ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Registered number: 08095180

MINSTER OPTICAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

MINSTER OPTICAL LIMITED

REGISTERED NUMBER: 08095180

BALANCE SHEET

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		1,011		1,961
Current assets
Stocks		40,357		43,775
Debtors	5	75,455		101,714
Cash at bank and in hand		19,022		63,595
		134,834		209,084
Creditors: amounts falling due within one year	6	(104,990)		(114,782)
Net current assets			29,844		94,302
Total assets less current liabilities			30,855		96,263
Creditors: amounts falling due after more than one year	7		(25,984)		(41,650)
Provisions for liabilities
Deferred tax			(253)		(640)
Net assets			4,618		53,973

Capital and reserves
Called up share capital	20	20
Profit and loss account	4,598	53,953
	4,618	53,973

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MINSTER OPTICAL LIMITED

REGISTERED NUMBER: 08095180

BALANCE SHEET (CONTINUED)

AS AT 31 OCTOBER 2025

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 year 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 16 July 2026.

O I Blow

Director

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MINSTER OPTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

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 55a Portland Square, Sutton In Ashfield, NG17 1AZ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 directors continue to monitor the position closely, however they believe that the company will remain at its current level of activity subject to their continued support and they therefore continue 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.

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MINSTER OPTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

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 year 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.

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MINSTER OPTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

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.

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.

Employees

The average monthly number of employees, including directors, during the year was 7 (2024 - 6).

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MINSTER OPTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

4.	Tangible fixed assets

	Plant and machinery	Fixtures and fittings	Office equipment	Total
	£	£	£	£
Cost or valuation
At 1 November 2024	147,700	12,264	10,205	170,169
At 31 October 2025	147,700	12,264	10,205	170,169
Depreciation
At 1 November 2024	146,904	11,773	9,530	168,207
Charge for the year on owned assets	199	229	523	951
At 31 October 2025	147,103	12,002	10,053	169,158
Net book value
At 31 October 2025	597	262	152	1,011
At 31 October 2024	796	490	675	1,961

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MINSTER OPTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Debtors

					2025	2024
					£	£



Trade debtors	22,623	16,387
Amounts owed by joint ventures and associated undertakings	44,979	82,677
Other debtors	6,079	887
Prepayments and accrued income	1,774	1,763
	75,455	101,714

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Bank loans	-	11,250
Other loans	23,662	20,825
Trade creditors	18,982	12,115
Other taxation and social security	12,094	36,045
Other creditors	-	275
Accruals and deferred income	50,252	34,272
	104,990	114,782

The following liabilities were secured:
	2025	2024
	£	£


	Bank loan	-	11,250

Details of security provided:

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

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MINSTER OPTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	25,984	41,650
	25,984	41,650

Amounts falling due within one year
Bank loans	-	11,250
Other loans	23,662	20,825
Amounts falling due 1-2 years
Other loans	25,984	20,825
Amounts falling due 2-5 years
Other loans	-	20,825

	49,646	73,725

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 £2,796 (2024 - £1,808). Contributions totalling £NIL (2024 - £275) were payable to the fund at the balance sheet date.

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