Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31112024-01-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC135969 2024-01-01 2024-12-31 SC135969 2024-12-31 SC135969 2022-07-01 2023-12-31 SC135969 2023-12-31 SC135969 c:CompanySecretary1 2024-01-01 2024-12-31 SC135969 c:Director1 2024-01-01 2024-12-31 SC135969 c:RegisteredOffice 2024-01-01 2024-12-31 SC135969 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 SC135969 d:Buildings d:ShortLeaseholdAssets 2024-12-31 SC135969 d:Buildings d:ShortLeaseholdAssets 2023-12-31 SC135969 d:FurnitureFittings 2024-01-01 2024-12-31 SC135969 d:FurnitureFittings 2024-12-31 SC135969 d:FurnitureFittings 2023-12-31 SC135969 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC135969 d:OfficeEquipment 2024-01-01 2024-12-31 SC135969 d:OfficeEquipment 2024-12-31 SC135969 d:OfficeEquipment 2023-12-31 SC135969 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC135969 d:ComputerEquipment 2024-01-01 2024-12-31 SC135969 d:ComputerEquipment 2024-12-31 SC135969 d:ComputerEquipment 2023-12-31 SC135969 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC135969 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 SC135969 d:OtherPropertyPlantEquipment 2024-12-31 SC135969 d:OtherPropertyPlantEquipment 2023-12-31 SC135969 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC135969 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC135969 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 SC135969 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 SC135969 d:CurrentFinancialInstruments 2024-12-31 SC135969 d:CurrentFinancialInstruments 2023-12-31 SC135969 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC135969 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC135969 d:ShareCapital 2024-12-31 SC135969 d:ShareCapital 2023-12-31 SC135969 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC135969 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC135969 c:FRS102 2024-01-01 2024-12-31 SC135969 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC135969 c:FullAccounts 2024-01-01 2024-12-31 SC135969 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC135969 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 SC135969 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: SC135969







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


GM INSTRUMENTS LIMITED






































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GM INSTRUMENTS LIMITED
 


 
COMPANY INFORMATION


Director
R S Singh 




Company secretary
M J Miles



Registered number
SC135969



Registered office
Greig House
Block 1 Annick Road

Annickbank Innovation Campus

Irvine

Scotland

KA11 4LF




Accountants
Menzies LLP
Chartered Accountants

2nd Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


GM INSTRUMENTS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


GM INSTRUMENTS LIMITED
REGISTERED NUMBER:SC135969



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
561
1,122

Tangible assets
 5 
52,073
37,764

  
52,634
38,886

Current assets
  

Stocks
  
304,189
181,924

Debtors: amounts falling due within one year
 6 
359,240
304,695

Cash at bank and in hand
  
292,682
292,497

  
956,111
779,116

Creditors: amounts falling due within one year
 7 
(579,200)
(388,042)

Net current assets
  
 
 
376,911
 
 
391,074

Total assets less current liabilities
  
429,545
429,960

  

Net assets
  
429,545
429,960


Capital and reserves
  

Called up share capital 
  
23,000
23,000

Profit and loss account
  
406,545
406,960

  
429,545
429,960


Page 1

 


GM INSTRUMENTS LIMITED
REGISTERED NUMBER:SC135969


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R S Singh
Director

Date: 30 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


GM INSTRUMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

GM Instruments Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 


GM INSTRUMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Fixtures and fittings
-
18%
Office equipment
-
18%
Plant and machinery
-
18%
Software
-
25%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


GM INSTRUMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 5

 


GM INSTRUMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Licences

£



Cost


At 1 January 2024
3,740



At 31 December 2024

3,740



Amortisation


At 1 January 2024
2,618


Charge for the year on owned assets
561



At 31 December 2024

3,179



Net book value



At 31 December 2024
561



At 31 December 2023
1,122



Page 6

GM INSTRUMENTS LIMITED
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024



5.


Tangible fixed assets






Short-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Software
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
-
37,207
46,031
22,454
24,548
130,240


Additions
17,235
8,822
2,325
1,106
-
29,488



At 31 December 2024

17,235
46,029
48,356
23,560
24,548
159,728



Depreciation


At 1 January 2024
-
23,214
41,808
11,431
16,023
92,476


Charge for the year on owned assets
3,447
4,107
1,179
2,183
4,263
15,179



At 31 December 2024

3,447
27,321
42,987
13,614
20,286
107,655



Net book value



At 31 December 2024
13,788
18,708
5,369
9,946
4,262
52,073



At 31 December 2023
-
13,993
4,223
11,023
8,525
37,764

Page 7
 


GM INSTRUMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
220,508
115,590

Other debtors
134,379
182,071

Prepayments and accrued income
4,353
7,034

359,240
304,695



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
57,112
45,329

Corporation tax
-
29,368

Other taxation and social security
7,571
6,143

Other creditors
509,717
302,802

Accruals and deferred income
4,800
4,400

579,200
388,042


 
Page 8