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Registration number: 10073541

Armour Analytical Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Armour Analytical Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Armour Analytical Services Limited

Company Information

Directors

L P House

P P Lillis

S Lillis

Registered office

Unit 1 Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Armour Analytical Services Limited

(Registration number: 10073541)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

70,102

21,682

Current assets

 

Stocks

4

17,655

66,106

Debtors

5

126,940

76,107

Cash at bank and in hand

 

203,677

259,623

 

348,272

401,836

Creditors: Amounts falling due within one year

6

(101,358)

(113,999)

Net current assets

 

246,914

287,837

Total assets less current liabilities

 

317,016

309,519

Creditors: Amounts falling due after more than one year

6

(20,751)

(30,752)

Provisions for liabilities

(17,526)

(4,120)

Net assets

 

278,739

274,647

Capital and reserves

 

Called up share capital

7

90

90

Retained earnings

278,649

274,557

Shareholders' funds

 

278,739

274,647

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

 

Armour Analytical Services Limited

(Registration number: 10073541)
Balance Sheet as at 30 June 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
L P House
Director

.........................................
P P Lillis
Director

.........................................
S Lillis
Director

 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 11).

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

3,802

45,732

2,886

52,420

Additions

2,460

74,849

567

77,876

Disposals

-

(11,800)

-

(11,800)

At 30 June 2023

6,262

108,781

3,453

118,496

Depreciation

At 1 July 2022

2,621

25,558

2,559

30,738

Charge for the year

912

22,235

224

23,371

Eliminated on disposal

-

(5,715)

-

(5,715)

At 30 June 2023

3,533

42,078

2,783

48,394

Carrying amount

At 30 June 2023

2,729

66,703

670

70,102

At 30 June 2022

1,181

20,174

327

21,682

4

Stocks

2023
£

2022
£

Work in progress

17,655

66,106

 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

88,821

74,317

Prepayments

2,656

851

Other debtors

35,463

939

 

126,940

76,107

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,995

9,749

Trade creditors

 

5,835

3,791

Taxation and social security

 

79,757

78,651

Accruals and deferred income

 

1,600

3,124

Other creditors

 

4,171

18,684

 

101,358

113,999

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

20,751

30,752

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

90

90

90

90

         
 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,751

30,752

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,995

9,749

9

Related party transactions

Loans to related parties

2023

Associates
£

Total
£

At start of period

939

939

Advanced

35,462

35,462

Repaid

(939)

(939)

At end of period

35,462

35,462

2022

Associates
£

Total
£

At start of period

492

492

Advanced

9,355

9,355

Repaid

(8,908)

(8,908)

At end of period

939

939

 

Armour Analytical Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Loans from related parties

2023

Parent
£

Associates
£

Key management
£

Total
£

At start of period

-

14,538

3,456

17,994

Advanced

162,624

-

3,456

166,080

Repaid

(162,624)

(14,538)

(3,508)

(180,670)

At end of period

-

-

3,404

3,404

2022

Parent
£

Associates
£

Key management
£

Total
£

At start of period

139,795

-

3,407

143,202

Advanced

124,212

14,538

3,456

142,206

Repaid

(264,007)

-

(3,407)

(267,414)

At end of period

-

14,538

3,456

17,994

10

Parent and ultimate parent undertaking

The company's immediate parent is Sword Group Holdings Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr L House, Mr P Lillis & Mr S Lillis by virtue of their shareholding in Sword Group Holdings Limited.