Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-317trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-06-01No description of principal activity7true 07956437 2021-06-01 2022-05-31 07956437 2022-05-31 07956437 c:Director1 2022-06-01 2023-05-31 07956437 c:Director4 2022-06-01 2023-05-31 07956437 c:RegisteredOffice 2022-06-01 2023-05-31 07956437 d:Buildings d:LongLeaseholdAssets 2022-06-01 2023-05-31 07956437 d:Buildings d:LongLeaseholdAssets 2023-05-31 07956437 d:Buildings d:LongLeaseholdAssets 2022-05-31 07956437 d:FurnitureFittings 2022-06-01 2023-05-31 07956437 d:FurnitureFittings 2023-05-31 07956437 d:FurnitureFittings 2022-05-31 07956437 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07956437 d:OfficeEquipment 2022-06-01 2023-05-31 07956437 d:OfficeEquipment 2023-05-31 07956437 d:OfficeEquipment 2022-05-31 07956437 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07956437 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07956437 d:Goodwill 2022-06-01 2023-05-31 07956437 d:Goodwill 2023-05-31 07956437 d:Goodwill 2022-05-31 07956437 d:CurrentFinancialInstruments 2023-05-31 07956437 d:CurrentFinancialInstruments 2022-05-31 07956437 d:Non-currentFinancialInstruments 2023-05-31 07956437 d:Non-currentFinancialInstruments 2022-05-31 07956437 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07956437 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 07956437 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07956437 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 07956437 d:ShareCapital 2023-05-31 07956437 d:ShareCapital 2022-05-31 07956437 d:RetainedEarningsAccumulatedLosses 2023-05-31 07956437 d:RetainedEarningsAccumulatedLosses 2022-05-31 07956437 c:FRS102 2022-06-01 2023-05-31 07956437 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 07956437 c:FullAccounts 2022-06-01 2023-05-31 07956437 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07956437 d:WithinOneYear 2023-05-31 07956437 d:WithinOneYear 2022-05-31 07956437 d:BetweenOneFiveYears 2023-05-31 07956437 d:BetweenOneFiveYears 2022-05-31 07956437 2022-06-01 2023-05-31 07956437 2023-05-31 07956437 d:Goodwill d:OwnedIntangibleAssets 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
Company registration number: 07956437







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2023


FOCAL POINT (OPTICAL) LIMITED






































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FOCAL POINT (OPTICAL) LIMITED
 


 
COMPANY INFORMATION


Directors
G K Pandya 
N G O Beckwood 




Registered number
07956437



Registered office
70 Church Road
Barnes

London

SW13 0DQ




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


FOCAL POINT (OPTICAL) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


FOCAL POINT (OPTICAL) LIMITED
REGISTERED NUMBER:07956437



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
43,000

Tangible assets
 5 
26,507
34,129

  
26,507
77,129

Current assets
  

Stocks
  
44,767
40,332

Debtors: amounts falling due within one year
 6 
260,933
223,984

Cash at bank and in hand
  
13,435
32,565

  
319,135
296,881

Creditors: amounts falling due within one year
 7 
(66,282)
(88,227)

Net current assets
  
 
 
252,853
 
 
208,654

Total assets less current liabilities
  
279,360
285,783

Creditors: amounts falling due after more than one year
 8 
(21,595)
(31,568)

  

Net assets
  
257,765
254,215


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
257,665
254,115

  
257,765
254,215


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.


The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 


FOCAL POINT (OPTICAL) LIMITED
REGISTERED NUMBER:07956437


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N G O Beckwood
Director

Date: 7 March 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


FOCAL POINT (OPTICAL) LIMITED
 


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

1.


General information

Focal Point (Optical) Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents amounts (excluding value added tax) derived from the provision of optical goods and services to customers during the year.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 


FOCAL POINT (OPTICAL) LIMITED
 


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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.




Page 4

 


FOCAL POINT (OPTICAL) LIMITED
 


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

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold property
-
25%
net book value
Fixtures and fittings
-
25%
net book value
Equipment
-
25%
net book value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to
complete and sell. Cost is based on the cost of purchase.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 


FOCAL POINT (OPTICAL) LIMITED
 


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

4.


Intangible assets




Goodwill

£



Cost


At 1 June 2022
430,000



At 31 May 2023

430,000



Amortisation


At 1 June 2022
387,000


Charge for the year
43,000



At 31 May 2023

430,000



Net book value



At 31 May 2023
-



At 31 May 2022
43,000




5.


Tangible fixed assets





Leasehold property
Fixtures and fittings
Equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
32,910
158,088
65,434
256,432


Additions
-
-
1,217
1,217



At 31 May 2023

32,910
158,088
66,651
257,649



Depreciation


At 1 June 2022
32,852
153,290
36,163
222,305


Charge for the year
15
1,200
7,622
8,837



At 31 May 2023

32,867
154,490
43,785
231,142



Net book value



At 31 May 2023
43
3,598
22,866
26,507



At 31 May 2022
59
4,798
29,271
34,128

Page 6

 


FOCAL POINT (OPTICAL) LIMITED
 


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

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
222,335
201,205

Other debtors
27,717
5,451

Prepayments and accrued income
8,999
15,269

Deferred taxation
1,882
2,059

260,933
223,984



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,973
9,727

Trade creditors
21,979
47,113

Corporation tax
19,550
18,327

Other taxation and social security
3,778
3,159

Other creditors
2,502
2,001

Accruals and deferred income
8,500
7,900

66,282
88,227



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,595
31,568

21,595
31,568



9.


Commitments under operating leases

At 31 May 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
26,500
26,500

Later than 1 year and not later than 5 years
40,854
67,354

67,354
93,854

 
Page 7