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REGISTERED NUMBER: 01851179 (England and Wales)















Isomet (UK) Limited

Financial Statements

for the Year Ended 31 December 2023






Isomet (UK) Limited (Registered number: 01851179)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Isomet (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M W Hillier
R J Evans





REGISTERED OFFICE: 18 John Baker Close
Llantarnam Park
Cwmbran
Torfaen
NP44 3AX





REGISTERED NUMBER: 01851179 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Chartered Accountants
& Statutory Auditors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Isomet (UK) Limited (Registered number: 01851179)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 224,232 229,261
Tangible assets 5 25,682 26,755
249,914 256,016

CURRENT ASSETS
Stocks 236,338 244,515
Debtors 6 1,642,567 1,380,229
Cash at bank and in hand 71,276 70,711
1,950,181 1,695,455
CREDITORS
Amounts falling due within one year 7 134,562 102,307
NET CURRENT ASSETS 1,815,619 1,593,148
TOTAL ASSETS LESS CURRENT LIABILITIES 2,065,533 1,849,164

CREDITORS
Amounts falling due after more than one year 8 (14,923 ) (23,846 )

PROVISIONS FOR LIABILITIES (59,159 ) (48,522 )
NET ASSETS 1,991,451 1,776,796

CAPITAL AND RESERVES
Called up share capital 86,000 86,000
Retained earnings 1,905,451 1,690,796
1,991,451 1,776,796

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 23 January 2025 and were signed on its behalf by:





M W Hillier - Director


Isomet (UK) Limited (Registered number: 01851179)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Isomet (UK) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - 10-20% on reducing balance

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.

Isomet (UK) Limited (Registered number: 01851179)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Research and development
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated .

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over
their useful lives.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 644,849
Additions 68,859
At 31 December 2023 713,708
AMORTISATION
At 1 January 2023 415,588
Charge for year 73,888
At 31 December 2023 489,476
NET BOOK VALUE
At 31 December 2023 224,232
At 31 December 2022 229,261

Isomet (UK) Limited (Registered number: 01851179)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Long Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 January 2023 18,911 249,496 268,407
Additions - 2,297 2,297
At 31 December 2023 18,911 251,793 270,704
DEPRECIATION
At 1 January 2023 18,911 222,741 241,652
Charge for year - 3,370 3,370
At 31 December 2023 18,911 226,111 245,022
NET BOOK VALUE
At 31 December 2023 - 25,682 25,682
At 31 December 2022 - 26,755 26,755

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 139,760 73,980
Amounts owed by group undertakings 1,469,243 1,263,774
Other debtors 33,564 42,475
1,642,567 1,380,229

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 46,599 52,703
Taxation and social security 68,835 30,471
Other creditors 9,128 9,133
134,562 102,307

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,923 23,846

Isomet (UK) Limited (Registered number: 01851179)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 18,500 18,500
Between one and five years 74,000 74,000
In more than five years 18,500 37,000
111,000 129,500

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tania Cregg FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

11. OTHER FINANCIAL COMMITMENTS

A deferred guarantee for in favour of HM Customs and Excise is secured on a £15,000 deposit with the company's bankers by a legal charge. This has been repaid during 2023.

12. RELATED PARTY DISCLOSURES

During the year the company had the following transactions with Isomet Corporation, its parent company:-

2023 2022
£    £   
Sales 286,964 335,277
Purchases 784,810 489,601
Balance due to Isomet (UK) Limited 1,469,243 1,263,774

All sales to Isomet Corporation are subject to a discount of 15%.