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Company Registration No. 10894259 (England and Wales)
Suburban Optical Limited Unaudited accounts for the year ended 31 August 2023
Suburban Optical Limited Unaudited accounts Contents
Page
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Suburban Optical Limited Company Information for the year ended 31 August 2023
Director
Keith Human
Company Number
10894259 (England and Wales)
Registered Office
29 BLACKWOOD CLOSE WEST BYFLEET KT14 6PP ENGLAND
Accountants
Golding & Co Accounting Services Limited 29 Blackwood Close West Byfleet Surrey KT14 6PP
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Suburban Optical Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,974 
10,646 
Current assets
Inventories
9,406 
8,252 
Debtors
47,049 
41,825 
Cash at bank and in hand
1,110 
9,732 
57,565 
59,809 
Creditors: amounts falling due within one year
(50,346)
(41,141)
Net current assets
7,219 
18,668 
Total assets less current liabilities
13,193 
29,314 
Creditors: amounts falling due after more than one year
(17,690)
(27,227)
Net (liabilities)/assets
(4,497)
2,087 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(4,498)
2,086 
Shareholders' funds
(4,497)
2,087 
For the year ending 31 August 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 August 2024 and were signed on its behalf by
Keith Human Director Company Registration No. 10894259
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Suburban Optical Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Suburban Optical Limited is a private company, limited by shares, registered in England and Wales, registration number 10894259. The registered office is 29 BLACKWOOD CLOSE, WEST BYFLEET, KT14 6PP, ENGLAND.
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.
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
20% Straight Line
Fixtures & fittings
10% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
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.
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Suburban Optical Limited Notes to the Accounts for the year ended 31 August 2023
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2022
3 
At 31 August 2023
3 
Amortisation
At 1 September 2022
3 
At 31 August 2023
3 
Net book value
At 31 August 2023
- 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
21,136 
6,450 
27,586 
Additions
250 
- 
250 
At 31 August 2023
21,386 
6,450 
27,836 
Depreciation
At 1 September 2022
14,844 
2,096 
16,940 
Charge for the year
4,277 
645 
4,922 
At 31 August 2023
19,121 
2,741 
21,862 
Net book value
At 31 August 2023
2,265 
3,709 
5,974 
At 31 August 2022
6,292 
4,354 
10,646 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,935 
3,663 
Trade debtors
5,418 
4,892 
Deferred tax asset
1,039 
632 
Other debtors
37,657 
32,638 
47,049 
41,825 
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Suburban Optical Limited Notes to the Accounts for the year ended 31 August 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
13,810 
8,859 
Trade creditors
22,004 
21,102 
Taxes and social security
14,532 
11,180 
50,346 
41,141 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,690 
27,227 
Bounceback loan received 19 July 2020 in the amount of £50,000. First year charges and interest was borne by the UK government, thereafter interest bearing at 2.5% and repayable over a 5 year term. The loan is unsecured.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Keith Human
Advances to Director
26,302 
- 
- 
26,302 
26,302 
- 
- 
26,302 
Bearing interest at 3% with no fixed terms of repayment
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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