IRIS Accounts Production v23.3.1.45 07387545 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073875452022-09-30073875452023-09-30073875452022-10-012023-09-30073875452021-09-30073875452021-10-012022-09-30073875452022-09-3007387545ns10:Originalns15:EnglandWales2022-10-012023-09-3007387545ns14:PoundSterlingns10:Original2022-10-012023-09-3007387545ns10:Originalns10:Director12022-10-012023-09-3007387545ns10:Original2022-10-012023-09-3007387545ns10:Original2023-09-3007387545ns10:Originalns10:PrivateLimitedCompanyLtd2022-10-012023-09-3007387545ns10:Originalns10:SmallEntities2022-10-012023-09-3007387545ns10:Originalns10:AuditExemptWithAccountantsReport2022-10-012023-09-3007387545ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3007387545ns10:SmallCompaniesRegimeForAccountsns10:Original2022-10-012023-09-3007387545ns10:Originalns10:FullAccounts2022-10-012023-09-3007387545ns10:Original12022-10-012023-09-3007387545ns10:Originalns10:Director22022-10-012023-09-3007387545ns10:Originalns10:Director32022-10-012023-09-3007387545ns10:Originalns10:RegisteredOffice2022-10-012023-09-3007387545ns10:Original2022-09-3007387545ns10:Originalns5:CurrentFinancialInstruments2023-09-3007387545ns10:Originalns5:CurrentFinancialInstruments2022-09-3007387545ns10:Originalns5:Non-currentFinancialInstruments2023-09-3007387545ns10:Originalns5:Non-currentFinancialInstruments2022-09-3007387545ns5:ShareCapitalns10:Original2023-09-3007387545ns5:ShareCapitalns10:Original2022-09-3007387545ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3007387545ns10:Originalns5:NetGoodwill2022-10-012023-09-3007387545ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-10-012023-09-3007387545ns10:Originalns5:PlantMachinery2022-10-012023-09-3007387545ns10:Original2021-10-012022-09-3007387545ns10:Originalns5:NetGoodwill2022-09-3007387545ns10:Originalns5:NetGoodwill2023-09-3007387545ns10:Originalns5:NetGoodwill2022-09-3007387545ns10:Originalns5:LeaseholdImprovements2022-09-3007387545ns10:Originalns5:PlantMachinery2022-09-3007387545ns10:Originalns5:MotorVehicles2022-09-3007387545ns10:Original2022-09-3007387545ns10:Originalns5:LeaseholdImprovements2022-10-012023-09-3007387545ns10:Originalns5:MotorVehicles2022-10-012023-09-3007387545ns10:Originalns5:LeaseholdImprovements2023-09-3007387545ns10:Originalns5:PlantMachinery2023-09-3007387545ns10:Originalns5:MotorVehicles2023-09-3007387545ns10:Originalns5:LeaseholdImprovements2022-09-3007387545ns10:Originalns5:PlantMachinery2022-09-3007387545ns10:Originalns5:MotorVehicles2022-09-3007387545ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3007387545ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-30
REGISTERED NUMBER: 07387545 (England and Wales)












NORMA DAVIES OPTICIANS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2023






NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

NORMA DAVIES OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mrs N Y Davies
C G McAnaney
Mrs C McAnaney





REGISTERED OFFICE: 6 Pentrepoeth Road
Morriston
Swansea
West Glamorgan
SA6 6AB





REGISTERED NUMBER: 07387545 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 93,332 139,999
Tangible assets 5 71,042 49,834
164,374 189,833

CURRENT ASSETS
Stocks 129,865 104,769
Debtors 6 28,969 13,343
Cash at bank 354,240 265,185
513,074 383,297
CREDITORS
Amounts falling due within one year 7 455,511 341,454
NET CURRENT ASSETS 57,563 41,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,937

231,676

CREDITORS
Amounts falling due after more than one year 8 - (85,366 )

PROVISIONS FOR LIABILITIES (17,761 ) (9,468 )
NET ASSETS 204,176 136,842

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 204,076 136,742
SHAREHOLDERS' FUNDS 204,176 136,842

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

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 Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:



Mrs C McAnaney - Director


NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Norma Davies Opticians Limited 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
Turnover represents net invoiced sales and services of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of fifteen 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 - 25% on cost and 10% on cost

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.

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.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at transaction price.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Functional and Presentation Currency
The company's functional and presentation currency is pounds sterling.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 700,000
AMORTISATION
At 1 October 2022 560,001
Amortisation for year 46,667
At 30 September 2023 606,668
NET BOOK VALUE
At 30 September 2023 93,332
At 30 September 2022 139,999

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property Machinery vehicles Totals
£    £    £    £   
COST
At 1 October 2022 102,563 211,681 19,380 333,624
Additions - 40,432 - 40,432
At 30 September 2023 102,563 252,113 19,380 374,056
DEPRECIATION
At 1 October 2022 52,729 211,681 19,380 283,790
Charge for year 9,116 10,108 - 19,224
At 30 September 2023 61,845 221,789 19,380 303,014
NET BOOK VALUE
At 30 September 2023 40,718 30,324 - 71,042
At 30 September 2022 49,834 - - 49,834

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,594 8,049
VAT - 1,315
Prepayments 3,375 3,979
28,969 13,343

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 7,282
Trade creditors 41,409 42,098
Amounts owed to associates 161,766 110,846
Tax 120,841 92,998
Social security and other taxes 4,648 3,285
VAT 8,140 -
Directors' current accounts 116,407 82,569
Accrued expenses 2,300 2,376
455,511 341,454

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 5,366
Directors loan account - 80,000
- 85,366

9. ULTIMATE CONTROLLING PARTY

C McAnaney Optical Ltd is the ultimate controlling party and holds 90% of the shares. This company is owned by 2 of the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NORMA DAVIES OPTICIANS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norma Davies Opticians Limited for the year ended 30 September 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Norma Davies Opticians Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norma Davies Opticians Limited and state those matters that we have agreed to state to the Board of Directors of Norma Davies Opticians Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norma Davies Opticians Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Norma Davies Opticians Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norma Davies Opticians Limited. You consider that Norma Davies Opticians Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Norma Davies Opticians Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


21 February 2024