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Garan Instruments Limited

Financial Statements for the Year Ended 31 March 2024






Garan Instruments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G M Roberts
A C Saltmarshe





SECRETARY: G M Roberts





REGISTERED OFFICE: 26 St Agnes Road
Heath
Cardiff
CF14 4AP





REGISTERED NUMBER: 04715696 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Garan Instruments Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Garan Instruments Limited for the year ended 31 March 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Garan Instruments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Garan Instruments Limited and state those matters that we have agreed to state to the Board of Directors of Garan Instruments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Garan Instruments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Garan Instruments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Garan Instruments Limited. You consider that Garan Instruments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Garan Instruments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


29 October 2024

Garan Instruments Limited (Registered number: 04715696)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 1,175 1,639
Investments 5 50,250 50,250
51,425 51,889

CURRENT ASSETS
Stocks 30,050 31,159
Debtors 6 25,892 23,817
Cash at bank 84,020 63,530
139,962 118,506
CREDITORS
Amounts falling due within one year 7 13,013 11,861
NET CURRENT ASSETS 126,949 106,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,374

158,534

PROVISIONS FOR LIABILITIES 300 300
NET ASSETS 178,074 158,234

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 177,974 158,134
178,074 158,234

Garan Instruments Limited (Registered number: 04715696)

Balance Sheet - continued
31 March 2024


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:




G M Roberts - Director



A C Saltmarshe - Director


Garan Instruments Limited (Registered number: 04715696)

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


1. 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.

Goodwill
Goodwill has been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Computer equipment - 25% reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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 Profit & Loss Account, 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.


Garan Instruments Limited (Registered number: 04715696)

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


1. ACCOUNTING POLICIES - continued
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.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 15,000
AMORTISATION
At 1 April 2023
and 31 March 2024 15,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Garan Instruments Limited (Registered number: 04715696)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 2,294 18,297 20,591
DEPRECIATION
At 1 April 2023 2,157 16,795 18,952
Charge for year 34 430 464
At 31 March 2024 2,191 17,225 19,416
NET BOOK VALUE
At 31 March 2024 103 1,072 1,175
At 31 March 2023 137 1,502 1,639

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 50,250
NET BOOK VALUE
At 31 March 2024 50,250
At 31 March 2023 50,250

Garan Instruments Limited (Registered number: 04715696)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,892 18,054
Other debtors & prepayments - 5,763
25,892 23,817

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,015 7,441
Taxes & social security costs 8,795 2,277
Other creditors & accruals 2,203 2,143
13,013 11,861