30 23 April 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,310 1,310 1,310 xbrli:pure xbrli:shares iso4217:GBP 02695835 2023-09-01 2024-08-31 02695835 2024-08-31 02695835 2023-08-31 02695835 2022-09-01 2023-08-31 02695835 2023-08-31 02695835 2022-08-31 02695835 core:FurnitureFittings 2023-09-01 2024-08-31 02695835 bus:Director1 2023-09-01 2024-08-31 02695835 core:FurnitureFittings 2023-08-31 02695835 core:FurnitureFittings 2024-08-31 02695835 core:WithinOneYear 2024-08-31 02695835 core:WithinOneYear 2023-08-31 02695835 core:ShareCapital 2024-08-31 02695835 core:ShareCapital 2023-08-31 02695835 core:RetainedEarningsAccumulatedLosses 2024-08-31 02695835 core:RetainedEarningsAccumulatedLosses 2023-08-31 02695835 core:BetweenOneFiveYears 2023-08-31 02695835 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 02695835 core:Non-currentFinancialInstruments 2024-08-31 02695835 core:Non-currentFinancialInstruments 2023-08-31 02695835 core:FurnitureFittings 2023-08-31 02695835 bus:SmallEntities 2023-09-01 2024-08-31 02695835 bus:Audited 2023-09-01 2024-08-31 02695835 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 02695835 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02695835 bus:FullAccounts 2023-09-01 2024-08-31 02695835 core:OfficeEquipment 2023-09-01 2024-08-31 02695835 core:OfficeEquipment 2023-08-31 02695835 core:OfficeEquipment 2024-08-31
COMPANY REGISTRATION NUMBER: 02695835
Laser 2000 (UK) Limited
Filleted Financial Statements
For the year ended
31 August 2024
Laser 2000 (UK) Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
25,607
65,712
Investments
6
1,310
1,310
--------
--------
26,917
67,022
Current assets
Stocks
806,538
646,726
Debtors
7
1,345,562
1,471,227
Cash at bank and in hand
599,658
1,223,421
------------
------------
2,751,758
3,341,374
Creditors: amounts falling due within one year
8
1,141,878
1,618,516
------------
------------
Net current assets
1,609,880
1,722,858
------------
------------
Total assets less current liabilities
1,636,797
1,789,880
Provisions
Taxation including deferred tax
133
9,327
------------
------------
Net assets
1,636,664
1,780,553
------------
------------
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
1,586,664
1,730,553
------------
------------
Shareholder funds
1,636,664
1,780,553
------------
------------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Laser 2000 (UK) Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
D A Gillett
Director
Company registration number: 02695835
Laser 2000 (UK) Limited
Notes to the Financial Statements
Year ended 31 August 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 Unit 9 Avro Court, Ermine Business Park, Huntingdon, Cambridgeshire, PE29 6XS.
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.
Judgements and key sources of estimation uncertainty
The directors make estimates and assumptions about the future. These estimates and assumptions impact recognised assets and liabilities, as well as revenue and expenses and other disclosures. These estimates are based on historical experience and on various assumptions considered reasonable under the prevailing conditions. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The directors do not consider there are any estimates or assumptions that may have a significant effect on the carrying amounts of assets and liabilities within the financial year other than: 1. Stock Provision The directors make a provision for loan and demo stock on the basis that its sale value is diminished.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income 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 material 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.
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:
Fixtures & Fittings
-
33% straight line
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Financial instruments
The group and company hold basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the group and company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
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 30 (2023: 24 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 September 2023
137,295
336,157
473,452
Disposals
( 17,862)
( 99,222)
( 117,084)
---------
---------
---------
At 31 August 2024
119,433
236,935
356,368
---------
---------
---------
Depreciation
At 1 September 2023
100,983
306,757
407,740
Charge for the year
22,282
17,823
40,105
Disposals
( 17,862)
( 99,222)
( 117,084)
---------
---------
---------
At 31 August 2024
105,403
225,358
330,761
---------
---------
---------
Carrying amount
At 31 August 2024
14,030
11,577
25,607
---------
---------
---------
At 31 August 2023
36,312
29,400
65,712
---------
---------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 September 2023 and 31 August 2024
1,310
-------
Impairment
At 1 September 2023 and 31 August 2024
-------
Carrying amount
At 31 August 2024
1,310
-------
At 31 August 2023
1,310
-------
7. Debtors
2024
2023
£
£
Trade debtors
1,280,106
1,392,187
Other debtors
65,456
79,040
------------
------------
1,345,562
1,471,227
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
661,980
954,217
Amounts owed to group undertakings and undertakings in which the company has a participating interest
4,906
5,476
Social security and other taxes
140,171
304,977
Other creditors
334,821
353,846
------------
------------
1,141,878
1,618,516
------------
------------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
51,600
51,600
Later than 1 year and not later than 5 years
51,600
--------
---------
51,600
103,200
--------
---------
10. Contingencies
The company has provided a cross guarantee to Santander UK PLC for the ultimate parent undertaking.
11. Summary audit opinion
The auditor's report dated 23 April 2025 was unqualified .
The senior statutory auditor was Jonathan Day , for and on behalf of Streets Audit LLP .
12. Related party transactions
The company has taken advantage of the exemption available under FRS 102 Section 1A from disclosing transactions with group companies.
13. Controlling party
The company is a wholly owned subsidiary of Advanced Technology Ventures (UK) Limited , a company incorporated in England and Wales. AVR Photonics Group Limited is the ultimate parent company, a company registered in England and Wales, and prepares consolidated group financial statements. The address of the registered office is Unit 9 Avro Court, Ermine Business Park, Huntingdon, Cambridgeshire, England, PE29 6XS.