Company Registration No. 11111137 (England and Wales)
Advance Optics Limited
Unaudited accounts
for the year ended 31 December 2022
Advance Optics Limited
Unaudited accounts
Contents
Advance Optics Limited
Company Information
for the year ended 31 December 2022
Directors
Benjamin Gerard Cundy
Hugo Cundy
Company Number
11111137 (England and Wales)
Registered Office
COURTYARD MEWS PICCADILLY PLACE
LONDON ROAD
BATH
BA1 6PL
UNITED KINGDOM
Advance Optics Limited
Statement of financial position
as at 31 December 2022
Tangible assets
5,372
13,935
Cash at bank and in hand
318,654
231,268
Creditors: amounts falling due within one year
(289,046)
(255,673)
Net current assets
151,233
162,216
Total assets less current liabilities
156,605
176,151
Provisions for liabilities
Deferred tax
(1,021)
(2,648)
Net assets
155,584
173,503
Called up share capital
100
100
Profit and loss account
155,484
173,403
Shareholders' funds
155,584
173,503
For the year ending 31 December 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 28 April 2023 and were signed on its behalf by
Hugo Cundy
Director
Company Registration No. 11111137
Advance Optics Limited
Notes to the Accounts
for the year ended 31 December 2022
Advance Optics Limited is a private company, limited by shares, registered in England and Wales, registration number 11111137. The registered office is COURTYARD MEWS PICCADILLY PLACE, LONDON ROAD, BATH, BA1 6PL, UNITED KINGDOM.
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.
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:
Motor vehicles
25% of cost
Fixtures & fittings
25% of cost
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Advance Optics Limited
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2022
18,000
6,142
24,142
Disposals
(18,000)
-
(18,000)
At 31 December 2022
-
10,271
10,271
At 1 January 2022
7,875
2,332
10,207
Charge for the year
-
2,567
2,567
On disposals
(7,875)
-
(7,875)
At 31 December 2022
-
4,899
4,899
At 31 December 2022
-
5,372
5,372
At 31 December 2021
10,125
3,810
13,935
Amounts falling due within one year
Trade debtors
97,292
180,821
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
44,183
143,672
Taxes and social security
24,908
14,617
Other creditors
217,625
72,646
Loans from directors
2,330
1,880
7
Average number of employees
During the year the average number of employees was 0 (2021: 0).