Registered number
12979934
JDC Optical Limited
Filleted Accounts
31 October 2024
JDC Optical Limited
Registered number: 12979934
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 50,375 67,167
Current assets
Debtors 4 42,685 33,776
Cash at bank and in hand 2,312 7,468
44,997 41,244
Creditors: amounts falling due within one year 5 (24,730) (19,328)
Net current assets 20,267 21,916
Total assets less current liabilities 70,642 89,083
Creditors: amounts falling due after more than one year 6 (59,277) (74,659)
Provisions for liabilities (9,571) (12,762)
Net assets 1,794 1,662
Capital and reserves
Called up share capital 120 120
Profit and loss account 1,674 1,542
Shareholder's funds 1,794 1,662
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 his 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.
J Date-Chong
Director
Approved by the board on 30 January 2025
JDC Optical Limited
Notes to the Accounts
for the year ended 31 October 2024
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 825 102,480 103,305
At 31 October 2024 825 102,480 103,305
Depreciation
At 1 November 2023 206 35,932 36,138
Charge for the year 155 16,637 16,792
At 31 October 2024 361 52,569 52,930
Net book value
At 31 October 2024 464 49,911 50,375
At 31 October 2023 619 66,548 67,167
4 Debtors 2024 2023
£ £
Other debtors 42,685 33,776
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,800 3,800
Obligations under finance lease and hire purchase contracts 11,581 11,581
Taxation and social security costs 8,122 2,858
Other creditors 1,227 1,089
24,730 19,328
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,483 7,283
Obligations under finance lease and hire purchase contracts 55,794 67,376
59,277 74,659
7 Controlling party
The company is controlled by the director.
8 Other information
JDC Optical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11
Hunthay Business Park
Axminster
Devon
EX13 5RJ
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