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REGISTERED NUMBER: 09484815 (England and Wales)










INSTRUMENTATION SYSTEMS & SERVICES
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2022






INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2022










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

BALANCE SHEET
31ST MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 129,066 38,938
129,066 38,938

CURRENT ASSETS
Stocks 51,981 47,112
Debtors 6 109,941 198,075
Cash at bank 42,149 68,498
204,071 313,685
CREDITORS
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

CREDITORS
Amounts falling due after more than one year 8 (64,913 ) (20,870 )

PROVISIONS FOR LIABILITIES (16,066 ) -
NET ASSETS 47,194 46,231

CAPITAL AND RESERVES
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.

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

BALANCE SHEET - continued
31ST MAY 2022


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:




S M Kelly - Director



N L Kelly - Director


INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2022


1. STATUTORY INFORMATION

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
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB

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

Goodwill
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
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 machinery20% reducing balance
Office equipment20% reducing balance
Fixtures and fittings20% reducing balance
Motor vehicles25% on cost

Government grants
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.

Stocks
Stock is valued at the lower of cost and net realisable value.


INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2022


2. ACCOUNTING POLICIES - continued
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.

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
Goodwill
£   
COST
At 1st June 2021
and 31st May 2022 122,500
AMORTISATION
At 1st June 2021
and 31st May 2022 122,500
NET BOOK VALUE
At 31st May 2022 -
At 31st May 2021 -

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2022


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2021 111,357
Additions 114,859
Disposals (55,678 )
At 31st May 2022 170,538
DEPRECIATION
At 1st June 2021 72,419
Charge for year 15,007
Eliminated on disposal (45,954 )
At 31st May 2022 41,472
NET BOOK VALUE
At 31st May 2022 129,066
At 31st May 2021 38,938

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 98,852 184,970
Other debtors 11,089 13,105
109,941 198,075

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
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
204,964 285,522

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 9) 52,104 14,346
Other creditors 12,809 6,524
64,913 20,870

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2022


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:


Non-cancellable operating
leases
2022 2021
£ £
21,263 16,883
Within one year 79,734 -
Between one and five years
100,997 16,883

10. SECURED DEBTS

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
value: £    £   
200 Ordinary shares £1 180 200
40 A, B, C, D Ordinary £1 40 -
220 200

40 A, B, C, D Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.