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REGISTERED NUMBER: 07634438 (England and Wales)















Financial Statements for the Year Ended 31 May 2022

for

Hayes Optical Ltd

Hayes Optical Ltd (Registered number: 07634438)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hayes Optical Ltd

Company Information
for the Year Ended 31 May 2022







DIRECTORS: Mr Ahsan Hanif Ansari
Mr Richard Giffard





SECRETARY: Mr Richard Giffard





REGISTERED OFFICE: 143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU





REGISTERED NUMBER: 07634438 (England and Wales)





ACCOUNTANTS: Accountancy Solutions
143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU

Hayes Optical Ltd (Registered number: 07634438)

Statement of Financial Position
31 May 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 660,000 660,000
Property, plant and equipment 5 3,080 2,304
663,080 662,304

CURRENT ASSETS
Inventories 6 29,500 33,580
Debtors 7 398 1,310
Cash at bank and in hand 83,149 68,154
113,047 103,044
CREDITORS
Amounts falling due within one year 8 640,203 635,454
NET CURRENT LIABILITIES (527,156 ) (532,410 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,924

129,894

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 135,824 129,794
SHAREHOLDERS' FUNDS 135,924 129,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Hayes Optical Ltd (Registered number: 07634438)

Statement of Financial Position - continued
31 May 2022


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2022 and were signed on its behalf by:





Mr Richard Giffard - Director


Hayes Optical Ltd (Registered number: 07634438)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

Hayes Optical Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2021
and 31 May 2022 660,000
NET BOOK VALUE
At 31 May 2022 660,000
At 31 May 2021 660,000

Hayes Optical Ltd (Registered number: 07634438)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2021 8,547 381 229 9,157
Additions - 882 500 1,382
At 31 May 2022 8,547 1,263 729 10,539
DEPRECIATION
At 1 June 2021 6,633 186 34 6,853
Charge for year 382 127 97 606
At 31 May 2022 7,015 313 131 7,459
NET BOOK VALUE
At 31 May 2022 1,532 950 598 3,080
At 31 May 2021 1,914 195 195 2,304

6. INVENTORIES
31.5.22 31.5.21
£    £   
Stocks 29,500 33,580

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Prepayments 398 1,310

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Trade Creditors 36,475 24,103
Corporation Tax 1,138 6,262
Social security and other taxes 1,086 -
Value Added Tax 3,443 3,908
Director's Current Account 595,311 601,181
Accrued Expenses 2,750 -
640,203 635,454

Hayes Optical Ltd (Registered number: 07634438)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.5.22 31.5.21
value: £    £   
100 Ordinary Share 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 June 2021 129,794
Profit for the year 6,030
At 31 May 2022 135,824