37
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
432,150
538,281
5,550
925
1,850
2,775
2,775
4,625
77
77
77
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xbrli:shares
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COMPANY REGISTRATION NUMBER:
06274550
Servotest Testing Systems Ltd |
|
Servotest Testing Systems Ltd |
|
Year ended 31 December 2021
Independent auditor's report to the members |
3 |
|
|
Statement of income and retained earnings |
7 |
|
|
Statement of financial position |
8 |
|
|
Notes to the financial statements |
9 |
|
|
Servotest Testing Systems Ltd |
|
Year ended 31 December 2021
The directors present their report and the financial statements of the company for the year ended
31 December 2021
.
Directors
The directors who served the company during the year were as follows:
B Ferris |
|
J Lie Li |
|
J Tian |
|
Y Shen Zhang |
|
S Duan |
|
Dr L Jing |
(Appointed
12 August 2021) |
A Prior |
(Resigned
4 August 2021) |
|
|
Directors' responsibilities statement
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies 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 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
-
so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
17 August 2022
and signed on behalf of the board by:
Registered office: |
Unit 2 |
Alpha Way |
Thorpe Industrial Estate |
Egham |
Surrey |
TW20 8REZ |
|
Servotest Testing Systems Ltd |
|
Independent Auditor's Report to the Members of
Servotest Testing Systems Ltd |
|
Year ended 31 December 2021
Opinion
We have audited the financial statements of Servotest Testing Systems Ltd (the 'company') for the year ended 31 December 2021 which comprise the statement of income and retained earnings, statement of financial position 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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 directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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 auditor’s 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: Irregularities- ability to detect We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management (as required by auditing standards), the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statement, for instance through the imposition of fines or litigation. We indemnified areas as those most likely to have such an effect: anti bribery and certain aspects of company legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatement in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our 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 auditor's 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.
Thomas McManners BSc ACA ACMI |
(Senior Statutory Auditor) |
|
For and on behalf of |
TTCA Ltd |
Chartered accountants & statutory auditor |
269 Farnborough Road |
Farnborough |
Hampshire |
GU14 7LY |
|
17 August 2022
Servotest Testing Systems Ltd |
|
Statement of Income and Retained Earnings |
|
Year ended 31 December 2021
|
2021 |
2020 |
Note |
£ |
£ |
Turnover |
6,663,544 |
8,044,991 |
|
|
|
Cost of sales |
4,338,770 |
5,206,447 |
|
------------ |
------------ |
Gross profit |
2,324,774 |
2,838,544 |
|
|
|
Administrative expenses |
1,875,203 |
2,259,685 |
Other operating income |
– |
2,701 |
|
------------ |
------------ |
Operating profit |
449,571 |
581,560 |
|
|
|
Other interest receivable and similar income |
455 |
708 |
Interest payable and similar expenses |
– |
202 |
|
|
------------ |
------------ |
Profit before taxation |
6 |
450,026 |
582,066 |
|
|
|
|
Tax on profit |
17,876 |
43,785 |
|
--------- |
--------- |
Profit for the financial year and total comprehensive income |
432,150 |
538,281 |
|
--------- |
--------- |
|
|
|
Retained earnings at the start of the year |
6,453,196 |
5,914,915 |
|
------------ |
------------ |
Retained earnings at the end of the year |
6,885,346 |
6,453,196 |
|
------------ |
------------ |
|
|
|
All the activities of the company are from continuing operations.
Servotest Testing Systems Ltd |
|
Statement of Financial Position |
|
31 December 2021
Fixed assets
Intangible assets |
7 |
2,775 |
4,625 |
Tangible assets |
8 |
351,635 |
426,452 |
Investments |
9 |
77 |
77 |
|
--------- |
--------- |
|
354,487 |
431,154 |
|
|
|
|
Current assets
Stocks |
1,258,538 |
1,281,338 |
Debtors |
10 |
6,228,962 |
5,909,380 |
Cash at bank and in hand |
918,666 |
1,896,590 |
|
------------ |
------------ |
|
8,406,166 |
9,087,308 |
|
|
|
|
Creditors: amounts falling due within one year |
11 |
1,707,596 |
2,925,852 |
|
------------ |
------------ |
Net current assets |
6,698,570 |
6,161,456 |
|
------------ |
------------ |
Total assets less current liabilities |
7,053,057 |
6,592,610 |
|
|
|
|
Provisions |
167,515 |
139,218 |
|
------------ |
------------ |
Net assets |
6,885,542 |
6,453,392 |
|
------------ |
------------ |
|
|
|
Capital and reserves
Called up share capital |
196 |
196 |
Profit and loss account |
6,885,346 |
6,453,196 |
|
------------ |
------------ |
Shareholders funds |
6,885,542 |
6,453,392 |
|
------------ |
------------ |
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
17 August 2022
, and are signed on behalf of the board by:
Company registration number:
06274550
Servotest Testing Systems Ltd |
|
Notes to the Financial Statements |
|
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2, Alpha Way, Thorpe Industrial Estate, Egham, TW20 8REZ, Surrey.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of BBK Test Systems Co Ltd which can be obtained from 20 Jingshengzhongjie Golden Bridge Science & Technology Industrial Base, Tongzhou District, Beijing 101102 China. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: The percentage completion of projects undertaken will affect the level of income which is shown for those projects not wholly completed. The directors make an estimation of this completion rate based on their knowledge of the work undertaken and experience in this area. The provision provided for warranties outstanding at the year end is a matter of estimation based on the directors' knowledge of the work undertaken and experience in this area.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Website costs |
- |
33% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Short leasehold property |
- |
Over the length of the lease |
|
Plant and machinery |
- |
10% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stock and work in progress is valued at the lower of cost and net realisable value. Projects undertaken are monitored and valued on the percentage completion basis. Where revenue is received in advance, compared to the progress of the project, it is shown as deferred income. Where project progress is in advance of the fees invoiced, then revenue is accrued accordingly. This is shown in the accounts within Other Creditors and Other Debtors accordingly.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Auditor's remuneration
|
2021 |
2020 |
|
£ |
£ |
Fees payable for the audit of the financial statements |
9,040 |
8,610 |
|
------- |
------- |
|
|
|
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
37
(2020:
40
).
6.
Profit before taxation
Profit before taxation is stated after charging:
|
2021 |
2020 |
|
£ |
£ |
Amortisation of intangible assets |
1,850 |
925 |
Depreciation of tangible assets |
93,073 |
101,565 |
|
-------- |
--------- |
|
|
|
7.
Intangible assets
|
Website costs |
|
£ |
Cost |
|
At 1 January 2021 and 31 December 2021 |
5,550 |
|
------- |
Amortisation |
|
At 1 January 2021 |
925 |
Charge for the year |
1,850 |
|
------- |
At 31 December 2021 |
2,775 |
|
------- |
Carrying amount |
|
At 31 December 2021 |
2,775 |
|
------- |
At 31 December 2020 |
4,625 |
|
------- |
|
|
8.
Tangible assets
|
Short leasehold property |
Plant and machinery |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 January 2021 |
155,490 |
864,096 |
1,019,586 |
Additions |
– |
18,256 |
18,256 |
Disposals |
– |
(
112,154) |
(
112,154) |
|
--------- |
--------- |
------------ |
At 31 December 2021 |
155,490 |
770,198 |
925,688 |
|
--------- |
--------- |
------------ |
Depreciation |
|
|
|
At 1 January 2021 |
65,396 |
527,738 |
593,134 |
Charge for the year |
16,136 |
76,937 |
93,073 |
Disposals |
– |
(
112,154) |
(
112,154) |
|
--------- |
--------- |
------------ |
At 31 December 2021 |
81,532 |
492,521 |
574,053 |
|
--------- |
--------- |
------------ |
Carrying amount |
|
|
|
At 31 December 2021 |
73,958 |
277,677 |
351,635 |
|
--------- |
--------- |
------------ |
At 31 December 2020 |
90,094 |
336,358 |
426,452 |
|
--------- |
--------- |
------------ |
|
|
|
|
9.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2021 and 31 December 2021 |
77 |
|
---- |
Impairment |
|
At 1 January 2021 and 31 December 2021 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 December 2021 |
77 |
|
---- |
At 31 December 2020 |
77 |
|
---- |
|
|
10.
Debtors
|
2021 |
2020 |
|
£ |
£ |
Trade debtors |
204,493 |
206,215 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
2,896,500 |
3,037,989 |
Other debtors |
3,127,969 |
2,665,176 |
|
------------ |
------------ |
|
6,228,962 |
5,909,380 |
|
------------ |
------------ |
|
|
|
11.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
Trade creditors |
423,955 |
199,743 |
Social security and other taxes |
53,584 |
56,328 |
Other creditors |
1,230,057 |
2,669,781 |
|
------------ |
------------ |
|
1,707,596 |
2,925,852 |
|
------------ |
------------ |
|
|
|
12.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss |
918,666 |
1,896,590 |
|
--------- |
------------ |
|
|
|
13.
Controlling party
Servotest Testing Systems Ltd
is a subsidiary of BBK Testing Systems Hong Kong Company. Its financial statements are consolidated into the financial statements of its ultimate parent company BBK Test Systems Co Limited which can be obtained from 20 Jingshengzhongjie Golden Bridge Science & Technology Industrial Base, Tongzhou District, Beijing 101102 China.