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Registration number: 08618788

Ledbury Eyecare Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Ledbury Eyecare Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Ledbury Eyecare Ltd

Company Information

Directors

Mr J Hill

Rhian Poulton

Company secretary

Mrs F Hill

Registered office

9 The Homend
Ledbury
Herefordshire
HR8 1BN

Accountants

INNventory Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Ledbury Eyecare Ltd

(Registration number: 08618788)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

21,441

26,273

Current assets

 

Stocks

6

21,000

21,000

Debtors

7

23,514

21,801

Cash at bank and in hand

 

72,053

55,030

 

116,567

97,831

Creditors: Amounts falling due within one year

8

(84,955)

(71,219)

Net current assets

 

31,612

26,612

Total assets less current liabilities

 

53,053

52,885

Provisions for liabilities

(5,360)

(4,992)

Net assets

 

47,693

47,893

Capital and reserves

 

Called up share capital

3

3

Retained earnings

47,690

47,890

Shareholders' funds

 

47,693

47,893

 

Ledbury Eyecare Ltd

(Registration number: 08618788)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2024 and signed on its behalf by:
 

.........................................
Mr J Hill
Director

 

Ledbury Eyecare Ltd

Notes to the Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 The Homend
Ledbury
Herefordshire
HR8 1BN
United Kingdom

These financial statements were authorised for issue by the Board on 20 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ledbury Eyecare Ltd

Notes to the Financial Statements for the Year Ended 31 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Professional equipment

20% straight line

Fixtures & fittings

20% straight line

Intangible assets

Intangibles arising on the acquisition of Franchise fees represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Franchise fees is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Franchise fees is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Franchise fees is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

Over 5 years

Cycle to work scheme

Over 5 years

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Ledbury Eyecare Ltd

Notes to the Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 8).

4

Intangible assets

Franchise fee
 £

Total
£

Cost or valuation

At 1 August 2022

135,500

135,500

At 31 July 2023

135,500

135,500

Amortisation

At 1 August 2022

135,500

135,500

At 31 July 2023

135,500

135,500

Carrying amount

At 31 July 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Professional and other equipments
£

Total
£

Cost or valuation

At 1 August 2022

7,917

35,626

43,543

Additions

5,636

55

5,691

At 31 July 2023

13,553

35,681

49,234

Depreciation

At 1 August 2022

5,515

11,755

17,270

Charge for the year

4,005

6,518

10,523

At 31 July 2023

9,520

18,273

27,793

Carrying amount

At 31 July 2023

4,033

17,408

21,441

At 31 July 2022

2,402

23,871

26,273

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

21,000

21,000

 

Ledbury Eyecare Ltd

Notes to the Financial Statements for the Year Ended 31 July 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

17,151

12,440

Prepayments

3,688

3,221

Other debtors

2,675

6,140

 

23,514

21,801

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

37,114

30,585

Taxation and social security

2,003

1,359

Accruals and deferred income

17,043

16,147

Other creditors

28,795

23,128

84,955

71,219