BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the supply of professional ophthalmic services and the manufacture, sale and repair of spectacles lenses and contact lenses. 29 July 2024 17 17 NI026664 2023-12-31 NI026664 2022-12-31 NI026664 2021-12-31 NI026664 2023-01-01 2023-12-31 NI026664 2022-01-01 2022-12-31 NI026664 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI026664 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI026664 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI026664 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 NI026664 uk-core:ShareCapital 2023-12-31 NI026664 uk-core:ShareCapital 2022-12-31 NI026664 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI026664 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI026664 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI026664 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI026664 uk-core:RestatedAmount uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI026664 uk-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI026664 uk-bus:FRS102 2023-01-01 2023-12-31 NI026664 uk-core:Goodwill 2023-01-01 2023-12-31 NI026664 uk-core:LandBuildings 2023-01-01 2023-12-31 NI026664 uk-core:PlantMachinery 2023-01-01 2023-12-31 NI026664 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI026664 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI026664 uk-core:Goodwill 2022-12-31 NI026664 uk-core:Goodwill 2023-12-31 NI026664 uk-core:CostValuation 2022-12-31 NI026664 uk-core:AdditionsToInvestments 2022-12-31 NI026664 uk-core:AdditionsToInvestments 2023-12-31 NI026664 uk-core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 NI026664 uk-core:CostValuation 2023-12-31 NI026664 2023-01-01 2023-12-31 NI026664 uk-bus:Director1 2023-01-01 2023-12-31 NI026664 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI026664
 
 
Lisburn Opticians Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Lisburn Opticians Limited
Company Registration Number: NI026664
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Non-Current Assets
Intangible assets 4 2,700 4,050
Property, plant and equipment 5 303,462 281,014
Financial assets 6 233,962 220,776
───────── ─────────
Non-Current Assets 540,124 505,840
───────── ─────────
 
Current Assets
Stocks 70,666 77,836
Debtors 484,031 612,182
Cash and cash equivalents 51,611 97,871
───────── ─────────
606,308 787,889
───────── ─────────
Creditors: amounts falling due within one year (101,789) (328,183)
───────── ─────────
Net Current Assets 504,519 459,706
───────── ─────────
Total Assets less Current Liabilities 1,044,643 965,546
 
Creditors:
amounts falling due after more than one year - (2,187)
 
Provisions for liabilities (17,101) (12,090)
───────── ─────────
Net Assets 1,027,542 951,269
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Capital and Reserves
Called up share capital 100 100
Retained earnings 1,027,442 951,169
───────── ─────────
Equity attributable to owners of the company 1,027,542 951,269
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Director's Report.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 29 July 2024
           
           
           
________________________________          
Mr. Sam Baird          
Director          
           



Lisburn Opticians Limited
STATEMENT OF CHANGES IN EQUITY
as at 31 December 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 January 2022 100 951,916 952,016
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Loss for the financial year - (747) (747)
───────── ───────── ─────────
At 31 December 2022 100 951,169 951,269
  ───────── ───────── ─────────
Profit for the financial year - 76,273 76,273
  ───────── ───────── ─────────
At 31 December 2023 100 1,027,442 1,027,542
  ═════════ ═════════ ═════════



Lisburn Opticians Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Lisburn Opticians Ltd is a company limited by shares incorporated in United Kingdom. The principal place of business and the registered office is 11 Castle Street, Lisburn, Northern Ireland. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the of the identifable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the end period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 33.33% & 15% Reducing balance
  Leased equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
  2023 2022
  Number Number
 
Employees 17 17
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 January 2023 13,500 13,500
  ───────── ─────────
 
At 31 December 2023 13,500 13,500
  ───────── ─────────
Amortisation
At 1 January 2023 9,450 9,450
Charge for financial year 1,350 1,350
  ───────── ─────────
At 31 December 2023 10,800 10,800
  ───────── ─────────
Net book value
At 31 December 2023 2,700 2,700
  ═════════ ═════════
At 31 December 2022 4,050 4,050
  ═════════ ═════════
             
5. Property, plant and equipment
  Land and Plant and Fixtures, Leased equipment Total
  buildings machinery fittings and    
  freehold   equipment    
  £ £ £ £ £
Cost
At 1 January 2023 250,902 111,064 69,039 29,461 460,466
Additions - 22,256 23,089 - 45,345
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 250,902 133,320 92,128 29,461 505,811
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 24,642 70,785 55,704 28,321 179,452
Charge for the financial year 5,018 11,001 6,650 228 22,897
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 29,660 81,786 62,354 28,549 202,349
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 221,242 51,534 29,774 912 303,462
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 December 2022 226,260 40,279 13,335 1,140 281,014
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost or Valuation
At 1 January 2023 220,776 220,776
Additions 4,619 4,619
Revaluations 8,567 8,567
  ───────── ─────────
At 31 December 2023 233,962 233,962
  ───────── ─────────
Net book value
At 31 December 2023 233,962 233,962
  ═════════ ═════════
At 31 December 2022 220,776 220,776
  ═════════ ═════════
   
7. Controlling interest
 
The company was under the control of Mr S Baird during the current and previous periods.