Company registration number 05296490 (England and Wales)
CHAMOIS METROLOGY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CHAMOIS METROLOGY LIMITED
COMPANY INFORMATION
Directors
Y Jansen
J Spick
Company number
05296490
Registered office
Unit 8
The Centre
Holywell Business Park
Southam
Warwickshire
CV47 0FP
Auditor
Anova
The Barn, Meadow Court
Faygate Lane
Faygate
Horsham
West Sussex
RH12 4SJ
CHAMOIS METROLOGY LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Income statement
6
Statement of financial position
7
Statement of changes in equity
8
Notes to the financial statements
9 - 20
CHAMOIS METROLOGY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of UKAS accredited calibration and instrument supply

solutions.

Results and dividends

The results for the year are set out on page 6.

Ordinary dividends were paid amounting to £438,005.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Y Jansen
J Shan
(Resigned 21 October 2024)
J Spick
Supplier payment policy

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

 

The company's current policy concerning the payment of trade creditors is to:

 

Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.

Auditor

Anova were re-appointed as auditors to the Company and in accordance with Section 485 of the Companies Act 2006, a resolution proposing that they be reappointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J Spick
Director
10 May 2025
CHAMOIS METROLOGY LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CHAMOIS METROLOGY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHAMOIS METROLOGY LIMITED
- 3 -
Opinion

We have audited the financial statements of Chamois Metrology Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 Reduced Disclosure Framework (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

CHAMOIS METROLOGY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHAMOIS METROLOGY LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

 

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

CHAMOIS METROLOGY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHAMOIS METROLOGY LIMITED (CONTINUED)
- 5 -

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits we are also required to perform specific procedures to respond to the risk of management override.

 

We also obtained an understanding of the legal and regulatory framework that the company operates in. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

 

In addition we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

 

As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or non-compliance with laws and regulations.

Our procedures to respond to risks identified included the following:

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Matthew Cleghorn FCA BSc (Hons) (Senior Statutory Auditor)
For and on behalf of Anova
12 May 2025
Chartered Accountants
Statutory Auditor
The Barn, Meadow Court
Faygate Lane
Faygate
Horsham
West Sussex
RH12 4SJ
CHAMOIS METROLOGY LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2024
2023
Notes
£
£
Revenue
4
3,041,621
3,167,836
Cost of sales
(1,558,053)
(1,615,555)
Gross profit
1,483,568
1,552,281
Administrative expenses
(1,144,344)
(868,416)
Operating profit
6
339,224
683,865
Finance costs
8
(4,244)
(4,617)
Profit before taxation
334,980
679,248
Tax on profit
9
(94,927)
(173,233)
Profit and total comprehensive income for the financial year
21
240,053
506,015

The income statement has been prepared on the basis that all operations are continuing operations.

CHAMOIS METROLOGY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
11
189,388
145,474
Right-of-use assets
11
129,596
145,399
318,984
290,873
Current assets
Inventories
12
50,068
48,602
Trade and other receivables
13
469,154
795,063
Cash and cash equivalents
232,074
630,161
751,296
1,473,826
Current liabilities
14
(633,946)
(1,139,034)
Net current assets
117,350
334,792
Total assets less current liabilities
436,334
625,665
Non-current liabilities
14
(72,579)
(89,003)
Provisions for liabilities
Deferred tax liabilities
17
(52,718)
(27,673)
Net assets
311,037
508,989
Equity
Called up share capital
20
1,000
1,000
Retained earnings
21
310,037
507,989
Total equity
311,037
508,989

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

The financial statements were approved by the board of directors and authorised for issue on 10 May 2025 and are signed on its behalf by:
J Spick
Director
Company registration number 05296490 (England and Wales)
CHAMOIS METROLOGY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 January 2023
1,000
801,974
802,974
Year ended 31 December 2023:
Profit and total comprehensive income
-
506,015
506,015
Transactions with owners:
Dividends
10
-
(800,000)
(800,000)
Balance at 31 December 2023
1,000
507,989
508,989
Year ended 31 December 2024:
Profit and total comprehensive income
-
240,053
240,053
Transactions with owners:
Dividends
10
-
(438,005)
(438,005)
Balance at 31 December 2024
1,000
310,037
311,037
CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
1
Accounting policies
Company information

Chamois Metrology Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 8, The Centre, Holywell Business Park, Southam, Warwickshire, CV47 0FP. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

Where required, equivalent disclosures are given in the group accounts of NMI UK Holdco Limited. The group accounts of NMI UK Holdco Limited are available to the public and can be obtained as set out in note 22.

Chamois Metrology Limited is a wholly owned subsidiary of NMI UK Holdco Limited and the results of Chamois Metrology Limited are included in the consolidated financial statements of NMI UK Holdco Limited which are available from Suite 1, 7th Floor, 50 Broadway, London, SW1H 0DB.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany 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.

1.3
Revenue

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The company recognises revenue when it transfers control of a product or service to a customer.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.4
Property, plant and equipment

Property, plant and equipment 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:

Fixtures and fittings
20% reducing balance
Plant and equipment
20% reducing balance
Motor vehicles
25% reducing balance
Demo equipment
20% reducing balance
Right of use asset
Straight line over lease term

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.5
Impairment of tangible and intangible assets

At each reporting 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

 

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Inventories

Inventories 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 inventories to their present location and condition.

 

Inventories held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

 

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Impairment of financial assets

Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.

 

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.9
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

 

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of other property, plant and equipment. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in: future lease payments arising from a change in an index or rate; the company's estimate of the amount expected to be payable under a residual value guarantee; or the company's assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting estimates and judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
3
Subcontracted work and other external charges
2024
2023
£
£
Third party testing
79,144
78,729
Travel and shipping
62,001
65,322
Raw materials and consumables
922,005
1,035,931
1,063,150
1,179,982
4
Revenue
2024
2023
£
£
Revenue analysed by geographical market
Europe
3,041,621
3,167,836
5
Employees

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

2024
2023
Number
Number
24
22

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
971,760
870,708
Social security costs
108,805
92,526
Pension costs
57,423
38,625
Other employment costs
1,567
2,632
1,139,555
1,004,491
CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
6
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
5,768
1,122
Fees payable to the company's auditor for the audit of the company's financial statements
12,075
11,500
Depreciation of property, plant and equipment
106,786
88,057
Profit on disposal of property, plant and equipment
(6,247)
-
Cost of inventories recognised as an expense
969,363
1,096,828
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
91,667
98,969
Company pension contributions to defined contribution schemes
6,417
5,461
98,084
104,430
8
Finance costs
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on lease liabilities
4,244
4,617
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
69,882
145,560
Deferred tax
Origination and reversal of temporary differences
25,045
27,673
Total tax charge
94,927
173,233
CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Taxation
(Continued)
- 16 -

The charge for the year can be reconciled to the profit per the income statement as follows:

2024
2023
£
£
Profit before taxation
334,980
679,248
Expected tax charge based on a corporation tax rate of 25.00% (2023: 23.50%)
83,745
159,623
Effect of expenses not deductible in determining taxable profit
10,394
131
Group relief
(2,373)
-
0
Depreciation on assets not qualifying for tax allowances
-
0
5,233
Deferred tax adjustments
25,045
27,673
Capital allowances
(21,884)
(19,567)
Other differences
-
140
Taxation charge for the year
94,927
173,233
10
Dividends
2024
2023
2024
2023
Amounts recognised as distributions:
per share
per share
Total
Total
£
£
£
£
Ordinary shares
Final dividend paid
438.01
800.00
438,005
800,000
11
Property, plant and equipment
Plant and equipment
Fixtures and fittings
Motor vehicles
Demo equipment
Right of use asset
Total
£
£
£
£
£
£
Cost
At 1 January 2024
356,082
176,687
53,814
46,700
252,762
886,045
Additions
46,859
22,982
-
0
6,788
60,138
136,767
Disposals
-
0
-
0
(26,250)
-
0
(38,624)
(64,874)
At 31 December 2024
402,941
199,669
27,564
53,488
274,276
957,938
Accumulated depreciation and impairment
At 1 January 2024
293,967
150,207
42,915
720
107,363
595,172
Charge for the year
13,785
7,145
-
0
9,915
75,941
106,786
Eliminated on disposal
-
0
-
0
(24,380)
-
0
(38,624)
(63,004)
At 31 December 2024
307,752
157,352
18,535
10,635
144,680
638,954
CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Property, plant and equipment
Plant and equipment
Fixtures and fittings
Motor vehicles
Demo equipment
Right of use asset
Total
£
£
£
£
£
£
(Continued)
- 17 -
Carrying amount
At 31 December 2024
95,189
42,317
9,029
42,853
129,596
318,984
At 31 December 2023
62,115
26,480
10,899
45,980
145,399
290,873

Property, plant and equipment includes right-of-use assets, as follows:

Right-of-use assets
2024
2023
£
£
Net values at the year end
Property
84,164
123,927
Motor vehicles
1,945
21,471
86,109
145,398
Depreciation charge for the year
Property
39,764
39,764
Motor vehicles
19,526
26,045
59,290
65,809
12
Inventories
2024
2023
£
£
Work in progress
1,746
10,023
Finished goods
48,322
38,579
50,068
48,602
13
Trade and other receivables
2024
2023
£
£
Trade receivables
439,815
524,453
Amount owed by parent undertaking
-
0
215,702
Other receivables
410
242
Prepayments and accrued income
28,929
54,666
469,154
795,063

Included within trade receivables is amounts owed by group companies of £33,513 (2023: £30,626).

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
14
Liabilities
Current
Non-current
2024
2023
2024
2023
Notes
£
£
£
£
Trade and other payables
16
398,786
555,785
-
0
-
0
Corporation tax
32,758
145,671
-
-
Other taxation and social security
144,191
220,906
-
-
Lease liabilities
15
58,211
59,425
72,579
89,003
Deferred income
18
-
0
157,247
-
0
-
0
633,946
1,139,034
72,579
89,003
15
Lease liabilities
2024
2023
Maturity analysis
£
£
Within one year
58,211
59,425
In two to five years
72,579
89,003
Total undiscounted liabilities
130,790
148,428

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:

2024
2023
£
£
Current liabilities
58,211
59,425
Non-current liabilities
72,579
89,003
130,790
148,428
2024
2023
Amounts recognised in profit or loss include the following:
£
£
Interest on lease liabilities
4,244
4,617

Security for the lease liabilities is secured on the assets to which the liabilities relate.

CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
16
Trade and other payables
2024
2023
£
£
Trade payables
177,270
164,578
Amount owed to parent undertaking
132,418
105,000
Accruals and deferred income
78,297
286,207
Other payables
10,801
-
398,786
555,785

Included within trade payables is amounts owed to group companies of £14,775 (2023: £21,063).

17
Deferred taxation
Liabilities
2024
2023
£
£
Deferred tax balances
52,718
27,673

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
£
Balance at 1 January 2023
-
0
Deferred tax movements in prior year
Charge/(credit) to profit or loss
27,673
Liability at 1 January 2024
27,673
Deferred tax movements in current year
Charge/(credit) to profit or loss
25,045
Liability at 31 December 2024
52,718
18
Deferred revenue
2024
2023
£
£
Arising from work carried out post year-end but invoiced prior.
-
157,247
CHAMOIS METROLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
19
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
57,423
38,625

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

20
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
998
998
998
998
Ordinary A share of £1 each
1
1
1
1
Ordinary B share of £1 each
1
1
1
1
1,000
1,000
1,000
1,000

All shares rank equally for voting and dividend purposes and are not redeemable or liable to be redeemed at the option of the company or the shareholder.

 

21
Retained earnings
2024
2023
£
£
At the beginning of the year
507,989
801,974
Profit for the year
240,053
506,015
Dividends
(438,005)
(800,000)
At the end of the year
310,037
507,989
22
Controlling party

Chamois Holdings Limited is the immediate parent undertaking.

The Ultimate Controlling Party is LLCP Europe II SCSp (Fund) (Luxembourg).

NMI UK Holdco Limited is the ultimate parent undertaking and is the smallest and largest group to consolidate the company's financial statements. Copies of NMI UK Holdco Limited financial statements for the year ended 31 December and can be obtained from Suite 1, 7th Floor, 50 Broadway, London, SW1H 0DB.

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