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REGISTERED NUMBER: 11721520 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MASONS AVENUE OPTICS LIMITED

MASONS AVENUE OPTICS LIMITED (REGISTERED NUMBER: 11721520)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASONS AVENUE OPTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: K Agyei





REGISTERED OFFICE: 11 Mason's Aveneue
London
EC2V 5HR





REGISTERED NUMBER: 11721520 (England and Wales)





ACCOUNTANTS: Arithma Accountants Limited
2nd Floor
15 - 19 Cavendish Place
London
W1G 0DD

MASONS AVENUE OPTICS LIMITED (REGISTERED NUMBER: 11721520)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,892 67,594

CURRENT ASSETS
Stocks 110,450 106,747
Debtors 5 235,363 100,529
Cash at bank and in hand 2,240 32,951
348,053 240,227
CREDITORS
Amounts falling due within one year 6 186,432 181,864
NET CURRENT ASSETS 161,621 58,363
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,513

125,957

CREDITORS
Amounts falling due after more than one
year

7

(152,041

)

(75,258

)

PROVISIONS FOR LIABILITIES (7,456 ) (7,456 )
NET ASSETS 55,016 43,243

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 54,816 43,043
55,016 43,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MASONS AVENUE OPTICS LIMITED (REGISTERED NUMBER: 11721520)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2024 and were signed by:





K Agyei - Director


MASONS AVENUE OPTICS LIMITED (REGISTERED NUMBER: 11721520)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Masons Avenue Optics 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.

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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

MASONS AVENUE OPTICS LIMITED (REGISTERED NUMBER: 11721520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligation is charged to profit and loss account over the period of the lease and represents a constant proportion of the balance of the capital repayments outstanding.

Rental paid under operating leases are charged to profit & loss on a straight line basis over the lease term.

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.

OTHER OPERATING INCOME
2023 2022
£    £   
Grants received - 12,000

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 128,691
Additions 2,930
At 30 November 2023 131,621
DEPRECIATION
At 1 December 2022 61,097
Charge for year 17,632
At 30 November 2023 78,729
NET BOOK VALUE
At 30 November 2023 52,892
At 30 November 2022 67,594

MASONS AVENUE OPTICS LIMITED (REGISTERED NUMBER: 11721520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 118,858 61,315
Other debtors 116,505 39,214
235,363 100,529

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,396 -
Trade creditors 13,405 4,109
Taxation and social security 32,840 58,004
Other creditors 121,791 119,751
186,432 181,864

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 117,242 34,036
Other creditors 34,799 41,222
152,041 75,258

Bank loans consist of a government backed bounce-back loan, on which 2.5% interest is payable from the anniversary of the receipt of the loan, unless the loan is repaid prior to the anniversary date.

8. RELATED PARTY DISCLOSURES

The other debtors includes an amount of £105,069 (2022-£34,078) relating to loan given to Mason Avenue Holdings Ltd.
The director owns 100% of the shareholding in Mason Avenue Holdings Ltd.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Masons Avenue Holdings Limited.

The director Mr K. Agyei owns 100% of the shares in Masons Avenue Holdings Limited.