2022-12-01 07732751 2023-11-30 07732751 2022-12-01 2023-11-30 07732751 2022-11-30 07732751 2021-12-01 2022-11-30 07732751 uk-core:WithinOneYear 2022-11-30 07732751 uk-core:WithinOneYear 2023-11-30 07732751 uk-core:AfterOneYear 2022-11-30 07732751 uk-core:AfterOneYear 2023-11-30 07732751 uk-core:ShareCapital 2023-11-30 07732751 uk-core:ShareCapital 2022-11-30 07732751 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 07732751 uk-core:RetainedEarningsAccumulatedLosses 2022-11-30 07732751 uk-bus:Director1 2022-12-01 2023-11-30 07732751 uk-core:NetGoodwill 2022-12-01 2023-11-30 07732751 uk-core:LandBuildings 2022-12-01 2023-11-30 07732751 uk-core:PlantMachinery 2022-12-01 2023-11-30 07732751 uk-core:Goodwill 2022-11-30 07732751 uk-core:Goodwill 2023-11-30 07732751 uk-core:PlantMachinery 2022-11-30 07732751 uk-core:LandBuildings 2022-11-30 07732751 uk-core:LandBuildings 2023-11-30 07732751 uk-core:PlantMachinery 2023-11-30 07732751 uk-core:WithinOneYear uk-core:Secured 2023-11-30 07732751 uk-core:WithinOneYear uk-core:Secured 2022-11-30 07732751 uk-core:WithinOneYear 2023-11-30 07732751 uk-core:WithinOneYear 2022-11-30 07732751 uk-core:AfterOneYear uk-core:Secured 2023-11-30 07732751 uk-core:AfterOneYear uk-core:Secured 2022-11-30 07732751 uk-core:IndeterminateMaturityNon-expiringFinancialInstruments 2023-11-30 07732751 uk-core:IndeterminateMaturityNon-expiringFinancialInstruments 2022-11-30 07732751 uk-core:AfterOneYear 2022-12-01 2023-11-30 07732751 2 uk-bus:Director2 2022-12-01 2023-11-30 07732751 2 uk-bus:Director2 2023-11-30 07732751 2 uk-bus:Director2 2022-11-30 07732751 uk-core:BetweenTwoFiveYears 2022-11-30 07732751 uk-core:BetweenTwoFiveYears 2023-11-30 iso4217:GBP xbrli:pure 07732751 uk-bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07732751 uk-bus:FRS102 2022-12-01 2023-11-30 07732751 uk-bus:FilletedAccounts 2022-12-01 2023-11-30 07732751 uk-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30
Wade Optometry Limited
Registered Number:07732751
For the year ended 30 November 2023
England and Wales
Unaudited Financial Statements
2
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
3
Registered Number :
07732751
As at 30 November 2023
Wade Optometry Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
1
1
2
Property, plant and equipment
170,104
178,418
3
170,105
178,419
Current assets
Inventories
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)
Capital and reserves
Called up share capital
1
1
Retained earnings
(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:
1 of 6
4
Registered Number :
07732751
For the year ended 30 November 2023
Wade Optometry Limited
Statement of Financial Position Continued
The notes form part of these financial statements
2 of 6
5
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
Registered address:
7 Romangate
Middleton St. George
Darlington
Durham
DL2 1FG
The presentation currency is £ sterling.
1. Accounting policies
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
2% Straight line
Plant and Machinery
15%/25% Straight line
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.
3 of 6
6
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
Cost or valuation
£
At 01 December 2022
133,425
At 30 November 2023
133,425
Amortisation
At 01 December 2022
133,424
At 30 November 2023
133,424
Net book value
At 30 November 2023
1
At 30 November 2022
1
Intangible assets are measured at cost.
3. Property, plant and equipment
Total
Plant and
Machinery
Land and
Buildings
£
£
£
Cost or
valuation
At 01 December 2022
347,294
167,294
180,000
At 30 November 2023
180,000
167,294
347,294
Provision for depreciation and impairment
At 01 December 2022
168,876
162,576
6,300
Charge for year
8,314
4,714
3,600
At 30 November 2023
177,190
167,290
9,900
At 30 November 2023
Net book value
170,100
4
170,104
At 30 November 2022
173,700
4,718
178,418
4. Inventories
2022
2023
£
£
Stocks
40,396
51,698
4 of 6
7
For the year ended 30 November 2023
Wade Optometry Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2022
2023
£
£
Trade debtors
4,107
4,788
Other debtors
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
Bank loans and overdraft
6,822
4,947
Trade creditors
30,242
41,523
Taxation and social security
725
5,653
Other creditors
12,176
18,673
62,612
83,203
7. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
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:
Payable by instalments
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.
5 of 6
8
For the year ended 30 November 2023
Wade Optometry Limited
Notes to the Financial Statements Continued
9. Directors advances and guarantees
At 01/12/2022
Loaned
Repaid
At 30/11/2023
£
£
£
£
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
Lease 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
Within 1 year
12,767
-
Within 2 to 5 years
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)
6 of 6