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REGISTERED NUMBER: 03876454 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SCI-TEK INSTRUMENTS LIMITED

SCI-TEK INSTRUMENTS LIMITED (REGISTERED NUMBER: 03876454)

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


SCI-TEK INSTRUMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr D Martin
Mrs S Martin





REGISTERED OFFICE: Berrybrook House
Stilebrook Road
Olney
Buckinghamshire
MK46 5EA





REGISTERED NUMBER: 03876454 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

SCI-TEK INSTRUMENTS LIMITED (REGISTERED NUMBER: 03876454)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 131,599 154,005

CURRENT ASSETS
Stocks 15,250 15,250
Debtors 5 179,500 240,136
Cash at bank and in hand 656,670 558,430
851,420 813,816
CREDITORS
Amounts falling due within one year 6 302,421 381,257
NET CURRENT ASSETS 548,999 432,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

680,598

586,564

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 680,498 586,464
SHAREHOLDERS' FUNDS 680,598 586,564

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 2 September 2024 and were signed on its behalf by:




Mr D Martin - Director


SCI-TEK INSTRUMENTS LIMITED (REGISTERED NUMBER: 03876454)

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


1. STATUTORY INFORMATION

Sci-Tek 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.

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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% 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.

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

SCI-TEK INSTRUMENTS LIMITED (REGISTERED NUMBER: 03876454)

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


2. ACCOUNTING POLICIES - continued

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION
Taxation for the year comprises current 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 January 2023 25,671 1,859 249,690 159,270 436,490
Additions - 7,125 2,603 - 9,728
At 31 December 2023 25,671 8,984 252,293 159,270 446,218
DEPRECIATION
At 1 January 2023 - 562 200,624 81,299 282,485
Charge for year - 918 5,036 26,180 32,134
At 31 December 2023 - 1,480 205,660 107,479 314,619
NET BOOK VALUE
At 31 December 2023 25,671 7,504 46,633 51,791 131,599
At 31 December 2022 25,671 1,297 49,066 77,971 154,005

SCI-TEK INSTRUMENTS LIMITED (REGISTERED NUMBER: 03876454)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 88,784 72,909
Other debtors 90,716 167,227
179,500 240,136

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 21,724 110,091
Taxation and social security 46,608 31,789
Other creditors 234,089 239,377
302,421 381,257

7. CALLED UP SHARE CAPITAL

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
Mr D Martin
Balance outstanding at start of year 126,826 (34,861 )
Amounts advanced 1,000 435,881
Amounts repaid (62,664 ) (274,194 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,162 126,826