REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
NORWOOD & PERRIN LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
NORWOOD & PERRIN LIMITED (REGISTERED NUMBER: 01058205) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
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. |
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 |
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 |
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 |
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 |
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 |
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 |
AMORTISATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | fittings |
property | Plant and | and |
alterations | machinery | computers | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2022 |
Additions |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
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 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Other loans |
Hire purchase contracts (see note 10) |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 6,723 | 5,628 |
Other creditors |
Directors' current accounts | 2,500 | 2,084 |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Hire purchase contracts (see note 10) |
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 |
Between one and five years |
Non-cancellable | operating leases |
30.11.23 | 30.11.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
B Ordinary | £1 | 6,750 | 6,750 |
C Ordinary | £1 | 6,750 | 6,750 |
D Ordinary | £1 | 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) |