Industrial Encoders Direct Limited Company accounts

COMPANY REGISTRATION NUMBER: 03427825

Industrial Encoders Direct Limited

Unaudited Financial Statements

28 February 2025

Industrial Encoders Direct Limited

Financial Statements

Year ended 28 February 2025

Contents	Pages

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3 to 4

Notes to the financial statements	5 to 8

The following pages do not form part of the financial statements

Chartered accountants and business advisers report to the board of directors on the preparation of the unaudited statutory financial statements	10

Industrial Encoders Direct Limited

Directors' Report

Year ended 28 February 2025

The directors present their report and the unaudited financial statements of the company for the year ended 28 February 2025 .

Directors

The directors who served the company during the year were as follows:

K A Lewis
Mrs M Lewis

Small company provisions

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

This report was approved by the board of directors on 23 October 2025 and signed on behalf of the board by:

K A Lewis

Director

Registered office:

Unit 10, Edison Court

Ellice Way

Wrexham Technology Park

Wrexham

LL13 7YT

Industrial Encoders Direct Limited

Statement of Income and Retained Earnings

Year ended 28 February 2025

	2025	2024
Note	£	£
Turnover	780,012	929,342

Cost of sales	541,419	643,398
	---------	---------
Gross profit	238,593	285,944

Distribution costs	15,724	18,271
Administrative expenses	192,786	188,401
Other operating income	3,210	2,458
	---------	---------
Operating profit	33,293	81,730

Other interest receivable and similar income		2,354	1,670
Interest payable and similar expenses		86	–
		---------	---------
Profit before taxation	5	35,561	83,400

Tax on profit	9,763	20,147
	--------	--------
Profit for the financial year and total comprehensive income	25,798	63,253
	--------	--------

Dividends paid and payable	( 56,000)	( 56,000)

Retained earnings at the start of the year	287,940	280,687
	---------	---------
Retained earnings at the end of the year	257,738	287,940
	---------	---------

All the activities of the company are from continuing operations.

Industrial Encoders Direct Limited

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		43,926	61,258

Current assets

Stocks		20,000	20,000
Debtors	7	100,500	102,810
Cash at bank and in hand		224,700	215,789
		---------	---------
		345,200	338,599

Creditors: amounts falling due within one year	8	124,577		102,550
		---------		---------
Net current assets			220,623	236,049
			---------	---------
Total assets less current liabilities			264,549	297,307

Provisions

Taxation including deferred tax	6,711	9,267
	---------	---------
Net assets	257,838	288,040
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	257,738	287,940
	---------	---------
Shareholder funds	257,838	288,040
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Industrial Encoders Direct Limited

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 23 October 2025 , and are signed on behalf of the board by:

K A Lewis

Director

Company registration number: 03427825

Industrial Encoders Direct Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10, Edison Court, Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property improvements	-	25% straight line
Plant and machinery	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 9 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	20,014	22,051
	--------	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 March 2024	56,548	213,043	50,696	35,318	355,605
Additions	7,657	–	–	–	7,657
Disposals	–	–	( 29,707)	–	( 29,707)
	--------	---------	--------	--------	---------
At 28 February 2025	64,205	213,043	20,989	35,318	333,555
	--------	---------	--------	--------	---------
Depreciation
At 1 March 2024	44,061	188,320	29,978	31,987	294,346
Charge for the year	11,538	3,708	3,935	833	20,014
Disposals	–	–	( 24,731)	–	( 24,731)
	--------	---------	--------	--------	---------
At 28 February 2025	55,599	192,028	9,182	32,820	289,629
	--------	---------	--------	--------	---------
Carrying amount
At 28 February 2025	8,606	21,015	11,807	2,498	43,926
	--------	---------	--------	--------	---------
At 29 February 2024	12,487	24,723	20,718	3,331	61,259
	--------	---------	--------	--------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	98,561	100,839
Other debtors	1,939	1,971
	---------	---------
	100,500	102,810
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	79,725	57,716
Social security and other taxes	25,039	28,157
Other creditors	19,813	16,677
	---------	---------
	124,577	102,550
	---------	---------

9. Directors' advances, credits and guarantees

The director operates a loan account with the company, the opening balance of which was £10,035 credit with net movement of £3,934 credit, resulting in a closing balance of £13,968 credit.

Industrial Encoders Direct Limited

Management Information

Year ended 28 February 2025

The following pages do not form part of the financial statements.

Industrial Encoders Direct Limited

Chartered Accountants and Business Advisers Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Industrial Encoders Direct Limited

Year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Industrial Encoders Direct Limited for the year ended 28 February 2025, 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Industrial Encoders Direct Limited, as a body, in accordance with the terms of our engagement letter dated 8 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Industrial Encoders Direct Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Industrial Encoders Direct Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Industrial Encoders Direct 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 Industrial Encoders Direct Limited. You consider that Industrial Encoders Direct 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 Industrial Encoders Direct 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.

BRUCE ROBERTS & CO LIMITED Chartered Accountants and Business Advisers

Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT

23 October 2025