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Registration number: 06457287

H G Optics Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

H G Optics Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

H G Optics Limited

(Registration number: 06457287)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

20,939

37,718

Current assets

 

Stocks

5

27,960

27,651

Debtors

6

23,365

23,525

Cash at bank and in hand

 

269,719

229,917

 

321,044

281,093

Creditors: Amounts falling due within one year

7

(90,347)

(97,036)

Net current assets

 

230,697

184,057

Total assets less current liabilities

 

251,636

221,775

Creditors: Amounts falling due after more than one year

7

(10,900)

(25,687)

Provisions for liabilities

(5,235)

(18,830)

Net assets

 

235,501

177,258

Capital and reserves

 

Called up share capital

100

100

Retained earnings

235,401

177,158

Shareholders' funds

 

235,501

177,258

 

H G Optics Limited

(Registration number: 06457287)
Balance Sheet as at 28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 June 2025
 

.........................................
Ms H Geeson
Director

   
     
 

H G Optics Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Boots Alton
30 High Street
Alton
Hants
GU34 1BN

These financial statements were authorised for issue by the director on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

H G Optics Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

H G Optics Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 4).

 

H G Optics Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2024

5,076

190,645

195,721

Additions

-

267

267

At 28 February 2025

5,076

190,912

195,988

Depreciation

At 1 March 2024

4,958

153,045

158,003

Charge for the year

87

16,959

17,046

At 28 February 2025

5,045

170,004

175,049

Carrying amount

At 28 February 2025

31

20,908

20,939

At 29 February 2024

118

37,600

37,718

5

Stocks

2025
£

2024
£

Finished goods and goods for resale

27,960

27,651

6

Debtors

Current

2025
£

2024
£

Trade debtors

12,633

10,895

Prepayments

10,732

12,630

 

23,365

23,525

 

H G Optics Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

15,090

13,174

Trade creditors

 

28,358

41,143

Taxation and social security

 

30,297

21,385

Accruals and deferred income

 

14,584

19,483

Other creditors

 

2,018

1,851

 

90,347

97,036

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,662 (2024 - £5, 872).

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10,900

25,687

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £9,578 (2024 - £17,240).