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REGISTERED NUMBER: 06965050 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Munro Instruments Limited

Munro Instruments Limited (Registered number: 06965050)

Contents of the Financial Statements
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Munro Instruments Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: J P Adams
R Bookstein
M Rachmanov





REGISTERED OFFICE: Cavendish House
Parkway
Harlow Business Park
Harlow
Essex
CM19 5QF





REGISTERED NUMBER: 06965050 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Munro Instruments Limited (Registered number: 06965050)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 141,125 160,625
Tangible assets 5 53,488 7,995
194,613 168,620

CURRENT ASSETS
Stocks 510,428 442,782
Debtors 6 318,991 288,765
Cash at bank 249,128 196,465
1,078,547 928,012
CREDITORS
Amounts falling due within one year 7 538,885 501,085
NET CURRENT ASSETS 539,662 426,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

734,275

595,547

PROVISIONS FOR LIABILITIES 8 9,055 -
NET ASSETS 725,220 595,547

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 725,120 595,447
SHAREHOLDERS' FUNDS 725,220 595,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 April 2024 and were signed on its behalf by:



J P Adams - Director


Munro Instruments Limited (Registered number: 06965050)

Notes to the Financial Statements
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

Munro 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the aquisition of businesses in 2019 and 2021, is being amortised evenly over its estimated useful life of five and ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Munro Instruments Limited (Registered number: 06965050)

Notes to the Financial Statements - continued
For The Year Ended 31 December 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

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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.

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 13 (2022 - 11 ) .

Munro Instruments Limited (Registered number: 06965050)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 190,000
AMORTISATION
At 1 January 2023 29,375
Charge for year 19,500
At 31 December 2023 48,875
NET BOOK VALUE
At 31 December 2023 141,125
At 31 December 2022 160,625

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 90,323 20,132 1,600 20,000 132,055
Additions 34,102 988 17,249 1,731 54,070
Disposals (90,323 ) - - - (90,323 )
At 31 December 2023 34,102 21,120 18,849 21,731 95,802
DEPRECIATION
At 1 January 2023 89,369 16,467 1,396 16,828 124,060
Charge for year 2,983 1,171 1,699 1,770 7,623
Eliminated on disposal (89,369 ) - - - (89,369 )
At 31 December 2023 2,983 17,638 3,095 18,598 42,314
NET BOOK VALUE
At 31 December 2023 31,119 3,482 15,754 3,133 53,488
At 31 December 2022 954 3,665 204 3,172 7,995

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 240,192 225,054
Other debtors 78,799 63,711
318,991 288,765

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 262,412 242,551
Taxation and social security 21,954 16,064
Other creditors 254,519 242,470
538,885 501,085

Munro Instruments Limited (Registered number: 06965050)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,055 -

Deferred
tax
£   
Provided during year 9,055
Balance at 31 December 2023 9,055

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100