Registered Number:07732751 |
For the year ended 30 November 2023
England and Wales
Unaudited Financial Statements
For the year ended 30 November 2023
Wade Optometry Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
Wade Optometry Limited
Statement of Financial Position
2022
2023
1
1
2
Property, plant and equipment |
170,104
178,418
3
170,105
178,419
51,698
40,396
4
Trade and other receivables |
39,829
46,328
5
1,426
Cash and cash equivalents |
-
86,724
92,953
Trade and other payables: amounts falling due within one |
year |
(83,203)
(62,612)
6
9,750
24,112
Net current assets
Total assets less current liabilities |
194,217
188,169
Trade and other payables: amounts falling due after more |
than one year |
(233,810)
(216,390)
7
(22,173)
Net liabilities
(45,641)
1
1
(22,174)
(45,642)
(22,173)
(45,641)
Shareholders' funds
For the year ended 30 November 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Alastair Geoffrey Wade Director |
These financial statements were approved and authorised for issue by the Board on 05 August 2024 and were signed by: |
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For the year ended 30 November 2023
Wade Optometry Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 30 November 2023
Wade Optometry Limited
Notes to the Financial Statements
Statutory Information
Wade Optometry Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 07732751. |
Principal place of business: |
85 Westgate
Guisborough
TS14 6AF
7 Romangate
Middleton St. George
Darlington
Durham
DL2 1FG
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of 10 years. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Land and Buildings
Plant and Machinery
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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For the year ended 30 November 2023
Wade Optometry Limited
Notes to the Financial Statements Continued
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
2. Intangible fixed assets |
Goodwill
133,425
133,425
133,424
133,424
1
1
Intangible assets are measured at cost.
3. Property, plant and equipment |
347,294
167,294
180,000
180,000
167,294
347,294
Provision for depreciation and impairment |
168,876
162,576
6,300
Charge for year
8,314
4,714
3,600
177,190
167,290
9,900
170,100
4
170,104
173,700
4,718
178,418
2022
2023
40,396
51,698
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For the year ended 30 November 2023
Wade Optometry Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2022
2023
4,107
4,788
42,221
35,041
39,829
46,328
6. Trade and other payables: amounts falling due within one year |
2022
2023
Bank loans and overdraft (secured) |
12,647
12,407
6,822
4,947
30,242
41,523
Taxation and social security |
725
5,653
12,176
18,673
62,612
83,203
7. Trade and other payables: amounts falling due after more than one year |
2022
2023
27,623
32,570
Bank loans and overdraft (secured) |
188,767
201,240
216,390
233,810
Analysis of creditors falling due after more than five years: |
132,932
151,552
All monies due or to become due to National Westminster Bank Plc are secured under a fixed charge, created on 15th February 2021 over the company's Darlington property. All monies due or to become due to National Westminster Bank Plc are secured under a fixed and floating charge, created on 4th February 2021 over the assets of the company. |
8. Related party transactions |
As at 30 November 2023, Mr Alastair Geoffrey Wade (Director) was owed £3,149 (year ended 30 November 2022 - |
£29). This balance arose in relation to a loan. |
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For the year ended 30 November 2023
Wade Optometry Limited
Notes to the Financial Statements Continued
9. Directors advances and guarantees |
Loaned
Repaid
Mr Alexander James Wade
Loan
33,351
32,096
35,252
33,997
33,351
32,096
35,252
33,997
10. Guarantees and other financial commitments |
At 30 November 2023 the company had annual commitments under non-cancellable operating leases as set out |
below: |
2022
2023
Operating leases which expire: |
12,767
38,300
12,767
-
12,767
51,067
The above represent the total commitments analysed by the time period in which the leases are due to expire.
11. Average number of persons employed |
During the period the average number of employees was 8 (2022 : 8)
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