7 7 Surface Inspection Limited 06985081 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is specialises in artificial vision systems. The company designs and develops automatic inspection systems for quality control of ceramic tiles. Those systems are used to inspect ceramic tiles both during the production process and at the last stage of the quality control process before packaging Digita Accounts Production Advanced 6.30.9574.0 true true 06985081 2024-01-01 2024-12-31 06985081 2024-12-31 06985081 bus:OrdinaryShareClass1 2024-12-31 06985081 core:CurrentFinancialInstruments 2024-12-31 06985081 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 06985081 core:BetweenTwoFiveYears 2024-12-31 06985081 core:WithinOneYear 2024-12-31 06985081 core:FurnitureFittings 2024-12-31 06985081 core:OfficeEquipment 2024-12-31 06985081 core:PlantMachinery 2024-12-31 06985081 bus:SmallEntities 2024-01-01 2024-12-31 06985081 bus:Audited 2024-01-01 2024-12-31 06985081 bus:FilletedAccounts 2024-01-01 2024-12-31 06985081 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06985081 bus:RegisteredOffice 2024-01-01 2024-12-31 06985081 bus:Director6 2024-01-01 2024-12-31 06985081 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 06985081 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06985081 core:Goodwill 2024-01-01 2024-12-31 06985081 core:FurnitureFittings 2024-01-01 2024-12-31 06985081 core:OfficeEquipment 2024-01-01 2024-12-31 06985081 core:PlantMachinery 2024-01-01 2024-12-31 06985081 1 2024-01-01 2024-12-31 06985081 countries:AllCountries 2024-01-01 2024-12-31 06985081 2023-12-31 06985081 core:FurnitureFittings 2023-12-31 06985081 core:OfficeEquipment 2023-12-31 06985081 core:PlantMachinery 2023-12-31 06985081 2023-01-01 2023-12-31 06985081 2023-12-31 06985081 bus:OrdinaryShareClass1 2023-12-31 06985081 core:CurrentFinancialInstruments 2023-12-31 06985081 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06985081 core:BetweenTwoFiveYears 2023-12-31 06985081 core:WithinOneYear 2023-12-31 06985081 core:FurnitureFittings 2023-12-31 06985081 core:OfficeEquipment 2023-12-31 06985081 core:PlantMachinery 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 06985081

Surface Inspection Limited

Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

Surface Inspection Limited

Contents

Abridged Balance Sheet

1

Notes to the Abridged Financial Statements

2 to 7

 

Surface Inspection Limited

(Registration number: 06985081)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

14,409

1,379

Current assets

 

Stocks

6

294,913

278,686

Debtors

7

99,587

96,835

Cash at bank and in hand

 

60,678

45,161

 

455,178

420,682

Prepayments and accrued income

 

28,353

25,730

Creditors: Amounts falling due within one year

(30,410)

(17,782)

Net current assets

 

453,121

428,630

Total assets less current liabilities

 

467,530

430,009

Accruals and deferred income

 

(31,344)

(25,259)

Net assets

 

436,186

404,750

Capital and reserves

 

Called up share capital

8

90,001

90,001

Retained earnings

346,185

314,749

Shareholders' funds

 

436,186

404,750

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 April 2025
 

.........................................
Mr Giovanni Campolungo
Director

 

Surface Inspection Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
22-24 Ely Place
London
EC1N 6TE

The principal place of business is:
Unit 8, City Business Park
Easton Road
Bristol
BS5 0SP
United Kingdom

These financial statements were authorised for issue by the director on 23 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 23 April 2025 was John Tiltman, who signed for and on behalf of DTL Auditors Ltd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Surface Inspection Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Fixtures and fittings

20% straight line basis

Office equipment

33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Development costs

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line basis

 

Surface Inspection Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Surface Inspection Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 7).

 

Surface Inspection Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2024

65,769

At 31 December 2024

65,769

Amortisation

At 1 January 2024

65,769

At 31 December 2024

65,769

Carrying amount

At 31 December 2024

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

4,344

47,931

43,540

95,815

Additions

-

750

16,561

17,311

At 31 December 2024

4,344

48,681

60,101

113,126

Depreciation

At 1 January 2024

4,344

47,931

42,161

94,436

Charge for the year

-

125

4,156

4,281

At 31 December 2024

4,344

48,056

46,317

98,717

Carrying amount

At 31 December 2024

-

625

13,784

14,409

At 31 December 2023

-

-

1,379

1,379

6

Stocks

2024
£

2023
£

Other inventories

294,913

278,686

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Surface Inspection Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

90,001

90,001

90,001

90,001

       

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

49,324

49,324

Later than one year and not later than five years

36,993

86,317

86,317

135,641

The amount of non-cancellable operating lease payments recognised as an expense during the year was £49,324 (2023 - £42,834).

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £Nil (2023 - £Nil). A charge has been registered on Companies House further to a rent deposit deed dated 11 July 2012 created by grade two limited for securing all monies due or to become due from the company to Bis (Postal Services Act 2011) Company limited under the terms of the aforementioned instrument creating or evidencing the charge was registered pursuant to chapter 1 part 25 of the companies act 2006 on the 19 July 2012

11

Parent and ultimate parent undertaking

The company's immediate parent is Sacmi Imola S.C., incorporated in Italy.