REGISTERED NUMBER: 03756658

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPECIALIST MICROWAVE SOLUTIONS LTD

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

A R Dewey

S P Jenkins

N S Mead

SECRETARY:

N S Mead

REGISTERED OFFICE:

Derwent House

Cranfield Technology Park

Cranfield

Bedfordshire

MK43 0AZ

REGISTERED NUMBER:

03756658

ACCOUNTANTS:

F E Hawkes & Co

206 Endeavour House

Wrest Park

Silsoe

Bedfordshire

MK45 4HS

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2025 set out on pages four to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

F E Hawkes & Co

206 Endeavour House

Wrest Park

Silsoe

Bedfordshire

MK45 4HS

17 November 2025

FIXED ASSETS

60,018

Tangible assets

5

86,358

CURRENT ASSETS

188,622

Stocks and work in progress

6

420,607

407,838

Debtors

7

417,557

471,181

Cash at bank

681,313

1,067,641

1,519,477

CREDITORS

387,331

Amounts falling due within one year

8

566,372

680,310

NET CURRENT ASSETS

953,105

740,328

TOTAL ASSETS LESS CURRENT LIABILITIES

1,039,463

14,736

PROVISIONS FOR LIABILITIES

21,369

725,592

NET ASSETS

1,018,094

CAPITAL AND RESERVES

300

Called up share capital

10

300

725,292

Retained earnings

11

1,017,794

725,592

SHAREHOLDERS' FUNDS

1,018,094

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2025 and were signed on its behalf by:

S P Jenkins - Director

1.	STATUTORY INFORMATION

Specialist Microwave Solutions Ltd is a private company, limited by shares, registered in England and Wales.

The company's registered number and registered office address are as follows

Registered number: 03756658

Registered office: Derwent House

Cranfield Technology Park

Cranfield

Bedfordshire

MK43 0AZ

The presentation currency of the financial statements is Pound Sterling (£)

The principal activity of the company in the year under review was that of development, construction,testing

and repair of microwave components.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.33% on reducing balance

Improvements to property are being written off in the year the expense is incurred

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.

Financial instruments

Basic financial instruments are recognised at amortised cost,except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 12 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

Totals

property

machinery

fittings

equipment

£

£

£

£

£

COST

At 1 April 2024

369,083

12,605

313,187

7,997

35,294

Additions

48,974

-

23,937

1,176

23,861

Disposals

(9,152

)

-

-

-

(9,152

)

At 31 March 2025

408,905

12,605

337,124

9,173

50,003

DEPRECIATION

At 1 April 2024

309,065

12,605

264,724

7,214

24,522

Charge for year

22,036

-

16,268

339

5,429

Eliminated on disposal

(8,554

)

-

-

-

(8,554

)

At 31 March 2025

322,547

12,605

280,992

7,553

21,397

NET BOOK VALUE

At 31 March 2025

86,358

-

56,132

1,620

28,606

At 31 March 2024

60,018

-

48,463

783

10,772

6.	STOCKS AND WORK IN PROGRESS

2025

2024

£

£

Stocks and work in progress

420,607

188,622

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

391,867

396,527

Prepayments

25,690

11,311

417,557

407,838

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

142,971

25,258

Corporation tax

317,794

192,061

Social security and other taxes

15,000

12,510

VAT

59,646

111,397

Other creditors

2,779

2,101

Directors' loan accounts

-

27,000

Accrued expenses

28,182

17,004

566,372

387,331

9.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

60,180

58,140

Between one and five years

204,000

232,560

In more than five years

-

92,093

264,180

382,793

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

300

Ordinary

£1.00

300

300

11.

RESERVES

Retained

earnings

£

At 1 April 2024

725,292

Profit for the year

973,502

Dividends

(681,000

)

At 31 March 2025

1,017,794

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £567,500 (2024 - £212,500) were paid to the directors .