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REGISTERED NUMBER: 05462271 (England and Wales)












REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

INSTRUMENT TECHNOLOGY LIMITED

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Report of the Directors 2

Accountants' Report 3

Statement of Income and Retained Earnings 4

Statement of Financial Position 5

Notes to the Financial Statements 7


INSTRUMENT TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr D W Barlow
Mr D Frazer-Bates
Mr J K Jefferies
Mr R Kaye





REGISTERED OFFICE: Menzies Road
Ponswood Industrial Estate
St. Leonards-on-Sea
East Sussex
TN38 9BB





REGISTERED NUMBER: 05462271 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of distribution of high and ultra high volume vacuum components and the manufacture of high volume vacuum hardware.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mr D W Barlow
Mr D Frazer-Bates
Mr J K Jefferies
Mr R Kaye

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr D Frazer-Bates - Director


30 May 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INSTRUMENT TECHNOLOGY LIMITED



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Instrument Technology Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Instrument Technology Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Instrument Technology Limited and state those matters that we have agreed to state to the Board of Directors of Instrument Technology Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Instrument Technology Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Instrument Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Instrument Technology Limited. You consider that Instrument Technology Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Instrument Technology Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES


30 May 2025

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 7,625,233 9,316,026

Cost of sales 4,431,883 6,020,854
GROSS PROFIT 3,193,350 3,295,172

Distribution costs 339,053 443,382
Administrative expenses 2,435,411 2,382,971
2,774,464 2,826,353
418,886 468,819

Other operating income 70,433 101,449
OPERATING PROFIT 5 489,319 570,268


Interest payable and similar expenses 274,579 173,174
PROFIT BEFORE TAXATION 214,740 397,094

Tax on profit 7 53,444 133,165
PROFIT FOR THE FINANCIAL YEAR 161,296 263,929

Retained earnings at beginning of year 154,169 450,411

Dividends (165,189 ) (560,171 )

RETAINED EARNINGS AT END OF
YEAR

150,276

154,169

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,061,297 854,124

CURRENT ASSETS
Stocks 9 1,471,175 1,445,221
Debtors 10 1,930,621 2,181,411
Cash in hand 730 170
3,402,526 3,626,802
CREDITORS
Amounts falling due within one year 11 2,717,491 2,978,254
NET CURRENT ASSETS 685,035 648,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,746,332

1,502,672

CREDITORS
Amounts falling due after more than one
year

12

(1,252,619

)

(1,057,764

)

PROVISIONS FOR LIABILITIES 15 (257,648 ) (204,950 )
NET ASSETS 236,065 239,958

CAPITAL AND RESERVES
Called up share capital 16 85,789 85,789
Retained earnings 150,276 154,169
SHAREHOLDERS' FUNDS 236,065 239,958

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

The 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 30 May 2025 and were signed on its behalf by:





Mr D Frazer-Bates - Director


INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Instrument Technology Limited 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 represents the value of goods (net of VAT) provided to customers during the year and is recognised on despatch.

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 - 20% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market for the year ended 30 September 2023 is given below:

United Kingdom 34.97%
Europe 29.18%
Rest of the World 35.85%
100.00 %

This analysis is not considered to be applicable to the year ended 30 September 2024.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2023 - 76 ) .

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 95,212 53,367
Depreciation - assets on hire purchase contracts 95,457 91,459
Foreign exchange differences 8,250 17,904
Pension costs 90,900 99,839

6. EXCEPTIONAL ITEMS
2024 2023
£    £   
Redundancy (12,506 ) -

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 749 66,197

Deferred tax 52,695 66,968
Tax on profit 53,444 133,165

8. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 October 2023 354,553 1,090,446 85,612
Additions 5,950 388,441 -
At 30 September 2024 360,503 1,478,887 85,612
Depreciation
At 1 October 2023 141,318 505,692 79,804
Charge for year 52,337 114,010 4,928
At 30 September 2024 193,655 619,702 84,732
Net book value
At 30 September 2024 166,848 859,185 880
At 30 September 2023 213,235 584,754 5,808

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 October 2023 25,111 180,337 1,736,059
Additions - 3,451 397,842
At 30 September 2024 25,111 183,788 2,133,901
Depreciation
At 1 October 2023 9,963 145,158 881,935
Charge for year 6,278 13,116 190,669
At 30 September 2024 16,241 158,274 1,072,604
Net book value
At 30 September 2024 8,870 25,514 1,061,297
At 30 September 2023 15,148 35,179 854,124

During the year a number of items of plant and machinery were refinanced.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
Cost
At 1 October 2023 - 874,809 26,763 901,572
Additions - 62,885 - 62,885
At 30 September 2024 - 937,694 26,763 964,457
Depreciation
At 1 October 2023 - 356,286 26,763 383,049
Charge for year 1,091 93,312 1,054 95,457
At 30 September 2024 1,091 449,598 27,817 478,506
Net book value
At 30 September 2024 (1,091 ) 488,096 (1,054 ) 485,951
At 30 September 2023 - 518,523 - 518,523

9. STOCKS
2024 2023
£    £   
Stocks 1,471,175 1,445,221

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,150,195 1,407,905
Amounts owed by group undertakings 352,491 352,491
Other debtors 427,935 421,015
1,930,621 2,181,411

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 80,000 73,186
Hire purchase contracts 476,645 228,188
Trade creditors 1,264,790 1,452,616
Taxation and social security 56,530 245,347
Other creditors 839,526 978,917
2,717,491 2,978,254

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 13) 178,786 258,976
Hire purchase contracts 1,073,833 798,788
1,252,619 1,057,764

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 80,000 73,186

Amounts falling due between one and two years:
Bank loans - 1-2 years 86,814 80,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 91,972 178,976

INSTRUMENT TECHNOLOGY LIMITED (REGISTERED NUMBER: 05462271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


14. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 258,786 332,162

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 257,648 204,950

Deferred
tax
£   
Balance at 1 October 2023 204,950
Provided during year 52,698
Balance at 30 September 2024 257,648

The deferred tax asset relates to historical losses incurred by the company which it expects to realise against future trading profits.

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
171,578 Ordinary £0.5 85,789 85,789