Moor Instruments Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Moor Instruments Ltd

(Registration number: 02209367)
Statement of Financial Position as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	16,662	18,990
Tangible assets	5	48,767	51,952
		65,429	70,942
Current assets
Stocks	6	1,126,940	1,002,376
Debtors	7	684,210	1,024,671
Cash at bank and in hand		1,019,521	784,317
		2,830,671	2,811,364
Creditors: Amounts falling due within one year	8	(234,185)	(139,032)
Net current assets		2,596,486	2,672,332
Total assets less current liabilities		2,661,915	2,743,274
Provisions for liabilities		(12,165)	(13,733)
Net assets		2,649,750	2,729,541
Capital and reserves
Called up share capital		500,071	500,071
Other reserves		84,747	84,747
Profit and loss account		2,064,932	2,144,723
Shareholders' funds		2,649,750	2,729,541

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:
 

Moor Instruments Ltd

(Registration number: 02209367)
Statement of Financial Position as at 30 April 2025 (continued)

Dr D Boggett Director

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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:
Millwey Industrial Estate
Millwey Rise
Axminster
Devon
EX13 5HU

Principal activity

The principal activity of the company is that of the development, manufacture and sale of biomedical electronic equipment.

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 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 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position 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
Leasehold properties	Straight line over the life of the lease
Plant and machinery	25% reducing balance
Fittings fixtures and equipment	20% reducing balance
Website	Straight line over 3 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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
Patents	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

2	Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2024 - 24).

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 May 2024	159,783	159,783
Additions acquired separately	742	742
At 30 April 2025	160,525	160,525
Amortisation
At 1 May 2024	140,793	140,793
Amortisation charge	3,070	3,070
At 30 April 2025	143,863	143,863
Carrying amount
At 30 April 2025	16,662	16,662
At 30 April 2024	18,990	18,990

5	Tangible assets

	Long leasehold property £	Fixtures, fittings and equipment £	Plant and machinery £	Website £	Total £
Cost or valuation
At 1 May 2024	133,772	16,835	265,015	14,470	430,092
Additions	-	-	10,192	-	10,192
At 30 April 2025	133,772	16,835	275,207	14,470	440,284
Depreciation
At 1 May 2024	125,839	15,930	221,902	14,469	378,140
Charge for the year	888	162	12,327	-	13,377
At 30 April 2025	126,727	16,092	234,229	14,469	391,517
Carrying amount
At 30 April 2025	7,045	743	40,978	1	48,767
At 30 April 2024	7,933	905	43,113	1	51,952

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

5	Tangible assets (continued)

Included within the net book value of land and buildings above is £7,045 (2024 - £7,933) in respect of long leasehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	1,126,940	1,002,376

7

Debtors

	2025 £	2024 £
Trade debtors	645,785	914,312
Other debtors	-	32,499
Prepayments	38,425	77,860
	684,210	1,024,671

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	145,252	82,955
Taxation and social security	53,878	6,856
Accruals and deferred income	35,055	15,203
Other creditors	-	34,018
	234,185	139,032

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Moor Instruments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

10	Related party transactions

During the year the company entered into the following transactions with related parties:

The leasehold premises occupied by the company are rented from the director and main shareholder, rent of £22,080 (2024 - £22,080) was paid during the year. The company is also responsible for the maintenance of the fabric of the buildings.

At 30 April 2025 two companies controlled by the directors of Moor Instruments Limited owed the company a total of £467,352 (2024 - £627,792) this is included in trade debtors.
Two connected companies assist in the promotion of the business of Moor Instruments Limited.