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Company Registration No. 06716972 (England and Wales)
Young Optical Ltd Unaudited accounts for the year ended 31 October 2023
Young Optical Ltd Unaudited accounts Contents
Page
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Young Optical Ltd Company Information for the year ended 31 October 2023
Director
Mr Charanjit Singh Uppal
Company Number
06716972 (England and Wales)
Registered Office
2 EXCHANGE STREET RETFORD NOTTINGHAMSHIRE DN22 6BL
Accountants
West Yorkshire Accountancy Services 4 Railway Street Huddersfield West Yorkshire HD1 1JP
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Young Optical Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
85,520 
85,520 
Tangible assets
61,541 
71,869 
147,061 
157,389 
Current assets
Inventories
30,000 
30,000 
Debtors
20,535 
- 
Cash at bank and in hand
20,689 
- 
71,224 
30,000 
Creditors: amounts falling due within one year
(12,129)
(9,288)
Net current assets
59,095 
20,712 
Total assets less current liabilities
206,156 
178,101 
Creditors: amounts falling due after more than one year
(87,074)
(107,709)
Net assets
119,082 
70,392 
Capital and reserves
Share premium
1 
1 
Profit and loss account
119,081 
70,391 
Shareholders' funds
119,082 
70,392 
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 23 October 2024 and were signed on its behalf by
Mr Charanjit Singh Uppal Director Company Registration No. 06716972
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Young Optical Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Young Optical Ltd is a private company, limited by shares, registered in England and Wales, registration number 06716972. The registered office is 2 EXCHANGE STREET, RETFORD, NOTTINGHAMSHIRE, DN22 6BL.
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.
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 basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Computer equipment
25% reducing balance basis
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2022
85,520 
At 31 October 2023
85,520 
Amortisation
At 1 November 2022
- 
At 31 October 2023
- 
Net book value
At 31 October 2023
85,520 
At 31 October 2022
85,520 
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Young Optical Ltd Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 November 2022
3,407 
84,694 
23,633 
120,655 
232,389 
Additions
- 
- 
- 
9,811 
9,811 
At 31 October 2023
3,407 
84,694 
23,633 
130,466 
242,200 
Depreciation
At 1 November 2022
3,337 
27,032 
20,808 
109,343 
160,520 
Charge for the year
18 
14,416 
424 
5,281 
20,139 
At 31 October 2023
3,355 
41,448 
21,232 
114,624 
180,659 
Net book value
At 31 October 2023
52 
43,246 
2,401 
15,842 
61,541 
At 31 October 2022
70 
57,662 
2,825 
11,312 
71,869 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,388 
- 
Other debtors
16,147 
- 
20,535 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
3,531 
VAT
- 
3,948 
Trade creditors
1,328 
1,809 
Taxes and social security
10,801 
- 
12,129 
9,288 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
87,074 
107,709 
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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