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REGISTERED NUMBER: 05547196 (England and Wales)















J : D OPTICIANS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


J : D OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: D J O'Beirne





SECRETARY: D J O'Beirne





REGISTERED OFFICE: 17/19 Appletongate
Newark
Nottinghamshire
NG24 1JR





REGISTERED NUMBER: 05547196 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 86,798 10,997
Investment property 6 130,000 130,000
216,798 140,997

CURRENT ASSETS
Inventories 69,850 61,292
Debtors 7 45,757 12,931
Cash at bank 52,576 44,449
168,183 118,672
CREDITORS
Amounts falling due within one year 8 67,176 77,575
NET CURRENT ASSETS 101,007 41,097
TOTAL ASSETS LESS CURRENT LIABILITIES 317,805 182,094

CREDITORS
Amounts falling due after more than one year 9 (80,659 ) (27,500 )

PROVISIONS FOR LIABILITIES (25,339 ) (4,840 )
NET ASSETS 211,807 149,754

CAPITAL AND RESERVES
Called up share capital 10 50 50
Revaluation reserve 11 11,180 12,075
Capital redemption reserve 50 50
Retained earnings 200,527 137,579
SHAREHOLDERS' FUNDS 211,807 149,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2023


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 by the director and authorised for issue on 20 March 2024 and were signed by:





D J O'Beirne - Director


J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

J : D 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 as modified by the revaluation of certain assets.

Revenue
Revenue represents net invoiced sales of eye wear, eye tests and other optical supplies, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
The valuation is stated at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised 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 the shorter.

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

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 6 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 180,000
AMORTISATION
At 1 September 2022
and 31 August 2023 180,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2022 122,886
Additions 97,958
At 31 August 2023 220,844
DEPRECIATION
At 1 September 2022 111,889
Charge for year 22,157
At 31 August 2023 134,046
NET BOOK VALUE
At 31 August 2023 86,798
At 31 August 2022 10,997


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 130,000
NET BOOK VALUE
At 31 August 2023 130,000
At 31 August 2022 130,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2020 14,907
Cost 115,093
130,000

If investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 115,093 115,093

Investment properties were valued on an open market basis on 31 August 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,437 10,017
Directors' current accounts 29,065 -
VAT 3,708 1,063
Prepayments 1,547 1,851
45,757 12,931

J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,673 -
Trade creditors 34,475 24,809
Taxation 10,779 26,289
Other taxes and social security 493 2,482
Other creditors 240 516
Directors' current accounts - 9,328
Accrued expenses 3,516 4,151
67,176 77,575

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 7,500 17,500
Hire purchase contracts 63,159 -
80,659 27,500

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 21,462 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary £1 50 50

11. RESERVES
Revaluation
reserve
£   
At 1 September 2022 12,075
Deferred tax (895 )

At 31 August 2023 11,180

12. OTHER FINANCIAL COMMITMENTS

The company had commitments due as follows;

20232022
££
Within one year14,00014,000
Between one and two years14,00014,000
Between two and five years14,00028,000
Over five years
42,00056,000

J : D OPTICIANS LIMITED (REGISTERED NUMBER: 05547196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
D J O'Beirne
Balance outstanding at start of year - -
Amounts advanced 29,065 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,065 -