INDUSTRIAL AUTOMATION SOLUTIONS LTD

Company Registration Number:
11140224 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Company Information

for the Period Ended 31 January 2023




Director: Michael Ely
Registered office: 9
Long Lane
West Winch
King's Lynn
GBR
PE33 0PG
Company Registration Number: 11140224 (England and Wales)

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Balance sheet

As at 31 January 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 28,851 25,168
Total fixed assets: 28,851 25,168
Current assets
Stocks: 13,325 6,752
Debtors: 5 18,592 21,074
Cash at bank and in hand: 41,158 50,636
Total current assets: 73,075 78,462
Creditors: amounts falling due within one year: 6 ( 15,384 ) ( 20,716 )
Net current assets (liabilities): 57,691 57,746
Total assets less current liabilities: 86,542 82,914
Creditors: amounts falling due after more than one year: 7 ( 206 )
Provision for liabilities: ( 5,387 ) ( 4,495 )
Total net assets (liabilities): 80,949 78,419

The notes form part of these financial statements

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Balance sheet continued

As at 31 January 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 80,947 78,417
Shareholders funds: 80,949 78,419

For the year ending 31 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 October 2023
And Signed On Behalf Of The Board By:

Name: Michael Ely
Status: Director

The notes form part of these financial statements

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the value, excluding VAT, of software support services supplied to customers during the period. Turnover is recorded at the date of the issue of the invoice to the customer.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

    Computer equipment - 25% reducing balance basis
    Office equipment - 25% reducing balance basis
    Tools and equipment - 20% reducing balance basis
    Motor vehicles - 20% reducing balance basis

    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

    Other accounting policies

    Stock on hand is stated at the lower of cost and net realisable value. Cost is determined by reference to the purchase invoice and is recorded on a first in first out basis. Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting period end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is released. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 3. Off balance sheet disclosure

    No

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Tangible assets

Plant & machinery Office equipment Motor vehicles Total
Cost £ £ £ £
At 01 February 2022 13,856 29,680 17,958 61,494
Additions 3,388 6,907 499 10,794
Disposals - - - -
Revaluations - - - -
Transfers - - - -
At 31 January 2023 17,244 36,587 18,457 72,288
Depreciation
At 01 February 2022 6,102 18,510 11,714 36,326
Charge for year 2,012 3,841 1,258 7,111
On disposals - - - -
Other adjustments - - - -
At 31 January 2023 8,114 22,351 12,972 43,437
Net book value
At 31 January 2023 9,130 14,236 5,485 28,851
At 31 January 2022 7,754 11,170 6,244 25,168

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Debtors


2023
£

2022
£
Trade debtors 17,344 20,547
Prepayments and accrued income 1,248 527
Total 18,592 21,074

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Amounts due under finance leases and hire purchase contracts 794
Trade creditors 2,767 2,192
Taxation and social security 11,176 17,994
Other creditors 647 530
Total 15,384 20,716

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

7.Creditors: amounts falling due after more than one year


2023
£

2022
£
Amounts due under finance leases and hire purchase contracts 206
Total 206