Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31falseNo description of principal activity2022-08-0188truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05288483 2022-08-01 2023-07-31 05288483 2021-08-01 2022-07-31 05288483 2023-07-31 05288483 2022-07-31 05288483 2021-08-01 05288483 c:Director2 2022-08-01 2023-07-31 05288483 d:PlantMachinery 2022-08-01 2023-07-31 05288483 d:PlantMachinery 2023-07-31 05288483 d:PlantMachinery 2022-07-31 05288483 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05288483 d:FurnitureFittings 2022-08-01 2023-07-31 05288483 d:FurnitureFittings 2023-07-31 05288483 d:FurnitureFittings 2022-07-31 05288483 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05288483 d:ComputerEquipment 2022-08-01 2023-07-31 05288483 d:ComputerEquipment 2023-07-31 05288483 d:ComputerEquipment 2022-07-31 05288483 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05288483 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 05288483 d:OtherPropertyPlantEquipment 2023-07-31 05288483 d:OtherPropertyPlantEquipment 2022-07-31 05288483 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05288483 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05288483 d:CurrentFinancialInstruments 2023-07-31 05288483 d:CurrentFinancialInstruments 2022-07-31 05288483 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05288483 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05288483 d:ShareCapital 2023-07-31 05288483 d:ShareCapital 2022-07-31 05288483 d:ShareCapital 2021-08-01 05288483 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 05288483 d:RetainedEarningsAccumulatedLosses 2023-07-31 05288483 d:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 05288483 d:RetainedEarningsAccumulatedLosses 2022-07-31 05288483 d:RetainedEarningsAccumulatedLosses 2021-08-01 05288483 c:OrdinaryShareClass1 2022-08-01 2023-07-31 05288483 c:OrdinaryShareClass1 2023-07-31 05288483 c:OrdinaryShareClass1 2022-07-31 05288483 c:FRS102 2022-08-01 2023-07-31 05288483 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05288483 c:FullAccounts 2022-08-01 2023-07-31 05288483 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05288483 2 2022-08-01 2023-07-31 05288483 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05288483 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 05288483 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 05288483 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 05288483 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05288483










LASER MICROMACHINING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023



 
LASER MICROMACHINING LIMITED
REGISTERED NUMBER: 05288483

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
306,392
253,006

  
306,392
253,006

Current assets
  

Debtors: amounts falling due within one year
 5 
193,225
255,792

Cash at bank and in hand
 6 
347,644
229,699

  
540,869
485,491

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(219,388)
(136,599)

Net current assets
  
 
 
321,481
 
 
348,892

Total assets less current liabilities
  
627,873
601,898

Deferred tax
 8 
(23,870)
(20,707)

  
 
 
(23,870)
 
 
(20,707)

Net assets
  
604,003
581,191


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
603,903
581,091

  
604,003
581,191


Page 1

 
LASER MICROMACHINING LIMITED
REGISTERED NUMBER: 05288483

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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






N H Rizvi
Director

Date: 9 February 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
LASER MICROMACHINING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2021
100
598,655
598,755



Loss for the year
-
(17,564)
(17,564)



At 1 August 2022
100
581,091
581,191



Profit for the year
-
22,812
22,812


At 31 July 2023
100
603,903
604,003


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
LASER MICROMACHINING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Laser Micromachining Limited is a private company, limited by share capital and incorporated in England and Wales.
The Company's registered office and principal place of business is 12-14 Fforrd Richard Davies, St Asaph Business Park, St Asaph, Denbighshire, LL17 0LJ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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.

Page 4

 
LASER MICROMACHINING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods below.

Depreciation is provided on the following basis:

Plant & machinery
-
33% straight line or over the useful life of the asset
Fixtures & fittings
-
25% straight line
Computer equipment
-
20% straight line
Improvements to property
-
Over life of the lease

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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

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 ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 5

 
LASER MICROMACHINING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Operating leases

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

 
2.10

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

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 balance sheet 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 balance sheet 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 balance sheet date.

Page 6

 
LASER MICROMACHINING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).


4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Computer equipment
Improvements to property
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
2,241,845
17,231
21,645
150,568
2,431,289


Additions
164,010
206
1,702
-
165,918



At 31 July 2023

2,405,855
17,437
23,347
150,568
2,597,207



Depreciation


At 1 August 2022
2,137,152
11,362
16,976
12,793
2,178,283


Charge for the year on owned assets
79,971
1,551
1,513
29,497
112,532



At 31 July 2023

2,217,123
12,913
18,489
42,290
2,290,815



Net book value



At 31 July 2023
188,732
4,524
4,858
108,278
306,392



At 31 July 2022
104,693
5,869
4,669
137,775
253,006


5.


Debtors

2023
2022
£
£

Trade debtors
133,124
162,368

Other debtors
18,002
61,341

Prepayments and accrued income
42,099
32,083

193,225
255,792


Page 7

 
LASER MICROMACHINING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
347,644
229,699



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
23,670
72,074

Other taxation and social security
62,564
30,912

Other creditors
1,755
4,723

Accruals and deferred income
131,399
28,890

219,388
136,599



8.


Deferred taxation




2023
2022


£

£






At beginning of year
(20,707)
2,569


Charged to profit or loss
(3,163)
(23,276)



At end of year
(23,870)
(20,707)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(48,434)
(45,271)

Tax losses carried forward
24,564
24,564

(23,870)
(20,707)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100


Page 8

 
LASER MICROMACHINING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £60,236 (2022: £66,025).  


Page 9