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COMPANY REGISTRATION NUMBER: 02568000
Diatron Assembly Systems Limited
Unaudited financial statements
30 April 2024
Diatron Assembly Systems Limited
Statement of financial position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
77,490
54,370
Current assets
Stocks
147,349
144,581
Debtors
6
233,947
139,229
Cash at bank and in hand
289,880
253,615
---------
---------
671,176
537,425
Creditors: amounts falling due within one year
7
( 240,415)
( 211,062)
---------
---------
Net current assets
430,761
326,363
---------
---------
Total assets less current liabilities
508,251
380,733
Provisions
Taxation including deferred tax
( 16,938)
( 10,059)
Accruals and deferred income
( 4,875)
( 4,500)
---------
---------
Net assets
486,438
366,174
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
486,338
366,074
---------
---------
Shareholders funds
486,438
366,174
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Diatron Assembly Systems Limited
Statement of financial position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mrs E A Fisher
Director
Company registration number: 02568000
Diatron Assembly Systems Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Hurricane Way, Norwich Airport Industrial Estate, Norwich, NR6 6JB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
7% straight line
Fixtures and fittings
-
15% reducing balance
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 10 (2023: 10 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
19,349
343,104
16,758
379,211
Additions
37,000
37,000
-------
---------
-------
---------
At 30 April 2024
19,349
380,104
16,758
416,211
-------
---------
-------
---------
Depreciation
At 1 May 2023
19,349
289,430
16,062
324,841
Charge for the year
13,217
663
13,880
-------
---------
-------
---------
At 30 April 2024
19,349
302,647
16,725
338,721
-------
---------
-------
---------
Carrying amount
At 30 April 2024
77,457
33
77,490
-------
---------
-------
---------
At 30 April 2023
53,674
696
54,370
-------
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
221,585
128,452
Prepayments and accrued income
12,362
10,777
---------
---------
233,947
139,229
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
163,068
175,832
Social security and other taxes
76,183
34,143
Other creditors
1,164
1,087
---------
---------
240,415
211,062
---------
---------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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