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REGISTERED NUMBER: 10015972 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

OPTCEUTICS LIMITED

OPTCEUTICS LIMITED (REGISTERED NUMBER: 10015972)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OPTCEUTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Dr C R Redhead
Mr P H Boulangeat
Mr B S Butler





REGISTERED OFFICE: 28a Menelik Road
Barnet
London
NW2 3RP





REGISTERED NUMBER: 10015972 (England and Wales)






OPTCEUTICS LIMITED (REGISTERED NUMBER: 10015972)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,377 2,216

CURRENT ASSETS
Debtors 6 3,101 4,857
Cash at bank and in hand 292 21,590
3,393 26,447
CREDITORS
Amounts falling due within one year 7 83,390 21,279
NET CURRENT (LIABILITIES)/ASSETS (79,997 ) 5,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

(76,620

)

7,384

CREDITORS
Amounts falling due after more than one
year

8

4,254

5,078
NET (LIABILITIES)/ASSETS (80,874 ) 2,306

CAPITAL AND RESERVES
Called up share capital 9 9 9
Share premium 322,444 322,444
Retained earnings (403,327 ) (320,147 )
SHAREHOLDERS' FUNDS (80,874 ) 2,306

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 18th October 2024 and were signed on its behalf by:





Dr C R Redhead - Director


OPTCEUTICS LIMITED (REGISTERED NUMBER: 10015972)

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


1. STATUTORY INFORMATION

Optceutics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The shareholders have made loans to the company that are repayable under the terms of Unsecured Loan Notes.

Due to this ongoing support, the directors believe that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery - 25% on cost
Computer Equipment - 33% on cost

All fixed assets are initially recorded at cost.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

OPTCEUTICS LIMITED (REGISTERED NUMBER: 10015972)

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


3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st April 2023 41,612 1,083 42,695
Additions 1,655 2,144 3,799
At 31st March 2024 43,267 3,227 46,494
DEPRECIATION
At 1st April 2023 39,397 1,082 40,479
Charge for year 2,034 604 2,638
At 31st March 2024 41,431 1,686 43,117
NET BOOK VALUE
At 31st March 2024 1,836 1,541 3,377
At 31st March 2023 2,215 1 2,216

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,101 4,857

OPTCEUTICS LIMITED (REGISTERED NUMBER: 10015972)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 823 823
Trade creditors 24,066 12,240
Taxation and social security 310 -
Other creditors 58,191 8,216
83,390 21,279

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,254 5,078

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 961 1,785

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,000 Ordinary £0.001 0.1p 8 8
1,154 Ordinary USD $0.00 13 1 1
9 9

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Dr C R Redhead
Balance outstanding at start of year 210 -
Amounts advanced - 210
Amounts repaid (210 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 210

This loan was unsecured and interest free and was repaid on 23rd November 2023.