Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07805939 Mrs Nasreen Ramji Mr Hasnain Ramji Mr Hasnain Ramji iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07805939 2023-03-31 07805939 2024-03-31 07805939 2023-04-01 2024-03-31 07805939 frs-core:CurrentFinancialInstruments 2024-03-31 07805939 frs-core:Non-currentFinancialInstruments 2024-03-31 07805939 frs-core:ComputerEquipment 2024-03-31 07805939 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07805939 frs-core:ComputerEquipment 2023-03-31 07805939 frs-core:FurnitureFittings 2024-03-31 07805939 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07805939 frs-core:FurnitureFittings 2023-03-31 07805939 frs-core:NetGoodwill 2024-03-31 07805939 frs-core:NetGoodwill 2023-04-01 2024-03-31 07805939 frs-core:NetGoodwill 2023-03-31 07805939 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 07805939 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07805939 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 07805939 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07805939 frs-core:MotorVehicles 2024-03-31 07805939 frs-core:MotorVehicles 2023-04-01 2024-03-31 07805939 frs-core:MotorVehicles 2023-03-31 07805939 frs-core:PlantMachinery 2024-03-31 07805939 frs-core:PlantMachinery 2023-04-01 2024-03-31 07805939 frs-core:PlantMachinery 2023-03-31 07805939 frs-core:ShareCapital 2024-03-31 07805939 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07805939 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07805939 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07805939 frs-bus:SmallEntities 2023-04-01 2024-03-31 07805939 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07805939 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07805939 frs-bus:Director1 2023-04-01 2024-03-31 07805939 frs-bus:Director2 2023-04-01 2024-03-31 07805939 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07805939 frs-core:CurrentFinancialInstruments 1 2024-03-31 07805939 frs-core:CurrentFinancialInstruments 2 2024-03-31 07805939 frs-countries:EnglandWales 2023-04-01 2024-03-31 07805939 2022-03-31 07805939 2023-03-31 07805939 2022-04-01 2023-03-31 07805939 frs-core:CurrentFinancialInstruments 2023-03-31 07805939 frs-core:Non-currentFinancialInstruments 2023-03-31 07805939 frs-core:ShareCapital 2023-03-31 07805939 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07805939 frs-core:CurrentFinancialInstruments 1 2023-03-31 07805939 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 07805939
HR Optics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07805939
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 25,250
Tangible Assets 5 71,049 76,600
71,049 101,850
CURRENT ASSETS
Stocks 6 9,500 27,500
Debtors 7 252,917 245,125
Cash at bank and in hand 578,556 351,318
840,973 623,943
Creditors: Amounts Falling Due Within One Year 8 (204,853 ) (125,123 )
NET CURRENT ASSETS (LIABILITIES) 636,120 498,820
TOTAL ASSETS LESS CURRENT LIABILITIES 707,169 600,670
Creditors: Amounts Falling Due After More Than One Year 9 (27,527 ) (32,595 )
NET ASSETS 679,642 568,075
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 679,542 567,975
SHAREHOLDERS' FUNDS 679,642 568,075
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For the year ending 31 March 2024 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
Mr Hasnain Ramji
Director
17/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HR Optics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07805939 . The registered office is The Gables, 37 Paradise Lane, Hall Green, Birmingham, West Midlands, B28 0DY.
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 10 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:
Freehold NA
Leasehold NA
Plant & Machinery 15% on WDV
Motor Vehicles 15% on WDV
Fixtures & Fittings 15% on WDV
Computer Equipment 15% on WDV
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
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2.7. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 9)
7 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 252,500
As at 31 March 2024 252,500
Amortisation
As at 1 April 2023 227,250
Provided during the period 25,250
As at 31 March 2024 252,500
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 25,250
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 2,595 52,108 50,900 34,858
Additions - 3,600 - -
As at 31 March 2024 2,595 55,708 50,900 34,858
...CONTINUED
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Depreciation
As at 1 April 2023 - 33,330 7,635 25,811
Provided during the period - 3,356 6,490 1,357
As at 31 March 2024 - 36,686 14,125 27,168
Net Book Value
As at 31 March 2024 2,595 19,022 36,775 7,690
As at 1 April 2023 2,595 18,778 43,265 9,047
Computer Equipment Total
£ £
Cost
As at 1 April 2023 4,607 145,068
Additions 2,928 6,528
As at 31 March 2024 7,535 151,596
Depreciation
As at 1 April 2023 1,692 68,468
Provided during the period 876 12,079
As at 31 March 2024 2,568 80,547
Net Book Value
As at 31 March 2024 4,967 71,049
As at 1 April 2023 2,915 76,600
6. Stocks
2024 2023
£ £
Stock 9,500 27,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,079 7,323
VAT 6,522 3,743
14,601 11,066
Due after more than one year
HAS Property Ltd - Loan 238,316 234,059
252,917 245,125
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 69,489 42,005
Corporation tax 64,123 46,056
Other taxes and social security 1,379 1,466
Other creditors 49,421 14,286
Accruals 12,136 13,005
HP creditors(Newtesla) < 1YR 8,305 8,305
204,853 125,123
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
HP Creditors (New tesla) > 1YR 27,527 32,595
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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