LABORATORY INSTRUMENTATION LIMITED

Company Registration Number:
09615187 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

LABORATORY INSTRUMENTATION LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

LABORATORY INSTRUMENTATION LIMITED

Company Information

for the Period Ended 31 May 2024




Registered office: Unit 7 Farringdon Industrial Centre
Gosport Road
Farringdon
Alton
England
GU34 3DD
Company Registration Number: 09615187 (England and Wales)

LABORATORY INSTRUMENTATION LIMITED

Balance sheet

As at 31 May 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 300 600
Tangible assets: 5 39,947 24,100
Total fixed assets: 40,247 24,700
Current assets
Stocks: 27,212 34,945
Debtors: 117,759 201,448
Cash at bank and in hand: 390,828 289,551
Total current assets: 535,799 525,944
Creditors: amounts falling due within one year: ( 154,772 ) ( 166,247 )
Net current assets (liabilities): 381,027 359,697
Total assets less current liabilities: 421,274 384,397
Provision for liabilities: ( 9,987 ) ( 6,025 )
Total net assets (liabilities): 411,287 378,372

The notes form part of these financial statements

LABORATORY INSTRUMENTATION LIMITED

Balance sheet continued

As at 31 May 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 411,187 378,272
Shareholders funds: 411,287 378,372

For the year ending 31 May 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 4 February 2025
And Signed On Behalf Of The Board By:

Name: Shaun Linegar
Status: Director

The notes form part of these financial statements

LABORATORY INSTRUMENTATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 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

    The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
    Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
    Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated
    reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
    Plant and machinery - 25% reducing balance
    Office equipment - 25% straight line

    Intangible fixed assets amortisation policy

    Goodwill arising on business combinations is capitalised, classified as an asset in the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 10 years. Provision is made for any impairment.

    Other accounting policies

    Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profit. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

LABORATORY INSTRUMENTATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 4 4

LABORATORY INSTRUMENTATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 3. Off balance sheet disclosure

    No

LABORATORY INSTRUMENTATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 4. Intangible assets

    Total
    Cost £
    At 01 June 2023 3,000
    Additions -
    Disposals -
    Revaluations -
    Transfers -
    At 31 May 2024 3,000
    Amortisation
    Amortisation at 01 June 2023 2,400
    Charge for year 300
    On disposals -
    Other adjustments -
    Amortisation at 31 May 2024 2,700
    Net book value
    Net book value at 31 May 2024 300
    Net book value at 31 May 2023 600

LABORATORY INSTRUMENTATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Tangible Assets

Total
Cost £
At 01 June 2023 64,010
Additions 26,836
Disposals -
Revaluations -
Transfers -
At 31 May 2024 90,846
Depreciation
At 01 June 2023 39,910
Charge for year 10,989
On disposals -
Other adjustments -
At 31 May 2024 50,899
Net book value
At 31 May 2024 39,947
At 31 May 2023 24,100