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OPTICA FIRE & SECURITY LIMITED

Registered Number
04461407
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

OPTICA FIRE & SECURITY LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

SHEARON, Michael Thomas
SYRON, David Patrick

Company Secretary

SYRON, David Patrick

Registered Address

30 Bradford Road
Stanningley
Pudsey
LS28 6DD

Registered Number

04461407 (England and Wales)
OPTICA FIRE & SECURITY LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4116,459106,346
116,459106,346
Current assets
Stocks10,20028,054
Debtors5267,028219,674
Cash at bank and on hand198,265180,778
475,493428,506
Creditors amounts falling due within one year6(262,381)(181,222)
Net current assets (liabilities)213,112247,284
Total assets less current liabilities329,571353,630
Provisions for liabilities7(29,720)(20,759)
Net assets299,851332,871
Capital and reserves
Called up share capital100100
Profit and loss account299,751332,771
Shareholders' funds299,851332,871
The financial statements were approved and authorised for issue by the Board of Directors on 12 February 2025, and are signed on its behalf by:
SHEARON, Michael Thomas
Director
SYRON, David Patrick
Director

Registered Company No. 04461407
OPTICA FIRE & SECURITY LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised in full at the start of a contract.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Trade and other 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.
Trade and other 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.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year1212
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 July 236,7506,750
At 30 June 246,7506,750
Amortisation and impairment
At 01 July 236,7506,750
At 30 June 246,7506,750
Net book value
At 30 June 24--
At 30 June 23--
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 July 23147,22321,749168,972
Additions39,2001,42840,628
Disposals(10,310)-(10,310)
At 30 June 24176,11323,177199,290
Depreciation and impairment
At 01 July 2350,37012,25662,626
Charge for year26,3252,54628,871
On disposals(8,666)-(8,666)
At 30 June 2468,02914,80282,831
Net book value
At 30 June 24108,0848,375116,459
At 30 June 2396,8539,493106,346
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables264,845217,141
Other debtors-430
Prepayments and accrued income2,1832,103
Total267,028219,674
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables88,07542,597
Taxation and social security106,50393,127
Other creditors9,09712,963
Accrued liabilities and deferred income58,70632,535
Total262,381181,222
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)29,00019,799
Other provisions720960
Total29,72020,759