IRIS Accounts Production
v22.1.0.628
09484815
Board of Directors
Board of Directors
1.6.21
31.5.22
31.5.22
false
true
false
false
false
true
false
Ordinary shares
1.00000
A, B, C, D Ordinary
1.00000
1.00000
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REGISTERED NUMBER: 09484815 (England and Wales) |
| INSTRUMENTATION SYSTEMS & SERVICES | |
| UNAUDITED FINANCIAL STATEMENTS | |
| FOR THE YEAR ENDED 31ST MAY 2022 | |
Notes to the Financial Statements |
3 |
|
to |
|
6 |
Tangible assets |
5 |
129,066 |
|
38,938 |
|
|
Debtors |
6 |
109,941 |
|
198,075 |
|
|
Cash at bank |
42,149 |
|
68,498 |
|
|
Amounts falling due within one year |
7 |
204,964 |
|
285,522 |
|
|
NET CURRENT (LIABILITIES)/ASSETS |
(893 |
) |
28,163 |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
128,173 |
|
67,101 |
|
|
Amounts falling due after more than one year |
8 |
(64,913 |
) |
(20,870 |
) |
|
PROVISIONS FOR LIABILITIES |
(16,066 |
) |
- |
|
|
Called up share capital |
11 |
220 |
|
200 |
|
|
Capital redemption reserve |
20 |
|
- |
|
|
Retained earnings |
46,954 |
|
46,031 |
|
|
SHAREHOLDERS' FUNDS |
47,194 |
|
46,231 |
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2022 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 11th August 2022 and were signed on its behalf by: |
|
Instrumentation Systems & Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below: |
|
Registered number: |
09484815 |
|
Registered office: |
3365 Century Way |
|
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 presented in sterling which is the functional currency of the company and rounded to the nearest £. |
|
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of four years. |
| Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Plant and machinery | | 20% reducing balance | | |
| Office equipment | | 20% reducing balance | | |
| Fixtures and fittings | | 20% reducing balance | | |
| Motor vehicles | | 25% on cost | | |
| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals model. |
|
Stock is valued at the lower of cost and net realisable value. |
| 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 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. |
|
Debtors and creditors receivable / payable within one year |
|
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. |
EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was 8 (2021 - 9 ) . |
4. |
INTANGIBLE FIXED ASSETS |
|
and 31st May 2022 |
122,500 |
|
|
|
and 31st May 2022 |
122,500 |
|
|
|
Eliminated on disposal |
(45,954 |
) |
|
6. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade debtors |
98,852 |
|
184,970 |
|
|
|
Other debtors |
11,089 |
|
13,105 |
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Hire purchase contracts (see note 9) |
18,033 |
|
3,344 |
|
|
|
Trade creditors |
160,177 |
|
244,967 |
|
|
|
Taxation and social security |
18,730 |
|
28,357 |
|
|
|
Other creditors |
8,024 |
|
8,854 |
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
|
|
Hire purchase contracts (see note 9) |
52,104 |
|
14,346 |
|
|
|
Other creditors |
12,809 |
|
6,524 |
|
|
|
Minimum lease payments fall due as follows: |
|
|
Non-cancellable operating leases |
|
|
Between one and five years |
|
|
|
|
|
|
|
Included within creditors are hire purchase agreements totalling £70,136 (2021: £17,960). The agreements are secured against the assets to which they relate. |
11. |
CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
|
Number: |
Class: |
Nominal |
2022 |
2021 |
|
|
200 |
Ordinary shares |
£1 |
180 |
|
200 |
|
|
|
40 |
A, B, C, D Ordinary |
£1 |
40 |
|
- |
|
|
|
40 A, B, C, D Ordinary shares of £1 each were allotted and fully paid for cash at par during the year. |