Company registration number 07926636 (England and Wales)
ZABIR ALI OPTICAL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ZABIR ALI OPTICAL LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
ZABIR ALI OPTICAL LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
25,545
30,650
Current assets
Stocks
63,552
50,177
Debtors
5
346,955
247,622
Cash at bank and in hand
7,275
50
417,782
297,849
Creditors: amounts falling due within one year
6
(300,454)
(229,269)
Net current assets
117,328
68,580
Total assets less current liabilities
142,873
99,230
Creditors: amounts falling due after more than one year
7
(27,000)
(49,003)
Net assets
115,873
50,227
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
115,872
50,226
Total equity
115,873
50,227

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

The financial statements were approved and signed by the director and authorised for issue on 13 September 2024
Mr Z  Ali
Director
Company registration number 07926636 (England and Wales)
ZABIR ALI OPTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Zabir Ali Optical Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 West Borough, Wimborne, East Dorset, BH21 1NF.

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.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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Franchise fee
20% straight line
1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, 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:

Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line
ZABIR ALI OPTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
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 profit and loss account 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.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ZABIR ALI OPTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

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

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

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

2023
2022
Number
Number
Total
12
19
3
Intangible fixed assets
Franchise fee
£
Cost
At 1 December 2022 and 30 November 2023
60,000
Amortisation and impairment
At 1 December 2022 and 30 November 2023
60,000
Carrying amount
At 30 November 2023
-
0
At 30 November 2022
-
0
ZABIR ALI OPTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 December 2022
145,733
227,822
24,439
397,994
Additions
-
0
-
0
12,499
12,499
At 30 November 2023
145,733
227,822
36,938
410,493
Depreciation and impairment
At 1 December 2022
130,765
221,233
15,346
367,344
Depreciation charged in the year
7,898
3,212
6,494
17,604
At 30 November 2023
138,663
224,445
21,840
384,948
Carrying amount
At 30 November 2023
7,070
3,377
15,098
25,545
At 30 November 2022
14,968
6,589
9,093
30,650
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
19,353
18,413
Other debtors
327,602
229,209
346,955
247,622
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,000
26,294
Trade creditors
105,984
75,133
Corporation tax
84,886
59,752
Other taxation and social security
6,665
8,815
Other creditors
84,919
59,275
300,454
229,269
ZABIR ALI OPTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
27,000
45,000
Other creditors
-
0
4,003
27,000
49,003
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
27,705
-
0
9
Related party transactions

The company has an existing loan with Romsey Optical Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £89,811 (2022: £54,878) was outstanding being included in debtors: amounts falling due within one year.

 

During the year the company received a loan from Lymington Optical Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £43,924 (2022: £nil) was outstanding being included in creditors: amounts falling due within one year.

 

The company has an existing loan with Wimborne Optical Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £14,223 (2022: £6,936) was outstanding being included in debtors (2022: creditors): amounts falling due within one year.

 

The company has an existing loan with CGW Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £24,592 (2022: £42,950) was outstanding being included in debtors: amounts falling due within one year.

 

The company has an existing loan with Wessex Wellbeing Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £16,000 (2022: £36,000) was outstanding being included in debtors: amounts falling due within one year.

 

The company has an existing loan with Wessex Optical Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £87,750 (2022: £11,947) was outstanding being included in debtors: amounts falling due within one year.

 

The company has an existing loan with Weymouth Optical Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of 78,822 (2022: £72,224) was outstanding being included in debtors: amounts falling due within one year.

 

During the year the company mad a loan to Uttoxeter Optical Limited, a company in which Mr Zabir Ali is a director. At the year end, a balance of £1,993 (2022: £nil) was outstanding being included in debtors: amounts falling due within one year.

ZABIR ALI OPTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
10
Directors' transactions

Dividends totalling £0 (2022 - £90,000) were paid in the year in respect of shares held by the company's directors.

2023-11-302022-12-01false13 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr Z Alifalsefalse079266362022-12-012023-11-30079266362023-11-30079266362022-11-3007926636core:PlantMachinery2023-11-3007926636core:FurnitureFittings2023-11-3007926636core:ComputerEquipment2023-11-3007926636core:PlantMachinery2022-11-3007926636core:FurnitureFittings2022-11-3007926636core:ComputerEquipment2022-11-3007926636core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3007926636core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3007926636core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3007926636core:Non-currentFinancialInstrumentscore:AfterOneYear2022-11-3007926636core:CurrentFinancialInstruments2023-11-3007926636core:CurrentFinancialInstruments2022-11-3007926636core:Non-currentFinancialInstruments2023-11-3007926636core:Non-currentFinancialInstruments2022-11-3007926636core:ShareCapital2023-11-3007926636core:ShareCapital2022-11-3007926636core:RetainedEarningsAccumulatedLosses2023-11-3007926636core:RetainedEarningsAccumulatedLosses2022-11-3007926636bus:Director12022-12-012023-11-3007926636core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3007926636core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-012023-11-3007926636core:PlantMachinery2022-12-012023-11-3007926636core:FurnitureFittings2022-12-012023-11-3007926636core:ComputerEquipment2022-12-012023-11-30079266362021-12-012022-11-3007926636core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-11-3007926636core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-11-3007926636core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-11-3007926636core:PlantMachinery2022-11-3007926636core:FurnitureFittings2022-11-3007926636core:ComputerEquipment2022-11-30079266362022-11-3007926636core:WithinOneYear2023-11-3007926636core:WithinOneYear2022-11-3007926636bus:PrivateLimitedCompanyLtd2022-12-012023-11-3007926636bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3007926636bus:FRS1022022-12-012023-11-3007926636bus:AuditExemptWithAccountantsReport2022-12-012023-11-3007926636bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP