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REGISTERED NUMBER: 04555517 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INSTANCE AUTOMATICS LIMITED

INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


INSTANCE AUTOMATICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr I. Eason
Mrs. T. Eason
Mr S S Borthwick



REGISTERED OFFICE: Crabtree Lodge
Crabtree Lane
SUTTON ON SEA
Lincolnshire
LN12 2RS



REGISTERED NUMBER: 04555517 (England and Wales)



ACCOUNTANTS: Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL



BANKERS: Lloyds Bank plc
24 Mercer Row
LOUTH
LN11 9JQ

INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture and sale of amusement arcade machines and supply of related prizes.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr I. Eason
Mrs. T. Eason
Mr S S Borthwick

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr I. Eason - Director


16 August 2024

INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,639
Tangible assets 5 286,434 262,114
Investment property 6 495,000 415,289
781,434 680,042

CURRENT ASSETS
Stocks 900,000 1,000,000
Debtors 1,316,264 1,382,333
Cash at bank 2,358,816 2,148,657
4,575,080 4,530,990
CREDITORS
Amounts falling due within one year 720,237 853,812
NET CURRENT ASSETS 3,854,843 3,677,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,636,277

4,357,220

PROVISIONS FOR LIABILITIES 59,518 60,747
NET ASSETS 4,576,759 4,296,473

CAPITAL AND RESERVES
Allotted, called up and
fully paid share capital 2 2
Profit and loss account 4,576,757 4,296,471
SHAREHOLDERS' FUNDS 4,576,759 4,296,473

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.

INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 August 2024 and were signed on its behalf by:





Mr I. Eason - Director


INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Instance Automatics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

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.

Computer software is being amortised evenly over its estimated useful life of three years.

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 - 10% Straight Line
Fixtures and fittings - 33% Reducing Balance and 15% Reducing Balance
Motor vehicles - 25% Reducing Balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.

INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 61,475
AMORTISATION
At 1 January 2023 58,836
Amortisation for year 2,639
At 31 December 2023 61,475
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 2,639

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 531,361
Additions 109,954
At 31 December 2023 641,315
DEPRECIATION
At 1 January 2023 269,247
Charge for year 85,634
At 31 December 2023 354,881
NET BOOK VALUE
At 31 December 2023 286,434
At 31 December 2022 262,114

INSTANCE AUTOMATICS LIMITED (REGISTERED NUMBER: 04555517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. INVESTMENT PROPERTY

FAIR VALUE£   
Fair Value at 1 January 2023415,289
Additions113,052
Movement in fair value(33,341)

Fair Value at 31 December 2023495,000

Whilst a professional valuation of investment property has not been used at the year end, the Directors are of the opinion that the figure shown above represents the fair value of the property at the Balance Sheet date.

Deferred tax is provided for at the balance sheet date in respect of the total movement in fair value compared with cost.
Any movement in fair value each year is recognised as a tax charge in the profit and loss of the company for that year.