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REGISTERED NUMBER: SC760888 (Scotland)



















OPTICOPRO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

2 MARCH 2023 TO 31 MARCH 2024






OPTICOPRO LTD (REGISTERED NUMBER: SC760888)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 2 MARCH 2023 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OPTICOPRO LTD

COMPANY INFORMATION
FOR THE PERIOD 2 MARCH 2023 TO 31 MARCH 2024







DIRECTOR: Ms Yixin Zheng





REGISTERED OFFICE: 9 Royal Crescent
Glasgow
G3 7SP





REGISTERED NUMBER: SC760888 (Scotland)





ACCOUNTANTS: CW
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

OPTICOPRO LTD (REGISTERED NUMBER: SC760888)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Investment property 3 111,450

CURRENT ASSETS
Debtors 4 23,297
Cash at bank 7,159
30,456
CREDITORS
Amounts falling due within one year 5 3,605
NET CURRENT ASSETS 26,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,301

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings 138,300
138,301

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

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

The director acknowledges her 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.

OPTICOPRO LTD (REGISTERED NUMBER: SC760888)

BALANCE SHEET - 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 13 November 2024 and were signed by:





Ms Yixin Zheng - Director


OPTICOPRO LTD (REGISTERED NUMBER: SC760888)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 2 MARCH 2023 TO 31 MARCH 2024


1. 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 and revenue recognition
The turnover shown in the profit and loss account represents the rental income receivable for the period. Income is recognised on the basis of rent due for the period.

Investment property
Investment properties are shown at their fair value. The surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market is not considered to be permanent.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the period 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.


OPTICOPRO LTD (REGISTERED NUMBER: SC760888)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 2 MARCH 2023 TO 31 MARCH 2024


1. ACCOUNTING POLICIES - continued
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 period 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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 111,450
At 31 March 2024 111,450
NET BOOK VALUE
At 31 March 2024 111,450

The investment property was valued at cost by the director on 31 March 2024, which is deemed
appropriate to its current market value.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 20,000
Director's current account 1,047
Prepayments and accrued income 2,250
23,297

The loan to director and other debtor are interest free and repayable at demand.

OPTICOPRO LTD (REGISTERED NUMBER: SC760888)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 2 MARCH 2023 TO 31 MARCH 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Corporation Tax 1,073
Social security and other taxes 391
VAT 861
Accrued expenses 1,280
3,605

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

£   
Ms Yixin Zheng
Balance outstanding at start of period -
Amounts advanced 293,556
Amounts repaid (292,509 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period 1,047

7. RELATED PARTY DISCLOSURES

The balance due from the director amounted to £1,047 at the period end.