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Company Registration No. 08728836 (England and Wales)
Sky Opticians Limited Filleted accounts for the year ended 31 October 2023
Sky Opticians Limited Filleted accounts Contents
Page
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Sky Opticians Limited Company Information for the year ended 31 October 2023
Director
Mohammad Suleymaan Arshad
Company Number
08728836 (England and Wales)
Registered Office
392 Humberstone Road Leicester LE5 0SA
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Sky Opticians Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
625 
1,250 
Current assets
Inventories
1,753 
1,853 
Debtors
5,052 
4,822 
Cash at bank and in hand
42,780 
44,728 
49,585 
51,403 
Creditors: amounts falling due within one year
(1,023)
(4,558)
Net current assets
48,562 
46,845 
Net assets
49,187 
48,095 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
49,087 
47,995 
Shareholders' funds
49,187 
48,095 
For the year ending 31 October 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 director acknowledges his 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 and authorised for issue on 31 July 2024 and were signed on its behalf by
Mohammad Suleymaan Arshad Director Company Registration No. 08728836
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Sky Opticians Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Sky Opticians Limited is a private company, limited by shares, registered in England and Wales, registration number 08728836. The registered office is 392 Humberstone Road, Leicester, LE5 0SA.
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 remained unchanged from the previous year, and also 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
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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Sky Opticians Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2022
27,416 
At 31 October 2023
27,416 
Depreciation
At 1 November 2022
26,166 
Charge for the year
625 
At 31 October 2023
26,791 
Net book value
At 31 October 2023
625 
At 31 October 2022
1,250 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,552 
4,322 
Accrued income and prepayments
500 
500 
5,052 
4,822 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
349 
3,905 
Accruals
674 
653 
1,023 
4,558 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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