Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 02826685 Mr S J Elliott Mr S A Elliott Ms S A Hayter Mr S J Elliott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02826685 2023-06-30 02826685 2024-06-30 02826685 2023-07-01 2024-06-30 02826685 frs-core:CurrentFinancialInstruments 2024-06-30 02826685 frs-core:Non-currentFinancialInstruments 2024-06-30 02826685 frs-core:ComputerEquipment 2024-06-30 02826685 frs-core:ComputerEquipment 2023-07-01 2024-06-30 02826685 frs-core:ComputerEquipment 2023-06-30 02826685 frs-core:FurnitureFittings 2024-06-30 02826685 frs-core:FurnitureFittings 2023-07-01 2024-06-30 02826685 frs-core:FurnitureFittings 2023-06-30 02826685 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 02826685 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 02826685 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 02826685 frs-core:MotorVehicles 2024-06-30 02826685 frs-core:MotorVehicles 2023-07-01 2024-06-30 02826685 frs-core:MotorVehicles 2023-06-30 02826685 frs-core:PlantMachinery 2024-06-30 02826685 frs-core:PlantMachinery 2023-07-01 2024-06-30 02826685 frs-core:PlantMachinery 2023-06-30 02826685 frs-core:ShareCapital 2024-06-30 02826685 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 02826685 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02826685 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 02826685 frs-bus:SmallEntities 2023-07-01 2024-06-30 02826685 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02826685 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02826685 frs-core:CostValuation 2023-06-30 02826685 frs-core:CostValuation 2024-06-30 02826685 frs-core:ProvisionsForImpairmentInvestments 2023-06-30 02826685 frs-core:ProvisionsForImpairmentInvestments 2024-06-30 02826685 frs-bus:Director1 2023-07-01 2024-06-30 02826685 frs-bus:Director1 2023-06-30 02826685 frs-bus:Director1 2024-06-30 02826685 frs-bus:Director2 2023-07-01 2024-06-30 02826685 frs-bus:Director2 2023-06-30 02826685 frs-bus:Director2 2024-06-30 02826685 frs-bus:Director3 2023-07-01 2024-06-30 02826685 frs-bus:Director3 2023-06-30 02826685 frs-bus:Director3 2024-06-30 02826685 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 02826685 frs-countries:EnglandWales 2023-07-01 2024-06-30 02826685 2022-06-30 02826685 2023-06-30 02826685 2022-07-01 2023-06-30 02826685 frs-core:CurrentFinancialInstruments 2023-06-30 02826685 frs-core:Non-currentFinancialInstruments 2023-06-30 02826685 frs-core:ShareCapital 2023-06-30 02826685 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 02826685
Kingsview Optical Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 02826685
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 448,724 533,826
Investments 5 223,149 223,149
671,873 756,975
CURRENT ASSETS
Stocks 6 75,000 55,000
Debtors 7 771,117 689,204
Cash at bank and in hand 143,357 278,857
989,474 1,023,061
Creditors: Amounts Falling Due Within One Year 8 (371,116 ) (342,158 )
NET CURRENT ASSETS (LIABILITIES) 618,358 680,903
TOTAL ASSETS LESS CURRENT LIABILITIES 1,290,231 1,437,878
Creditors: Amounts Falling Due After More Than One Year 9 (146,365 ) (219,485 )
NET ASSETS 1,143,866 1,218,393
CAPITAL AND RESERVES
Called up share capital 10 2 2
Income Statement 1,143,864 1,218,391
SHAREHOLDERS' FUNDS 1,143,866 1,218,393
Page 1
Page 2
For the year ending 30 June 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 Income Statement.
On behalf of the board
Mr S A Elliott
Director
11 October 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
Kingsview Optical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02826685 . The registered office is Harbour Road, Rye, East Sussex, TN31 7TE.
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.
2.3. 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:
Leasehold Nil
Plant & Machinery 20% Reducing balance method
Motor Vehicles 20% Reducing balance method
Fixtures & Fittings 2% Straight line method
Computer Equipment 20% Reducing balance method
2.4. 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.
2.5. 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: 10 (2023: 11)
10 11
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 867 1,304,117 36,398 161,892
Additions - 27,936 - -
Disposals - (137,724 ) - -
Transfers - 79,372 - (79,372 )
As at 30 June 2024 867 1,273,701 36,398 82,520
Depreciation
As at 1 July 2023 - 920,700 34,136 21,477
Provided during the period - 89,508 566 1,651
Disposals - (116,661 ) - -
Transfers - 783 - (783 )
As at 30 June 2024 - 894,330 34,702 22,345
Net Book Value
As at 30 June 2024 867 379,371 1,696 60,175
As at 1 July 2023 867 383,417 2,262 140,415
Computer Equipment Total
£ £
Cost
As at 1 July 2023 24,729 1,528,003
Additions 1,225 29,161
Disposals - (137,724 )
Transfers - -
As at 30 June 2024 25,954 1,419,440
Depreciation
As at 1 July 2023 17,864 994,177
Provided during the period 1,475 93,200
Disposals - (116,661 )
Transfers - -
As at 30 June 2024 19,339 970,716
Net Book Value
As at 30 June 2024 6,615 448,724
As at 1 July 2023 6,865 533,826
Page 4
Page 5
5. Investments
Subsidiaries
£
Cost
As at 1 July 2023 223,149
As at 30 June 2024 223,149
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 223,149
As at 1 July 2023 223,149
6. Stocks
2024 2023
£ £
Stock 75,000 55,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 204,334 174,589
Amounts owed by participating interests 563,325 461,825
Other debtors 3,458 52,790
771,117 689,204
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,106 8,400
Bank loans and overdrafts 100,729 100,729
Amounts owed to group undertakings 26,631 26,631
Other creditors 164,088 120,001
Taxation and social security 70,562 86,397
371,116 342,158
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 146,365 219,485
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Sebastian Elliott (32,087 ) 1,410 (11,750 ) - (42,428 )
Mr Shaun Elliott (62,147 ) - (35,250 ) - (97,397 )
Ms Sophie Hayter (24,766 ) 12,650 (11,750 ) - (23,866 )
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
At the year end a loan amounting to £26,631 (2023 - £26,231) was due to Ring Sights Defence Group Limited.
During the year the company sold goods amounting to £182,599 (2023 - £66,338) to Ring Sights Defence Group Limited and at the year end £46,197 (2023 - £35,802) was due from Ring Sights Defence Group Limited.
The company loaned Achro Limited £555,000 at an interest rate of 1.5%.
At the balance sheet, Achro Limited owed the company £563,325 (2023 - £461,825). 
Mr S A Elliott is a director of both companies and ultimate shareholder.
Page 6