Company No: 02251944 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	14,953		14,975
Tangible assets	4	1,405,396		1,185,963
		1,420,349		1,200,938
Current assets
Stocks	5	280,549		288,724
Debtors	6	633,846		597,310
Cash at bank and in hand		674,817		718,147
		1,589,212		1,604,181
Creditors: amounts falling due within one year	7	( 599,074)		( 673,500)
Net current assets		990,138		930,681
Total assets less current liabilities		2,410,487		2,131,619
Creditors: amounts falling due after more than one year	8	( 144,665)		( 61,247)
Provision for liabilities	9	( 348,001)		( 274,646)
Net assets		1,917,821		1,795,726
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		1,917,721		1,795,626
Total shareholder's funds		1,917,821		1,795,726

For the financial year ending 31 May 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Alderman Tooling Limited (registered number: 02251944) were approved and authorised for issue by the Board of Directors on 08 September 2026. They were signed on its behalf by:

Karen Louise Friendship Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alderman Tooling Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bell Close, Newnham Industrial Estate, Plympton, PL7 4JH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	12 % reducing balance
	5 - 25 years straight line
Plant and machinery	10 - 25 % reducing balance
	3 - 10 years straight line
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Statement of Financial Position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	50		46

3. Intangible assets

	Computer software		Total
	£		£
Cost
At 01 June 2025	49,250		49,250
Additions	10,530		10,530
At 31 May 2026	59,780		59,780
Accumulated amortisation
At 01 June 2025	34,275		34,275
Charge for the financial year	10,552		10,552
At 31 May 2026	44,827		44,827
Net book value
At 31 May 2026	14,953		14,953
At 31 May 2025	14,975		14,975

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 June 2025	461,180		2,541,753		93,500		3,096,433
Additions	0		437,439		0		437,439
Disposals	( 16,566)		( 148,411)		( 51,250)		( 216,227)
At 31 May 2026	444,614		2,830,781		42,250		3,317,645
Accumulated depreciation
At 01 June 2025	144,103		1,696,000		70,367		1,910,470
Charge for the financial year	30,298		155,825		5,442		191,565
Disposals	( 16,566)		( 134,470)		( 38,750)		( 189,786)
At 31 May 2026	157,835		1,717,355		37,059		1,912,249
Net book value
At 31 May 2026	286,779		1,113,426		5,191		1,405,396
At 31 May 2025	317,077		845,753		23,133		1,185,963

5. Stocks

	2026		2025
	£		£
Raw materials	182,934		192,753
Work in progress	37,603		52,452
Finished goods	60,012		43,519
	280,549		288,724

6. Debtors

	2026		2025
	£		£
Trade debtors	326,054		531,133
Amounts owed by Group undertakings	264,035		0
Amounts owed by directors	0		5,600
Prepayments	40,834		50,829
Other debtors	2,923		9,748
	633,846		597,310

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	316,542		331,959
Amounts owed to Group undertakings	0		13,050
Accruals and deferred income	50,655		111,279
Taxation and social security	127,620		173,440
Obligations under finance leases and hire purchase contracts (secured)	86,166		24,499
Other creditors	18,091		19,273
	599,074		673,500

Net obligations under finance leases and hire purchase contracts are secured against the assets to which the finance relates.

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Obligations under finance leases and hire purchase contracts (secured)	144,665		61,247

Net obligations under finance leases and hire purchase contracts are secured against the assets to which the finance relates.

9. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 274,646)		( 276,168)
(Charged)/credited to the Statement of Income and Retained Earnings	( 73,355)		1,522
At the end of financial year	( 348,001)		( 274,646)

The deferred taxation balance is made up as follows:

	2026		2025
	£		£
Accelerated capital allowances	( 349,015)		( 275,511)
Other timing differences	1,014		865
	( 348,001)		( 274,646)

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
49 Ordinary shares of £ 1.00 each	49		49
33 A Ordinary shares of £ 1.00 each	33		33
18 B Ordinary shares of £ 1.00 each	18		18
	100		100

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	48,000		48,000
Between one and five years	104,000		152,000
	152,000		200,000

Pensions

The Company operates a defined contribution pension scheme for the directors and senior employees. 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 £33,398 (2025: £29,230). Contributions totalling £7,155 (2025: £6,357) were outstanding at the year end and are included in other creditors.

12. Related party transactions

Transactions with owners holding a participating interest in the entity

As the Company is a wholly owned subsidiary of Alderman Engineering Holdings Limited, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with the Parent that wholly owned the Company, which forms part of the group.

Other related party transactions

	2026		2025
	£		£
Balance due to a close family member of a Director	10,935		12,916