Registered number
04400123
Microscope Optical Services Limited
Filleted Accounts
31 December 2024
Microscope Optical Services Limited
Registered number: 04400123
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 4,876 5,054
Tangible assets 4 16,479 10,821
21,355 15,875
Current assets
Stocks 5,000 5,000
Debtors 5 170,326 189,602
Cash at bank and in hand 223,861 200,995
399,187 395,597
Creditors: amounts falling due within one year 6 (102,369) (106,985)
Net current assets 296,818 288,612
Total assets less current liabilities 318,173 304,487
Net assets 318,173 304,487
Capital and reserves
Called up share capital 2 2
Revaluation reserve 2 2
Profit and loss account 318,169 304,483
Shareholders' funds 318,173 304,487
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J A Fletcher
Director
Approved by the board on 29 April 2025
Microscope Optical Services Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Fixtures and fittings 20% reducing balance
Computer equipment 33.33% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets
Goodwill Other intangible assets Total
£ £ £
Cost
At 1 January 2024 30,000 6,300 36,300
At 31 December 2024 30,000 6,300 36,300
Amortisation
At 1 January 2024 30,000 1,246 31,246
Provided during the year - 178 178
At 31 December 2024 30,000 1,424 31,424
Net book value
At 31 December 2024 - 4,876 4,876
At 31 December 2023 - 5,054 5,054
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Motor vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 1 January 2024 18,490 12,926 19,600 51,016
Additions - 11,719 333 12,052
At 31 December 2024 18,490 24,645 19,933 63,068
Depreciation
At 1 January 2024 12,430 11,320 16,445 40,195
Charge for the year 1,212 2,665 2,517 6,394
At 31 December 2024 13,642 13,985 18,962 46,589
Net book value
At 31 December 2024 4,848 10,660 971 16,479
At 31 December 2023 6,060 1,606 3,155 10,821
5 Debtors 2024 2023
£ £
Trade debtors 150,826 186,102
Other debtors 16,000 -
Rent deposit 3,500 3,500
170,326 189,602
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,583 12,752
Taxation and social security costs 30,986 41,379
Other creditors 61,680 50,149
Deferred tax 4,120 2,705
102,369 106,985
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 2 2
At 31 December 2024 2 2
8 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
10 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
11 Related party transactions
Dividends of £30,000 were paid in the year to the director of the company. As at the year end the company owed £55,054 to the director. This is made up of directors loan account. The loan is interest free with no fixed date for repayment.
12 Controlling party
The company is under the control of J A Fletcher being director and major shareholder of the company.
13 Other information
Microscope Optical Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Dairy Farm
Upper Stowe
Northants
NN7 4SH
Microscope Optical Services Limited 04400123 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 J A Fletcher No description of principal activity 04400123 2023-01-01 2023-12-31 04400123 core:WithinOneYear 2023-12-31 04400123 core:ShareCapital 2023-12-31 04400123 core:OtherReservesSubtotal 2023-12-31 04400123 core:RetainedEarningsAccumulatedLosses 2023-12-31 04400123 core:RevaluationReserve 2022-12-31 04400123 2024-01-01 2024-12-31 04400123 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04400123 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04400123 bus:Director40 2024-01-01 2024-12-31 04400123 1 2024-01-01 2024-12-31 04400123 2 2024-01-01 2024-12-31 04400123 core:Goodwill 2024-01-01 2024-12-31 04400123 core:LandBuildings 2024-01-01 2024-12-31 04400123 core:PlantMachinery 2024-01-01 2024-12-31 04400123 core:Vehicles 2024-01-01 2024-12-31 04400123 1 2024-01-01 2024-12-31 04400123 countries:England 2024-01-01 2024-12-31 04400123 bus:FRS102 2024-01-01 2024-12-31 04400123 bus:FilletedAccounts 2024-01-01 2024-12-31 04400123 2024-12-31 04400123 core:WithinOneYear 2024-12-31 04400123 core:ShareCapital 2024-12-31 04400123 core:OtherReservesSubtotal 2024-12-31 04400123 core:RetainedEarningsAccumulatedLosses 2024-12-31 04400123 core:Goodwill 2024-12-31 04400123 core:LandBuildings 2024-12-31 04400123 core:PlantMachinery 2024-12-31 04400123 core:Vehicles 2024-12-31 04400123 core:RevaluationReserve 2024-12-31 04400123 2023-12-31 04400123 core:Goodwill 2023-12-31 04400123 core:LandBuildings 2023-12-31 04400123 core:PlantMachinery 2023-12-31 04400123 core:Vehicles 2023-12-31 04400123 core:RevaluationReserve 2023-12-31 iso4217:GBP xbrli:pure