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Registered number: 08423587
Metropia Optics Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Xeinadin South Wales & West Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 08423587
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 10,643 4,637
10,643 4,637
CURRENT ASSETS
Stocks 6 27,603 22,951
Debtors 7 24,009 8,169
Cash at bank and in hand 176,373 149,017
227,985 180,137
Creditors: Amounts Falling Due Within One Year 8 (73,143 ) (70,799 )
NET CURRENT ASSETS (LIABILITIES) 154,842 109,338
TOTAL ASSETS LESS CURRENT LIABILITIES 165,485 113,975
Creditors: Amounts Falling Due After More Than One Year 9 - (16,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,660 ) -
NET ASSETS 162,825 97,308
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 162,823 97,306
SHAREHOLDERS' FUNDS 162,825 97,308
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Helen Fowle
Director
23/07/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 December 2021 2 83,490 83,492
Profit for the year and total comprehensive income - 67,816 67,816
Dividends paid - (54,000) (54,000)
As at 30 November 2022 and 1 December 2022 2 97,306 97,308
Profit for the year and total comprehensive income - 115,517 115,517
Dividends paid - (50,000) (50,000)
As at 30 November 2023 2 162,823 162,825
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Metropia Optics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08423587 . The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8.
The financial statements include restated fgures for the year ended 30th November 2022.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 7)
5 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 140,000
As at 30 November 2023 140,000
Amortisation
As at 1 December 2022 140,000
As at 30 November 2023 140,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 5,657 27,887 2,471 36,015
Additions 8,250 350 - 8,600
As at 30 November 2023 13,907 28,237 2,471 44,615
Depreciation
As at 1 December 2022 2,707 27,319 1,352 31,378
Provided during the period 1,728 170 696 2,594
As at 30 November 2023 4,435 27,489 2,048 33,972
Net Book Value
As at 30 November 2023 9,472 748 423 10,643
As at 1 December 2022 2,950 568 1,119 4,637
Page 5
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6. Stocks
2023 2022
£ £
Stock 27,603 22,951
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 7,025
Prepayments and accrued income 1,125 1,144
VAT 2,091 -
Directors' loan accounts 20,793 -
24,009 8,169
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,916 27,660
Bank loans and overdrafts 16,667 20,000
Corporation tax 32,038 15,802
Other taxes and social security 2,857 5,015
VAT - 1,861
Pension creditor (335 ) 106
Directors' loan accounts - 355
73,143 70,799
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 16,667
- 16,667
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
11. Related Party Transactions
As at Balance sheet date, the director owed the company £20,793 (2022 : the company owed the director £355). The loan will be reapid within 9 months of the year end.

The company paid the director dividends of £50,000 (2022 : £54,000)
12. Ultimate Controlling Party
The company's ultimate controlling party is Helen Fowle by virtue of her ownership of 100% of the issued share capital in the company.
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