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REGISTERED NUMBER: 09484815 (England and Wales)










INSTRUMENTATION SYSTEMS & SERVICES
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024






INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 7


INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 93,961 97,014
93,961 97,014

CURRENT ASSETS
Stocks 13,388 57,493
Debtors 6 192,707 123,827
Cash at bank 11,881 57,881
217,976 239,201
CREDITORS
Amounts falling due within one year 7 227,177 219,273
NET CURRENT (LIABILITIES)/ASSETS (9,201 ) 19,928
TOTAL ASSETS LESS CURRENT LIABILITIES 84,760 116,942

CREDITORS
Amounts falling due after more than one year 8 (35,258 ) (55,085 )

PROVISIONS FOR LIABILITIES (17,911 ) (18,318 )
NET ASSETS 31,591 43,539

CAPITAL AND RESERVES
Called up share capital 11 220 220
Capital redemption reserve 20 20
Retained earnings 31,351 43,299
SHAREHOLDERS' FUNDS 31,591 43,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

BALANCE SHEET - continued
31ST MAY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th October 2024 and were signed on its behalf by:




S M Kelly - Director



N L Kelly - Director


INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Instrumentation Systems & Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09484815

Registered office: 3365 Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

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, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery20% reducing balance
Office equipment20% reducing balance
Fixtures and fittings20% reducing balance
Motor vehicles25% on cost

Stocks
Stock is valued at the lower of cost and net realisable value.

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 122,500
AMORTISATION
At 1st June 2023
and 31st May 2024 122,500
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 172,126
Additions 685
At 31st May 2024 172,811
DEPRECIATION
At 1st June 2023 75,112
Charge for year 3,738
At 31st May 2024 78,850
NET BOOK VALUE
At 31st May 2024 93,961
At 31st May 2023 97,014

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 179,346 112,165
Other debtors 13,361 11,662
192,707 123,827

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 18,033 18,033
Trade creditors 141,079 143,779
Taxation and social security 55,860 49,108
Other creditors 12,205 8,353
227,177 219,273

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 16,039 34,071
Other creditors 19,219 21,014
35,258 55,085

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:


Non-cancellable operating
leases
2024 2023
£ £
21,263 21,263
Within one year 37,209 58,472
Between one and five years
58,472 79,735

10. SECURED DEBTS

Included within creditors are hire purchase agreements totalling £34,071 (2023: £52,104). The agreements are secured against the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary shares £1 180 180
40 A, B, C, D Ordinary £1 40 40
220 220

Ordinary shares rank pari passu except that different rates of dividend can be declared on different classes of shares.

INSTRUMENTATION SYSTEMS & SERVICES
LIMITED (REGISTERED NUMBER: 09484815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


12. RELATED PARTY DISCLOSURES

Included in other creditors are amounts owed to the directors of £19,219 (2023: £21,014). No interest is charged and there is no fixed date for repayment.