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REGISTERED NUMBER: 01058205 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

NORWOOD & PERRIN LIMITED

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORWOOD & PERRIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr D Dand
Mr P Dand



REGISTERED OFFICE: 10 Eldon Arcade
Barnsley
South Yorkshire
S70 2JP



REGISTERED NUMBER: 01058205 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: National Westminster Bank plc
26 Market Hill
Barnsley
South Yorkshire
S70 2QE

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,583 9,583
Tangible assets 5 27,445 45,655
36,028 55,238

CURRENT ASSETS
Stocks 6 18,535 20,910
Debtors 7 17,261 14,610
Cash at bank and in hand 53,693 42,321
89,489 77,841
CREDITORS
Amounts falling due within one year 8 58,567 64,138
NET CURRENT ASSETS 30,922 13,703
TOTAL ASSETS LESS CURRENT LIABILITIES 66,950 68,941

CREDITORS
Amounts falling due after more than
one year

9

-

(1,130

)

PROVISIONS FOR LIABILITIES (5,214 ) (6,023 )
NET ASSETS 61,736 61,788

CAPITAL AND RESERVES
Called up share capital 11 20,250 20,250
Capital redemption reserve 6,750 6,750
Retained earnings 34,736 34,788
SHAREHOLDERS' FUNDS 61,736 61,788

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

BALANCE SHEET - continued
30 NOVEMBER 2023


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

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

The financial statements were approved for issue by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





Mr D Dand - Director


NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

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

1. STATUTORY INFORMATION

Norwood & Perrin 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

This is the first year that the company has presented its financial statements under Financial Reporting Standard 102 (FRS102) issued by the financial Reporting Council. The last financial statements for the year ended 30 November 2016 were prepared under the previous UK GAAP, and the transition date to FRS102 is therefore 1 December 2015. At the date of transition, no adjustments were required.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of opthalmic goods or services 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 transfer of goods or completion of service.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

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

2. ACCOUNTING POLICIES - continued

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.

Leasehold property alterations - 8% on cost
Climate room - 20% on straight line
Plant and machinery - 15% on reducing balance
Fixtures, fittings and computers - 33% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock.
Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalizes in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

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 16 (2022 - 15 ) .

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 10,000
AMORTISATION
At 1 December 2022 417
Charge for year 1,000
At 30 November 2023 1,417
NET BOOK VALUE
At 30 November 2023 8,583
At 30 November 2022 9,583

5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
property Plant and and
alterations machinery computers Totals
£    £    £    £   
COST
At 1 December 2022 101,457 80,211 33,208 214,876
Additions - - 930 930
At 30 November 2023 101,457 80,211 34,138 215,806
DEPRECIATION
At 1 December 2022 87,504 56,078 25,639 169,221
Charge for year 13,953 3,617 1,570 19,140
At 30 November 2023 101,457 59,695 27,209 188,361
NET BOOK VALUE
At 30 November 2023 - 20,516 6,929 27,445
At 30 November 2022 13,953 24,133 7,569 45,655

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

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

6. STOCKS
30.11.23 30.11.22
£    £   
Goods for resale 18,535 20,910

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 13,384 10,621
Prepayments and accrued income 3,877 3,989
17,261 14,610

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other loans - 2,368
Hire purchase contracts (see note 10) - 13,560
Trade creditors 23,270 21,498
Corporation tax 16,759 9,000
Social security and other taxes 4,375 4,725
VAT 6,723 5,628
Other creditors 105 105
Directors' current accounts 2,500 2,084
Accruals and deferred income 4,835 5,170
58,567 64,138

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts (see note 10) - 1,130

NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205)

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

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year - 13,560
Between one and five years - 1,130
- 14,690

Non-cancellable operating leases
30.11.23 30.11.22
£    £   
Within one year 37,000 37,000
Between one and five years 104,500 133,500
In more than five years 28,666 36,666
170,166 207,166

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
6,750 B Ordinary £1 6,750 6,750
6,750 C Ordinary £1 6,750 6,750
3,375 D Ordinary £1 3,375 3,375
3,375 E Ordinary £1 3,375 3,375
20,250 20,250

12. OTHER FINANCIAL COMMITMENTS

Total financial commitment, guarantees and contingencies which are not included in the balance sheet amount to £170,166 (2022: £207,166)