Company Registration No. 06918203 (England and Wales)
A.M.S Ophthalmic Opticians Limited
Unaudited accounts
for the year ended 31 October 2023
A.M.S Ophthalmic Opticians Limited
Unaudited accounts
Contents
A.M.S Ophthalmic Opticians Limited
Company Information
for the year ended 31 October 2023
Company Number
06918203 (England and Wales)
Registered Office
MILTON & COMPANY
2 PAUL GARDENS
CROYDON
CR0 5QL
Accountants
Milton & Co
International Accountants
2 Paul Gardens
Croydon
Surrey
CR0 5QL
A.M.S Ophthalmic Opticians Limited
Statement of financial position
as at 31 October 2023
Tangible assets
578,734
580,433
Cash at bank and in hand
159,005
157,204
Creditors: amounts falling due within one year
(100,555)
(116,674)
Net current assets
66,930
51,340
Net assets
645,664
631,773
Called up share capital
4
4
Profit and loss account
645,660
631,769
Shareholders' funds
645,664
631,773
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 December 2023 and were signed on its behalf by
A M Savvides
Director
Company Registration No. 06918203
A.M.S Ophthalmic Opticians Limited
Notes to the Accounts
for the year ended 31 October 2023
A.M.S Ophthalmic Opticians Limited is a private company, limited by shares, registered in England and Wales, registration number 06918203. The registered office is MILTON & COMPANY, 2 PAUL GARDENS, CROYDON, CR0 5QL. The principal place of business is 15 Purley Road, Croydon, Surrey, CR2 6EZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance basis
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The principal activity of the Company is that of Ophthalmic Opticians.
The Director recommends the payment of a Dividend of £40,000 (2022 - £20,000)
A.M.S Ophthalmic Opticians Limited
Notes to the Accounts
for the year ended 31 October 2023
The accounts have been drawn up on the going concern basis following the Director’s assessment of the company’s ability to trade for at least 12 months from the date these accounts have been approved. In conclusion, whilst there is some uncertainty, the Director does not believe there is a material uncertainty which casts significant doubt on the company’s ability to continue to trade.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2022
573,637
61,024
634,661
At 31 October 2023
573,637
61,024
634,661
At 1 November 2022
-
54,228
54,228
Charge for the year
-
1,699
1,699
At 31 October 2023
-
55,927
55,927
At 31 October 2023
573,637
5,097
578,734
At 31 October 2022
573,637
6,796
580,433
5
Creditors: amounts falling due within one year
2023
2022
Trade creditors
31,110
27,961
Taxes and social security
22,205
18,815
Proposed dividends
40,000
-
Loans from directors
-
62,658
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).
