13 false false false 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 2023 - FRS102_2023 425,000 425,000 xbrli:pure xbrli:shares iso4217:GBP 08229251 2023-10-01 2024-09-30 08229251 2024-09-30 08229251 2023-09-30 08229251 2022-10-01 2023-09-30 08229251 2023-09-30 08229251 2022-09-30 08229251 core:PlantMachinery 2023-10-01 2024-09-30 08229251 core:FurnitureFittings 2023-10-01 2024-09-30 08229251 core:MotorVehicles 2023-10-01 2024-09-30 08229251 core:NetGoodwill 2023-10-01 2024-09-30 08229251 bus:Director1 2023-10-01 2024-09-30 08229251 core:NetGoodwill 2024-09-30 08229251 core:PlantMachinery 2023-09-30 08229251 core:FurnitureFittings 2023-09-30 08229251 core:MotorVehicles 2023-09-30 08229251 core:PlantMachinery 2024-09-30 08229251 core:FurnitureFittings 2024-09-30 08229251 core:MotorVehicles 2024-09-30 08229251 core:WithinOneYear 2024-09-30 08229251 core:WithinOneYear 2023-09-30 08229251 core:ShareCapital 2024-09-30 08229251 core:ShareCapital 2023-09-30 08229251 core:RetainedEarningsAccumulatedLosses 2024-09-30 08229251 core:RetainedEarningsAccumulatedLosses 2023-09-30 08229251 core:PlantMachinery 2023-09-30 08229251 core:FurnitureFittings 2023-09-30 08229251 core:MotorVehicles 2023-09-30 08229251 bus:SmallEntities 2023-10-01 2024-09-30 08229251 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08229251 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08229251 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08229251 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 08229251
MB Optical Limited
Filleted Unaudited Financial Statements
30 September 2024
MB Optical Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
125,502
111,429
Current assets
Stocks
26,234
17,895
Debtors
7
345,981
222,328
Investments
8
250,000
Cash at bank and in hand
114,048
370,251
---------
---------
736,263
610,474
Creditors: amounts falling due within one year
9
276,338
282,382
---------
---------
Net current assets
459,925
328,092
---------
---------
Total assets less current liabilities
585,427
439,521
Provisions
Taxation including deferred tax
23,551
20,453
---------
---------
Net assets
561,876
419,068
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
560,876
418,068
---------
---------
Shareholders funds
561,876
419,068
---------
---------
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MB Optical Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 3 June 2025 , and are signed on behalf of the board by:
Mr Patel
Director
Company registration number: 08229251
MB Optical 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 27 Beechcroft Road, Bushey, WD23 2JU.
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.
Revenue recognition
Turnover represents the value of services and product sales under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due excluding value added tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life up to a maximum of 10 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Straight line basis over useful life of 10 years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
25% reducing balance
Motor vehicle
-
25% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
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
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments 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. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 14 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
425,000
---------
Amortisation
At 1 October 2023 and 30 September 2024
425,000
---------
Carrying amount
At 30 September 2024
---------
At 30 September 2023
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
126,843
153,270
43,517
323,630
Additions
11,248
44,658
55,906
---------
---------
--------
---------
At 30 September 2024
138,091
197,928
43,517
379,536
---------
---------
--------
---------
Depreciation
At 1 October 2023
93,009
94,458
24,734
212,201
Charge for the year
11,270
25,867
4,696
41,833
---------
---------
--------
---------
At 30 September 2024
104,279
120,325
29,430
254,034
---------
---------
--------
---------
Carrying amount
At 30 September 2024
33,812
77,603
14,087
125,502
---------
---------
--------
---------
At 30 September 2023
33,834
58,812
18,783
111,429
---------
---------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
36,382
30,591
Other debtors
309,599
191,737
---------
---------
345,981
222,328
---------
---------
8. Investments
2024
2023
£
£
Other investments
250,000
---------
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
146,637
175,067
Corporation tax
56,047
31,419
Social security and other taxes
1,954
4,001
Other creditors
71,700
71,895
---------
---------
276,338
282,382
---------
---------