Registered number
10775168
S OPTICAL LTD
Filleted Accounts
31 May 2024
S OPTICAL LTD
Registered number: 10775168
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,453 2,209
Current assets
Debtors 4 425 1,900
Cash at bank and in hand 24,646 12,583
25,071 14,483
Creditors: amounts falling due within one year 5 (13,877) (9,227)
Net current assets 11,194 5,256
Total assets less current liabilities 13,647 7,465
Creditors: amounts falling due after more than one year 6 (145) (601)
Net assets 13,502 6,864
Capital and reserves
Called up share capital 100 100
Profit and loss account 13,402 6,764
Shareholder's funds 13,502 6,864
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SAJAD HUSSAIN
Director
Approved by the board on 30 August 2024
S OPTICAL LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 3,379
Additions 647
At 31 May 2024 4,026
Depreciation
At 1 June 2023 1,170
Charge for the year 403
At 31 May 2024 1,573
Net book value
At 31 May 2024 2,453
At 31 May 2023 2,209
4 Debtors 2024 2023
£ £
Trade debtors 425 1,900
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 6,670 4,568
Other creditors 7,207 4,659
13,877 9,227
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 145 601
7 Controlling party
The company is ultimately controlled by the Director by virtue of him owning 100% of the issued share capital.
8 Other information
S OPTICAL LTD is a private company limited by shares and incorporated in England. Its registered office is:
44 HAWTHORNE AVENUE
BATLEY
WF17 7BZ
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