OTTICA LIMITED
Director: Eldad Rothman
Registered Office: 37 Broadhurst Gardens
London
NW6 3QT
Registered No: 10548653 (England & Wales)
Financial statements
For the year ended 31 December 2022
page
Statement of financial position 1
Notes to the financial statements 2-4
OTTICA LIMITED
Statement of financial position as at 31 December 2022
31.12.2022 31.12.2021
Notes £ £ £
Current assets
Debtors 5 0 3,671
Cash at bank and in hand 236 170
236 3,841
Creditors: amounts falling due
within one year 6 (235) (3,840)
Net current liabilities (235) 1
Total net assets £ 1 £ 1
Capital and deficit
31.12.2022 31.12.2021
£ £ £
Share capital 7 1 1
Profit and loss account 0 0
Capital and deficit £ 1 £ 1
For the year ending 31 December 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
The financial statements have been prepared in accordance with special provision of Part 15 of the Companies Act 2006 relating to small companies and with the provisions of FRS 102 Section 1A Small Entities.
The notes on pages 2 to 4 form an integral part of these financial statements.
The financial statements on pages 1 to 4 were approved by the Board of Directors and were signed on its behalf by:
Eldad Rothman
Director 17 October 2023
Company number: 10548653
OTTICA LIMITED
Notes to the financial statements - 31 December 2022
COMPANY INFORMATION
1. Company Information
Ottica Limited is a private limited company incorporated and domiciled in the UK. The address of its registered office is 37 Broadhurst Gardens, London, NW6 3QT.
The company is a wholly owned subsidiary of Optimax Investments Ltd, a company registered in Israel, whose addressis: Habarzel 34, Tel Aviv, Israel, 69710.
2. Statement of Compliance
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006.
3. Accounting Policies
Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention.
The financial statements are presented in Pound Sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Financial instruments
The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments:
(i) Financial assets
Basic financial assets including other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period.
(ii) Financial liabilities
Basic financial liabilities including other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method.
OTTICA LIMITED
Notes to the financial statements - 31 December 2022
Going concern
The company is dormant and does not have any activities.
The parent company will continue to support the company and guarantees to meet all its future liabilities.
Based on the above the director is in the view that the financial statements can be prepared on a going concern basis.
4. Employees
2022 2021
Number of employees 0 0
5. Debtors
31.12.2022 31.12.2021
£ £
Amount owed by group undertaking 0 3,671
0 3,671
6. Creditors: amounts falling due
within one year
31.12.2022 31.12.2021
£ £
Parent company 235 0
Accruals 0 3,840
235 3,840
7. Share capital
31.12.2022 31.12.2021
£ £
Allotted, called up and fully paid:
1 ordinary shares of £1 each 1 1
OTTICA LIMITED
Notes to the financial statements - 31 December 2022
8. Related party transactions
Control:
The immediate and ultimate parent company is Optimax Investments Ltd a company registered in Israel whose address is Habarzel 34, Tel Aviv, Israel, 69710.
Optimax Invetments Ltd is the smallest and largest group to prepare consolidated accounts.
Transaction:
The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A.
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