Registered number
11097098
Live Opticians Ltd
Report and Accounts
31 December 2023
Live Opticians Ltd
Registered number: 11097098
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 313 417
Current assets
Stocks 1,500 1,000
Debtors 4 917 372
Cash at bank and in hand 2,727 7,483
5,144 8,855
Creditors: amounts falling due within one year 5 (18,292) (14,745)
Net current liabilities (13,148) (5,890)
Net liabilities (12,835) (5,473)
Capital and reserves
Called up share capital 1 1
Profit and loss account (12,836) (5,474)
Shareholder's funds (12,835) (5,473)
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 her 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.
K Rattu
Director
Approved by the board on 16 October 2024
Live Opticians Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
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:
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 1,759
At 31 December 2023 1,759
Depreciation
At 1 January 2023 1,342
Charge for the year 104
At 31 December 2023 1,446
Net book value
At 31 December 2023 313
At 31 December 2022 417
4 Debtors 2023 2022
£ £
Trade debtors 917 372
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,555 549
Other creditors 16,737 14,196
18,292 14,745
6 Other information
Live Opticians Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Cobden Road
Sevenoaks
TN13 3UB
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