IRIS Accounts Production v23.2.0.158 01196641 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh011966412022-02-28011966412023-02-28011966412022-03-012023-02-28011966412021-02-28011966412021-03-012022-02-28011966412022-02-2801196641ns10:Originalns15:EnglandWales2022-03-012023-02-2801196641ns14:PoundSterlingns10:Original2022-03-012023-02-2801196641ns10:Originalns10:Director12022-03-012023-02-2801196641ns10:Original2022-03-012023-02-2801196641ns10:Original2023-02-2801196641ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2801196641ns10:Originalns10:SmallEntities2022-03-012023-02-2801196641ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2801196641ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2801196641ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2801196641ns10:Originalns10:FullAccounts2022-03-012023-02-2801196641ns10:Originalns10:OrdinaryShareClass12022-03-012023-02-2801196641ns10:Originalns10:Director22022-03-012023-02-2801196641ns10:Originalns10:RegisteredOffice2022-03-012023-02-2801196641ns10:Original2022-02-2801196641ns10:Originalns5:CurrentFinancialInstruments2023-02-2801196641ns10:Originalns5:CurrentFinancialInstruments2022-02-2801196641ns5:ShareCapitalns10:Original2023-02-2801196641ns5:ShareCapitalns10:Original2022-02-2801196641ns10:Originalns5:CapitalRedemptionReserve2023-02-2801196641ns10:Originalns5:CapitalRedemptionReserve2022-02-2801196641ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2801196641ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2801196641ns10:Originalns5:PlantMachinery2022-03-012023-02-2801196641ns10:Originalns5:MotorVehicles2022-03-012023-02-2801196641ns10:Original2021-03-012022-02-2801196641ns10:Originalns5:PlantMachinery2022-02-2801196641ns10:Originalns5:MotorVehicles2022-02-2801196641ns10:Original2022-02-2801196641ns10:Originalns5:PlantMachinery2023-02-2801196641ns10:Originalns5:MotorVehicles2023-02-2801196641ns10:Originalns5:PlantMachinery2022-02-2801196641ns10:Originalns5:MotorVehicles2022-02-2801196641ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2023-02-2801196641ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2022-02-2801196641ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2801196641ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2801196641ns10:Originalns5:DeferredTaxation2022-02-2801196641ns10:Originalns5:DeferredTaxation2022-03-012023-02-2801196641ns10:Originalns5:DeferredTaxation2023-02-2801196641ns10:Originalns10:OrdinaryShareClass12023-02-2801196641ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2801196641ns10:Originalns5:CapitalRedemptionReserve2022-02-2801196641ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-28
REGISTERED NUMBER: 01196641 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

EUROPEAN INSTRUMENTS LIMITED

EUROPEAN INSTRUMENTS LIMITED (REGISTERED NUMBER: 01196641)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EUROPEAN INSTRUMENTS LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: Mr C J Morris
Mr R Walker





REGISTERED OFFICE: Shotover Kilns
Old Road
Headington
Oxford
Oxfordshire
OX3 8ST





REGISTERED NUMBER: 01196641 (England and Wales)





ACCOUNTANTS: Chartswood Limited
Chartered Certified Accountants
6b Parkway
Porters Wood
St Albans
Hertfordshire
AL3 6PA

EUROPEAN INSTRUMENTS LIMITED (REGISTERED NUMBER: 01196641)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 297,585 146,346

CURRENT ASSETS
Stocks 5 35,365 67,324
Debtors 6 626,902 566,079
Cash at bank and in hand 1,845,961 1,628,719
2,508,228 2,262,122
CREDITORS
Amounts falling due within one year 7 590,769 548,931
NET CURRENT ASSETS 1,917,459 1,713,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,215,044

1,859,537

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Capital redemption reserve 10 5,000 5,000
Retained earnings 10 2,205,044 1,849,537
SHAREHOLDERS' FUNDS 2,215,044 1,859,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:




Mr C J Morris - Director


EUROPEAN INSTRUMENTS LIMITED (REGISTERED NUMBER: 01196641)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

European Instruments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the provision of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

EUROPEAN INSTRUMENTS LIMITED (REGISTERED NUMBER: 01196641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, which are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

EUROPEAN INSTRUMENTS LIMITED (REGISTERED NUMBER: 01196641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 283,829 341,313 625,142
Additions 14,310 257,185 271,495
Disposals (7,154 ) (86,750 ) (93,904 )
At 28 February 2023 290,985 511,748 802,733
DEPRECIATION
At 1 March 2022 226,716 252,080 478,796
Charge for year 10,557 108,654 119,211
Eliminated on disposal (6,109 ) (86,750 ) (92,859 )
At 28 February 2023 231,164 273,984 505,148
NET BOOK VALUE
At 28 February 2023 59,821 237,764 297,585
At 28 February 2022 57,113 89,233 146,346

5. STOCKS
28.2.23 28.2.22
£    £   
Finished goods 35,365 67,324

EUROPEAN INSTRUMENTS LIMITED (REGISTERED NUMBER: 01196641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 460,500 444,452
Amounts owed by related companies 134,652 79,564
Other debtors 500 600
Deferred tax asset
Accelerated capital allowances 11,258 20,331
Prepayments 19,992 21,132
626,902 566,079

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 136,095 68,297
Taxation 88,224 102,116
Social security and other taxes 28,618 28,832
Value added tax 130,206 136,147
Other creditors 140,116 152,064
Directors' current accounts 1,032 720
Accruals and deferred income 66,478 60,755
590,769 548,931

8. DEFERRED TAX
£   
Balance at 1 March 2022 (20,331 )
Provided during year 9,073
Balance at 28 February 2023 (11,258 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
5,000 Ordinary £1 5,000 5,000

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 March 2022 1,849,537 5,000 1,854,537
Profit for the year 415,507 415,507
Dividends (60,000 ) (60,000 )
At 28 February 2023 2,205,044 5,000 2,210,044