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REGISTERED NUMBER: 07583891 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

J P OPTICAL LIMITED

J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J P OPTICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr J Plaskow





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 07583891 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 49,532 65,542
49,532 65,542

CURRENT ASSETS
Inventories 28,369 23,115
Debtors 6 294,437 258,641
Cash at bank and in hand 2,856 3,556
325,662 285,312
CREDITORS
Amounts falling due within one year 7 218,036 186,182
NET CURRENT ASSETS 107,626 99,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,158

164,672

CREDITORS
Amounts falling due after more than one
year

8

(57,336

)

(77,832

)

PROVISIONS FOR LIABILITIES (11,493 ) (12,440 )
NET ASSETS 88,329 74,400

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 88,226 74,297
SHAREHOLDERS' FUNDS 88,329 74,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2024 and were signed by:





Mr J Plaskow - Director


J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

J P Optical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 20% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 385,000
AMORTISATION
At 1 April 2023
and 31 March 2024 385,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 175,324
Additions 1,500
At 31 March 2024 176,824
DEPRECIATION
At 1 April 2023 109,782
Charge for year 17,510
At 31 March 2024 127,292
NET BOOK VALUE
At 31 March 2024 49,532
At 31 March 2023 65,542

J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 33,811 35,003
Other debtors 260,626 223,638
294,437 258,641

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 14,940 14,940
Trade creditors 81,298 59,511
Taxation and social security 95,607 96,100
Other creditors 20,635 10,075
218,036 186,182

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 28,703 34,259
Hire purchase contracts 28,633 43,573
57,336 77,832

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,480 12,036

9. RELATED PARTY TRANSACTIONS

The following advances and credits to the director Mr J Plaskow a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr J Plaskow
Balance outstanding at start of year 168,976 81,724
Amounts advanced 234,208 227,546
Amounts repaid (200,562 ) (140,294 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 202,622 168,976

J P OPTICAL LIMITED (REGISTERED NUMBER: 07583891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Plaskow.

At the balance sheet date, the ultimate controlling party was Mr J. Plaskow by virtue of his ownership of 100% of the company's issued ordinary share capital.