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Registered Number: 13445858
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 June 2024

for

MI OPTICS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 30,920    38,651 
30,920    38,651 
Current assets      
Stocks 6,730    6,730 
Cash at bank and in hand (254)   53 
6,476    6,783 
Creditors: amount falling due within one year (60,285)   (47,768)
Net current assets (53,809)   (40,985)
 
Total assets less current liabilities (22,889)   (2,334)
Creditors: amount falling due after more than one year (23,029)   (30,217)
Net assets (45,918)   (32,551)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (46,018)   (32,651)
Shareholders' funds (45,918)   (32,551)
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 25 March 2025 and were signed on its behalf by:


-------------------------------
Naveed Rashid
Director
1
General Information
MI OPTICS LTD is a private company, limited by shares, registered in England and Wales, registration number 13445858, registration address 485 Herringthorpe Valley Road, Rotherham, S65 3AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 July 2023 52,471    5,659    2,261    60,391 
Additions      
Disposals      
At 30 June 2024 52,471    5,659    2,261    60,391 
Depreciation
At 01 July 2023 18,889    2,037    814    21,740 
Charge for year 6,717    725    289    7,731 
On disposals      
At 30 June 2024 25,606    2,762    1,103    29,471 
Net book values
Closing balance as at 30 June 2024 26,865    2,897    1,158    30,920 
Opening balance as at 01 July 2023 33,582    3,622    1,447    38,651 


2