IRIS Accounts Production v24.3.2.46 07135109 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071351092023-03-31071351092024-03-31071351092023-04-012024-03-31071351092022-03-31071351092022-04-012023-03-31071351092023-03-3107135109ns15:EnglandWales2023-04-012024-03-3107135109ns14:PoundSterling2023-04-012024-03-3107135109ns10:Director12023-04-012024-03-3107135109ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107135109ns10:SmallEntities2023-04-012024-03-3107135109ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3107135109ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107135109ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107135109ns10:FullAccounts2023-04-012024-03-310713510912023-04-012024-03-3107135109ns10:Director22023-04-012024-03-3107135109ns10:Director32023-04-012024-03-3107135109ns10:Director42023-04-012024-03-3107135109ns10:Director52023-04-012024-03-3107135109ns10:CompanySecretary12023-04-012024-03-3107135109ns10:RegisteredOffice2023-04-012024-03-3107135109ns5:CurrentFinancialInstruments2024-03-3107135109ns5:CurrentFinancialInstruments2023-03-3107135109ns5:Non-currentFinancialInstruments2024-03-3107135109ns5:Non-currentFinancialInstruments2023-03-3107135109ns5:ShareCapital2024-03-3107135109ns5:ShareCapital2023-03-3107135109ns5:RetainedEarningsAccumulatedLosses2024-03-3107135109ns5:RetainedEarningsAccumulatedLosses2023-03-3107135109ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107135109ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-3107135109ns5:PlantMachinery2023-04-012024-03-3107135109ns5:MotorVehicles2023-04-012024-03-3107135109ns5:IntangibleAssetsOtherThanGoodwill2023-03-3107135109ns5:IntangibleAssetsOtherThanGoodwill2024-03-3107135109ns5:IntangibleAssetsOtherThanGoodwill2023-03-3107135109ns5:PlantMachinery2023-03-3107135109ns5:PlantMachinery2024-03-3107135109ns5:PlantMachinery2023-03-3107135109ns5:CostValuation2024-03-3107135109ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107135109ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107135109ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107135109ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107135109ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3107135109ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3107135109ns5:HirePurchaseContracts2024-03-3107135109ns5:HirePurchaseContracts2023-03-3107135109ns5:WithinOneYear2024-03-3107135109ns5:WithinOneYear2023-03-31071351091ns10:Director12023-03-31071351091ns10:Director12022-03-31071351091ns10:Director12023-04-012024-03-31071351091ns10:Director12022-04-012023-03-31071351091ns10:Director12024-03-31071351091ns10:Director12023-03-31071351095ns10:Director52023-03-31071351095ns10:Director52022-03-31071351095ns10:Director52023-04-012024-03-31071351095ns10:Director52022-04-012023-03-31071351095ns10:Director52024-03-31071351095ns10:Director52023-03-31
REGISTERED NUMBER: 07135109 (England and Wales)















MONITEYE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9

Chartered Certified Accountants' Report 10

MONITEYE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G Bewley
C R Keal
G H Phipps
A D Keal
M G E Nockles





SECRETARY: G Bewley





REGISTERED OFFICE: Essex Abel Limited
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF





REGISTERED NUMBER: 07135109 (England and Wales)





ACCOUNTANTS: Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 158,839 203,573
Tangible assets 5 139,551 111,527
Investments 6 6,626 6,626
305,016 321,726

CURRENT ASSETS
Debtors 7 287,326 374,530
Cash at bank 53,032 10,573
340,358 385,103
CREDITORS
Amounts falling due within one year 8 193,494 186,230
NET CURRENT ASSETS 146,864 198,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

451,880

520,599

CREDITORS
Amounts falling due after more than one
year

9

(16,318

)

(22,500

)

PROVISIONS FOR LIABILITIES (31,077 ) (23,234 )
NET ASSETS 404,485 474,865

CAPITAL AND RESERVES
Called up share capital 644 644
Retained earnings 403,841 474,221
SHAREHOLDERS' FUNDS 404,485 474,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





A D Keal - Director


MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Moniteye Limited is a private limited company incorporated in England and Wales under the Companies Act. The address of the registered office is given in the company information section and its principal place of business is at Unit 3, The Sanderum Centre Thame, 30a Upper High Street, Thame, Oxfordshire.

The financial statements are presented in Sterling (£)

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in the accounting policies below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates which could result in a material adjustment to the carrying amounts of assets or liabilities affected in future periods.

Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments; however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Motor vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to/from related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of debtors. The amount of the provision is determined as the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the profit & loss in operating expenses.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Marketing grants
Income from grants have been recognised in the same period as the costs that they relate to.

Revenue recognition
Revenue is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them. With regards to services, revenue is recognised when the rewards can be reliably calculated based upon the completion of the service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 447,338
AMORTISATION
At 1 April 2023 243,765
Charge for year 44,734
At 31 March 2024 288,499
NET BOOK VALUE
At 31 March 2024 158,839
At 31 March 2023 203,573

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 556,125
Additions 107,918
At 31 March 2024 664,043
DEPRECIATION
At 1 April 2023 444,598
Charge for year 79,894
At 31 March 2024 524,492
NET BOOK VALUE
At 31 March 2024 139,551
At 31 March 2023 111,527

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 6,626
NET BOOK VALUE
At 31 March 2024 6,626
At 31 March 2023 6,626

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 127,896 147,903
Amounts owed by associates 150,055 224,079
Other debtors 9,375 2,548
287,326 374,530

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10) 3,208 -
Trade creditors 114,197 151,095
Taxation and social security 9,981 11,991
Other creditors 56,108 13,144
193,494 186,230

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 22,500
Hire purchase contracts (see note 10) 3,818 -
16,318 22,500

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,208 -
Between one and five years 3,818 -
7,026 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,800 1,027

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 7,026 -

The hire purchase contracts are secured on the assets to which they relate.

MONITEYE LIMITED (REGISTERED NUMBER: 07135109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A D Keal
Balance outstanding at start of year - -
Amounts advanced 3,465 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,465 -

M G E Nockles
Balance outstanding at start of year - -
Amounts advanced 2,728 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,728 -

13. RELATED PARTY DISCLOSURES

The company has loaned a company in which the company has a participating interest in £279,135 (2023 - £224,078). Interest is not being charged on this loan.

14. ULTIMATE CONTROLLING PARTY

The company is not under the control of any one person.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MONITEYE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moniteye Limited for the year ended 31 March 2024 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Moniteye Limited, as a body, in accordance with the terms of our engagement letter dated 30 November 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Moniteye Limited and state those matters that we have agreed to state to the Board of Directors of Moniteye Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Moniteye 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 Moniteye Limited. You consider that Moniteye Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Moniteye 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.






Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF


24 March 2025