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REGISTERED NUMBER: SC451008 (Scotland)




















Anita Glasby Optometry Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






Anita Glasby Optometry Limited (Registered number: SC451008)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Anita Glasby Optometry Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Ms A R Glasby
Mr T Glasby



SECRETARY: Mrs J A Glasby



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC451008 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Santander
31 Hanover Street
Edinburgh
EH2 2EB

Anita Glasby Optometry Limited (Registered number: SC451008)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 236,822 82,917

CURRENT ASSETS
Stocks 16,058 20,385
Debtors 5 12,070 15,745
Cash at bank and in hand 30,498 55,645
58,626 91,775
CREDITORS
Amounts falling due within one year 6 33,524 20,587
NET CURRENT ASSETS 25,102 71,188
TOTAL ASSETS LESS CURRENT LIABILITIES 261,924 154,105

CREDITORS
Amounts falling due after more than one
year

7

(165,171

)

(65,529

)

PROVISIONS FOR LIABILITIES (13,201 ) (21,197 )
NET ASSETS 83,552 67,379

Anita Glasby Optometry Limited (Registered number: SC451008)

Balance Sheet - continued
31 May 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 83,452 67,279
SHAREHOLDERS' FUNDS 83,552 67,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2024 and were signed on its behalf by:




Ms A R Glasby - Director



Mr T Glasby - Director


Anita Glasby Optometry Limited (Registered number: SC451008)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Anita Glasby Optometry Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents the provision of optometry services. Revenue is recognised on the point of sale of goods or completion of service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on reducing balance
Plant and machinery etc - 33% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Anita Glasby Optometry Limited (Registered number: SC451008)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

Anita Glasby Optometry Limited (Registered number: SC451008)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 - 208,130 208,130
Additions 166,269 2,734 169,003
At 31 May 2024 166,269 210,864 377,133
DEPRECIATION
At 1 June 2023 - 125,213 125,213
Charge for year 1,325 13,773 15,098
At 31 May 2024 1,325 138,986 140,311
NET BOOK VALUE
At 31 May 2024 164,944 71,878 236,822
At 31 May 2023 - 82,917 82,917

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 78,600
DEPRECIATION
At 1 June 2023 7,860
Charge for year 7,860
At 31 May 2024 15,720
NET BOOK VALUE
At 31 May 2024 62,880
At 31 May 2023 70,740

Anita Glasby Optometry Limited (Registered number: SC451008)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,130 3,962
Other debtors 7,940 11,783
12,070 15,745

Included in other debtors is a balance due to a director. The balance is unsecured and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,247 -
Hire purchase contracts (see note 8) 11,173 11,075
Trade creditors 7,108 7,530
Taxation and social security 7,613 -
Other creditors 3,383 1,982
33,524 20,587

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 110,913 -
Hire purchase contracts (see note 8) 54,258 65,529
165,171 65,529

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 90,300 -

Anita Glasby Optometry Limited (Registered number: SC451008)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 11,173 11,075
Between one and five years 54,258 65,529
65,431 76,604

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 2,950

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 115,160 -

Bank loans are secured by way of a standard security charge in favour of The Royal Bank of Scotland over the company's property.

Anita Glasby Optometry Limited (Registered number: SC451008)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Ms A R Glasby
Balance outstanding at start of year - -
Amounts advanced 456 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 456 -

The director has undertaken to settle the balance within 9 months of the balance sheet date.