REGISTERED NUMBER: 04149289 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

SPECIALIST INSTRUMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

Mr G C Rees

Mr N D Jones

REGISTERED OFFICE:

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

REGISTERED NUMBER:

04149289 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

FIXED ASSETS

Intangible assets

4

30,843

34,343

Tangible assets

5

36,745

44,371

67,588

78,714

CURRENT ASSETS

Stocks

168,220

138,620

Debtors

6

205,982

248,478

Cash at bank

385,801

502,633

760,003

889,731

CREDITORS

Amounts falling due within one year

7

144,544

323,346

NET CURRENT ASSETS

615,459

566,385

TOTAL ASSETS LESS CURRENT LIABILITIES

683,047

645,099

PROVISIONS FOR LIABILITIES

16,668

19,229

NET ASSETS

666,379

625,870

CAPITAL AND RESERVES

Called up share capital

209

209

Share premium

821

821

Retained earnings

665,349

624,840

SHAREHOLDERS' FUNDS

666,379

625,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2026 and were signed on its behalf by:

Mr G C Rees - Director

1.	STATUTORY INFORMATION

Specialist Instruments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the design, manufacture and sale of instrumentation and control systems.

Revenue for the provision of services is recognised when the client approve the services at which time the risks and rewards associated with the services pass to the client

The company does not enter into long term contracts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant & Equipment

-

25% on cost

Motor vehicles

-

33% on reducing balance

Computer equipment

-

33% on cost

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

Stocks

The company holds a stock of components, parts and consumables associated with its trade. Items that are not subject to physical obsolescence are valued at cost. Certain item are subject to technological obsolescence and in these circumstances have been valued by the directors at the lower of cost or net realisable value.

Parts and components are issued to production on a first in first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asset is impaired.

Cash and cash equivalents

These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.

Creditors

Creditors are not interest bearing and are stated at their nominal value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2025 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 February 2025

and 31 January 2026

34,996

AMORTISATION

At 1 February 2025

653

Amortisation for year

3,500

At 31 January 2026

4,153

NET BOOK VALUE

At 31 January 2026

30,843

At 31 January 2025

34,343

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant &

Motor

Computer

property

Equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2025

33,828

22,729

20,890

49,051

126,498

Additions

-

245

-

4,622

4,867

At 31 January 2026

33,828

22,974

20,890

53,673

131,365

DEPRECIATION

At 1 February 2025

9,682

20,870

8,488

43,087

82,127

Charge for year

3,382

1,230

4,093

3,788

12,493

At 31 January 2026

13,064

22,100

12,581

46,875

94,620

NET BOOK VALUE

At 31 January 2026

20,764

874

8,309

6,798

36,745

At 31 January 2025

24,146

1,859

12,402

5,964

44,371

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

176,384

224,245

Other debtors

4,583

-

Prepayments

25,015

24,233

205,982

248,478

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

62,943

149,205

Tax

31,246

104,950

Social security and other taxes

-

7,836

VAT

20,347

50,107

Other creditors

24,583

5,100

Directors' current accounts

414

1,342

Accrued expenses

5,011

4,806

144,544

323,346

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

11,440

6,789

Between one and five years

6,379

7,355

17,819

14,144

9.	SHARE-BASED PAYMENT TRANSACTIONS

1st Enterprise Management Incentive (EMI) Employee Share Option Scheme

Key employees participate in the Enterprise Management Incentive employee share option scheme which provides the employees the right to purchase shares at specific dates.

The options were granted with an exercise price of £127.18, are exercisable at the discretion of The Company Directors and were originally due to expire 10 years after the grant date. The period of the exercise of the grant was extended to 15 years in the year. Vesting of the options is subject to the employee continuing to work for the company for at least 25 hours a week or 75% of their working time.

Share Option Movements during the year ended 31 January 2026

Number

Weighted average exercise price

£

Outstanding and exercisable at 01.02.25 and 31.01.26

20

127.18

2nd Enterprise Management Incentive (EMI) Employee Share Option Scheme

Key employees participate in the Enterprise Management Incentive employee share option scheme which provides the employees the right to purchase shares.

The options were granted with an exercise price of £222.34, are exercisable at the discretion of The Company Directors and expire 10 years after the grant date. Vesting of the options is subject to the employee continuing to work for the company for at least 25 hours a week or 75% of their working time.

Share Option Movements during the year ended 31 January 2026

Number

Weighted average exercise price

£

Outstanding and exercisable at 01.02.25 and 31.01.26

10

222.34

10.	RELATED PARTY DISCLOSURES

The following advances and credits subsisted during the years ended 31st January 2026 and 2025:

2026

2025

£

£

Director

Balance outstanding at the start of the year

-

-

Amounts advanced

14,323

8,775

Amount repaid

(14,323

)

(8,775

)

Balance outstanding at the end of the year

-

2026

2025

Director

£

£

Balance outstanding at the start of the year

-

-

Amounts advanced

3,071

4,331

Amount repaid

(3,071

)

(4,331

)

Balance outstanding at the end of the year

-

-

The loans are repayable on demand and subject to interest payable at commercial rates.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Specialist Instruments Limited for the year ended 31 January 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Specialist Instruments 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 Specialist Instruments Limited and state those matters that we have agreed to state to the Board of Directors of Specialist Instruments 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 Specialist Instruments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Specialist Instruments 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 Specialist Instruments Limited. You consider that Specialist Instruments 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 Specialist Instruments 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.

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

21 October 2026