Company Registration No. 06778967 (England and Wales)
Y&S Optical Group Limited
Unaudited financial statements
for the year ended 31 December 2024
Pages for filing with the registrar
Y&S Optical Group Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Y&S Optical Group Limited
Statement of financial position
As at 31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,000
3,000
Tangible assets
5
47,466
77,475
49,466
80,475
Current assets
Stocks
78,344
76,214
Debtors
6
217,183
102,511
Cash at bank and in hand
81,624
326,181
377,151
504,906
Creditors: amounts falling due within one year
7
(286,868)
(343,336)
Net current assets
90,283
161,570
Total assets less current liabilities
139,749
242,045
Provisions for liabilities
-
0
(2,923)
Net assets
139,749
239,122
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
139,649
239,022
Total equity
139,749
239,122

The directors of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Y&S Optical Group Limited
Statement of financial position (continued)
As at 31 December 2024
2
The financial statements were approved by the board of directors and authorised for issue on 1 September 2025 and are signed on its behalf by:
Keith Wright
Director
Company Registration No. 06778967
Y&S Optical Group Limited
Notes to the financial statements
For the year ended 31 December 2024
3
1
Accounting policies
Company information

Y&S Optical Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 317 India Mill Business Centre, Darwen, BB3 1AE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue is recognised when goods and services are provided to customers.

Other income represents the amounts received in relation to government grants.

1.3
Intangible fixed assets - goodwill

Goodwill is amortised evenly over its useful economic life.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land, buildings and property improvements
10%-15% straight line
Land and buildings leasehold
10%-15% straight line
Plant and machinery
20% reducing balance / 25% straight line
Fixtures, fittings & equipment
15% reducing balance
Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Y&S Optical Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
4
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Y&S Optical Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
5
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Y&S Optical Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
6
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (excluding non-remunerated directors) employed by the company during the period was:

2024
2023
Number
Number
Total
32
29
Y&S Optical Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
7
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024
234,857
Disposals
(229,857)
At 31 December 2024
5,000
Amortisation and impairment
At 1 January 2024
231,857
Amortisation charged for the year
1,000
Disposals
(229,857)
At 31 December 2024
3,000
Carrying amount
At 31 December 2024
2,000
At 31 December 2023
3,000
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
348,432
852,528
1,200,960
Additions
-
0
1,497
1,497
At 31 December 2024
348,432
854,025
1,202,457
Depreciation and impairment
At 1 January 2024
330,915
792,570
1,123,485
Depreciation charged in the year
17,456
14,050
31,506
At 31 December 2024
348,371
806,620
1,154,991
Carrying amount
At 31 December 2024
61
47,405
47,466
At 31 December 2023
17,517
59,958
77,475
Y&S Optical Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
8
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
63,806
76,451
Corporation tax recoverable
132,255
-
0
Other debtors
20,832
26,060
216,893
102,511
Deferred tax asset
290
-
0
217,183
102,511
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
63,105
59,910
Corporation tax
-
0
38,004
Other taxation and social security
20,597
21,638
Other creditors
195,186
207,379
Accruals and deferred income
7,980
16,405
286,868
343,336
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
121,392
222,212
Y&S Optical Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
9
9
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Other related parties
191,792
191,792

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
199
199
Other information

During the prior period, the trade of a related company, Yates & Suddell (Walkden) Limited, was transferred to Y&S Optical Group Limited.

10
Parent company

The immediate and ultimate parent company is HO2 Management Limited. Its registered office address is Unit 317 India Mill Business Centre, Darwen, BB3 1AE.

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