1 September 2023 v2025.4.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBP135576872023-09-012024-08-31135576872024-08-3113557687bus:Director12023-09-012024-08-3113557687bus:Director22023-09-012024-08-3113557687bus:RegisteredOffice2023-09-012024-08-31135576872022-09-012023-08-31135576872023-08-3113557687core:WithinOneYear2024-08-3113557687core:WithinOneYear2023-08-3113557687core:AfterOneYear2024-08-3113557687core:AfterOneYear2023-08-3113557687core:ShareCapital2024-08-3113557687core:ShareCapital2023-08-3113557687core:RetainedEarningsAccumulatedLosses2024-08-3113557687core:RetainedEarningsAccumulatedLosses2023-08-3113557687core:RetainedEarningsAccumulatedLosses2022-09-01135576872022-09-0113557687core:RetainedEarningsAccumulatedLosses2022-09-012023-08-3113557687core:ShareCapital2022-09-012023-08-3113557687core:ShareCapital2023-09-0113557687core:RetainedEarningsAccumulatedLosses2023-09-01135576872023-09-0113557687core:RetainedEarningsAccumulatedLosses2023-09-012024-08-3113557687core:NetGoodwill2023-09-012024-08-3113557687core:Goodwill2023-09-012024-08-3113557687core:OfficeEquipment2023-09-012024-08-3113557687core:MotorVehicles2023-09-012024-08-3113557687core:AdditionsToInvestments2024-08-3113557687core:CostValuation2024-08-311355768712023-09-012024-08-3113557687countries:EnglandWales2023-09-012024-08-3113557687bus:AuditExemptWithAccountantsReport2023-09-012024-08-3113557687bus:PrivateLimitedCompanyLtd2023-09-012024-08-3113557687bus:SmallEntities2023-09-012024-08-3113557687bus:AbridgedAccounts2023-09-012024-08-31
Company registration number:
13557687
ZAWADZKI OPTICS LTD
Unaudited Abridged Financial Statements for the year ended
31 August 2024
ZAWADZKI OPTICS LTD
Officers and Professional Advisers
Year ended
31 August 2024
Directors
Mr Daniel Zawadzki
Mrs Rebecca Zawadzki
Registered office
32 Hillcot Close
Quedgeley
Gloucester
GL2 4FU
United Kingdom
Accountant
A to Z Book-Keeping Services
27 Sandyleaze
Longlevens
Gloucester
GL2 0PX
United Kingdom
ZAWADZKI OPTICS LTD
Directors' Report
Year ended
31 August 2024
The directors present their report and the unaudited
abridged financial statements
of the company for the year ended
31 August 2024
.

Directors

The directors who served the company during the year were as follows:
Mr Daniel Zawadzki
Mrs Rebecca Zawadzki

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
24 January 2025
and signed on behalf of the board by:
Mr Daniel Zawadzki
Director
ZAWADZKI OPTICS LTD
Report of the Accountant to the directors of ZAWADZKI OPTICS LTD
Year ended
31 August 2024
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 August 2024
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
A to Z Book-Keeping Services
27 Sandyleaze
Longlevens
Gloucester
GL2 0PX
United Kingdom
Date:
24 January 2025
ZAWADZKI OPTICS LTD
Income Statement
Year ended
31 August 2024
20242023
Note££
Turnover -  
34,972
 
Gross profit -  
34,972
 
Administrative expenses
6,139
 
(20,666
)
Operating profit
6,139
 
14,306
 
Income from other fixed asset investments
39,200
  -  
Other interest receivable and similar income
67
 
22
 
Interest payable and similar expenses
(290
)
(290
)
Profit before tax 4
45,116
 
14,038
 
Tax on profit -  
(254
)
Profit for the financial year
45,116
 
13,784
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
ZAWADZKI OPTICS LTD
Abridged Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Intangible assets 6 -  
98,820
 
Tangible assets 6
37,668
 
387
 
Investments 6
122,000
  -  
159,668
 
99,207
 
Current assets    
Cash at bank and in hand
1,258
 
6,785
 
Creditors: amounts falling due within one year
(13,738
)
(13,647
)
Net current liabilities
(12,480
)
(6,862
)
Total assets less current liabilities 147,188   92,345  
Creditors: amounts falling due after more than one year
(128,779
)
(118,052
)
Net assets/(liabilities)
18,409
 
(25,707
)
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
18,407
 
(25,709
)
Shareholders funds/(deficit)
18,409
 
(25,707
)
For the year ending
31 August 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 August 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
24 January 2025
, and are signed on behalf of the board by:
Mr Daniel Zawadzki
Director
Company registration number:
13557687
ZAWADZKI OPTICS LTD
Statement of Changes in Equity
Year ended
31 August 2024
Called up share capitalProfit and loss accountTotal
£££
At 1 September 2022 -  
(35,493
)
(35,493
)
Profit for the year- 13,784 13,784 
Total comprehensive income for the year- 
13,784
 
13,784
 
Issue of shares
2
 - 
2
 
Dividends declared and paid or payable during the year- 
(4,000
)
(4,000
)
Total investments by and distributions to owners
2
 
(4,000
)
(3,998
)
At 31 August 2023 and 
1 September 2023
2
 
(25,709
)
(25,707
)
Profit for the year- 45,116 45,116 
Total comprehensive income for the year- 
45,116
 
45,116
 
Dividends declared and paid or payable during the year- 
(1,000
)
(1,000
)
Total investments by and distributions to owners- 
(1,000
)
(1,000
)
At
31 August 2024
2
 
18,407
 
18,409
 
ZAWADZKI OPTICS LTD
Notes to the Abridged Financial Statements
Year ended
31 August 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
32 Hillcot Close
,
Quedgeley
,
Gloucester
,
GL2 4FU
, United Kingdom.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
10 Year Straight Line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
18% Reducing Balance
Motor vehicles
18% Reducing Balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Profit before tax

Profit before tax is stated after charging/(crediting):
20242023
££
Reversal of impairment of intangible assets
(23,180
) -  

5 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

6 Fixed assets

Intangible assetsTangible assetsInvestmentsTotal
££££
Cost        
At
1 September 2023
122,000
 
576
  -   122,576  
Additions -  
45,550
 
122,000
  167,550  
Disposals
(122,000
) -   -   (122,000 )
At
31 August 2024
-  
46,126
 
122,000
  168,126  
Amortisation, depreciation and impairment        
At
1 September 2023
23,180
 
189
  -   23,369  
Charge -  
8,269
  -   8,269  
Reversal of past impairment losses
(23,180
) -   -   (23,180 )
At
31 August 2024
-  
8,458
  -   8,458  
Carrying amount        
At
31 August 2024
-  
37,668
 
122,000
 
159,668
 
At 31 August 2023
98,820
 
387
  -  
99,207
 
During the preparation of the Financial Statements for the year ending 31st August 2024 it came to light that the Investment Asset had been classified as Goodwill and subsequently amortised. Resulting in Amortisation had been overstated by £23,180 and the Fixed Assets being understated by £23,180. The relevant adjustments have been made in the current financial year, ending 31st August 2024.

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows: