Registered number
05825414
Rowland Roberts Opticians Limited
Filleted Accounts
31 August 2023
Rowland Roberts Opticians Limited
Registered number: 05825414
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 35,000 35,000
Tangible assets 4 1,036 1,003
36,036 36,003
Current assets
Stocks 402 714
Debtors 5 406 1,406
Cash at bank and in hand 91 145
899 2,265
Creditors: amounts falling due within one year 6 (27,875) (31,233)
Net current liabilities (26,976) (28,968)
Total assets less current liabilities 9,060 7,035
Provisions for liabilities (196) (191)
Net assets 8,864 6,844
Capital and reserves
Called up share capital 100 100
Profit and loss account 8,764 6,744
Shareholders' funds 8,864 6,844
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rowland Roberts
Director
Approved by the board on 19 October 2023
Rowland Roberts Opticians Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 35,000
At 31 August 2023 35,000
Amortisation
At 31 August 2023 -
Net book value
At 31 August 2023 35,000
At 31 August 2022 35,000
4 Tangible fixed assets
Plant and machinery etc Computer equipment Total
£ £ £
Cost
At 1 September 2022 27,545 2,352 29,897
Additions - 199 199
At 31 August 2023 27,545 2,551 30,096
Depreciation
At 1 September 2022 26,542 2,352 28,894
Charge for the year 100 66 166
At 31 August 2023 26,642 2,418 29,060
Net book value
At 31 August 2023 903 133 1,036
At 31 August 2022 1,003 - 1,003
5 Debtors 2023 2022
£ £
Trade debtors - 886
Other debtors 406 520
406 1,406
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,517 6,923
Trade creditors 2,430 2,947
Taxation and social security costs 2,362 2,610
Other creditors 16,566 18,753
27,875 31,233
7 Other information
Rowland Roberts Opticians Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Holt Place
Coach House Mews
Ferndown
Dorset
BH22 9UX
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