired in September 2023.

To measure strategic performance moving forward, the board will expand its financial oversight to monitor KPIs focusing on profitability, asset efficiency, and capital management.

On behalf of the board

C M Chadbourne
Director
26 August 2026
TUFCOT ENGINEERING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities
The principal activity of the company continued to be that of bonded fabric engineering components.
Results and dividends

The results for the year are set out on page 7.

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

Directors

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

E M Majchrzak
(Resigned 31 December 2025)
G M Majchrzak
(Resigned 1 July 2026)
C Majchrzak
(Resigned 31 December 2025)
C M Chadbourne
P M Lundgren
(Appointed 31 December 2025)
L R Fredin
(Appointed 31 December 2025 and resigned 24 April 2026)
C A Buddery
(Appointed 27 February 2026)
G C Barker
(Appointed 24 April 2026)
T M M Raesaenen
(Appointed 24 April 2026)
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Auditco Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

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

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

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

- select suitable accounting policies and then apply them consistently;

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

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

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

TUFCOT ENGINEERING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Statement of disclosure to auditor

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

On behalf of the board
C M Chadbourne
Director
26 August 2026
TUFCOT ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TUFCOT ENGINEERING LIMITED
- 4 -
Opinion

We have audited the financial statements of Tufcot Engineering Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

TUFCOT ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TUFCOT ENGINEERING LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 from our commercial knowledge and experience of the forged product manufacturing and supply sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; 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.

TUFCOT ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TUFCOT ENGINEERING LIMITED (CONTINUED)
- 6 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates in the accounts were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

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;

- reading the minutes of meetings of those charged with governance; and

- enquiring of management as to actual and potential litigation and claims.

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

Other matters which we are required to address

The comparative figures in the financial statements are derived from the company's prior period financial statements, which were not audited, and accordingly the comparative figures are unaudited.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Adrian Staniforth (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited, Statutory Auditor
Chartered Accountants
Albert Works
Sidney Street
Sheffield
S1 4RG
26 August 2026
TUFCOT ENGINEERING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
5,406,672
5,071,317
Cost of sales
(2,610,722)
(2,107,213)
Gross profit
2,795,950
2,964,104
Administrative expenses
(1,616,437)
(2,443,637)
Other operating income
12,164
9,453
Operating profit
4
1,191,677
529,920
Interest receivable and similar income
7
20,593
32,202
Interest payable and similar expenses
8
-
0
(19,164)
Profit before taxation
1,212,270
542,958
Tax on profit
9
(361,571)
(143,257)
Profit for the financial year
850,699
399,701

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

TUFCOT ENGINEERING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
2,438,207
2,582,207
Current assets
Stocks
12
339,986
365,351
Debtors
13
784,282
702,503
Cash at bank and in hand
2,256,136
1,868,007
3,380,404
2,935,861
Creditors: amounts falling due within one year
14
(643,687)
(1,205,877)
Net current assets
2,736,717
1,729,984
Total assets less current liabilities
5,174,924
4,312,191
Provisions for liabilities
Deferred tax liability
15
192,000
180,000
(192,000)
(180,000)
Net assets
4,982,924
4,132,191
Capital and reserves
Called up share capital
17
100
66
Capital redemption reserve
33
33
Profit and loss reserves
4,982,791
4,132,092
Total equity
4,982,924
4,132,191

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

The financial statements were approved by the board of directors and authorised for issue on 26 August 2026 and are signed on its behalf by:
C M Chadbourne
Director
Company registration number 01586081 (England and Wales)
TUFCOT ENGINEERING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
66
33
3,793,587
3,793,686
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
399,701
399,701
Dividends
10
-
-
(61,196)
(61,196)
Balance at 31 December 2024
66
33
4,132,092
4,132,191
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
850,699
850,699
Other movements
34
-
-
34
Balance at 31 December 2025
100
33
4,982,791
4,982,924
TUFCOT ENGINEERING LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
20
593,107
658,563
Interest paid
-
0
(19,164)
Income taxes paid
(150,257)
(119,820)
Net cash inflow from operating activities
442,850
519,579
Investing activities
Purchase of tangible fixed assets
(75,348)
(148,361)
Proceeds from disposal of tangible fixed assets
-
0
60,000
Interest received
20,593
32,202
Net cash used in investing activities
(54,755)
(56,159)
Financing activities
Proceeds from issue of shares
34
-
0
Repayment of bank loans
-
0
(280,929)
Dividends paid
-
0
(61,196)
Net cash generated from/(used in) financing activities
34
(342,125)
Net increase in cash and cash equivalents
388,129
121,295
Cash and cash equivalents at beginning of year
1,868,007
1,746,712
Cash and cash equivalents at end of year
2,256,136
1,868,007
TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Tufcot Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is 330 Coleford Road, Darnall, Sheffield, S9 5PH.

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.

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 conventions. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Turnover

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

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

1.4
Tangible fixed assets

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

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

Land and buildings Freehold
2% to 4% straight line
Plant and machinery
Over 7 years straight line
Fixtures, fittings & equipment
Over 7 years straight line or 33% straight line
Motor vehicles
25% straight line

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

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.6
Stocks

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

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

1.7
Cash at bank and in hand

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.

1.8
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.

1.9
Taxation
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.

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
Employee benefits

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.11
Retirement benefits

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

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

T here are no key judgements, estimates or assumptions that have been made by the directors in the preparation of these financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Manufacture and supply of bonded fabric engineering components
5,406,672
5,071,317
2025
2024
£
£
Other revenue
Interest income
20,593
32,202

The directors have elected not to disclose an analysis of turnover by geographical market as, in their opinion, such disclosure would be seriously prejudicial to the commercial interests of the Company.

TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(17,713)
(14,688)
Fees payable to the company's auditor for the audit of the company's financial statements
16,000
-
0
Depreciation of tangible fixed assets
219,348
237,535
Profit on disposal of tangible fixed assets
-
(60,000)
5
Employees

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

2025
2024
Number
Number
56
52

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,020,950
2,468,609
Social security costs
244,855
277,118
Pension costs
60,772
255,788
2,326,577
3,001,515
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
335,984
735,023
Company pension contributions to defined contribution schemes
21,000
187,000
356,984
922,023
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
264,047
175,550
Company pension contributions to defined contribution schemes
1,000
100,000
TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
19,995
32,202
Other interest income
598
-
0
Total income
20,593
32,202
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
19,995
32,202
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Interest on bank overdrafts and loans
-
19,164
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
349,571
150,257
Deferred tax
Origination and reversal of timing differences
12,000
(7,000)
Total tax charge
361,571
143,257
TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
(Continued)
- 16 -

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

2025
2024
£
£
Profit before taxation
1,212,270
542,958
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
303,068
135,740
Tax effect of expenses that are not deductible in determining taxable profit
11,235
1,919
Deferred tax not recognised
7,023
(8,009)
Fixed asset differences
40,245
13,607
Taxation charge for the year
361,571
143,257
10
Dividends
2025
2024
£
£
Interim paid
-
0
61,196
11
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
2,109,163
3,243,617
124,817
68,165
5,545,762
Additions
-
0
66,997
8,351
-
0
75,348
Disposals
-
0
-
0
-
0
(46,428)
(46,428)
At 31 December 2025
2,109,163
3,310,614
133,168
21,737
5,574,682
Depreciation
At 1 January 2025
349,200
2,442,781
103,409
68,165
2,963,555
Depreciation charged in the year
57,018
154,994
7,336
-
0
219,348
Eliminated in respect of disposals
-
0
-
0
-
0
(46,428)
(46,428)
At 31 December 2025
406,218
2,597,775
110,745
21,737
3,136,475
Carrying amount
At 31 December 2025
1,702,945
712,839
22,423
-
0
2,438,207
At 31 December 2024
1,759,963
800,836
21,408
-
0
2,582,207
TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
12
Stocks
2025
2024
£
£
Raw materials and consumables
180,087
157,937
Work in progress
126,390
161,003
Finished goods and goods for resale
33,509
46,411
339,986
365,351
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
685,995
632,326
Other debtors
42,238
30,575
Prepayments and accrued income
56,049
39,602
784,282
702,503
14
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
83,666
158,153
Corporation tax
349,571
150,257
Other taxation and social security
76,514
73,218
Other creditors
4,888
8,831
Accruals and deferred income
129,048
815,418
643,687
1,205,877
15
Deferred taxation
Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
192,000
180,000
2025
Movements in the year:
£
Liability at 1 January 2025
180,000
Charge to profit or loss
12,000
Liability at 31 December 2025
192,000
TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
15
Deferred taxation
(Continued)
- 18 -

The deferred tax liability set out above relates to accelerated capital allowances and will reverse over the useful life of the relevant assets.

16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
60,772
255,788

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

17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
25
66
25
66
Ordinary B shares of £1 each
25
0
25
-
0
Ordinary C shares of £1 each
25
0
25
-
0
Ordinary D shares of £1 each
25
0
25
-
0
100
66
100
66

On 6 February 2025 34 Ordinary shares of £1 each were allotted. The Ordinary share capital of the company was then redesignated into 25 A Ordinary shares, 25 B Ordinary shares, 25 C Ordinary shares and 25 D Ordinary shares of £1 each.

All share classes are non-redeemable and carry equal rights to participate in dividends and capital distributions upon a winding up of the Company. The A Ordinary shares and B Ordinary shares also confer the right to appoint directors, a right which does not attach to the C Ordinary shares and D Ordinary shares.

18
Controlling party

The immediate parent company is Dacke Industri Holding AB, a company incorporated in Sweden. The registered office is Hästmöllegränden 3, SE-252 20 Helsingborg, Sweden. The registered number is 556664-7227.

The ultimate controlling party is The Axel and Margaret Ax:son Johnson Foundation for Public Benefit.

19
Post balance sheet event

On 27 February 2026, the company redesignated its issued share capital from four classes of ordinary shares (A, B, C and D Ordinary shares) into a single class of 100 Ordinary £1 shares. Following the redesignation, all shares carry identical rights to dividends, capital distributions and voting.

TUFCOT ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
20
Cash generated from operations
2025
2024
£
£
Profit after taxation
850,699
399,701
Adjustments for:
Taxation charged
361,571
143,257
Finance costs
-
0
19,164
Investment income
(20,593)
(32,202)
Gain on disposal of tangible fixed assets
-
(60,000)
Depreciation and impairment of tangible fixed assets
219,348
237,535
Movements in working capital:
Decrease/(increase) in stocks
25,365
(263,874)
(Increase)/decrease in debtors
(81,779)
193,261
(Decrease)/increase in creditors
(761,504)
21,721
Cash generated from operations
593,107
658,563
21
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,868,007
388,129
2,256,136
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