2023-01-012023-12-312023-12-31false09688878WANSTEAD OPTICAL 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WANSTEAD OPTICAL LIMITED

Registered Number
09688878
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

WANSTEAD OPTICAL LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Greg Etkin

Registered Address

127 High Street Wanstead
London
E11 2RL

Registered Number

09688878 (England and Wales)
WANSTEAD OPTICAL LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets321,89637,821
Tangible assets4102,87550,834
124,77188,655
Current assets
Stocks24,75728,100
Debtors1,551,7231,112,685
Cash at bank and on hand801255,665
1,577,2811,396,450
Creditors amounts falling due within one year(111,712)(91,166)
Net current assets (liabilities)1,465,5691,305,284
Total assets less current liabilities1,590,3401,393,939
Net assets1,590,3401,393,939
Capital and reserves
Called up share capital100100
Profit and loss account1,590,2401,393,839
Shareholders' funds1,590,3401,393,939
The financial statements were approved and authorised for issue by the Director on 21 March 2024, and are signed on its behalf by:
Greg Etkin
Director
Registered Company No. 09688878
WANSTEAD OPTICAL LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Fixtures and fittings - 15% straight line Office Equipment - 15% straight line Motor Vehicles - 15% straight line
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year33
3.Intangible assets

Total

£
Cost or valuation
At 01 January 23159,248
At 31 December 23159,248
Amortisation and impairment
At 01 January 23121,427
Charge for year15,925
At 31 December 23137,352
Net book value
At 31 December 2321,896
At 31 December 2237,821
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2387,037
Additions72,694
At 31 December 23159,731
Depreciation and impairment
At 01 January 2336,203
Charge for year20,653
At 31 December 2356,855
Net book value
At 31 December 23102,875
At 31 December 2250,834