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REGISTERED NUMBER: 07220217 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Diagnosys Ferndown Limited

Diagnosys Ferndown Limited (Registered number: 07220217)






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


Diagnosys Ferndown Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr J Mulato





REGISTERED OFFICE: Suite 19, Peartree Business Centre
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7PT





REGISTERED NUMBER: 07220217 (England and Wales)





AUDITORS: Ward Goodman Audit Services Ltd
4 Cedar Park
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Diagnosys Ferndown Limited (Registered number: 07220217)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,421 12,888

CURRENT ASSETS
Stocks 5 742,727 854,834
Debtors 6 3,447,128 969,732
Cash at bank and in hand 34,524 225,808
4,224,379 2,050,374
CREDITORS
Amounts falling due within one year 7 2,519,774 742,628
NET CURRENT ASSETS 1,704,605 1,307,746
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,711,026

1,320,634

PROVISIONS FOR LIABILITIES 8 30,000 5,347
NET ASSETS 1,681,026 1,315,287

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 1,681,025 1,315,286
SHAREHOLDERS' FUNDS 1,681,026 1,315,287

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2024 and were signed by:





Mr J Mulato - Director


Diagnosys Ferndown Limited (Registered number: 07220217)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Diagnosys Ferndown 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.

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 as modified by the revaluation of certain assets.

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

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Tangible fixed assets
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Office Equipment 33% Straight line
Production Equipment 33% Straight line
Short leasehold25% Straight line


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

Diagnosys Ferndown Limited (Registered number: 07220217)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other 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 financial asset is measured at the present value of the future receipts discounted at at market rate of interest.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

Debtors
Short term debtors are measured at transaction price, less any provisions for amounts considered irrecoverable. Loans receivable are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.

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.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors 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.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are recognised when the company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be reliably estimated.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

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.

Diagnosys Ferndown Limited (Registered number: 07220217)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except 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 rates and laws that have been enacted or substantively enacted at 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 rates and laws that have been enacted or substantively enacted by the period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Short Production Office
leasehold Equipment equipmt Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 20,838 9,500 30,789 61,127
DEPRECIATION
At 1 January 2023 14,170 9,500 24,569 48,239
Charge for year 5,001 - 1,466 6,467
At 31 December 2023 19,171 9,500 26,035 54,706
NET BOOK VALUE
At 31 December 2023 1,667 - 4,754 6,421
At 31 December 2022 6,668 - 6,220 12,888


5. STOCKS
2023 2022
£    £   
Stocks 742,727 854,834

Diagnosys Ferndown Limited (Registered number: 07220217)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,589 601,487
Amounts owed by group undertakings 2,787,404 264,565
Other debtors 18,736 32,983
VAT debtor 25,115 11,642
Prepayments and accrued income 600,284 59,055
3,447,128 969,732

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 255,644 201,589
Amounts owed to group undertakings 1,946,372 -
Tax 66,451 91,200
Social security and other taxes 51,034 24,427
Pension creditor 7,252 5,026
Other creditors 112,878 85,207
Accruals and deferred income 36,695 38,391
Deferred income 43,448 296,788
2,519,774 742,628

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Other provisions 30,000 5,347

9. CALLED UP SHARE CAPITAL

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

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Rodd BSc FCA FCCA (Senior Statutory Auditor)
for and on behalf of Ward Goodman Audit Services Ltd

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Diagnosys Ferndown Limited (Registered number: 07220217)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. ULTIMATE CONTROLLING PARTY

The controlling party is Astronics Corporation.

Astronics Corporation is the ultimate parent company of Diagnosys Ferndown Limited.
Astronics Corporation is registered on the NASDAQ Stock Market. The accounts of Diagnosys Ferndown Limited are consolidated into the accounts of Astronics Corporation. The consolidated accounts can be found at the head office address of 130 Commerce Way, East Aurora, NY14052, New York, USA.