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REGISTERED NUMBER: 03654457 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Process Instruments (UK) Ltd

Process Instruments (UK) Ltd (Registered number: 03654457)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Process Instruments (UK) Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: M L Riding
J F Cook
R Heise
Dr C Stracey
I T Bailey
Dr R Paramore





SECRETARY: J F Cook





REGISTERED OFFICE: Process House
Turf Street
Burnley
Lancashire
BB11 3BP





REGISTERED NUMBER: 03654457 (England and Wales)





ACCOUNTANTS: Ascendant Accounting Ltd
Chartered Accountants
Chartered Acountants
44 Stamford Street
Stalybridge
Cheshire
SK15 1LQ

Process Instruments (UK) Ltd (Registered number: 03654457)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 260,707 320,547
Investments 5 21,809 21,809
282,516 342,356

CURRENT ASSETS
Stocks 697,396 751,338
Debtors 6 741,103 917,782
Cash at bank 667,114 388,330
2,105,613 2,057,450
CREDITORS
Amounts falling due within one year 7 439,768 450,826
NET CURRENT ASSETS 1,665,845 1,606,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,948,361

1,948,980

CREDITORS
Amounts falling due after more than one
year

8

54,455

103,667
NET ASSETS 1,893,906 1,845,313

CAPITAL AND RESERVES
Called up share capital 141 141
Share premium 127,566 127,566
Capital redemption reserve 1 1
Retained earnings 1,766,198 1,717,605
SHAREHOLDERS' FUNDS 1,893,906 1,845,313

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Process Instruments (UK) Ltd (Registered number: 03654457)

Balance Sheet - continued
31 October 2024


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 16 April 2025 and were signed on its behalf by:





M L Riding - Director


Process Instruments (UK) Ltd (Registered number: 03654457)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Process Instruments (UK) Ltd 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Process Instruments (UK) Ltd (Registered number: 03654457)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 34 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 November 2023 403,816 129,906 4,972 538,694
Additions - 11,042 - 11,042
Disposals - - (4,972 ) (4,972 )
At 31 October 2024 403,816 140,948 - 544,764
DEPRECIATION
At 1 November 2023 142,223 70,952 4,972 218,147
Charge for year 49,827 21,055 - 70,882
Eliminated on disposal - - (4,972 ) (4,972 )
At 31 October 2024 192,050 92,007 - 284,057
NET BOOK VALUE
At 31 October 2024 211,766 48,941 - 260,707
At 31 October 2023 261,593 58,954 - 320,547

Process Instruments (UK) Ltd (Registered number: 03654457)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to
property
£   
COST
At 1 November 2023
and 31 October 2024 91,975
DEPRECIATION
At 1 November 2023 3,285
Charge for year 16,893
At 31 October 2024 20,178
NET BOOK VALUE
At 31 October 2024 71,797
At 31 October 2023 88,690

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 21,809
NET BOOK VALUE
At 31 October 2024 21,809
At 31 October 2023 21,809

The company holds 100% of the issued share capital of each of the following subsidiaries:

Process Instruments (IRL) Limited, a company registered in Ireland
Process Instruments (Projects) Ltd, a company registered in England
SAS Process Instruments, a company registered in France

These accounts present information about the parent undertaking, not about its group. Group accounts are not required as Process Instruments (UK) Ltd is the parent of a group defined as "small" under the Companies Act.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 653,961 858,376
Amounts owed by group undertakings 44,860 44,661
Other debtors 42,282 14,745
741,103 917,782

Process Instruments (UK) Ltd (Registered number: 03654457)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 18,395 18,395
Trade creditors 339,783 377,916
Amounts owed to group undertakings 89 89
Taxation and social security 63,588 34,497
Other creditors 17,913 19,929
439,768 450,826

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 44,455 62,850
Other creditors 10,000 40,817
54,455 103,667

9. OTHER FINANCIAL COMMITMENTS

The company is committed to a lease agreement regarding its trading premises until 22 January 2029 at an annual rent of £45,714.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £229,125 (2023 - £118,217) were paid to the directors .