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Company Registration No. 12462305 (England and Wales)
The Instrument Factory Ltd Unaudited accounts for the year ended 31 March 2023
The Instrument Factory Ltd Unaudited accounts Contents
Page
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The Instrument Factory Ltd Company Information for the year ended 31 March 2023
Director
Christopher John Edwards
Company Number
12462305 (England and Wales)
Registered Office
ICENTRE HOWARD WAY NEWPORT PAGNELL MK16 9PY UNITED KINGDOM
Accountants
GWA Accountancy Limited VT-65, Interchange House Howard Way Newport Pagnell Buckinghamshire MK16 9PY
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The Instrument Factory Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
8,825 
9,836 
Tangible assets
10,034 
10,968 
18,859 
20,804 
Current assets
Debtors
1,919 
3,639 
Cash at bank and in hand
1,947 
999 
3,866 
4,638 
Creditors: amounts falling due within one year
(20,403)
(22,415)
Net current liabilities
(16,537)
(17,777)
Net assets
2,322 
3,027 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
2,321 
3,026 
Shareholders' funds
2,322 
3,027 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 October 2023 and were signed on its behalf by
Christopher John Edwards Director Company Registration No. 12462305
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The Instrument Factory Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
The Instrument Factory Ltd is a private company, limited by shares, registered in England and Wales, registration number 12462305. The registered office is ICENTRE, HOWARD WAY, NEWPORT PAGNELL, MK16 9PY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is calculated across the maximum useful life of 10 years, under FRS 102, paragraph 18.20 published September 2015 and unamended in March 2018.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
10,929 
At 31 March 2023
10,929 
Amortisation
At 1 April 2022
1,093 
Charge for the year
1,011 
At 31 March 2023
2,104 
Net book value
At 31 March 2023
8,825 
At 31 March 2022
9,836 
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The Instrument Factory Ltd Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
11,008 
1,903 
960 
13,871 
Additions
1,723 
- 
- 
1,723 
At 31 March 2023
12,731 
1,903 
960 
15,594 
Depreciation
At 1 April 2022
2,202 
381 
320 
2,903 
Charge for the year
1,761 
576 
320 
2,657 
At 31 March 2023
3,963 
957 
640 
5,560 
Net book value
At 31 March 2023
8,768 
946 
320 
10,034 
At 31 March 2022
8,806 
1,522 
640 
10,968 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
845 
2,703 
Accrued income and prepayments
1,074 
936 
1,919 
3,639 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,212 
1,981 
Trade creditors
703 
437 
Taxes and social security
1,609 
1,776 
Other creditors
476 
478 
Loans from directors
12,028 
13,271 
Accruals
2,375 
4,472 
20,403 
22,415 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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