Company registration number 03599887 (England and Wales)
J.J.J. OPTICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
J.J.J. OPTICAL LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
J.J.J. OPTICAL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
133,000
133,000
Tangible assets
4
77,464
78,039
Investment property
5
50,000
50,000
260,464
261,039
Current assets
Stocks
4,492
5,696
Debtors
6
1,264
1,883
Cash at bank and in hand
45
13,274
5,801
20,853
Creditors: amounts falling due within one year
7
(44,888)
(49,693)
Net current liabilities
(39,087)
(28,840)
Total assets less current liabilities
221,377
232,199
Creditors: amounts falling due after more than one year
8
(186,369)
(198,531)
Net assets
35,008
33,668
Capital and reserves
Called up share capital
100
100
Revaluation reserve
9
15,851
15,851
Profit and loss reserves
19,057
17,717
Total equity
35,008
33,668

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 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.

J.J.J. OPTICAL LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 September 2024 and are signed on its behalf by:
Mrs AM Hargreaves
Mr W Metcalfe
Director
Director
Company registration number 03599887 (England and Wales)
J.J.J. OPTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

J.J.J. Optical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cedar House, 3 Endican Lane, Thornton le Moor, Northallerton, DL7 9FB.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

The directors consider the value of goodwill at each year end and any permanent reduction in value is charged to the profit and loss account. This does not comply with FRS 102 but is necessary in order to give a true and fair view.

1.4
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:

Freehold land and buildings
no depreciation
Fixtures and fittings
25% reducing balance
Computers
33% straight line

No depreciation is provided on freehold land and buildings as the net book value is less than or equal to the open market value.

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 profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

J.J.J. OPTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
J.J.J. OPTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
158,000
Amortisation and impairment
At 1 January 2023 and 31 December 2023
25,000
Carrying amount
At 31 December 2023
133,000
At 31 December 2022
133,000
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost or valuation
At 1 January 2023
75,000
23,158
-
0
98,158
Additions
-
0
-
0
222
222
At 31 December 2023
75,000
23,158
222
98,380
Depreciation and impairment
At 1 January 2023
-
0
20,119
-
0
20,119
Depreciation charged in the year
-
0
760
37
797
At 31 December 2023
-
0
20,879
37
20,916
Carrying amount
At 31 December 2023
75,000
2,279
185
77,464
At 31 December 2022
75,000
3,039
-
0
78,039

Land and buildings with a carrying amount of £75,000 were revalued in November 2021 by Darlington Building Society, using independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

J.J.J. OPTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Tangible fixed assets
(Continued)
- 6 -
Land and buildings
2023
2022
£
£
Cost
59,149
59,149
Accumulated depreciation
(26,026)
(24,843)
Carrying value
33,123
34,306
5
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
50,000

Investment property comprises of one property. The fair value of the investment property has been arrived at on the basis of a valuation carried out in November 2021 by Darlington Building Society, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,264
1,883
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
13,475
11,946
Trade creditors
1,899
2,744
Corporation tax
906
651
Other taxation and social security
13,868
13,432
Other creditors
14,740
20,920
44,888
49,693
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
186,369
198,531
J.J.J. OPTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
8
Creditors: amounts falling due after more than one year
(Continued)
- 7 -
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable other than by instalments
(125,000)
(125,000)
9
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
15,851
15,851
2023-12-312023-01-01false04 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMrs A M HargreavesMr W MetcalfeMr W Metcalfefalsefalse035998872023-01-012023-12-31035998872023-12-31035998872022-12-3103599887core:NetGoodwill2023-12-3103599887core:NetGoodwill2022-12-3103599887core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3103599887core:FurnitureFittings2023-12-3103599887core:ComputerEquipment2023-12-3103599887core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3103599887core:FurnitureFittings2022-12-3103599887core:ComputerEquipment2022-12-3103599887core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103599887core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103599887core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103599887core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3103599887core:CurrentFinancialInstruments2023-12-3103599887core:CurrentFinancialInstruments2022-12-3103599887core:ShareCapital2023-12-3103599887core:ShareCapital2022-12-3103599887core:RevaluationReserve2023-12-3103599887core:RevaluationReserve2022-12-3103599887core:RetainedEarningsAccumulatedLosses2023-12-3103599887core:RetainedEarningsAccumulatedLosses2022-12-3103599887bus:Director12023-01-012023-12-3103599887bus:CompanySecretaryDirector12023-01-012023-12-3103599887core:Goodwill2023-01-012023-12-3103599887core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3103599887core:FurnitureFittings2023-01-012023-12-3103599887core:ComputerEquipment2023-01-012023-12-31035998872022-01-012022-12-3103599887core:NetGoodwill2022-12-3103599887core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3103599887core:FurnitureFittings2022-12-3103599887core:ComputerEquipment2022-12-31035998872022-12-3103599887core:Non-currentFinancialInstruments2023-12-3103599887core:Non-currentFinancialInstruments2022-12-3103599887bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103599887bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103599887bus:FRS1022023-01-012023-12-3103599887bus:AuditExemptWithAccountantsReport2023-01-012023-12-3103599887bus:Director22023-01-012023-12-3103599887bus:CompanySecretary12023-01-012023-12-3103599887bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP