REGISTERED NUMBER: 02078050 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Machined Component Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W J Gray

J T Gray

G P Gray

SECRETARY:

J T Gray

REGISTERED OFFICE:

2-5 Madeley Road

Moons Moat North Industrial Estate

Redditch

Worcestershire

B98 9NB

REGISTERED NUMBER:

02078050 (England and Wales)

ACCOUNTANTS:

O'Sullivan Hughes Limited

185 Wellsway

Keynsham

Bristol

BS31 1JJ

FIXED ASSETS

Tangible assets

4

2,242,369

2,607,654

CURRENT ASSETS

Stocks

223,070

193,077

Debtors

5

795,293

1,049,537

Cash at bank and in hand

2,562,861

1,808,951

3,581,224

3,051,565

CREDITORS

Amounts falling due within one year

6

(816,610

)

(1,010,500

)

NET CURRENT ASSETS

2,764,614

2,041,065

TOTAL ASSETS LESS CURRENT LIABILITIES

5,006,983

4,648,719

CREDITORS

Amounts falling due after more than one year

7

(61,351

)

(78,854

)

PROVISIONS FOR LIABILITIES

(540,012

)

(456,646

)

NET ASSETS

4,405,620

4,113,219

CAPITAL AND RESERVES

Called up share capital

52,600

52,600

Retained earnings

4,353,020

4,060,619

SHAREHOLDERS' FUNDS

4,405,620

4,113,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2026 and were signed on its behalf by:

J T Gray - Director

1.	STATUTORY INFORMATION

Machined Component Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of production and sale of precision machined components.

2.	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 under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover 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. Turnover 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

Turnover 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 turnover 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.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably

Tangible fixed assets

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

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - At variable rates on reducing balance

Motor Vehicles - 33% reducing balance

Computer Equipment - 33% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued using the first two weeks of sales after the year-end less a margin of 25%. No element of profit is included in the valuation of work in progress.

Cash and cash equivalents

Cash and cash equivalents 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.

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 when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis where this is not materially different to the sum of the digits basis. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

5,652,887

71,812

37,760

5,762,459

Additions

(16,198

)

-

27,869

11,671

Disposals

(230,530

)

(21,358

)

-

(251,888

)

At 31 December 2025

5,406,159

50,454

65,629

5,522,242

DEPRECIATION

At 1 January 2025

3,075,732

46,018

33,055

3,154,805

Charge for year

348,927

12,632

13,901

375,460

Eliminated on disposal

(229,181

)

(21,211

)

-

(250,392

)

At 31 December 2025

3,195,478

37,439

46,956

3,279,873

NET BOOK VALUE

At 31 December 2025

2,210,681

13,015

18,673

2,242,369

At 31 December 2024

2,577,155

25,794

4,705

2,607,654

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

746,754

891,085

Other debtors

48,539

158,452

795,293

1,049,537

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

547,111

541,931

Taxation and social security

170,599

84,007

Other creditors

98,900

384,562

816,610

1,010,500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

61,351

78,854

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

120,000

120,000

Between one and five years

480,000

480,000

In more than five years

360,000

480,000

960,000

1,080,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors are interest-free loans from the directors, which are unsecured and repayable on demand. The balances at the year-end were as follows:

J T Gray £Nil (2024 - £97,565)

W Gray £Nil (2024 - £79,998)

G P Gray £Nil (2024 - £122,099)

10.	RELATED PARTY DISCLOSURES

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 directors are also directors of C.A.M. (Production Engineers) Limited.

During the year C.A.M. (Production Engineers) Limited charged rent to Machined Component Systems Limited in the sum of £120,000 (2024: £120,000). In addition Machined Component Systems Limited charged a management fee to the company amounting to £Nil (2024:£70,350).

Included in other debtors is an amount of £Nil (2024: £108,164) owed by C.A.M. (Production Engineers) Limited.

11.	POST BALANCE SHEET EVENTS

In May 2026, the entire issued share capital of the Company was transferred to C.A.M. (Production Engineers) Limited in exchange for the issue of 15,000 ordinary shares in C.A.M. (Production Engineers) Limited to the Company's shareholders. The consideration attributable to the shares transferred was £2,631,525.60.

Following the transaction, the Company became a wholly owned subsidiary of C.A.M. (Production Engineers) Limited.

The transaction occurred after the reporting date and has therefore not been reflected in these financial statements.