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REGISTERED NUMBER: NI044355 (Northern Ireland)















CRAIG HENDERSON OPTICIANS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023






CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRAIG HENDERSON OPTICIANS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2023







DIRECTOR: J C Henderson





SECRETARY: Mrs E Henderson





REGISTERED OFFICE: 1 The Square
Ballynahinch
Co. Down
BT24 8AE





REGISTERED NUMBER: NI044355 (Northern Ireland)





ACCOUNTANTS: Jones
Chartered Accountants
4 Comber Street
Saintfield
BALLYNAHINCH
BT24 7AZ

CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

BALANCE SHEET
30 April 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 56,078 21,818

CURRENT ASSETS
Stocks 23,403 20,023
Debtors 5 5,832 4,549
Cash at bank and in hand 90,535 126,690
119,770 151,262
CREDITORS
Amounts falling due within one year 6 (27,163 ) (40,170 )
NET CURRENT ASSETS 92,607 111,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,685

132,910

PROVISIONS FOR LIABILITIES (14,020 ) (4,145 )
NET ASSETS 134,665 128,765

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 134,565 128,665
SHAREHOLDERS' FUNDS 134,665 128,765

CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

BALANCE SHEET - continued
30 April 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:





J C Henderson - Director


CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2023


1. STATUTORY INFORMATION

Craig Henderson Opticians Limited is a private company, limited by shares , registered in Northern Ireland. 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
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention modified to include certain items at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard FRS 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.


Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for good and services in the normal course of business net of VAT and trade discounts.

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from supply of services is recognised when the services are rendered using the percentage of completion method based on the actual services provided as a proportion of the total services performed.

CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
No depreciation is charged on freehold land. For all other assets depreciation is charged to write off their cost or valuation less estimated residual value over their expected useful lives. The methods adopted and rates used are as follows:

Alterations short leasehold premises- 20% straight line
Fixtures and equipment - 15 - 33 1/3% straight line
Motor vehicles- 25% reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model. Under the accrual model. Government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

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 Statement of Income and Retained Earnings, 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.


CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 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.

Hire purchase and leasing commitments
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 defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

Basic financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£ £ £ £
COST
At 1 May 2022 9,781 75,871 27,731 113,383
Additions - 46,815 - 46,815
Disposals - (2,536 ) - (2,536 )
At 30 April 2023 9,781 120,150 27,731 157,662
DEPRECIATION
At 1 May 2022 9,781 64,046 17,738 91,565
Charge for year - 10,016 2,498 12,514
Eliminated on disposal - (2,495 ) - (2,495 )
At 30 April 2023 9,781 71,567 20,236 101,584
NET BOOK VALUE
At 30 April 2023 - 48,583 7,495 56,078
At 30 April 2022 - 11,825 9,993 21,818

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 3,753 2,255
Other debtors 2,079 2,294
5,832 4,549

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 4,699 5,448
Taxation and social security 12,094 24,808
Other creditors 10,370 9,914
27,163 40,170

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 each 100 100

CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


8. PENSION COMMITMENTS

The company operates defined contribution pension schemes for its directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

20232022
£   £   
Contributions paid29,6808,977
Contributions outstanding at the year end
and included in other creditors137-

9. CONTINGENT LIABILITIES

There were no known contingencies at the balance sheet date (2022 - £Nil).

10. CAPITAL COMMITMENTS
2023 2022
£ £
Contracted but not provided for in the
financial statements - -

11. OTHER FINANCIAL COMMITMENTS

Operating lease commitments

Annual commitments exist under non-cancellable operating leases as follows:


Land and buildings

2023 2022
£    £   
Expiring:
Less than one year - 6,000


Rentals payable in respect of property leases are subject to yearly and five yearly rent reviews.

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£ £
J C Henderson
Balance outstanding at start of year - 172
Amounts repaid - (172 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

CRAIG HENDERSON OPTICIANS LIMITED (REGISTERED NUMBER: NI044355)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

Advances to the director are interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

Other transactions with director

During the year the company paid rent totalling £2,500 (2022 - £6,000) in respect of property jointly
owned by key management personnel.