| OTTICA LIMITED |
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| Notes to the financial statements - 31 December 2024 |
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COMPANY INFORMATION |
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| 1. |
Company Information |
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Ottica Limited is a private limited company incorporated and domiciled in the UK. The address of its registered office is 5.2 Central House, 1 Ballards Lane, N3 1LQ. |
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The company is a wholly owned subsidiary of Optimax Investments Ltd, a company registered in Israel, whose addressis: Habarzel 34, Tel Aviv, Israel, 69710. |
| 2. |
Statement of Compliance |
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The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006. |
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| 3. |
Accounting Policies |
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Basis of accounting |
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The financial statements have been prepared on a going concern basis, under historical cost convention. |
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The financial statements are presented in Pound Sterling (£). |
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Financial instruments |
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The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments: |
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(i) Financial assets |
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Basic financial assets including other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period. |
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(ii) Financial liabilities |
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Basic financial liabilities including other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method. |
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