IRIS Accounts Production v23.2.0.158 09057562 director 1.6.22 31.5.23 31.5.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090575622022-05-31090575622023-05-31090575622022-06-012023-05-31090575622021-05-31090575622021-06-012022-05-31090575622022-05-3109057562ns10:Originalns15:EnglandWales2022-06-012023-05-3109057562ns14:PoundSterlingns10:Original2022-06-012023-05-3109057562ns10:Originalns10:Director12022-06-012023-05-3109057562ns10:Original2022-06-012023-05-3109057562ns10:Original2023-05-3109057562ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3109057562ns10:Originalns10:SmallEntities2022-06-012023-05-3109057562ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3109057562ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3109057562ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3109057562ns10:Originalns10:FullAccounts2022-06-012023-05-3109057562ns10:Originalns10:RegisteredOffice2022-06-012023-05-3109057562ns10:Original2022-05-3109057562ns10:Originalns5:CurrentFinancialInstruments2023-05-3109057562ns10:Originalns5:CurrentFinancialInstruments2022-05-3109057562ns5:ShareCapitalns10:Original2023-05-3109057562ns5:ShareCapitalns10:Original2022-05-3109057562ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3109057562ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3109057562ns10:Originalns5:PlantMachinery2022-06-012023-05-3109057562ns10:Originalns5:ComputerEquipment2022-06-012023-05-3109057562ns10:Original2021-06-012022-05-3109057562ns10:Originalns5:PlantMachinery2022-05-3109057562ns10:Originalns5:ComputerEquipment2022-05-3109057562ns10:Original2022-05-3109057562ns10:Originalns5:PlantMachinery2023-05-3109057562ns10:Originalns5:ComputerEquipment2023-05-3109057562ns10:Originalns5:PlantMachinery2022-05-3109057562ns10:Originalns5:ComputerEquipment2022-05-3109057562ns10:Original1ns10:Director12022-05-3109057562ns10:Original1ns10:Director12021-05-3109057562ns10:Original1ns10:Director12022-06-012023-05-3109057562ns10:Original1ns10:Director12021-06-012022-05-3109057562ns10:Original1ns10:Director12023-05-3109057562ns10:Original1ns10:Director12022-05-31
REGISTERED NUMBER: 09057562 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Optics Direct Limited

Optics Direct Limited (Registered number: 09057562)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Optics Direct Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: U Jawaid





REGISTERED OFFICE: 27 Middlegate
Oldham
OL8 3AH





REGISTERED NUMBER: 09057562 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
2 Heap Bridge
Bury
BL9 7HR

Optics Direct Limited (Registered number: 09057562)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,196 1,082

CURRENT ASSETS
Debtors 6 - 463
Cash at bank 2,195 4,656
2,195 5,119
CREDITORS
Amounts falling due within one year 7 (3,852 ) (5,914 )
NET CURRENT LIABILITIES (1,657 ) (795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

539

287

PROVISIONS FOR LIABILITIES (417 ) (205 )
NET ASSETS 122 82

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 121 81
SHAREHOLDERS' FUNDS 122 82

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Optics Direct Limited (Registered number: 09057562)

Statement of Financial Position - continued
31 May 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





U Jawaid - Director


Optics Direct Limited (Registered number: 09057562)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Optics Direct 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared on the historical cost basis.

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

DEPRECIATION
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 33% on cost

INCOME TAX
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Optics Direct Limited (Registered number: 09057562)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2022 1,707 4,270 5,977
Additions - 2,247 2,247
At 31 May 2023 1,707 6,517 8,224
DEPRECIATION
At 1 June 2022 1,706 3,189 4,895
Charge for year - 1,133 1,133
At 31 May 2023 1,706 4,322 6,028
NET BOOK VALUE
At 31 May 2023 1 2,195 2,196
At 31 May 2022 1 1,081 1,082

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts - 463

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 2,669 5,010
Social security and other tax 91 134
Other creditors 18 72
Directors' current accounts 245 -
Accrued expenses 829 698
3,852 5,914

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
U Jawaid
Balance outstanding at start of year 463 4,105
Amounts advanced 17,238 18,958
Amounts repaid (17,946 ) (22,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (245 ) 463