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Registered number: 03870982
Sensors UK Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03870982
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 362,556 349,210
362,556 349,210
CURRENT ASSETS
Stocks 5 14,000 19,500
Debtors 6 139,402 111,123
Investments 7 18,750 18,750
Cash at bank and in hand 80,951 117,669
253,103 267,042
Creditors: Amounts Falling Due Within One Year 8 (142,928 ) (133,181 )
NET CURRENT ASSETS (LIABILITIES) 110,175 133,861
TOTAL ASSETS LESS CURRENT LIABILITIES 472,731 483,071
Creditors: Amounts Falling Due After More Than One Year 9 - (42,552 )
NET ASSETS 472,731 440,519
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 472,631 440,419
SHAREHOLDERS' FUNDS 472,731 440,519
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Page 2
For the year ending 31 January 2024 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 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David White
Director
20 March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sensors UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03870982 . The registered office is 135a Hatfield Road, St Albans, Hertfordshire, AL1 4LZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation charged
Motor Vehicles 25% - reducing balance method
Fixtures & Fittings 25% - reducing balance method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.6. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
4 4
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 342,720 19,500 25,538 387,758
Additions - 17,904 184 18,088
Disposals - (19,500 ) - (19,500 )
As at 31 January 2024 342,720 17,904 25,722 386,346
Depreciation
As at 1 February 2023 - 18,883 19,665 38,548
Provided during the period - 2,611 1,514 4,125
Disposals - (18,883 ) - (18,883 )
As at 31 January 2024 - 2,611 21,179 23,790
Net Book Value
As at 31 January 2024 342,720 15,293 4,543 362,556
As at 1 February 2023 342,720 617 5,873 349,210
5. Stocks
2024 2023
£ £
Stock 14,000 19,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 135,166 107,198
Prepayments and accrued income 4,098 3,925
Other taxes and social security 138 -
139,402 111,123
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Page 5
7. Current Asset Investments
2024 2023
£ £
Unlisted investments 18,750 18,750
18,750 18,750
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 44,585 32,597
Corporation tax 32,605 25,565
Other taxes and social security - 634
VAT 4,687 17,995
Net wages 3,064 -
Other creditors 217 853
Pension payable 98 98
Accruals and deferred income 4,230 3,935
Directors' loan accounts 53,442 51,504
142,928 133,181
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 42,552
- 42,552
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Peter White (5,000 ) 5,000 (5,000 ) - (5,000 )
Mr David White (46,504 ) 45,032 (46,970 ) - (48,442 )
The above loan is unsecured, interest free and repayable on demand.
12. Controlling Party
The company's controlling party is David John White by virtue of his ownership of 90% of the issued share capital in the company.
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