8 false false true false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 9,255 1,502 10,757 xbrli:pure xbrli:shares iso4217:GBP 07712773 2023-10-01 2024-09-30 07712773 2024-09-30 07712773 2023-09-30 07712773 2022-10-01 2023-09-30 07712773 2023-09-30 07712773 2022-09-30 07712773 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07712773 bus:Director1 2023-10-01 2024-09-30 07712773 core:LandBuildings 2023-09-30 07712773 core:FurnitureFittings 2023-09-30 07712773 core:LandBuildings 2024-09-30 07712773 core:FurnitureFittings 2024-09-30 07712773 core:DeferredTaxation 2023-10-01 2024-09-30 07712773 core:LandBuildings 2023-10-01 2024-09-30 07712773 core:FurnitureFittings 2023-10-01 2024-09-30 07712773 core:WithinOneYear 2024-09-30 07712773 core:WithinOneYear 2023-09-30 07712773 core:ShareCapital 2024-09-30 07712773 core:ShareCapital 2023-09-30 07712773 core:RetainedEarningsAccumulatedLosses 2024-09-30 07712773 core:RetainedEarningsAccumulatedLosses 2023-09-30 07712773 core:BetweenOneFiveYears 2024-09-30 07712773 core:AcceleratedTaxDepreciationDeferredTax 2024-09-30 07712773 core:AcceleratedTaxDepreciationDeferredTax 2023-09-30 07712773 core:LandBuildings 2023-09-30 07712773 core:FurnitureFittings 2023-09-30 07712773 core:DeferredTaxation 2023-09-30 07712773 core:DeferredTaxation 2024-09-30 07712773 bus:SmallEntities 2023-10-01 2024-09-30 07712773 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07712773 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07712773 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07712773 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 07712773
MACKERETH OPTICIANS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2024
MACKERETH OPTICIANS LIMITED
STATEMENT OF FINANCIAL POSITION
30 September 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
147,314
149,148
CURRENT ASSETS
Stocks
21,408
20,357
Debtors
6
10,272
9,610
Cash at bank and in hand
108,631
78,820
----------
----------
140,311
108,787
CREDITORS: amounts falling due within one year
7
52,491
35,930
----------
----------
NET CURRENT ASSETS
87,820
72,857
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
235,134
222,005
PROVISIONS
Taxation including deferred tax
8
10,757
9,255
----------
----------
NET ASSETS
224,377
212,750
----------
----------
MACKERETH OPTICIANS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
224,277
212,650
----------
----------
SHAREHOLDERS FUNDS
224,377
212,750
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 3 March 2025 , and are signed on behalf of the board by:
H Culhane-Rozsa
Director
Company registration number: 07712773
MACKERETH OPTICIANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Regent Street, Halifax, West Yorkshire, HX1 2SE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for provision of optical services supplied, stated net of discounts and of Value Added Tax.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixture & fittings and computers
-
Fixture & fittings 15% reducing balance computers 33.33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 8 (2023: 7 ).
5. TANGIBLE ASSETS
Land and buildings
Fixtures, fittings and computers
Total
£
£
£
Cost
At 1 October 2023
136,634
120,187
256,821
Additions
10,378
10,378
----------
----------
----------
At 30 September 2024
136,634
130,565
267,199
----------
----------
----------
Depreciation
At 1 October 2023
32,531
75,142
107,673
Charge for the year
2,732
9,480
12,212
----------
----------
----------
At 30 September 2024
35,263
84,622
119,885
----------
----------
----------
Carrying amount
At 30 September 2024
101,371
45,943
147,314
----------
----------
----------
At 30 September 2023
104,103
45,045
149,148
----------
----------
----------
6. DEBTORS
2024
2023
£
£
Trade debtors
7,604
8,252
Other debtors
2,668
1,358
---------
-------
10,272
9,610
---------
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
19,748
10,751
Corporation tax
28,457
22,120
Other creditors
4,286
3,059
---------
---------
52,491
35,930
---------
---------
8. PROVISIONS
Deferred tax (note 9)
£
At 1 October 2023
9,255
Additions
1,502
---------
At 30 September 2024
10,757
---------
9. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 8)
10,757
9,255
---------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
10,757
9,255
---------
-------
10. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
8,056
Later than 1 year and not later than 5 years
21,482
---------
----
29,538
---------
----
11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director had an unsecured interest free loan with the company. The director's loan account was in credit at the year end. The maximum amount the director's loan account was overdrawn in the year was £6,245. The loan is repayable on demand.