Company Registration No. 04467920 (England and Wales)
OLIVERS OPTICIANS LIMITED
Unaudited accounts
for the year ended 30 June 2023
OLIVERS OPTICIANS LIMITED
Unaudited accounts
Contents
OLIVERS OPTICIANS LIMITED
Company Information
for the year ended 30 June 2023
Directors
Erica Gill
Oliver Sansum
Company Number
04467920 (England and Wales)
Registered Office
Chalfont St Peter
Buckinghamshire
SL9 9QL
United Kingdom
Accountants
Lane Accounting Limited
Denmark House
143 High Street
Chalfont St Peter
Buckinghamshire
SL9 9QL
OLIVERS OPTICIANS LIMITED
Statement of financial position
as at 30 June 2023
Tangible assets
1,874
2,485
Cash at bank and in hand
20,095
13,660
Creditors: amounts falling due within one year
(54,875)
(50,692)
Net current assets
30,015
30,652
Called up share capital
102
102
Share premium
30,000
30,000
Profit and loss account
1,787
3,035
Shareholders' funds
31,889
33,137
For the year ending 30 June 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 9 February 2024 and were signed on its behalf by
Oliver Sansum
Director
Company Registration No. 04467920
OLIVERS OPTICIANS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
OLIVERS OPTICIANS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04467920. The registered office is Chalfont St Peter, Buckinghamshire, SL9 9QL, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
OLIVERS OPTICIANS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2022
15,799
62,961
78,760
At 30 June 2023
15,799
62,961
78,760
At 1 July 2022
15,291
60,984
76,275
Charge for the year
117
494
611
At 30 June 2023
15,408
61,478
76,886
At 30 June 2023
391
1,483
1,874
At 30 June 2022
508
1,977
2,485
Amounts falling due within one year
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
22,100
26,524
Taxes and social security
6,924
1,487
Other creditors
4,703
7,033
Loans from directors
19,359
13,859
Allotted, called up and fully paid:
102 Ordinary shares of £1 each
102
102
At 30 June 2023 the directors are owed £19,359 (2022 - £13,859). During the year the directors charged £461 interest on this loan to the company. The has been included in above balance and is repayable on demand.
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Average number of employees
During the year the average number of employees was 8 (2022: 8).