ACCOUNTS - Final Accounts

Registered number: 01702660

	ANNUAL REPORT AND FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	STABLE MICRO SYSTEMS LIMITED


STABLE MICRO SYSTEMS LIMITED

COMPANY INFORMATION

Directors	I D Bateson
	M Proto
	T N Raven
	J A Walker
	J Smewing


Company secretary	S Johnson


Registered number	01702660


Registered office	Vienna Court
	Lammas Road
	Godalming
	Surrey
	GU7 1YL


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


STABLE MICRO SYSTEMS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 7


STABLE MICRO SYSTEMS LIMITED REGISTERED NUMBER:01702660

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		493,229		473,184
			493,229		473,184
Current assets
Stocks		1,215,693		1,593,517
Debtors: amounts falling due within one year	5	2,071,316		1,991,834
Cash at bank and in hand		2,007,384		2,370,289
		5,294,393		5,955,640
Creditors: amounts falling due within one year	6	(888,851)		(1,023,122)
Net current assets			4,405,542		4,932,518
Total assets less current liabilities			4,898,771		5,405,702
Provisions for liabilities
Deferred tax		(46,658)		(70,215)
			(46,658)		(70,215)
Net assets			4,852,113		5,335,487

Capital and reserves
Allotted, called up and fully paid share capital	300	300
Profit and loss account	4,851,813	5,335,187
	4,852,113	5,335,487

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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1


STABLE MICRO SYSTEMS LIMITED REGISTERED NUMBER:01702660

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

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

I D Bateson

Director

Date: 25 November 2025

The notes on pages 3 to 7 form part of these financial statements.

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STABLE MICRO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Stable Micro Systems Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office, which is also its principle place of business, and the Company's registered number is disclosed on the company information page.

The Company's principal activity is the manufacturing of scientific instruments.

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

Revenue

Revenue from the sale of specialist measurement equipment 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, which is usually when the goods are dispatched to the customer and the significant risks and rewards of ownership have transferred. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

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, as stated below.

Depreciation is provided on the following basis:

Plant and machinery	-	20%	reducing balance
Motor vehicles	-	25%	reducing balance
Office equipment	-	20%	reducing balance
Computer equipment	-	25%	reducing balance

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.

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STABLE MICRO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

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.

2.5

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 non-puttable ordinary shares.

2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation 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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within administrative expenses.

2.7

Operating leases: the Company as lessee

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

2.8

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.

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STABLE MICRO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

Research and development

All expenditure on research and development is recognised as an expense when it is incurred.

Employees

The average monthly number of employees, including the directors, during the year was 32 (2024 -31).

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STABLE MICRO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	85,078	622,469	154,065	456,670	1,318,282
Additions	6,327	150,736	-	17,381	174,444
Disposals	-	(76,880)	-	-	(76,880)
At 31 March 2025	91,405	696,325	154,065	474,051	1,415,846
Depreciation
At 1 April 2024	55,253	287,267	143,215	359,363	845,098
Charge for the year	6,176	97,561	2,170	26,145	132,052
Disposals	-	(54,533)	-	-	(54,533)
At 31 March 2025	61,429	330,295	145,385	385,508	922,617
Net book value
At 31 March 2025	29,976	366,030	8,680	88,543	493,229
At 31 March 2024	29,825	335,202	10,850	97,307	473,184

Debtors

					2025	2024
					£	£


Trade debtors	984,583	764,634
Amounts owed by group undertakings	1,004,896	1,017,896
Other debtors	15,627	30,751
Prepayments and accrued income	66,210	178,553
	2,071,316	1,991,834

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STABLE MICRO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	184,626	285,885
Amounts owed to group undertakings	-	9,000
Corporation tax	424,912	458,264
Other taxation and social security	48,277	56,440
Accruals and deferred income	231,036	213,533
	888,851	1,023,122

7.	Related party transactions
	The Company has taken advantage of the exemption available within FRS 102 Section 33.1A, from disclosing transactions entered into with entities which are a wholly owned part of the group.

8.	Controlling party

The ultimate parent entity is Stable Micro Systems (Holdings) Limited, a company which is registered in England and Wales. Stable Micro Systems (Holdings) Limited was under the control of the directors, J A Walker, I D Bateson and T N Raven throughout the current and previous period. The directors do not consider there to be any one ultimate controlling party.

9.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 25 November 2025 by Anna Johnston ACA (Senior statutory auditor) on behalf of Menzies LLP.

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