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Company registration number: 01600004
P S Analytical Limited
Unaudited filleted financial statements
30 June 2024
P S Analytical Limited
Contents
Statement of financial position
Notes to the financial statements
P S Analytical Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 541,783 176,315
Investments 6 37,473 44,810
_______ _______
579,256 221,125
Current assets
Stocks 1,775,043 1,480,626
Debtors 7 1,666,408 1,375,802
Cash at bank and in hand 4,659,188 3,887,024
_______ _______
8,100,639 6,743,452
Creditors: amounts falling due
within one year 8 ( 1,786,366) ( 1,010,227)
_______ _______
Net current assets 6,314,273 5,733,225
_______ _______
Total assets less current liabilities 6,893,529 5,954,350
_______ _______
Net assets 6,893,529 5,954,350
_______ _______
Capital and reserves
Called up share capital 65,000 65,000
Profit and loss account 6,828,529 5,889,350
_______ _______
Shareholders funds 6,893,529 5,954,350
_______ _______
For the year ending 30 June 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Paul M Stockwell
Director
Company registration number: 01600004
P S Analytical Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Arthur House, Crayfield Industrial Park, Main Road, St. Pauls Cray, Orpington, Kent, BR5 3HP. The principal activity of the Company and it's subsidairy throughout the year has been as manufacturers and assemblers and distributors of scientific and analytical instruments. These instruments are used to determine the levels of the trace metals Mercury, Arsenic and Selenium at the trace level, often in the parts per trillion range. The research and development team at P S Analytical Ltd supports this principal activity by its continued research and development to extend the application of the instruments to new materials and to improve the performance of the existing instruments themselves. P S Analytical Limited is at the forefront of scientific developments in this area and has a worldwide reputation for this research.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.The directors consider the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are 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:
Short leasehold property & improvement - Straight line over the term of the lease
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20% reducing balance and computers written off over two years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.Cost is calculated on a first in first out basis.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
Research and development
Research and development expenditure is written off to the profit and loss account in the year in which it is incurred.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 33 (2023: 31 ).
5. Tangible assets
Freehold property Short leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £ £
Cost
At 1 July 2023 - 285,932 308,068 603,523 1,197,523
Additions 419,356 - - 5,683 425,039
_______ _______ _______ _______ _______
At 30 June 2024 419,356 285,932 308,068 609,206 1,622,562
_______ _______ _______ _______ _______
Depreciation
At 1 July 2023 - 215,436 268,864 536,908 1,021,208
Charge for the year - 28,572 7,841 23,158 59,571
_______ _______ _______ _______ _______
At 30 June 2024 - 244,008 276,705 560,066 1,080,779
_______ _______ _______ _______ _______
Carrying amount
At 30 June 2024 419,356 41,924 31,363 49,140 541,783
_______ _______ _______ _______ _______
At 30 June 2023 - 70,496 39,204 66,615 176,315
_______ _______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Loans to group undertakings and participating interests Total
£ £ £
Cost
At 1 July 2023 2 44,808 44,810
Other movements - ( 7,337) ( 7,337)
_______ _______ _______
At 30 June 2024 2 37,471 37,473
_______ _______ _______
Impairment
At 1 July 2023 and 30 June 2024 - - -
_______ _______ _______
Carrying amount
At 30 June 2024 2 37,471 37,473
_______ _______ _______
At 30 June 2023 2 44,808 44,810
_______ _______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
PS Analytical-SE Asia PTY Ltd 5 Webb Street Margate, Queensland 4019, Australia Ordinary 100
7. Debtors
2024 2023
£ £
Trade debtors 1,041,259 845,202
Other debtors 625,149 530,600
_______ _______
1,666,408 1,375,802
_______ _______
Amounts owed by connected companies included in other debtors are interest free and repayable on demand .
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 320,333 217,123
Corporation tax 76,394 -
Social security and other taxes 27,630 27,289
Other creditors 1,362,009 765,815
_______ _______
1,786,366 1,010,227
_______ _______
The Company has available bank facilities secured by a debenture over the assets of the company.
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 197,614 185,286
Later than 1 year and not later than 5 years 122,154 285,913
_______ _______
319,768 471,199
_______ _______
10. Controlling party
P S Analytical Research Limited , a company incorporated in England and Wales is the parent company.