Robin Hall Optical Ltd
Registered number: 14070505
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 56,000 70,000
Current assets
Debtors 4 39,574 11,980
Cash at bank and in hand 4,777 8,690
44,351 20,670
Creditors: amounts falling due within one year 5 (19,908) (1,936)
Net current assets 24,443 18,734
Total assets less current liabilities 80,444 88,734
Creditors: amounts falling due after more than one year 6 (80,013) (88,582)
Net assets 431 152
Capital and reserves
Called up share capital 100 100
Profit and loss account 331 52
Shareholder's funds 431 152
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 his 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.
Musab Patel
Director
Approved by the board on 10 September 2024
Robin Hall Optical Ltd
Notes to the Accounts
for the year ended 31 March 2024
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Over 5 years
Fixtures & Fittings Over 5 years
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 recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 -
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 70,000
At 31 March 2024 70,000
Amortisation
Provided during the year 14,000
At 31 March 2024 14,000
Net book value
At 31 March 2024 56,000
At 31 March 2023 70,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Debtors 2024 2023
£ £
Other debtors 36,574 11,980
Other loan 3,000 -
39,574 11,980
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors < 1 year 10,000 -
Other taxes and social security costs (1,762) 857
Pension 64 -
Accruals 1,300 -
Director's account (2,287) (200)
Corporation tax 12,593 1,279
19,908 1,936
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 80,013 88,582
7 Profit and loss account 2024
£
At 1 April 2023 52
Profit for the year 23,779
Dividends (23,500)
At 31 March 2024 331
8 Dividends 2024 2023
£ £
Dividends for which the company became liable during the year:
Dividends paid 23,500 5,400
23,500 5,400
9 Related party transactions
Included within the creditors at the year end is £2,287 (2023: £200) due from the company director. During the period the company paid £2,282 of expenses on behalf of the director and the director introduced £195.
10 Controlling party
The ultimate controlling party is MH2 Optics Ltd.
11 Other information
Robin Hall Optical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
11a Greenmount Lane
Bolton
Lancashire
BL1 5JE
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