4 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05243460 2022-04-01 2023-03-31 05243460 2023-03-31 05243460 2022-03-31 05243460 2021-04-01 2022-03-31 05243460 2022-03-31 05243460 core:PlantMachinery 2022-04-01 2023-03-31 05243460 core:MotorVehicles 2022-04-01 2023-03-31 05243460 bus:Director7 2022-04-01 2023-03-31 05243460 core:PlantMachinery 2022-03-31 05243460 core:PlantMachinery 2023-03-31 05243460 core:WithinOneYear 2023-03-31 05243460 core:WithinOneYear 2022-03-31 05243460 core:ShareCapital 2023-03-31 05243460 core:ShareCapital 2022-03-31 05243460 core:RetainedEarningsAccumulatedLosses 2023-03-31 05243460 core:RetainedEarningsAccumulatedLosses 2022-03-31 05243460 core:PlantMachinery 2022-03-31 05243460 bus:SmallEntities 2022-04-01 2023-03-31 05243460 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05243460 bus:FullAccounts 2022-04-01 2023-03-31 05243460 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05243460 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05243460 core:ComputerEquipment 2022-04-01 2023-03-31 05243460 core:ComputerEquipment 2022-03-31 05243460 core:ComputerEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 05243460
M.I.S.S. OPHTHALMICS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
M.I.S.S. OPHTHALMICS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,780
2,029
CURRENT ASSETS
Stocks
163,614
156,968
Debtors
6
67,027
82,894
Cash at bank and in hand
543,488
465,584
---------
---------
774,129
705,446
CREDITORS: amounts falling due within one year
7
111,454
147,812
---------
---------
NET CURRENT ASSETS
662,675
557,634
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
664,455
559,663
---------
---------
NET ASSETS
664,455
559,663
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
200
200
Profit and loss account
664,255
559,463
---------
---------
SHAREHOLDERS FUNDS
664,455
559,663
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 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 .
M.I.S.S. OPHTHALMICS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
Mr I J Short
Director
Company registration number: 05243460
M.I.S.S. OPHTHALMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Ryder Court, Saxon Way East, Oakley Hay Industrial Estate, Corby, NN18 9NX.
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. 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 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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
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:
Computer Equipment
-
33% straight line
Motor Vehicles
-
25% straight line
Equipment
-
20% straight line
Impairment of fixed assets
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.
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
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 4 (2022: 4 ).
5. TANGIBLE ASSETS
Computer Equipment
Equipment
Total
£
£
£
Cost
At 1 April 2022
18,773
4,713
23,486
Additions
262
262
Disposals
( 1,286)
( 1,286)
--------
-------
--------
At 31 March 2023
17,487
4,975
22,462
--------
-------
--------
Depreciation
At 1 April 2022
17,074
4,383
21,457
Charge for the year
300
211
511
Disposals
( 1,286)
( 1,286)
--------
-------
--------
At 31 March 2023
16,088
4,594
20,682
--------
-------
--------
Carrying amount
At 31 March 2023
1,399
381
1,780
--------
-------
--------
At 31 March 2022
1,699
330
2,029
--------
-------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
66,098
82,091
Other debtors
929
803
--------
--------
67,027
82,894
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
39,895
78,234
Social security and other taxes
67,609
67,001
Other creditors
3,950
2,577
---------
---------
111,454
147,812
---------
---------