Company Registration No. 12462305 (England and Wales)
The Instrument Factory Ltd
Unaudited accounts
for the year ended 31 March 2024
The Instrument Factory Ltd
Unaudited accounts
Contents
The Instrument Factory Ltd
Company Information
for the year ended 31 March 2024
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
The Instrument Factory Ltd
Statement of financial position
as at 31 March 2024
Intangible assets
7,650
8,825
Tangible assets
8,433
10,034
Cash at bank and in hand
3,813
1,947
Creditors: amounts falling due within one year
(18,879)
(20,403)
Net current liabilities
(12,454)
(16,537)
Called up share capital
1
1
Profit and loss account
3,628
2,321
Shareholders' funds
3,629
2,322
For the year ending 31 March 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 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 6 August 2024 and were signed on its behalf by
Christopher John Edwards
Director
Company Registration No. 12462305
The Instrument Factory Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
The Instrument Factory Ltd
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
11,008
3,626
960
15,594
At 31 March 2024
11,872
3,626
960
16,458
At 1 April 2023
3,963
957
640
5,560
Charge for the year
1,420
725
320
2,465
At 31 March 2024
5,383
1,682
960
8,025
At 31 March 2024
6,489
1,944
-
8,433
At 31 March 2023
7,045
2,669
320
10,034
Amounts falling due within one year
Accrued income and prepayments
984
1,074
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,840
3,212
Taxes and social security
1,906
1,609
Loans from directors
6,888
12,028
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).