4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 45,496 4,414 49,910 38,067 4,642 42,709 7,201 7,429 xbrli:pure xbrli:shares iso4217:GBP 02107134 2023-11-01 2024-10-31 02107134 2024-10-31 02107134 2023-10-31 02107134 2022-11-01 2023-10-31 02107134 2023-10-31 02107134 2022-10-31 02107134 core:PlantMachinery 2023-11-01 2024-10-31 02107134 bus:Director3 2023-11-01 2024-10-31 02107134 bus:Director4 2023-11-01 2024-10-31 02107134 core:PlantMachinery 2023-10-31 02107134 core:PlantMachinery 2024-10-31 02107134 core:WithinOneYear 2024-10-31 02107134 core:WithinOneYear 2023-10-31 02107134 core:ShareCapital 2024-10-31 02107134 core:ShareCapital 2023-10-31 02107134 core:RetainedEarningsAccumulatedLosses 2024-10-31 02107134 core:RetainedEarningsAccumulatedLosses 2023-10-31 02107134 core:PlantMachinery 2023-10-31 02107134 bus:SmallEntities 2023-11-01 2024-10-31 02107134 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 02107134 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02107134 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02107134 bus:FullAccounts 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: 02107134
Ashby Microsystems Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2024
Ashby Microsystems Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
7,201
7,429
Current assets
Stocks
26,036
19,478
Debtors
6
240,954
102,091
Cash at bank and in hand
1,966
3,882
---------
---------
268,956
125,451
Creditors: amounts falling due within one year
7
205,381
91,947
---------
---------
Net current assets
63,575
33,504
--------
--------
Total assets less current liabilities
70,776
40,933
--------
--------
Net assets
70,776
40,933
--------
--------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
69,776
39,933
--------
--------
Shareholders funds
70,776
40,933
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ashby Microsystems Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
C Wallace
S Lumsden
Director
Director
Company registration number: 02107134
Ashby Microsystems Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10, Tournament Way, Ashby de la Zouch, Leicestershire, LE65 2UU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 November 2023
45,496
45,496
Additions
4,414
4,414
--------
--------
At 31 October 2024
49,910
49,910
--------
--------
Depreciation
At 1 November 2023
38,067
38,067
Charge for the year
4,642
4,642
--------
--------
At 31 October 2024
42,709
42,709
--------
--------
Carrying amount
At 31 October 2024
7,201
7,201
--------
--------
At 31 October 2023
7,429
7,429
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
237,599
98,904
Other debtors
3,355
3,187
---------
---------
240,954
102,091
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
83,586
27,067
Corporation tax
70,024
33,996
Social security and other taxes
39,311
28,459
Other creditors
12,460
2,425
---------
--------
205,381
91,947
---------
--------
8. Controlling party
The parent company of Ashby Microsystems Limited is CS Microsystems Limited , company number 05985591, incorporated in England & Wales on 1 November 2006.