1.
General Information
FSG Tool & Die Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
00680756
. The registered office is Unit 5 , Llantrisant Business Park, Llantrisant, Mid Glamorgan, CF72 8LF.
These financial statements are presented in pounds sterling (£), which is the company’s functional and presentational currency. All amounts are rounded to the nearest pound unless otherwise stated.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
• the requirements of Section 7 Statement of Cash Flows;
• the requirement of paragraph 3.17(d);
• the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
• the requirement of paragraph 33.7.
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.
2.2.
Significant judgements and estimations
The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results may differ from these estimates.
The following estimates are considered to have the most significant effect on the amounts recognised in the financial statements:
Defined benefit pension scheme
The defined benefit pension liability is determined using actuarial valuations. This requires assumptions to be made regarding discount rates, inflation, mortality rates and investment returns.
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Management reviews inventory for slow moving, obsolete or damaged items and provides against amounts not expected to be recovered.
Trade debtors
A provision is made for amounts not expected to be recovered from trade debtors, based on management’s assessment of customer circumstances, ageing and historic collection experience.
Depreciation
Depreciation is charged over the estimated useful lives of tangible fixed assets. Management reviews useful lives and residual values annually.
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Development costs are being amortised evenly over their estimated useful life of five years.
Computer software is being amortised evenly over its estimated useful life of three years.
2.5.
Research and Development
Research costs are expensed to the Profit and Loss Account and costs directly attributable to Development are capitalised. Development costs are subsequently measured at cost less any accumulated amortisation and any accumulated impairment losses.
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|
Asset Class
|
Depreciation method and rate
|
|
Freehold property
|
2% per annum straight line
|
|
Plant & machinery
|
at varying rates of 10%, 20% and 33% per annum straight line
|
|
Fixtures & fittings
|
at varying rates of 20% and 33% per annum straight line
|
|
Motor vehicles
|
25% per annum straight line
|
2.7.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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 as incurred.
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
2.8.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
2.9.
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.10.
Financial Instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, including trade and other debtors and cash and cash equivalents, are initially recognised at transaction price and subsequently measured at amortised cost, less any impairment losses.
Basic financial liabilities, including trade and other creditors and borrowings, are initially recognised at transaction price, less directly attributable transaction costs where applicable, and subsequently measured at amortised cost using the effective interest method.
Interest expense, including the amortisation of transaction costs, is recognised in the profit and loss account over the term of the borrowing using the effective interest method.
2.11.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.12.
Taxation
2.12.
Taxation - continued
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
...CONTINUED
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
Deferred tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.13.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Defined benefit pension obligation
Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of the plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability. Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.
3.
Other Operating Income
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Grant income |
|
|
|
| 4,167 | 10,000 | ||
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
4.
Operating Profit
The operating profit is stated after charging:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | - | (91,454) | |
| Operating lease rentals |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
| Other Services | |||
| Taxation compliance service |
|
|
|
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
7.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
| Manufacturing |
|
|
|
|
|
|
||
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
8.
Directors' remuneration
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
Information regarding the highest paid director was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
9.
Interest Receivable and Similar Income
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
10.
Interest Payable and Similar Charges
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Finance charges payable under finance leases and hire purchase contracts | 23,632 | 25,854 | |
| Other finance charges |
|
|
|
| 100,632 | 114,854 | ||
Other finance charges breakdown:
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Interest on defined benefit pension
|
(77,000)
|
(89,000)
|
|
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
||
|
(77,000)
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
(89,000)
|
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
11.
Tax on Profit
The tax credit on the profit for the year was as follows:
| Tax Rate | 2026 | 2025 | |||
|---|---|---|---|---|---|
| 2026 | 2025 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
( |
( |
|
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
( |
( |
|||
Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:
| 2026 | 2025 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 241,220 | 49,962 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
( |
( |
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
|
|||
| Research and Development tax credit |
|
|
|||
| Changes in pension fund prepayment |
( |
( |
|||
| Tax incentives |
( |
( |
|||
| Revenue exempt from taxation |
|
( |
|||
| Total tax charge for the period | (367,720) | (46,763) | |||
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
Tax effects relating to effects of other comprehensive income
|
2026
|
|||
|
Gross
|
Tax
|
Net
|
|
|
£
|
£
|
£
|
|
|
Gain/(loss) on defined benefit position
|
(12,000)
|
3,000
|
(9,000)
|
|
2025
|
|||
|
Gross
|
Tax
|
Net
|
|
|
£
|
£
|
£
|
|
|
Gain/(loss) on defined benefit position
|
382,000
|
(95,500)
|
286,500
|
12.
Intangible Assets
| Computer Software | Development Costs | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 March 2025 |
|
|
|
| Additions |
|
|
|
| As at 28 February 2026 |
|
|
|
| Amortisation | |||
| As at 1 March 2025 |
|
|
|
| Provided during the period |
|
|
|
| As at 28 February 2026 |
|
|
|
| Net Book Value | |||
| As at 28 February 2026 |
|
|
|
| As at 1 March 2025 |
|
|
|
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
13.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 March 2025 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| As at 28 February 2026 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 March 2025 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| As at 28 February 2026 |
|
|
|
|
|
| Net Book Value | |||||
| As at 28 February 2026 |
|
|
|
|
|
| As at 1 March 2025 |
|
|
|
|
|
Included in cost of land and buildings is freehold land of £363,000 (2025 - £363,000) which is not depreciated.
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Plant & Machinery |
|
|
|
14.
Stocks
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Raw Materials |
|
|
|
| Finished goods |
|
|
|
| Work in progress |
|
|
|
|
|
|
||
An impairment loss of £182,186 (2025: £457,430) was recognised in cost of sales against stock during the period due to slow-moving and obsolete stock.
There are no inventories pledged as security for liabilities.
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
15.
Debtors
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Corporation tax recoverable assets |
|
|
|
|
|
|
||
| Due after more than one year | |||
| Deferred tax current asset |
|
|
|
|
|
|
||
An impairment loss of £NIL (2025: £NIL) was recognised against trade debtors.
Deferred tax asset
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Accelerated capital allowances
|
(133,388)
|
(142,469)
|
|
|
Tax losses carried forward
|
239,021
|
-
|
|
|
Defined benefit pension
|
364,250
|
361,250
|
|
|
Freehold property
|
119,917
|
113,880
|
|
|
589,800
|
332,661
|
The amount of the net reversal of deferred tax expected to occur next year is £229,279 (2025: £281,359) relating to the reversal of existing timing differences on tangible fixed assets.
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
16.
Creditors: Amounts Falling Due Within One Year
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| PAYE & NI creditor |
|
|
|
| VAT |
|
|
|
| Deferred income |
|
|
|
| Deferred government grant | - |
|
|
| Pension | - |
|
|
| Accruals |
|
|
|
| Amounts owed to group undertakings |
|
|
|
|
|
|
||
17.
Creditors: Amounts Falling Due After More Than One Year
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
18.
Obligations Under Finance Leases and Hire Purchase
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
| Less: Finance charges allocated to future periods |
|
|
|
|
|
|
||
The hire purchase liabilities are secured against the assets to which they relate.
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
19.
Provisions for Liabilities
| Employee Benefit Obligations | Deferred Tax | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 March 2025 |
|
( |
1,112,339 |
| Additions |
|
|
12,000 |
| Utilised |
|
( |
(257,139) |
| Balance at 28 February 2026 |
|
( |
867,200 |
Further details of the employee benefit obligations are set out in note 26
21.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years | - |
|
|
|
|
|
||
22.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £168,478 (2025: £175,416).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
23.
Reserves
The share premium account represents the premium received on the issue of shares, less any amounts capitalised or otherwise utilised in accordance with the Companies Act 2006.
The capital redemption reserve arose on the redemption of the company’s own shares. It is generally treated as if it were paid up share capital and is not distributable.
24.
Controlling Parties
The company's immediate parent undertaking is
FSG Tool & Die Holdings Ltd
.
The ultimate parent undertaking and that of the smallest and largest group for which group accounts are drawn up of which the company is a member is
FSG Tool & Die Holdings Ltd
(incorporated in England & Wales). Its registered office is
Unit 5, Llantrisant Business Park, Llantrisant, Mid Glamorgan, CF72 8LF
.
Copies of the group accounts may be obtained from the company's registered office.
The company's ultimate controlling party is
FSG Tool & Die Holdings Ltd
by virtue of their interest in the share capital of the company.
25.
Employee Benefit Obligations
FSG Tool & Die operates a pension scheme for all qualifying employees. The assets of the Scheme are held in a separate trustee administered fund. The Scheme close to future accrual on 31 May 2006. A schedule of contributions is agreed between the Company and the trustees after each comprehensive actuarial valuation.
The most recent comprehensive actuarial valuation took place as at 5 April 2024. Under the agreed schedule of contributions, the Company shall pay contributions of £120,000 per annum, increasing by 5% at 1 April 2026 and at each subsequent 1 April, until 31 July 2035.
The amounts recognised in the balance sheet are as follows:
|
Defined benefit pension plans
|
|||
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Present value of funded obligations
|
(6,494,000)
|
(6,729,000)
|
|
|
Fair value of plan assets
|
5,037,000
|
5,284,000
|
|
|
(1,457,000)
|
(1,445,000)
|
||
|
Present value of unfunded obligations
|
-
|
-
|
|
|
Deficit
|
(1,457,000)
|
(1,445,000)
|
|
|
Net liability
|
(1,457,000)
|
(1,445,000)
|
|
...CONTINUED
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
The amounts recognised in profit or loss are as follows:
|
Defined benefit pension plans
|
|||
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Net interest on net defined benefit
asset/liability
|
77,000
|
89,000
|
|
|
Administration expenses
|
28,000
|
39,000
|
|
|
Profit and loss charged / (credit)
|
105,000
|
128,000
|
|
|
Actual return on plan assets
|
188,000
|
172,000
|
|
Changes in the present value of the defined benefit obligation are as follows:
|
Defined benefit pension plans
|
|||
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Opening defined benefit obligation
|
6,729,000
|
7,285,000
|
|
|
Interest cost on defined benefit obligation
|
356,000
|
361,000
|
|
|
Benefits paid
|
(512,000)
|
(435,000)
|
|
|
Actuarial (gains)/losses on
liabilities
|
(79,000)
|
(482,000)
|
|
|
Defined benefit obligation at end of period
|
6,494,000
|
6,729,000
|
|
Changes in the fair value of scheme assets are as follows:
|
Defined benefit pension plans
|
|||
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Opening fair value of scheme assets
|
5,284,000
|
5,526,000
|
|
|
Interest income on scheme assets
|
279,000
|
272,000
|
|
|
Return less interest income on scheme assets
|
(91,000)
|
(100,000)
|
|
|
Contributions by employer
|
105,000
|
60,000
|
|
|
Benefits paid
|
(512,000)
|
(435,000)
|
|
|
Administrative costs
|
(28,000)
|
(39,000)
|
|
|
Fair value of scheme assets at end of period
|
5,037,000
|
5,284,000
|
|
...CONTINUED
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
The amounts recognised in other comprehensive income are as follows:
|
Defined benefit pension plans
|
|||
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Return less interest income on scheme assets
|
(91,000)
|
(100,000)
|
|
|
Actuarial gain / (loss) on liabilities
|
79,000
|
482,000
|
|
|
Remeasurement gain / (loss) recongised in OCI
|
(12,000)
|
382,000
|
|
The major categories of scheme assets as amounts of total scheme assets are as follows:
|
Defined benefit pension plans
|
|||
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Equities
|
1,772,000
|
2,062,000
|
|
|
Diversified growth funds
|
1,741,000
|
1,693,000
|
|
|
Liability driven investment
|
1,453,000
|
1,514,000
|
|
|
Cash
|
71,000
|
15,000
|
|
|
Fair value of scheme assets
|
5,037,000
|
5,284,000
|
|
Reconciliation of funded status:
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Opening surplus / (deficit)
|
(1,445,000)
|
(1,759,000)
|
|
|
Employer contributions
|
105,000
|
60,000
|
|
|
Credit / (charge) recorded in P&L
|
(105,000)
|
(128,000)
|
|
|
Gain / (loss) recorded in OCI
|
(12,000)
|
382,000
|
|
|
|
|
||
|
(1,457,000)
|
(1,445,000)
|
Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):
|
2026
|
2025
|
||
|
Discount rate
|
5.50%
|
5.50%
|
|
|
RPI inflation rate
|
3.00%
|
3.25%
|
|
|
Mortality rate
|
1.25%
|
1.00%
|
...CONTINUED
FSG Tool & Die Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2026
Further information on assumptions:
|
Main financial assumptions
|
28 February 2026
% per annum
|
28 February 2025
% per annum
|
|
Discount rate
|
5.50
|
5.50
|
|
Rate of price inflation:
- RPI
- CPI
|
3.00
2.50 |
3.25
2.75
|
|
Rate of increase for non-GMP pensions in deferment:
|
2.50
|
2.75
|
|
Rate of increase for pensions in payment:
- GMPs accrued from 06/04/88 to 05/04/97
- Non-GMPS accrued to 05/04/97
- Pensions accrued from 06/04/97
|
3.00
0.00
2.90
|
3.00
0.00
3.15
|
|
Mortality assumptions & life expectancies
|
28 February 2026
|
28 February 2025
|
|
Mortality:
- Base table
- Future improvements
- Long term rate
|
100% S4PA
CMI 2025 Core
1.25%
|
100% S4PA
CMI 2023 Core
1%
|
|
Expected future lifetime from age 65:
-Male currently aged 65
- Female currently aged 65
- Male currently aged 45
- Female currently aged 45
|
21.8
24.0
23.1
25.5
|
21.1
23.6
22.1
24.8
|
Under FRS 102 a surplus can only be recognised to the extent the company is able to recover the surplus, either through reduced contributions in the future or through refunds from the plan. Therefore, the recognised assets have been restricted to the value of the defined benefit obligation.