Company registration number 07088265 (England and Wales)
LEE AND BENTLEY EYE PRACTICE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LEE AND BENTLEY EYE PRACTICE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LEE AND BENTLEY EYE PRACTICE LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
147,721
50,479
Investments
-
0
50
147,721
50,529
Current assets
Debtors
5
169,734
402,538
Cash at bank and in hand
604,487
343,845
774,221
746,383
Creditors: amounts falling due within one year
6
(110,937)
(17,470)
Net current assets
663,284
728,913
Net assets
811,005
779,442
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
810,905
779,342
Total equity
811,005
779,442

The directors of the company have 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 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.

The financial statements were approved by the board of directors and authorised for issue on 15 September 2024 and are signed on its behalf by:
V Lee
Director
Company registration number 07088265 (England and Wales)
LEE AND BENTLEY EYE PRACTICE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Lee and Bentley Eye Practice Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

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 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.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 2 years.

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:

Plant and equipment
25% Reducing balance
Fixtures and fittings
25% Reducing balance
Computers
25% Reducing balance
Motor vehicles
25% Reducing balance

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
Fixed asset investments

Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

LEE AND BENTLEY EYE PRACTICE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

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

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.

2
Employees

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

2023
2022
Number
Number
Total
5
5
LEE AND BENTLEY EYE PRACTICE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2022
148,000
Disposals
(148,000)
At 30 November 2023
-
0
Amortisation and impairment
At 1 December 2022
148,000
Disposals
(148,000)
At 30 November 2023
-
0
Carrying amount
At 30 November 2023
-
0
At 30 November 2022
-
0
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2022
19,006
34,030
21,735
49,997
124,768
Additions
45,257
-
0
706
87,917
133,880
At 30 November 2023
64,263
34,030
22,441
137,914
258,648
Depreciation and impairment
At 1 December 2022
14,009
29,882
17,899
12,499
74,289
Depreciation charged in the year
3,250
1,037
997
31,354
36,638
At 30 November 2023
17,259
30,919
18,896
43,853
110,927
Carrying amount
At 30 November 2023
47,004
3,111
3,545
94,061
147,721
At 30 November 2022
4,997
4,148
3,836
37,498
50,479
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
167,065
148,849
Other debtors
2,669
253,689
169,734
402,538
LEE AND BENTLEY EYE PRACTICE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
26,461
13,074
Other taxation and social security
1,708
(1,560)
Other creditors
82,768
5,956
110,937
17,470
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
8
Related party transactions

Included within other creditors due within one year at the balance sheet date is an amount of £66,245 (2022: £680) owed to the directors.

 

Included within other debtors due within one year at the balance sheet date is an amount of £nil (2022: £253,689) due from Bonview Property Limited, a company in which C Bentley and V Lee are directors.

9
Prior period adjustment
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Reconciliation of changes in profit for the previous financial period
2022
£
Total adjustments
-
Profit as previously reported
88,905
Profit as adjusted
88,905
Notes to reconciliation

A prior year adjustment has been made in respect of investments and other debtors. In prior year accounts investments were overstated and other debtors were understated.

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