Registered number
10590843
Munshi Optical Limited
Filleted Accounts
31 January 2023
Munshi Optical Limited
Registered number: 10590843
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 721 721
Cash at bank and in hand 4,310 13,112
5,031 13,833
Creditors: amounts falling due within one year 4 (4,989) (2,005)
Net current assets 42 11,828
Net assets 42 11,828
Capital and reserves
Called up share capital 1 1
Profit and loss account 41 11,827
Shareholder's funds 42 11,828
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N. N. Munshi
Director
Approved by the board on 12 October 2023
Munshi Optical Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is not recognised recognised in the accounts.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Other debtors 721 721
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 22
Director's account 3,956 1,005
Accruals 1,033 978
4,989 2,005
5 Related party transactions
At the reporting date the company owed £3,956 (2022: £1,005) to N. N. Munshi who is the sole director and shareholder of the company. This loan is unsecured, interest free and repayable on demand.
6 Controlling party
The company is controlled by N. N. Munshi.
7 Other information
Munshi Optical Limited is a private company limited by shares and incorporated in England. Its registered office is:
62 Sixth Avenue
London
E12 5PR
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