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REGISTERED NUMBER: SC508371 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Hall Opticians Inverness Limited

Hall Opticians Inverness Limited (Registered number: SC508371)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hall Opticians Inverness Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: C Hall





REGISTERED OFFICE: 1 Bow Court
Church Street
Inverness
IV1 1HB





REGISTERED NUMBER: SC508371 (Scotland)





ACCOUNTANTS: Mackay & Co CA
3 Fodderty Way
Dingwall
Ross-shire
IV15 9XB

Hall Opticians Inverness Limited (Registered number: SC508371)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,000 26,000
Tangible assets 5 137,248 126,236
161,248 152,236

CURRENT ASSETS
Stocks 10,209 11,343
Debtors 6 7,723 7,570
Cash at bank and in hand 40,335 44,023
58,267 62,936
CREDITORS
Amounts falling due within one year 7 51,600 42,582
NET CURRENT ASSETS 6,667 20,354
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,915

172,590

CREDITORS
Amounts falling due after more than
one year

8

(97,517

)

(121,179

)

PROVISIONS FOR LIABILITIES (3,840 ) (1,748 )
NET ASSETS 66,558 49,663

Hall Opticians Inverness Limited (Registered number: SC508371)

Balance Sheet - continued
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 66,557 49,662
66,558 49,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 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 director and authorised for issue on 2 October 2023 and were signed by:





C Hall - Director


Hall Opticians Inverness Limited (Registered number: SC508371)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Hall Opticians Inverness Limited is a private company, limited by shares , registered in Scotland. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

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 etc - 33% on cost and 25% 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.

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.


Hall Opticians Inverness Limited (Registered number: SC508371)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

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.

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 40,000
AMORTISATION
At 1 July 2022 14,000
Charge for year 2,000
At 30 June 2023 16,000
NET BOOK VALUE
At 30 June 2023 24,000
At 30 June 2022 26,000

Hall Opticians Inverness Limited (Registered number: SC508371)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 117,034 43,710 160,744
Additions - 17,972 17,972
At 30 June 2023 117,034 61,682 178,716
DEPRECIATION
At 1 July 2022 - 34,508 34,508
Charge for year - 6,960 6,960
At 30 June 2023 - 41,468 41,468
NET BOOK VALUE
At 30 June 2023 117,034 20,214 137,248
At 30 June 2022 117,034 9,202 126,236

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 6,374 6,371
Other debtors 1,349 1,199
7,723 7,570

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 29,969 28,771
Hire purchase contracts 2,952 -
Trade creditors 5,136 3,138
Taxation and social security 12,893 10,320
Other creditors 650 353
51,600 42,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 91,119 121,179
Hire purchase contracts 6,398 -
97,517 121,179