Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312023-07-01falsefalse6No description of principal activity6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08095180 2023-07-01 2024-10-31 08095180 2022-07-01 2023-06-30 08095180 2024-10-31 08095180 2023-06-30 08095180 c:Director4 2023-07-01 2024-10-31 08095180 d:PlantMachinery 2023-07-01 2024-10-31 08095180 d:PlantMachinery 2024-10-31 08095180 d:PlantMachinery 2023-06-30 08095180 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-10-31 08095180 d:MotorVehicles 2023-07-01 2024-10-31 08095180 d:MotorVehicles 2024-10-31 08095180 d:MotorVehicles 2023-06-30 08095180 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-10-31 08095180 d:FurnitureFittings 2023-07-01 2024-10-31 08095180 d:FurnitureFittings 2024-10-31 08095180 d:FurnitureFittings 2023-06-30 08095180 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-10-31 08095180 d:OfficeEquipment 2023-07-01 2024-10-31 08095180 d:OfficeEquipment 2024-10-31 08095180 d:OfficeEquipment 2023-06-30 08095180 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-10-31 08095180 d:OwnedOrFreeholdAssets 2023-07-01 2024-10-31 08095180 d:CurrentFinancialInstruments 2024-10-31 08095180 d:CurrentFinancialInstruments 2023-06-30 08095180 d:Non-currentFinancialInstruments 2024-10-31 08095180 d:Non-currentFinancialInstruments 2023-06-30 08095180 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 08095180 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08095180 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 08095180 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08095180 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 08095180 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 08095180 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 08095180 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 08095180 d:ShareCapital 2024-10-31 08095180 d:ShareCapital 2023-06-30 08095180 d:RetainedEarningsAccumulatedLosses 2024-10-31 08095180 d:RetainedEarningsAccumulatedLosses 2023-06-30 08095180 c:FRS102 2023-07-01 2024-10-31 08095180 c:IndependentExaminationCharity 2023-07-01 2024-10-31 08095180 c:FullAccounts 2023-07-01 2024-10-31 08095180 c:PrivateLimitedCompanyLtd 2023-07-01 2024-10-31 08095180 e:PoundSterling 2023-07-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 08095180









MINSTER OPTICAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2024

 
MINSTER OPTICAL LIMITED
REGISTERED NUMBER: 08095180

BALANCE SHEET
AS AT 31 OCTOBER 2024

31 October
30 June
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,961
9,110

Current assets
  

Stocks
  
43,775
34,291

Debtors
 5 
101,714
63,663

Cash at bank and in hand
  
63,595
86,864

  
209,084
184,818

Creditors: amounts falling due within one year
 6 
(114,782)
(102,612)

Net current assets
  
 
 
94,302
 
 
82,206

Total assets less current liabilities
  
96,263
91,316

Creditors: amounts falling due after more than one year
 7 
(41,650)
(88,167)

Provisions for liabilities
  

Deferred tax
  
(640)
(2,277)

Net assets
  
53,973
872


Capital and reserves
  

Called up share capital 
  
20
20

Profit and loss account
  
53,953
852

  
53,973
872


Page 1

 
MINSTER OPTICAL LIMITED
REGISTERED NUMBER: 08095180
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 July 2025.




O I Blow
Director

Page 2

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

1.


General information

The company is a private limited company, which is incorporated and registered in England (registration number: 08095180). The address of the registered office is Cromwell House, 68 West Gate, Mansfield, Nottinghamshire, NG18 1RR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the date of signing there remains a degree of uncertainty about the full economic impact of the wider geopolitical environment and the cost of living. The director continues to monitor the position closely, however he believes that the company will remain at its current level of activity subject to his continued support and he therefore continues to adopt the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Page 3

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.3
Revenue (continued)


 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% straight line basis
Motor vehicles
-
20% straight line basis
Fixtures and fittings
-
20% straight line basis
Office equipment
-
1/3 straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2023 - 6).

Page 5

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
146,705
15,300
12,264
9,747
184,016


Additions
995
-
-
458
1,453


Disposals
-
(15,300)
-
-
(15,300)



At 31 October 2024

147,700
-
12,264
10,205
170,169



Depreciation


At 1 July 2023
146,705
7,650
11,545
9,007
174,907


Charge for the period on owned assets
199
-
229
523
951


Disposals
-
(7,650)
-
-
(7,650)



At 31 October 2024

146,904
-
11,774
9,530
168,208



Net book value



At 31 October 2024
796
-
490
675
1,961



At 30 June 2023
-
7,650
719
741
9,110

Page 6

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

5.


Debtors


31 October
30 June
2024
2023
£
£



Trade debtors
16,387
17,518

Amounts owed by joint ventures and associated undertakings
82,677
-

Other debtors
887
45,429

Prepayments and accrued income
1,763
716

101,714
63,663


Included within other debtors due within one year is a loan to the director, amounting to  £NIL (2023 - £44,513). Amounts repaid during the period totalled £44,513.  The main conditions were as follows:

The loan is interest free and repayable on demand.


6.


Creditors: amounts falling due within one year

31 October
30 June
2024
2023
£
£

Bank loans
11,250
22,500

Other loans
20,825
20,825

Trade creditors
12,115
25,116

Other taxation and social security
36,045
25,190

Other creditors
275
481

Accruals and deferred income
34,272
8,500

114,782
102,612


The following liabilities were secured:

31 October
30 June
2024
2023
£
£



Bank loan
11,250
22,500

Details of security provided:

The bank loan is secured by a fixed and floating charge over the company's assets

Page 7

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

7.


Creditors: Amounts falling due after more than one year

31 October
30 June
2024
2023
£
£

Bank loans
-
18,750

Other loans
41,650
69,417

41,650
88,167


The following liabilities were secured:

31 October
30 June
2024
2023
£
£



Bank loan
-
18,750

Details of security provided:

The bank loan is secured by a fixed and floating charge over the company's assets


8.


Loans


Analysis of the maturity of loans is given below:


31 October
30 June
2024
2023
£
£

Amounts falling due within one year

Bank loans
11,250
22,500

Other loans
20,825
20,825

Amounts falling due 1-2 years

Bank loans
-
18,750

Other loans
20,825
20,825

Amounts falling due 2-5 years

Other loans
20,825
48,592


73,725
131,492


Page 8

 
MINSTER OPTICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,808 (2023 - £1,401). Contributions totalling £275 (2023 - £261) were payable to the fund at the balance sheet date.

 
Page 9