REGISTERED NUMBER: 01563804 (England and Wales)

N.F.F. PRECISION LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

A D Deves

J C Langham

Mrs D Hadrill

SECRETARY:

A D Deves

REGISTERED OFFICE:

Bingham's Melcombe

Dorchester

Dorset

DT2 7PZ

BUSINESS ADDRESS:

4 Enterprise Way

Aviation Park West

Bournemouth International Airport

Christchurch

Dorset

BH23 6EW

REGISTERED NUMBER:

01563804 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Argyle BSc ACA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Property, plant and equipment

3

645,966

733,723

CURRENT ASSETS

Inventories

4

561,537

1,025,380

Debtors

5

2,052,935

1,137,493

Cash at bank

105,283

120,957

2,719,755

2,283,830

CREDITORS

Amounts falling due within one year

6

1,344,715

1,984,054

NET CURRENT ASSETS

1,375,040

299,776

TOTAL ASSETS LESS CURRENT LIABILITIES

2,021,006

1,033,499

CREDITORS

Amounts falling due after more than one year

7

-

(67,752

)

PROVISIONS FOR LIABILITIES

9

(149,995

)

(58,118

)

NET ASSETS

1,871,011

907,629

CAPITAL AND RESERVES

Called up share capital

10

1,500,000

1,000,000

Retained earnings

371,011

(92,371

)

SHAREHOLDERS' FUNDS

1,871,011

907,629

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2026 and were signed on its behalf by:

J C Langham - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is a subsidiary of Langham Industries Limited. Consolidated financial statements of Langham

Industries Limited can be obtained from:

Companies House

Crown Way

Cardiff

CF14 3UZ

Revenue

Revenue represents sales of goods and services at invoice value less trade discounts allowed and excluding value added tax. Revenue is recognised upon despatch of goods or when services are performed.

Property, plant and equipment

Property, plant and equipment assets are held at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% - 20% on reducing balance

Motor vehicles - 25% on reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Inventories

Raw materials are valued at the lower of cost and fair value less costs to complete and sell and due allowance is made for obsolete and excess inventories.

Work in progress and finished goods are valued at the lower of cost, including relevant works overheads, and fair value less costs to complete and sell.

Inventories are accounted for on a first-in-first-out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

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

Amounts recoverable on contract

Revenue is recognised on contracts where the company has obtained a right to consideration. Revenue recognised in this manner is based on an assessment of the fair value of the goods and services provided at the balance sheet date as a proportion of the total value of the contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

The company has changed its accounting estimate for amounts recoverable on contract to provide more reliable and relevant financial information. The change is applied prospectively, and comparative amounts have not been adjusted. The effect of this change increased amounts recoverable on contract by £836,202, decreased inventories by £604,669 and increased reported profitability by £231,533.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2024 - 44 ) .

3.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2025

1,740,417

Additions

41,886

Disposals

(54,243

)

At 31 December 2025

1,728,060

DEPRECIATION

At 1 January 2025

1,006,694

Charge for year

123,872

Eliminated on disposal

(48,472

)

At 31 December 2025

1,082,094

NET BOOK VALUE

At 31 December 2025

645,966

At 31 December 2024

733,723

4.	INVENTORIES

2025

2024

£

£

Raw materials and consumables

527,744

535,504

Work-in-progress

16,814

382,431

Finished goods

16,979

107,445

561,537

1,025,380

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

797,612

573,528

Amounts recoverable on contract

1,163,757

491,540

Prepayments

91,566

72,425

2,052,935

1,137,493

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

71,824

78,566

Payments on account

-

45,970

Trade creditors

164,146

164,698

Amounts owed to group undertakings

887,961

1,560,842

Corporation tax

14,050

-

Other taxes and social security

146,721

99,769

Other creditors and accruals

60,013

34,209

1,344,715

1,984,054

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

67,752

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

71,824

146,318

Hire purchase creditors are secured on the asset to which they relate.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Tax losses carried forward

-

(112,345

)

Accelerated capital allowances

153,551

173,444

Other timing differences

(3,556

)

(2,981

)

149,995

58,118

Deferred

tax

£

Balance at 1 January 2025

58,118

Charge to Statement of Income and Retained Earnings during year

91,877

Balance at 31 December 2025

149,995

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,500,000

Ordinary shares

£1

1,500,000

1,000,000

During the year 500,000 Ordinary £1 shares were issued at par

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

12.	CONTINGENT LIABILITIES

There are unlimited inter-company guarantees given by the company, nine fellow subsidiary companies and the parent company, in favour of Barclays plc. The total amount secured in respect of fellow group companies as at 31 December 2025, excluding this company, was £148,834 (2024 - £181,035).

13.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments as shown below.

Minimum lease payments under non-cancellable operating leases fall due as follows :

2025

2024

£

£

Within one year

104,364

101,795

Between one and five years

404,800

400,000

In more than five years

1,058,000

1,158,000

1,567,164

1,659,795

14.	EVENTS SINCE THE YEAR END

On 8 July 2026, the parent company, Langham Industries Limited converted loans totalling £1,000,000 into 1,000,000 Ordinary £1 shares.

15.	ULTIMATE PARENT COMPANY

The ultimate parent company is Langham Industries Limited, which is registered in England and Wales. The ultimate parent company's registered office is Bingham's Melcombe, Dorchester, Dorset, DT2 7PZ.

The ultimate controlling party of Langham Industries Limited is the Langham family.