Registered number
13061439
The Opticians Easingwold Limited
Unaudited Filleted Accounts
31 March 2023
The Opticians Easingwold Limited
Registered number: 13061439
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 132,000 148,500
Tangible assets 4 11,029 11,594
143,029 160,094
Current assets
Stocks 14,750 14,250
Debtors 5 1,492 7,224
Cash at bank and in hand 103,513 103,916
119,755 125,390
Creditors: amounts falling due within one year 6 (134,674) (244,382)
Net current liabilities (14,919) (118,992)
Net assets 128,110 41,102
Capital and reserves
Called up share capital 100 100
Profit and loss account 128,010 41,002
Shareholders' funds 128,110 41,102
The directors are 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 directors acknowledge their 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.
P C Tegerdine
Director
Approved by the board on 24 November 2023
The Opticians Easingwold Limited
Notes to the Accounts
for the year ended 31 March 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:
Fixtures, fittings, and equipment 25% on the reducing balance basis
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.
Accounting policies (cont'd)
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 165,000
At 31 March 2023 165,000
Amortisation
At 1 April 2022 16,500
Provided during the year 16,500
At 31 March 2023 33,000
Net book value
At 31 March 2023 132,000
At 31 March 2022 148,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 April 2022 15,459
Additions 3,112
At 31 March 2023 18,571
Depreciation
At 1 April 2022 3,865
Charge for the year 3,677
At 31 March 2023 7,542
Net book value
At 31 March 2023 11,029
At 31 March 2022 11,594
5 Debtors 2023 2022
£ £
Other debtors including VAT 1,492 7,224
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,472 15,915
Taxation and social security costs 36,855 22,655
Directors' loan account 82,904 114,802
Other creditors 1,443 91,010
134,674 244,382
7 Controlling party
The ultimate controlling party is the directors P C Tegerdine and D G Good.
8 Other information
The Opticians Easingwold Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Brays, Riverview Court
Castle Gate
Wetherby
West Yorkshire
LS22 6LE
The Opticians Easingwold Limited 13061439 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 P C Tegerdine No description of principal activity 13061439 2020-12-04 2022-03-31 13061439 core:WithinOneYear 2022-03-31 13061439 core:ShareCapital 2022-03-31 13061439 core:RetainedEarningsAccumulatedLosses 2022-03-31 13061439 2022-04-01 2023-03-31 13061439 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13061439 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13061439 bus:Director40 2022-04-01 2023-03-31 13061439 1 2022-04-01 2023-03-31 13061439 2 2022-04-01 2023-03-31 13061439 core:Goodwill 2022-04-01 2023-03-31 13061439 core:PlantMachinery 2022-04-01 2023-03-31 13061439 countries:England 2022-04-01 2023-03-31 13061439 bus:FRS102 2022-04-01 2023-03-31 13061439 bus:FullAccounts 2022-04-01 2023-03-31 13061439 2023-03-31 13061439 core:WithinOneYear 2023-03-31 13061439 core:ShareCapital 2023-03-31 13061439 core:RetainedEarningsAccumulatedLosses 2023-03-31 13061439 core:Goodwill 2023-03-31 13061439 core:PlantMachinery 2023-03-31 13061439 2022-03-31 13061439 core:Goodwill 2022-03-31 13061439 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure