Company registration number 03336153 (England and Wales)
NORWICH INSTRUMENT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
NORWICH INSTRUMENT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
NORWICH INSTRUMENT SERVICES LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
184,571
154,996
Current assets
Stocks
615,292
439,800
Debtors
4
2,387,367
2,327,903
Cash at bank and in hand
3,076,333
2,264,596
6,078,992
5,032,299
Creditors: amounts falling due within one year
5
(1,894,484)
(861,736)
Net current assets
4,184,508
4,170,563
Total assets less current liabilities
4,369,079
4,325,559
Provisions for liabilities
(44,233)
(27,906)
Net assets
4,324,846
4,297,653
Capital and reserves
Called up share capital
2
2
Revaluation reserve
6
1,986
1,986
Profit and loss reserves
4,322,858
4,295,665
Total equity
4,324,846
4,297,653

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

NORWICH INSTRUMENT SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
Mr N Cockburn
Director
Company registration number 03336153 (England and Wales)
NORWICH INSTRUMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Norwich Instrument Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 Beechbank Drive, Thorpe End, Norwich, Norfolk, England, NR13 5BW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 20% reducing balance
Fixtures and fittings
- 15% reducing balance
Computers
- 33.3% straight line
Motor vehicles
- 25% straight line
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

NORWICH INSTRUMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

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 profits. 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.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
40
40
NORWICH INSTRUMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
7,822
744,288
752,110
Additions
-
0
91,375
91,375
Disposals
-
0
(18,780)
(18,780)
At 31 July 2024
7,822
816,883
824,705
Depreciation and impairment
At 1 August 2023
7,822
589,289
597,111
Depreciation charged in the year
-
0
61,803
61,803
Eliminated in respect of disposals
-
0
(18,780)
(18,780)
At 31 July 2024
7,822
632,312
640,134
Carrying amount
At 31 July 2024
-
0
184,571
184,571
At 31 July 2023
-
0
154,996
154,996
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,361,201
1,006,301
Other debtors
1,026,166
1,321,602
2,387,367
2,327,903
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
607,524
565,455
Corporation tax
57,438
105,942
Other taxation and social security
127,240
170,948
Other creditors
1,102,282
19,391
1,894,484
861,736
NORWICH INSTRUMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
6
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
1,986
1,986
7
Related party transactions

The following companies have common ownership with Norwich Instrument Services Limited:

 

Bicotest High Voltage Products Limited

Biccotest Limited

Bicotest Limited

 

The directors, Mr & Mrs Cockburn, own equally between themselves the entire issued share capital of these

companies.

 

These companies have been dormant since incorporation.

 

Dormant accounts have been prepared for the year to 31 July 2024 for Bicotest High Voltage Products Limited, Biccotest Limited and Bicotest Limited.

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