REGISTERED NUMBER: 14084479 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

SHIELD MANUFACTURING TECHNOLOGIES

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Cooper

C R F Shield

M A Hobday

REGISTERED OFFICE:

First Floor

One Colton Square

Leicester

LE1 1QH

REGISTERED NUMBER:

14084479 (England and Wales)

FIXED ASSETS

Intangible assets

4

675,000

775,000

Tangible assets

5

1,147,932

1,989,738

1,822,932

2,764,738

CURRENT ASSETS

Stocks

1,322,698

1,886,334

Debtors

6

5,016,310

1,064,085

Cash at bank

13

1,501

6,339,021

2,951,920

CREDITORS

Amounts falling due within one year

7

(9,641,389

)

(5,211,032

)

NET CURRENT LIABILITIES

(3,302,368

)

(2,259,112

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,479,436

)

505,626

CREDITORS

Amounts falling due after more than one year

8

-

(110,500

)

NET (LIABILITIES)/ASSETS

(1,479,436

)

395,126

CAPITAL AND RESERVES

Called up share capital

4,975,595

4,975,595

Retained earnings

(6,455,031

)

(4,580,469

)

(1,479,436

)

395,126

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 27 October 2026 and were signed on its behalf by:

C R F Shield - Director

1.	STATUTORY INFORMATION

Shield Manufacturing Technologies Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is First Floor, One Colton Square, Leicester, LE1 1QH and the registered number is 14084479.

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 £.

Going concern

The financial statements have been prepared on a going concern basis as Shield Engineering (Syston) Limited, a related party controlled by C R F Shield, has confirmed to the directors that they will provide support, if required to enable the Company to continue in operation for the foreseeable future, being not less than twelve months from the date of approval of these financial statements. Shield Manufacturing Technologies Limited will draw on funds available as required. Accordingly, the directors have determined that it is appropriate to prepare these financial statements on a going concern basis.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised when goods are despatched.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

- 15% straight line

Fixtures and fittings

- 15% on reducing balance

Computer equipment

- 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 and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

1,000,000

AMORTISATION

At 1 November 2024

225,000

Charge for year

100,000

At 31 October 2025

325,000

NET BOOK VALUE

At 31 October 2025

675,000

At 31 October 2024

775,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2024

2,462,201

34,651

5,163

2,502,015

Additions

51,169

-

1,467

52,636

Disposals

(744,698

)

-

-

(744,698

)

At 31 October 2025

1,768,672

34,651

6,630

1,809,953

DEPRECIATION

At 1 November 2024

508,022

2,353

1,902

512,277

Charge for year

318,189

4,860

1,627

324,676

Eliminated on disposal

(174,932

)

-

-

(174,932

)

At 31 October 2025

651,279

7,213

3,529

662,021

NET BOOK VALUE

At 31 October 2025

1,117,393

27,438

3,101

1,147,932

At 31 October 2024

1,954,179

32,298

3,261

1,989,738

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

1,976

Amounts owed by group undertakings

767,600

-

Amounts owed by participating interests

4,236,117

721,723

Other debtors

400

71,464

VAT

-

259,151

Prepayments and accrued income

12,193

9,771

5,016,310

1,064,085

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

102,000

Trade creditors

113,164

236,990

Amounts owed to participating interests

9,466,287

4,823,766

Social security and other taxes

13,420

18,558

VAT

23,836

-

Accruals and deferred income

24,682

29,718

9,641,389

5,211,032

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

110,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

-

212,500

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the 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 members of the group.

Income from related parties

During the year the company made sales of £439,366 (2024 - £242,764) to entities under the control of C R F Shield.

Purchases from related parties

During the year the company purchased goods of £961,373 (2024 - £116,927) to entities under the control of C R F Shield.

Amounts owed by related parties

At the year end the company was owed £4,236,117 (2024 - £721,723) by entities under the control of C R F Shield.

Amounts owed to related parties

At the year end the company owed £9,466,287 (2024 - £4,823,766) to entities under the control of C R F Shield.