INDUSTRIAL AUTOMATION SOLUTIONS LTD

Company Registration Number:
11140224 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Company Information

for the Period Ended 31 January 2024




Director: Michael Ely
Registered office: 9
Long Lane
West Winch
King's Lynn
GBR
PE33 0PG
Company Registration Number: 11140224 (England and Wales)

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Balance sheet

As at 31 January 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 69,304 28,851
Total fixed assets: 69,304 28,851
Current assets
Stocks: 10,988 13,325
Debtors: 5 5,650 18,592
Cash at bank and in hand: 21,071 41,158
Total current assets: 37,709 73,075
Creditors: amounts falling due within one year: 6 ( 14,776 ) ( 15,384 )
Net current assets (liabilities): 22,933 57,691
Total assets less current liabilities: 92,237 86,542
Creditors: amounts falling due after more than one year: 7 ( 12,778 ) ( 206 )
Provision for liabilities: ( 13,073 ) ( 5,387 )
Total net assets (liabilities): 66,386 80,949

The notes form part of these financial statements

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Balance sheet continued

As at 31 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 66,384 80,947
Shareholders funds: 66,386 80,949

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 12 October 2024
And Signed On Behalf Of The Board By:

Name: Michael Ely
Status: Director

The notes form part of these financial statements

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the value, excluding VAT, of software support services supplied to customers during the period. Turnover is recorded at the date of the issue of the invoice to the customer.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

    Computer equipment - 25% reducing balance basis
    Office equipment - 20% reducing balance basis
    Tools and equipment - 20% reducing balance basis
    Motor vehicles - 20% reducing balance basis

    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

    At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belong.

    Valuation information and policy

    Stock on hand is stated at the lower of cost and net realisable value. Cost is determined by reference to the purchase invoice and is recorded on a first in first out basis.

    Other accounting policies

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

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 3. Off balance sheet disclosure

    No

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible assets

Plant & machinery Office equipment Motor vehicles Total
Cost £ £ £ £
At 01 February 2023 17,244 36,588 18,457 72,289
Additions 202 13,762 39,702 53,666
Disposals - - ( 17,958 ) ( 17,958 )
Revaluations - - - -
Transfers - - - -
At 31 January 2024 17,446 50,350 40,201 107,997
Depreciation
At 01 February 2023 8,115 22,352 12,971 43,438
Charge for year 1,859 4,972 1,386 8,217
On disposals - - ( 12,962 ) ( 12,962 )
Other adjustments - - - -
At 31 January 2024 9,974 27,324 1,395 38,693
Net book value
At 31 January 2024 7,472 23,026 38,806 69,304
At 31 January 2023 9,129 14,236 5,486 28,851

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Debtors


2024
£

2023
£
Trade debtors 17,343
Other debtors 5,650 1,249
Total 5,650 18,592

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 6,865 794
Trade creditors 3,443 2,766
Taxation and social security 3,965 11,177
Other creditors 503 647
Total 14,776 15,384

The bank loan is secured by a personal guarantee of the director.

INDUSTRIAL AUTOMATION SOLUTIONS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

7.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 12,778 206
Total 12,778 206

The bank loan is secured by a personal guarantee of the director.