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Registered number:
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
COMPANY INFORMATION
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BROMFORD PRECISION SOLUTIONS LIMITED
CONTENTS
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BROMFORD PRECISION SOLUTIONS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2026
The Directors present the Strategic Report together with Directors' report and audited financial statements for Bromford Precision Solutions Limited for the year ended 30 April 2026.
Business review Bromford Precision Solutions, based in Leicester, UK, is a strategic supplier to aerospace, defence and power generation sectors. The principal activity of the company remains that of high precision machining, testing and assembly of critical aerospace engine structures as well as gas turbine ring components. Revenue is generated through long-term supply agreements. The Company was acquired by RCapital in August 2023, providing financial stability and strategic support. Following the acquisition and subsequent restructuring, the Company's key management team has delivered a significant operational turnaround, with the business returning to profitability in the year under review. The Company is committed to strengthening relationships with all stakeholders through proactive communications and improved engagement, and its trading partners have continued to be very supportive of the business. Sound execution of corporate objectives by management coupled with improved trading performance and cash generation have eliminated the Company's reliance on customer-funded support, with working capital now financed principally from the Company's own operating cashflow. Product quality remains one of the top priorities of the business. Apart from holding certifications to AS9100, IS14001, NADCAP and RR SABRe, management continuously reviews and improves its quality management strategy — one of the key aspects underpinning our success and future growth. Management is also committed to maintaining competitive edge by investing in new equipment and infrastructure to enhance plant capacity to support development of advanced manufacturing techniques. The leadership team at Bromford Precision Solutions has also been heavily focused on driving operational efficiencies, implementing process improvement strategies to increase productivity, eliminate waste and unlock operational capacity. Throughout the year the Company has enjoyed steadily increasing productivity and labour efficiency rates, coupled with a shortening working capital cycle. In a bid to reduce production costs and improve operational control, site management continues its strategic program to bring certain key manufacturing processes back in-house. All improvement initiatives employed have made a positive impact on the Company's sales. Owing to the Company's outstanding reputation for high-quality precision engineering and reliable delivery, the Company secured a new long term trading agreement with its key customer, materially expanding its order book. The Company is now well positioned to accept further work packages, building on its strengths to support continued growth.
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BROMFORD PRECISION SOLUTIONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
Market review and developments
The aerospace manufacturing market has continued to grow robustly through the year, with demand from commercial aviation, defence and power generation customers outstripping the industry's capacity to deliver. Record order backlogs at the major airframers and engine OEMs remain the dominant feature of the market. The principal constraint on growth has increasingly been the industry's ability to convert this demand into deliveries, rather than any weakness in underlying demand. One of the Company’s key customers reported a strong trading performance during the year, with continued growth in civil aerospace engine demand and a strengthening defence business. UK defence spending is also on a clear upward trajectory, rising from 2.3% of GDP in 2024 towards a government commitment of 2.5%-2.6% by 2027, 3.0% in the next Parliament, and a NATO commitment of 3.5% by 2035 — a sustained, structural increase in the funding available to the defence and aerospace supply chains of which the Company forms part. A significant emerging development during the year has been the growth of data centre power generation as a new source of demand for gas turbine technology, driven by the rapid expansion of artificial intelligence infrastructure. Key customers in the power generation sector are expanding into this market and are already securing orders for future delivery, representing a material new avenue of growth for the Company's gas turbine component business, alongside its traditional aerospace and defence markets. The aerospace sector continues to attract substantial investment as the industry works to decarbonise air travel, driving development of low emission technologies such as hybrid/electric propulsion and sustainable aviation fuels, alongside the wider adoption of AI tools, robotics and automation to improve quality, reduce costs and increase production capacity. Persistent supply chain constraints — including the availability of certified labour, test capacity and critical raw materials — together with continued geopolitical uncertainty, have supported ongoing reshoring trends, with businesses increasingly favouring UK-based precision engineering suppliers such as Bromford Precision Solutions. The Company therefore operates in a market with significant opportunities for growth across aerospace, defence and power generation. Directors are confident that the Company is well placed to build on its strengthened financial position and expanding order book to solidify its position as a leading supplier of precision engineered solutions.
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BROMFORD PRECISION SOLUTIONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
The leadership team assesses and manages any risk the organisation is facing as part of monthly board meetings.
The Board of Directors are responsible for setting the correct level of risk appetite the Company wishes to accept in the course of achieving its corporate objectives, as well as nurturing and embedding a risk management culture into business operations. Directors at Bromford Precision Solutions stress the importance and promote adoption of professional ethics across all business levels. The Company maintains a detailed risk register where identified risks are listed along with measures taken to control and mitigate them. The risk register is reviewed and updated periodically by the management team. Common to the aerospace and defence industries, the Company operates with a degree of customer concentration, deriving revenue from its top two customers. Whilst this can be perceived as a risk, it reflects the nature of the Company's markets and long-term strategic and contractual relationships. To mitigate, management actively monitors this exposure and continues to provide extensive revenue forecasts. The Company's close integration with its key customers enables it to improve efficiencies, standardise quality and drive closer collaboration. A strengthened order book, reflecting the new trading agreement secured, provides further comfort around this risk. Following successful turnaround and achieving operational stability, Directors are now interested in diversifying the Company's product portfolio, actively pursuing opportunities to quote for new work and broaden the Company's customer base over time. The business operates within a global aerospace supply chain that remains vulnerable to disruption due to supplier capacity constraints, long lead times and limited availability of specialised components, including critical raw materials. Industry-wide certification and test capacity constraints have continued to affect the wider sector during the year. Management continues to monitor these risks closely and has implemented mitigation strategies, including supplier diversification, where feasible, forward purchasing, contractual price review mechanisms, and ongoing cost control initiatives. Whilst wage inflation is largely offset against increasing labour efficiency, material price increases are subject to pass-through agreements minimising additional costs. Membership of the wider Sigma Advanced Systems group is expected to ease some of these pressures over time, providing access to a broader global supplier panel and greater purchasing leverage than the Company could achieve independently. The business is exposed to skilled labour shortages due to limited availability of qualified personnel, a challenge common across the manufacturing sector. Bromford prides itself on being an equal opportunities employer and recognises the importance of a well-motivated and satisfied workforce. Management is committed to attracting and retaining talent, providing all employees with ongoing training, support and opportunities for career progression. High staff morale has continued to support productivity and contributed to revenue growth during the year. The Company's currency risk has reduced significantly during the year, following the renegotiation of pricing arrangements with the Company's largest customer onto a predominantly GBP basis. This is reflected in exchange differences recognised in the year of £51,338 (2025: £136,211), a reduction of 62%. Residual foreign currency risk is managed principally through natural hedging, using foreign currency cash flows to offset foreign currency denominated supplier payments, reducing the Company's reliance on external hedging instruments. The age profile of the Company's workforce presents a longer-term risk for the Company. A proportion of the Company's skilled workforce is approaching retirement age, which could increase the risk of losing valuable skills and industry knowledge over time. The Directors are increasingly focused on succession planning and knowledge transfer to mitigate this exposure. The Company continues to plan the introduction of an apprenticeship programme to support the development of the next generation of engineers and specialists.
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BROMFORD PRECISION SOLUTIONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
Following the acquisition of the Company by Sigma Advanced Systems UK Limited after the year end, the Company is exposed to a degree of integration risk as it becomes established within the wider Sigma Advanced Systems group. This includes risks around aligning systems, governance and reporting processes, and ensuring continuity of service to key customers throughout the transition. The Directors are working closely with the wider group to manage this transition and do not currently consider it to present a material risk to the Company's operations.
The Company prepares detailed forecasts and comprehensive management accounts for review by Directors.
The management information pack also includes a broad range of key performance indicators to promptly notify management of any corrective actions necessary. During the year, the Company operated in a challenging economic environment characterised by cost inflation, supply chain disruption and ongoing skills shortages within the manufacturing sector. 2026 2025 2024 Turnover £17,817,643 £13,564,353 £8,527,862 Gross Profit £7,833,609 £5,502,648 £3,032,309 Gross Profit Margin 44.0 % 40.6 % 35.6% The financial results of the Company are reported on page 12. The Company reported turnover of £17,817,643 (2025: £13,564,353), representing growth of 31% on the prior year. This reflects an improving order book, continued strengthening of relationships with key customers and disciplined pricing, together with the increased production throughput. Gross profit margin increased to 44.0% (2025: 40.6%), reflecting continued improvements in labour efficiency and production discipline, converting an increasing proportion of sales into profit. Administrative expenses increased to £6,632,151 (2025: £5,812,675), reflecting the increased scale of the business. This growth was significantly lower than the growth in turnover, however, with administrative expenses falling to 37.2% of turnover (2025: 42.9%) — evidence of improving operating leverage as the business grows. As a result, the Company returned to profitability during the year, reporting an operating profit of £1,201,458 (2025: operating loss of £310,027) and a profit for the financial year, after taxation, of £964,389 (2025: loss of £477,495). Based on current trading and market conditions, the Directors are confident that the Company will build on this year's return to profitability, delivering further improvements in profitability and cash generation in the year ahead.
During the year, the Company continued to operate on normal trade credit terms with its key suppliers, reflecting its strengthened financial position and sustained profitability, which has further supported operational flexibility and efficient working capital management.
The Board of Directors of the Company have undertaken an assessment of the ability of the Company to continue in operation and to meet liabilities as they fall due. In making this assessment, the Directors have considered trading and cashflow forecasts which reflect the latest market intelligence and customer long term supply arrangements, supply schedules and order books. As at the balance sheet date, the Company owed £1,360,000 to a company under common control (2025: £1,625,000). The Board of Directors of the then ultimate controlling entity had confirmed that no repayment
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BROMFORD PRECISION SOLUTIONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
would be requested in respect of this facility for a period of at least 12 months from the date of approval of the financial statements, unless the Company was in a position to do so without prejudice to its working capital requirements.
The Directors have concluded that the Company's improved trading performance and cash generation during the year are sufficient to enable the Company to meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Therefore, Directors have accordingly concluded that it is appropriate to prepare these financial statements on a going concern basis. On 22 July 2026, 100% of the Company's issued share capital was acquired by Sigma Advanced Systems UK Limited. Following the acquisition, the Company became a subsidiary within the wider Sigma Advanced Systems group. This event occurred after the balance sheet date and does not affect the recognition or measurement of assets and liabilities in these financial statements as at 30 April 2026. The Directors consider the acquisition to be a positive development. Bromford Precision Solutions Ltd is now part of globally integrated precision manufacturing platform, combining the Company's specialist capabilities in aero engine rings, casings and structural components with the wider group's manufacturing scale and engineering expertise across the UK and India. The Directors expect this to enhance the Company's supply chain resilience, broaden its ability to support customers from early-stage development through to full production, and strengthen its standing within its key customers’ supply chains, while providing access to wider group investment capacity to support continued growth. As part of the acquisition, the balance of £1,360,000 owed to the former related party at the balance sheet date was restructured onto scheduled repayment terms, with the balance now being repaid on a monthly basis. The Directors do not consider this restructuring to have a material adverse effect on the Company's ability to meet its obligations as they fall due. Since the year end, the Company has received a letter of support from its ultimate parent, a global organisation with access to international capital markets, confirming its commitment to provide ongoing financial support to the Company, where required. As at 14 October 2026, the Company is finalising its invoice discounting agreement with Citibank Europe Plc in respect of a large part of the Company’s trade receivables. Once live, this is expected to accelerate the Company’s cash collections and further strengthen its financial position. The Company also holds a balance within accruals and deferred income in respect of customer-funded working capital support provided by a key customer, further details of which are given in note 21 to the financial statements. Since the year end, formal repayment terms have been agreed, under which the balance now repayable, amounting to £2,961,611, will be repaid between January 2027 and December 2027. There have been no significant events affecting the Company since the year end.
This report was approved by the board on 26 October 2026 and signed on its behalf.
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BROMFORD PRECISION SOLUTIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2026
The directors present their report and the financial statements for the year ended 30 April 2026.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £964,389 (2025 - loss £477,495).
No dividends were paid during the year and no dividend is recommended by the directors.
The directors who served during the year were:
The Directors have chosen to set out in the strategic report information required to be stated in the Directors report including a review of the business and principal risks and uncertainties.
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BROMFORD PRECISION SOLUTIONS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
The auditors, PKF Smith Cooper Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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BROMFORD PRECISION SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROMFORD PRECISION SOLUTIONS LIMITED
We have audited the financial statements of Bromford Precision Solutions Limited (the 'Company') for the year ended 30 April 2026, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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BROMFORD PRECISION SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROMFORD PRECISION SOLUTIONS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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BROMFORD PRECISION SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROMFORD PRECISION SOLUTIONS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Company and industry, we identified the key laws and regulations affecting the Company are:
∙Health and safety and employment legislation.
We identified that the principal risk of fraud or non-compliance with laws and regulations related to:
∙Management bias in respect of accounting estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
We focussed on those areas that could give rise to a material misstatement in the Company financial statements.
Our procedures included, but were not limited to:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud;
∙Reviewing minutes of meetings of those charged with governance, where available;
∙Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias, in particular the valuation of stock and the release of negative goodwill.
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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BROMFORD PRECISION SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROMFORD PRECISION SOLUTIONS LIMITED (CONTINUED)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditors
Cornerblock
2 Cornwall Street
B3 2DX
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BROMFORD PRECISION SOLUTIONS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
REGISTERED NUMBER: 14332641
BALANCE SHEET
AS AT 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
REGISTERED NUMBER: 14332641
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 35 form part of these financial statements.
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BROMFORD PRECISION SOLUTIONS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Bromford Precision Solutions Limited is a private company, limited by shares, registered in England and Wales, United Kingdom. The company's registration number and registered office address can be found on the company information page.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The presentation currency of these financial statements is Sterling. All amounts in the financial statements have been rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The current economic conditions present risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including the assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.
The directors have assessed the Company's future trading expectations which show that the Company expects to operate within the level of its working capital. The directors, therefore have a reasonable expectation that they have adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the annual report and financial statements.
Monetary assets and liabilities in foreign currencies are translated into Sterling at the rates of exchange ruling at the balance sheet date.
Revenues and costs expressed in foreign currencies are translated into Sterling rates of exchange on the date on which the transaction occurs, except for transactions to be settled at a contracted rate. Differences arising on the translation of such items are dealt within the Statement of comprehensive income.
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Goodwill
Goodwill represents the difference between amounts paid on the cost of business combinations and the acquirer's interest in the fair value of the company's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Negative goodwill arises where the purchase price of the business combination is below the fair value of the company's share of its identifiable assets and liabilities of the acquiree on acquisition. Subsequent to initial recognition, negative goodwill is recognised in the Statement of comprehensive income over the period in which the non-monetary assets acquired are recovered. Negative goodwill on the non-monetary assets acquired is amortised through the Statement of comprehensive income on the following basis:
∙Tangible fixed assets - as recovered, based on the depreciation or disposal of the relevant assets of acquired.
∙Stock - as recovered based on the sale or disposal of stock of the acquired.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
The Company only enters into basic financial instruments 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 ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
The Directors consider that the following are critical judgements in applying the Company's accounting policies. Carrying value of stocks One key source of estimation uncertainty at the balance sheet date relates to the carrying value of stock and work in progress. Management continually assesses the recoverability of its assets in light of customer demand. At the Balance Sheet date, the carrying value of stock net of provision for slow moving and obsolete stock is £4,766,437 (2025 - £4,864,240). Negative goodwill The Directors have assessed the period over which the negative goodwill, which has arisen on a business combination, should be released. A review of the non-monetary assets which were acquired as part of the business combination which were tangible fixed assets and stock, was performed and the directors have made an appropriate assessment as to the value of non-monetary assests which have been recovered up to the balance sheet date and have calculated the amount of negative goodwill which should be released up to the year end. The directors continue to assess the period over which the non-monetary assets will be recovered and will make appropriate judgements in future periods. At the Balance Sheet date, the carrying value of negative goodwill is £744,034 (2025 - £816,641).
The whole of the turnover is attributable to the principal activity of the Company.
Analysis of turnover by country of destination:
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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BROMFORD PRECISION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
10.Taxation (continued)
The company has estimated losses of £141,000 (2025 - £850,000) available for carry forward against future trading profits.
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