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Registration number: 13940418

MFSY Eye Specialist Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2025

 

MFSY Eye Specialist Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

iXBRL Detailed Profit and Loss Account

14

 

MFSY Eye Specialist Ltd

Company Information

Director

Mr Mohammed Faiz Yusuf

Registered office

82 Blackburn Road
Accrington
Lancashire
BB5 1LL

Accountants

A.Y.A Accountants Limited
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

 

MFSY Eye Specialist Ltd

Director's Report for the Year Ended 30 June 2025

The director presents his report and the financial statements for the year ended 30 June 2025.

Director of the company

The director who held office during the year was as follows:

Mr Mohammed Faiz Yusuf

Principal activity

The principal activity of the company is Opticians

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 July 2025
 

.........................................
Mr Mohammed Faiz Yusuf
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
MFSY Eye Specialist Ltd
for the Year Ended 30 June 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MFSY Eye Specialist Ltd for the year ended 30 June 2025 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of MFSY Eye Specialist Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MFSY Eye Specialist Ltd and state those matters that we have agreed to state to the Board of Directors of MFSY Eye Specialist Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MFSY Eye Specialist Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MFSY Eye Specialist Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MFSY Eye Specialist Ltd. You consider that MFSY Eye Specialist Ltd 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 accounts of MFSY Eye Specialist Ltd. 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 accounts.

......................................

A.Y.A Accountants Limited
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

31 July 2025

 

MFSY Eye Specialist Ltd

Profit and Loss Account for the Year Ended 30 June 2025

Note

2025
£

2024
£

Turnover

 

84,948

79,664

Gross profit

 

84,948

79,664

Administrative expenses

 

(28,849)

(21,972)

Operating profit

 

56,099

57,692

Other interest receivable and similar income

 

259

121

Profit before tax

4

56,358

57,813

Tax on profit

 

(11,214)

(11,607)

Profit for the financial year

 

45,144

46,206

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

MFSY Eye Specialist Ltd

Statement of Comprehensive Income for the Year Ended 30 June 2025

2025
£

2024
£

Profit for the year

45,144

46,206

Total comprehensive income for the year

45,144

46,206

 

MFSY Eye Specialist Ltd

(Registration number: 13940418)
Balance Sheet as at 30 June 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

530

556

Current assets

 

Debtors

6

3,873

2,175

Cash at bank and in hand

 

36,874

32,726

 

40,747

34,901

Creditors: Amounts falling due within one year

7

(11,692)

(12,136)

Net current assets

 

29,055

22,765

Net assets

 

29,585

23,321

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

29,485

23,221

Shareholders' funds

 

29,585

23,321

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 July 2025
 

.........................................
Mr Mohammed Faiz Yusuf
Director

 

MFSY Eye Specialist Ltd

Statement of Changes in Equity for the Year Ended 30 June 2025

Share capital
£

Retained earnings
£

Total
£

At 1 July 2024

100

23,221

23,321

Profit for the year

-

45,144

45,144

Dividends

-

(38,880)

(38,880)

At 30 June 2025

100

29,485

29,585

Share capital
£

Retained earnings
£

Total
£

At 1 July 2023

100

13,515

13,615

Profit for the year

-

46,206

46,206

Dividends

-

(36,500)

(36,500)

At 30 June 2024

100

23,221

23,321

 

MFSY Eye Specialist Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
82 Blackburn Road
Accrington
Lancashire
BB5 1LL
England

These financial statements were authorised for issue by the director on 31 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

MFSY Eye Specialist Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% Per Annum Reducing Balance Basis

Office Equipment

20% Per Annum Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the 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 the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

MFSY Eye Specialist Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

111

139

 

MFSY Eye Specialist Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2024

539

330

869

Additions

-

85

85

At 30 June 2025

539

415

954

Depreciation

At 1 July 2024

194

119

313

Charge for the year

69

42

111

At 30 June 2025

263

161

424

Carrying amount

At 30 June 2025

276

254

530

At 30 June 2024

345

211

556

6

Debtors

Current

2025
£

2024
£

Trade debtors

3,873

2,175

 

3,873

2,175

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

-

51

Taxation and social security

 

11,692

12,085

 

11,692

12,136

8

Share capital

Allotted, called up and fully paid shares

 

MFSY Eye Specialist Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

2025

2024

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

-

51

10

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £388.80 (2024 - £365.00) per each Ordinary Share Capital

38,880

36,500

 

 

11

Related party transactions

 

MFSY Eye Specialist Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

12,570

12,570

 

MFSY Eye Specialist Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 30 June 2025

2025
£

2024
£

Turnover/revenue

84,948

79,664

Cost of sales

Opening stock/inventories

-

-

Closing stock/inventories

-

-

Gross profit

84,948

79,664

Distribution costs

Administrative expenses

Audit and accountancy other services

(768)

(714)

Depreciation of fixed assets

(111)

(139)

Other staff costs

(300)

-

Wages and salaries excluding directors

(1)

-

Salaries and fees, directors

(12,570)

(12,570)

Social security costs, directors

(479)

(479)

Staff costs, directors

(13,049)

(13,049)

Travel and subsistence

(9,188)

(6,527)

Training

(541)

-

Bank charges

-

(12)

Insurance costs

(730)

(720)

Telecommunications

(97)

(70)

Charitable donations

(3,259)

-

Subscriptions

(415)

(405)

Other costs

(390)

(336)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

56,099

57,692

Non-bank interest and similar income receivable

259

121

Profit on ordinary activities before taxation

56,358

57,813

Tax on profit or loss on ordinary activities

(11,214)

(11,607)

Profit for the financial year

45,144

46,206