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REGISTERED NUMBER: 04419056 (England and Wales)















Financial Statements for the Year Ended 31 July 2018

for

Jarrod Headley Opticians Limited

Jarrod Headley Opticians Limited (Registered number: 04419056)






Contents of the Financial Statements
for the Year Ended 31 July 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jarrod Headley Opticians Limited

Company Information
for the Year Ended 31 July 2018







DIRECTOR: J Headley





REGISTERED OFFICE: 21 Chapeltown
Pudsey
LS28 7RZ





REGISTERED NUMBER: 04419056 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
2nd Floor, Woodside House
261 Low Lane
Horsforth
Leeds
West Yorkshire
LS18 5NY

Jarrod Headley Opticians Limited (Registered number: 04419056)

Balance Sheet
31 July 2018

31.7.18 31.7.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,609 23,604
18,609 23,604

CURRENT ASSETS
Stocks 11,409 9,870
Debtors 6 17,952 17,016
Cash at bank and in hand 349 307
29,710 27,193
CREDITORS
Amounts falling due within one year 7 42,018 41,441
NET CURRENT LIABILITIES (12,308 ) (14,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,301

9,356

CREDITORS
Amounts falling due after more than one
year

8

(3,643

)

(6,132

)

PROVISIONS FOR LIABILITIES (2,187 ) (2,420 )
NET ASSETS 471 804

Jarrod Headley Opticians Limited (Registered number: 04419056)

Balance Sheet - continued
31 July 2018

31.7.18 31.7.17
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 469 802
SHAREHOLDERS' FUNDS 471 804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 9 November 2018 and were signed by:





J Headley - Director


Jarrod Headley Opticians Limited (Registered number: 04419056)

Notes to the Financial Statements
for the Year Ended 31 July 2018

1. STATUTORY INFORMATION

Jarrod Headley Opticians Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods
and services provided in the normal course of business. Revenue is recognised when the goods are
delivered and hence is the point at which the risks and rewards of ownership pass to the buyer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost, 20% on cost and 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on cost and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are
initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 balance sheet date.


Jarrod Headley Opticians Limited (Registered number: 04419056)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is
the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period
of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2017
and 31 July 2018 2,850
AMORTISATION
At 1 August 2017
and 31 July 2018 2,850
NET BOOK VALUE
At 31 July 2018 -
At 31 July 2017 -

Jarrod Headley Opticians Limited (Registered number: 04419056)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2017 33,229 20,879 24,237 78,345
Additions - 340 175 515
At 31 July 2018 33,229 21,219 24,412 78,860
DEPRECIATION
At 1 August 2017 28,357 12,813 13,571 54,741
Charge for year 487 1,261 3,762 5,510
At 31 July 2018 28,844 14,074 17,333 60,251
NET BOOK VALUE
At 31 July 2018 4,385 7,145 7,079 18,609
At 31 July 2017 4,872 8,066 10,666 23,604

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2017
and 31 July 2018 12,815 17,850 30,665
DEPRECIATION
At 1 August 2017 12,815 8,085 20,900
Charge for year - 3,606 3,606
At 31 July 2018 12,815 11,691 24,506
NET BOOK VALUE
At 31 July 2018 - 6,159 6,159
At 31 July 2017 - 9,765 9,765

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
£    £   
Trade debtors 4,282 6,860
Other debtors 13,670 10,156
17,952 17,016

Jarrod Headley Opticians Limited (Registered number: 04419056)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
£    £   
Bank loans and overdrafts 5,384 5,842
Finance leases (see note 9) 2,488 4,232
Trade creditors 25,997 22,152
Taxation and social security 5,615 4,846
Other creditors 2,534 4,369
42,018 41,441

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.18 31.7.17
£    £   
Finance leases (see note 9) 3,643 6,132

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.7.18 31.7.17
£    £   
Net obligations repayable:
Within one year 2,488 4,232
Between one and five years 3,643 6,132
6,131 10,364

Non-cancellable
operating leases
31.7.18 31.7.17
£    £   
Within one year 10,417 10,278
Between one and five years 41,668 41,112
In more than five years 20,834 30,834
72,919 82,224

10. SECURED DEBTS

National Westminster Bank PLC hold a fixed and floating debenture over all the assets and also over
the business property part owned by the director.

Jarrod Headley Opticians Limited (Registered number: 04419056)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2018 and
31 July 2017:

31.7.18 31.7.17
£    £   
J Headley
Balance outstanding at start of year 9,539 15,822
Amounts advanced 87,211 31,482
Amounts repaid (83,080 ) (37,765 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,670 9,539

Interest is charged on overdrawn loan accounts at the official rate.

12. RELATED PARTY DISCLOSURES

Throughout the year the company was under the control of Mr J Headley, who is the sole director and
shareholder.