Company registration number: 03170078
COMPANY INFORMATION
CONTENTS
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
Page 1
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2025
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 7 form part of these financial statements.
Page 2
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Optichrome Group Limited is a private company limited by shares, incorporated in the United Kingdom under the
Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and
principal place of business is shown on the company information page.
Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and
principal place of business is shown on the company information page.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 GBP, which is the functional currency of the entity.
Also included in revenue is rental income which is recognised in the period to which it relates.
Page 3
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
On transition to FRS 102 on 1 May 2014, the valuation of the freehold properties as at that date was adopted
as the deemed cost.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their
residual value over their estimated useful lives, using the straight-line method.
as the deemed cost.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their
residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 4
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being
estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is
impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is
impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only 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.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Page 5
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
|
|
||
|
|
||
|
|
||
|
|
||
|
|
The 2024 valuations were made by an independent third party, on an open market value for existing use basis.
The Directors do not consider that the valuations have changed materially since 2024.
The historic costs of the investment properties is £855,466 (2024: £855,466).
The historic costs of the investment properties is £855,466 (2024: £855,466).
Page 6
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 7