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Registered number: 09570658
Optomedic Ltd
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09570658
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,452 13,243
10,452 13,243
CURRENT ASSETS
Stocks 5 1,745 2,361
Debtors 6 2,652 1,765
Cash at bank and in hand 1,821 804
6,218 4,930
Creditors: Amounts Falling Due Within One Year 7 (21,706 ) (25,208 )
NET CURRENT ASSETS (LIABILITIES) (15,488 ) (20,278 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,036 ) (7,035 )
Creditors: Amounts Falling Due After More Than One Year 8 (10,721 ) (12,250 )
NET LIABILITIES (15,757 ) (19,285 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (15,857 ) (19,385 )
SHAREHOLDERS' FUNDS (15,757) (19,285)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N N Yusuf
Director
19th August 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Optomedic Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09570658 . The registered office is 109 Coleman Road, Leicester, Leicestershire, LE5 4LE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & Machinery 20% on reducing balance
Fixtures & Fittings 20% on cost
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5. Taxation
Taxation for the year 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 statement of financial position date.
2.6. Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
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Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 33,714 4,934 38,648
As at 31 May 2024 33,714 4,934 38,648
Depreciation
As at 1 June 2023 21,547 3,858 25,405
Provided during the period 2,433 358 2,791
As at 31 May 2024 23,980 4,216 28,196
Net Book Value
As at 31 May 2024 9,734 718 10,452
As at 1 June 2023 12,167 1,076 13,243
5. Stocks
2024 2023
£ £
Stock 1,745 2,361
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,652 1,765
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,277 13,828
Bank loans and overdrafts 8,088 3,750
Other creditors 6,683 3,864
Taxation and social security 3,658 3,766
21,706 25,208
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,721 12,250
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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Page 5
10. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Miss Nabeelah Yusuf (1,979 ) 12,898 (15,463 ) - (4,544 )
The above loan is unsecured, interest free and repayable on demand.
11. Ultimate Controlling Party
The company was under the control of Miss N N Yusuf by virtue of her majority shareholding. She is also a director of the company.
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