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REGISTERED NUMBER: 08559759 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

In-Spec Manufacturing Ltd

In-Spec Manufacturing Ltd (Registered number: 08559759)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


In-Spec Manufacturing Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S Hannar
A Wild





REGISTERED OFFICE: Slipways
Dockside Road
Middlesbrough
TS3 8AT





REGISTERED NUMBER: 08559759 (England and Wales)





ACCOUNTANTS: HP Accountants
2 Rose Terrace
Pelton Fell
Chester le street
DH2 2QZ

In-Spec Manufacturing Ltd (Registered number: 08559759)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 183,324 208,864

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 716,954 568,669
Cash at bank and in hand 40,499 92,115
762,453 665,784
CREDITORS
Amounts falling due within one year 6 406,738 278,624
NET CURRENT ASSETS 355,715 387,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

539,039

596,024

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 538,919 595,904
539,039 596,024

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.

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 Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





A Wild - Director


In-Spec Manufacturing Ltd (Registered number: 08559759)

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

1. STATUTORY INFORMATION

In-Spec Manufacturing Ltd 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.

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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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 2 (2023 - 2 ) .

In-Spec Manufacturing Ltd (Registered number: 08559759)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 321,145
DEPRECIATION
At 1 April 2023 112,281
Charge for year 25,540
At 31 March 2024 137,821
NET BOOK VALUE
At 31 March 2024 183,324
At 31 March 2023 208,864

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 288,601 330,316
Amounts recoverable on contract 20,000 20,000
Other debtors 408,353 218,353
716,954 568,669

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 100,000 -
Trade creditors 67,582 42,344
Taxation and social security 40,779 35,316
Other creditors 198,377 200,964
406,738 278,624

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

31.3.24 31.3.23
£    £   
A Wild
Balance outstanding at start of year 7,441 3,541
Amounts advanced - 3,900
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,441 7,441