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Company Registration No. 13988786 (England and Wales)
MyVision Opticians Ltd Filleted accounts for the year ended 31 March 2023
MyVision Opticians Ltd Filleted accounts Contents
Page
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MyVision Opticians Ltd Company Information for the year ended 31 March 2023
Directors
Mohammed Rafat Haque Muhammad Sifat Haque Hasan Ilyas Patel
Company Number
13988786 (England and Wales)
Registered Office
336 Allerton Road Allerton Bradford BD15 7BN
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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MyVision Opticians Ltd Statement of financial position as at 31 March 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
36,642 
Current assets
Inventories
4,000 
Debtors
14,613 
Cash at bank and in hand
2,782 
21,395 
Creditors: amounts falling due within one year
(13,040)
Net current assets
8,355 
Total assets less current liabilities
44,997 
Creditors: amounts falling due after more than one year
(84,647)
Net liabilities
(39,650)
Capital and reserves
Called up share capital
3 
Profit and loss account
(39,653)
Shareholders' funds
(39,650)
For the year ending 31 March 2023 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 the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2023 and were signed on its behalf by
Muhammad Sifat Haque Director Company Registration No. 13988786
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MyVision Opticians Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
MyVision Opticians Ltd is a private company, limited by shares, registered in England and Wales, registration number 13988786. The registered office is 336 Allerton Road, Allerton, Bradford, BD15 7BN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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MyVision Opticians Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
- 
- 
- 
Additions
43,684 
2,542 
46,226 
At 31 March 2023
43,684 
2,542 
46,226 
Depreciation
Charge for the year
8,737 
847 
9,584 
At 31 March 2023
8,737 
847 
9,584 
Net book value
At 31 March 2023
34,947 
1,695 
36,642 
5
Inventories
2023 
£ 
Finished goods
4,000 
4,000 
6
Debtors
2023 
£ 
Amounts falling due within one year
VAT
10,041 
Trade debtors
4,572 
14,613 
7
Creditors: amounts falling due within one year
2023 
£ 
Other creditors
1,535 
Loans from directors
10,648 
Accruals
857 
13,040 
8
Creditors: amounts falling due after more than one year
2023 
£ 
Amounts owed to group undertakings and other participating interests
57,348 
Taxes and social security
27,299 
84,647 
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MyVision Opticians Ltd Notes to the Accounts for the year ended 31 March 2023
9
Share capital
2023 
£ 
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3 
Shares issued during the period:
3 Ordinary shares of £1 each
3 
10
Average number of employees
During the year the average number of employees was 3.
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