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REGISTERED NUMBER: 07927218 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

SENSOR COATING SYSTEMS LIMITED

SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SENSOR COATING SYSTEMS LIMITED

Company Information
for the year ended 31 December 2023







Directors: Dr J P Feist
Dr R J C Easton
Prof A L Heyes
Mr W D Iselin
Prof J R Nicholls
Mr B R Shaw
Dr S A Rodriguez





Registered office: The Cube London East-UK
Yewtree Avenue
Dagenham East
London
RM10 7FN





Registered number: 07927218 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 7,128 12,666
7,128 12,666

Current assets
Debtors 6 200,608 217,278
Cash at bank 340,743 530,873
541,351 748,151
Creditors
Amounts falling due within one year 7 188,917 194,051
Net current assets 352,434 554,100
Total assets less current liabilities 359,562 566,766

Creditors
Amounts falling due after more than one
year

8

-

(48,611

)

Provisions for liabilities 10 (3,459 ) (2,407 )
Net assets 356,103 515,748

Capital and reserves
Called up share capital 11 330 330
Share premium 276,788 276,788
Retained earnings 78,985 238,630
Shareholders' funds 356,103 515,748

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.

SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Statement of Financial Position - 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.

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 17 May 2024 and were signed on its behalf by:




Mr W D Iselin - Director



Dr J P Feist - Director


SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Sensor Coating Systems 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 2 years
Computer equipment - Straight line over 3 years

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 statement of financial position date.


SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 14 (2022 - 16 ) .

4. Intangible fixed assets
Patents
and
licences
£   
Cost
At 1 January 2023
and 31 December 2023 4,521
Amortisation
At 1 January 2023
and 31 December 2023 4,521
Net book value
At 31 December 2023 -
At 31 December 2022 -

SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 January 2023 85,902 33,361 119,263
Additions 4,401 1,649 6,050
At 31 December 2023 90,303 35,010 125,313
Depreciation
At 1 January 2023 79,704 26,893 106,597
Charge for year 7,477 4,111 11,588
At 31 December 2023 87,181 31,004 118,185
Net book value
At 31 December 2023 3,122 4,006 7,128
At 31 December 2022 6,198 6,468 12,666

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 129,912 96,245
Other debtors 70,696 121,033
200,608 217,278

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 48,618 83,333
Trade creditors 20,943 31,981
Taxation and social security 17,523 15,537
Other creditors 101,833 63,200
188,917 194,051

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 48,611

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 54,581

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 3,459 2,407

SENSOR COATING SYSTEMS LIMITED (REGISTERED NUMBER: 07927218)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


10. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 January 2023 2,407
Provided during year 1,052
Balance at 31 December 2023 3,459

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
33,002 Ordinary shares 0.01 330 330