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REGISTERED NUMBER: 07499590 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Microns (P.E.) Limited

Microns (P.E.) Limited (Registered number: 07499590)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Microns (P.E.) Limited (Registered number: 07499590)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 382,024 442,589
382,024 442,589

Current assets
Stocks 8,200 7,125
Debtors 6 182,395 194,432
Cash at bank and in hand 276,379 249,205
466,974 450,762
Creditors
Amounts falling due within one year 7 (352,408 ) (266,005 )
Net current assets 114,566 184,757
Total assets less current liabilities 496,590 627,346

Creditors
Amounts falling due after more than one
year

8

(100,272

)

(143,572

)

Provisions for liabilities (94,637 ) (109,587 )
Net assets 301,681 374,187

Capital and reserves
Called up share capital 220 220
Retained earnings 301,461 373,967
301,681 374,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Microns (P.E.) Limited (Registered number: 07499590)

Balance Sheet - continued
31 March 2024


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 7 August 2024 and were signed on its behalf by:




Mr J Campbell - Director



Mr G Mills - Director


Microns (P.E.) Limited (Registered number: 07499590)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 acquisition of a business in 2011, is being amortised evenly over its estimated useful life of 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 the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 15% p.a. reducing balance
Motor vehicles - 15% p.a. reducing balance
Computer equipment - 25% p.a. reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Microns (P.E.) Limited (Registered number: 07499590)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Microns (P.E.) Limited (Registered number: 07499590)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. Accounting policies - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised in the balance sheet and depreciated over the shorter of the lease term and the expected useful life of the asset. A lease is treated as a finance lease when, substantially, all the risks and rewards of ownership of the asset transfer from the lessor to the company. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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 24 (2023 - 19 ) .

Microns (P.E.) Limited (Registered number: 07499590)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
and 31 March 2024 140,000
Amortisation
At 1 April 2023
and 31 March 2024 140,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

5. Tangible fixed assets
Improvements Plant and Motor Computer
to property machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 April 2023 7,909 867,565 17,147 21,525 914,146
Additions - 5,775 - 1,879 7,654
At 31 March 2024 7,909 873,340 17,147 23,404 921,800
Depreciation
At 1 April 2023 4,621 446,767 6,121 14,048 471,557
Charge for year 721 63,665 2,600 1,233 68,219
At 31 March 2024 5,342 510,432 8,721 15,281 539,776
Net book value
At 31 March 2024 2,567 362,908 8,426 8,123 382,024
At 31 March 2023 3,288 420,798 11,026 7,477 442,589

6. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 163,321 194,432
Other debtors 19,074 -
182,395 194,432

Microns (P.E.) Limited (Registered number: 07499590)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 33,300 33,300
Trade creditors 71,473 88,022
Taxation and social security 162,789 67,330
Other creditors 74,846 67,353
352,408 266,005

8. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans 11,667 21,667
Hire purchase contracts 88,605 121,905
100,272 143,572

9. Secured debts

The following secured debts are included within creditors:

31.3.24 31.3.23
£ £
Hire purchase contracts 121,905 155,205