Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2023-07-01false77falsetruefalse 04264964 2023-07-01 2024-06-30 04264964 2022-07-01 2023-06-30 04264964 2024-06-30 04264964 2023-06-30 04264964 c:Director1 2023-07-01 2024-06-30 04264964 d:FurnitureFittings 2023-07-01 2024-06-30 04264964 d:FurnitureFittings 2024-06-30 04264964 d:FurnitureFittings 2023-06-30 04264964 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04264964 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 04264964 d:Goodwill 2023-07-01 2024-06-30 04264964 d:Goodwill 2024-06-30 04264964 d:Goodwill 2023-06-30 04264964 d:CurrentFinancialInstruments 2024-06-30 04264964 d:CurrentFinancialInstruments 2023-06-30 04264964 d:Non-currentFinancialInstruments 2024-06-30 04264964 d:Non-currentFinancialInstruments 2023-06-30 04264964 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04264964 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04264964 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 04264964 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04264964 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 04264964 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 04264964 d:ShareCapital 2024-06-30 04264964 d:ShareCapital 2023-06-30 04264964 d:RetainedEarningsAccumulatedLosses 2024-06-30 04264964 d:RetainedEarningsAccumulatedLosses 2023-06-30 04264964 c:FRS102 2023-07-01 2024-06-30 04264964 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04264964 c:FullAccounts 2023-07-01 2024-06-30 04264964 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04264964 d:WithinOneYear 2024-06-30 04264964 d:WithinOneYear 2023-06-30 04264964 d:BetweenOneFiveYears 2024-06-30 04264964 d:BetweenOneFiveYears 2023-06-30 04264964 d:MoreThanFiveYears 2024-06-30 04264964 d:MoreThanFiveYears 2023-06-30 04264964 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 04264964 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 04264964 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 04264964 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 04264964 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04264964 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04264964 2 2023-07-01 2024-06-30 04264964 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2024-06-30 04264964 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-06-30 04264964 d:LeasedAssetsHeldAsLessee 2024-06-30 04264964 d:LeasedAssetsHeldAsLessee 2023-06-30 04264964 d:Goodwill d:OwnedIntangibleAssets 2023-07-01 2024-06-30 04264964 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04264964










MID ESSEX VISION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MID ESSEX VISION LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MID ESSEX VISION LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mid Essex Vision Limited for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Mid Essex Vision Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mid Essex Vision Limited and state those matters that we have agreed to state to the director of Mid Essex Vision Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mid Essex Vision Limited and its director for our work or for this report. 

It is your duty to ensure that Mid Essex Vision Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mid Essex Vision Limited. You consider that Mid Essex Vision Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Mid Essex Vision Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Kingsridge House
601 London Road
Westcliff-on-Sea
Essex
SS0 9PE
16 January 2025
Page 1

 
MID ESSEX VISION LIMITED
REGISTERED NUMBER: 04264964

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
12,924
25,845

Tangible assets
 5 
7,467
13,143

  
20,391
38,988

Current assets
  

Stocks
  
68,730
65,291

Debtors: amounts falling due within one year
 6 
38,653
37,080

Cash at bank and in hand
 7 
8,089
4,366

  
115,472
106,737

Creditors: amounts falling due within one year
 8 
(108,232)
(98,613)

Net current assets
  
 
 
7,240
 
 
8,124

Total assets less current liabilities
  
27,631
47,112

Creditors: amounts falling due after more than one year
 9 
(17,750)
(40,315)

Provisions for liabilities
  

Deferred tax
 12 
(1,867)
(2,568)

  
 
 
(1,867)
 
 
(2,568)

Net assets
  
8,014
4,229


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
8,012
4,227

  
8,014
4,229


Page 2

 
MID ESSEX VISION LIMITED
REGISTERED NUMBER: 04264964

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 January 2025.




K. Castle
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a company limited by shares and was incorporated in Wales. The registered office address is:
Kingsridge House 
601 London Road
Westcliff on Sea
Essex 
SS0 9PE

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
20% on reducing balance / 7 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 7

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
129,213



At 30 June 2024

129,213



Amortisation


At 1 July 2023
103,368


Charge for the year on owned assets
12,921



At 30 June 2024

116,289



Net book value



At 30 June 2024
12,924



At 30 June 2023
25,845



Page 8

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
70,940



At 30 June 2024

70,940



Depreciation


At 1 July 2023
57,797


Charge for the year on owned assets
1,105


Charge for the year on financed assets
4,571



At 30 June 2024

63,473



Net book value



At 30 June 2024
7,467



At 30 June 2023
13,143

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Furniture, fittings and equipment
3,050
7,621

3,050
7,621

Page 9

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
28,914
30,498

Other debtors
6,238
3,082

Prepayments and accrued income
3,501
3,500

38,653
37,080



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,089
4,366

8,089
4,366



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
17,294
16,791

Trade creditors
48,720
37,783

Corporation tax
25,698
22,320

Other taxation and social security
780
1,158

Obligations under finance lease and hire purchase contracts
5,323
5,417

Other creditors
450
839

Accruals and deferred income
9,967
14,305

108,232
98,613


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
5,323
5,417

5,323
5,417

Details of security provided:

The above obligations are secured by the assets held under finance leases or hire purchase contracts shown in note 5.

Page 10

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
17,750
34,992

Net obligations under finance leases and hire purchase contracts
-
5,323

17,750
40,315


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
-
5,323

-
5,323

Details of security provided:

The above obligations are secured by the assets held under finance leases or hire purchase contracts shown in note 5.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
17,294
16,791


17,294
16,791


Amounts falling due 2-5 years

Bank loans
17,750
34,992


17,750
34,992


35,044
51,783


Page 11

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,323
5,417

Between 1-5 years
-
5,323

5,323
10,740

Page 12

 
MID ESSEX VISION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Deferred taxation




2024


£






At beginning of year
2,568


Charged to profit or loss
(701)



At end of year
1,867

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,867
2,568

1,867
2,568


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,850 (2023 - £1,245) . Contributions totalling £425 (2023 - £488) were payable to the fund at the balance sheet date and are included in creditors.


14.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
14,000
14,000

Later than 1 year and not later than 5 years
56,000
56,000

Later than 5 years
11,666
25,666

81,666
95,666


15.


Related party transactions

During the year the company paid dividends totalling £42,600 (2022 - £72,000)  to K. Castle.
K. Castle has given a personal guarantee in respect of a bank loan which amounted to £15,124 (2023 £21,841) at the balance sheet date. 
Other creditors includes director's loan account £25 (2023 £350).

Page 13

 
MID ESSEX VISION LIMITED
 

Page 14