REGISTERED NUMBER: 01043189 (England and Wales)

Menicon Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N J A Engelhart

K Takeshita

Mrs G L Williamson

Mrs G Williamson

REGISTERED OFFICE:

1 Gatelodge Close

Round Spinney

Northampton

Northamptonshire

NN3 8RJ

REGISTERED NUMBER:

01043189 (England and Wales)

AUDITORS:

Kilby Fox

Statutory Auditor

4 Pavilion Court

600 Pavilion Drive

Northampton Business Park

Northampton

Northamptonshire

NN4 7SL

FIXED ASSETS

Intangible assets

4

2,616

3,361

Tangible assets

5

283,240

251,639

Investments

6

3

3

285,859

255,003

CURRENT ASSETS

Stocks

922,341

1,058,646

Debtors

7

2,428,945

1,685,175

Cash at bank and in hand

2,030,643

1,809,755

5,381,929

4,553,576

CREDITORS

Amounts falling due within one year

8

1,368,003

1,319,726

NET CURRENT ASSETS

4,013,926

3,233,850

TOTAL ASSETS LESS CURRENT LIABILITIES

4,299,785

3,488,853

CAPITAL AND RESERVES

Called up share capital

1,250

1,250

Share premium

5,096,193

5,096,193

Retained earnings

(797,658

)

(1,608,590

)

SHAREHOLDERS' FUNDS

4,299,785

3,488,853

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:

Mrs G L Williamson - Director

1.	STATUTORY INFORMATION

Menicon Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2024 - 67 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

207,257

65,085

272,342

AMORTISATION

At 1 April 2024

207,257

61,724

268,981

Charge for year

-

745

745

At 31 March 2025

207,257

62,469

269,726

NET BOOK VALUE

At 31 March 2025

-

2,616

2,616

At 31 March 2024

-

3,361

3,361

5.	TANGIBLE FIXED ASSETS

Fixtures

Property

Plant and

and

improvements

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2024

100,484

3,161,633

194,178

3,456,295

Additions

-

92,331

1,922

94,253

Disposals

-

(6,964

)

-

(6,964

)

At 31 March 2025

100,484

3,247,000

196,100

3,543,584

DEPRECIATION

At 1 April 2024

100,484

2,934,717

169,455

3,204,656

Charge for year

-

55,669

5,303

60,972

Eliminated on disposal

-

(5,284

)

-

(5,284

)

At 31 March 2025

100,484

2,985,102

174,758

3,260,344

NET BOOK VALUE

At 31 March 2025

-

261,898

21,342

283,240

At 31 March 2024

-

226,916

24,723

251,639

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

3

NET BOOK VALUE

At 31 March 2025

3

At 31 March 2024

3

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,504,256

1,289,263

Amounts owed by group undertakings

174,210

42,650

Other debtors

67,794

51,553

Deferred tax asset

488,543

-

Prepayments and accrued income

194,142

301,709

2,428,945

1,685,175

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

364,345

301,317

Amounts owed to group undertakings

507,670

419,149

Social security and other taxes

339,024

364,541

Other creditors

197

29,217

Accruals

156,767

205,502

1,368,003

1,319,726

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

182,167

202,910

Between one and five years

285,724

418,193

467,891

621,103

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Crooke FCCA (Senior Statutory Auditor)

for and on behalf of Kilby Fox

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The company was under the control of Menicon Holdings B.V. during the year ended 31 March 2025.

Menicon Holdings B.V. is a wholly owned subsidiary of Menicon Co., Limited, a Company registered in Japan under the registration number 9614761, and is the ultimate controlling entity.

The ultimate controlling party is Dr. Hidenari Tanaka, President and Representative Director of Menicon Co., Limited.