Company registration number 06723587 (England and Wales)
Primary Eyecare (Wirral) Limited
(Limited By Guarantee)
Unaudited financial statements
For the year ended 31 October 2023
Primary Eyecare (Wirral) Limited
(Limited By Guarantee)
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Primary Eyecare (Wirral) Limited
(Limited By Guarantee)
Balance sheet
As at 31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,179
265
Current assets
Debtors
5
83,602
41,584
Cash at bank and in hand
32,320
108,888
115,922
150,472
Creditors: amounts falling due within one year
6
(1,561)
(38,195)
Net current assets
114,361
112,277
Total assets less current liabilities
115,540
112,542
Provisions for liabilities
(50)
(50)
Net assets
115,490
112,492
Reserves
Income and expenditure account
115,490
112,492
Members' funds
115,490
112,492
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Primary Eyecare (Wirral) Limited
(Limited By Guarantee)
Balance sheet (continued)
As at 31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 April 2024 and are signed on its behalf by:
Mr K Howard
Mr I R McGarvey
Director
Director
Mrs E A Jones
Director
Company registration number 06723587 (England and Wales)
PRIMARY EYECARE (WIRRAL) LIMITED
Primary Eyecare (Wirral) Limited
(LIMITED BY GUARANTEE)
Notes to the financial statements
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information
Primary Eyecare (Wirral) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Chester House, Lloyd Drive, Cheshire Oaks Business Park, Ellesmere Port, Cheshire, England, CH65 9HQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company is not entitled to register for VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year, they are not amortised but carried at face value.
PRIMARY EYECARE (WIRRAL) LIMITED
Primary Eyecare (Wirral) Limited
(LIMITED BY GUARANTEE)
Notes to the financial statements (continued)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 continue to be measured at face value.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).
2023
2022
Number
Number
Total
1
1
PRIMARY EYECARE (WIRRAL) LIMITED
Primary Eyecare (Wirral) Limited
(LIMITED BY GUARANTEE)
Notes to the financial statements (continued)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
513
Additions
1,150
At 31 October 2023
1,663
Depreciation and impairment
At 1 November 2022
248
Depreciation charged in the year
236
At 31 October 2023
484
Carrying amount
At 31 October 2023
1,179
At 31 October 2022
265
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Service charges due
81,118
40,277
Other debtors
2,484
1,307
83,602
41,584
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
26,424
Taxation and social security
1,339
11,507
Other creditors
222
264
1,561
38,195
7
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £10.