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REGISTERED NUMBER: 05901392 (England and Wales)















CAERPHILLY OPTICIANS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


CAERPHILLY OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: A J Stevens
Mrs A Stevens





REGISTERED OFFICE: A and A Stevens Opticians
Unit B 2-4 Cardiff Road
Caerphilly
CF83 1JN





REGISTERED NUMBER: 05901392 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 27,500
Tangible assets 5 29,496 19,623
49,496 47,123

CURRENT ASSETS
Stocks 85,453 84,060
Debtors 6 19,238 11,561
Cash at bank and in hand 197,334 216,884
302,025 312,505
CREDITORS
Amounts falling due within one year 7 80,153 78,170
NET CURRENT ASSETS 221,872 234,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,368

281,458

PROVISIONS FOR LIABILITIES 10 6,406 3,632
NET ASSETS 264,962 277,826

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 264,862 277,726
264,962 277,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 25th September 2024 and were signed on its behalf by:





Mrs A Stevens - Director


CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Caerphilly Opticians Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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

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.

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

CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 150,000
AMORTISATION
At 1st January 2023 122,500
Charge for year 7,500
At 31st December 2023 130,000
NET BOOK VALUE
At 31st December 2023 20,000
At 31st December 2022 27,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 7,855 206,789 214,644
Additions - 15,077 15,077
At 31st December 2023 7,855 221,866 229,721
DEPRECIATION
At 1st January 2023 7,855 187,166 195,021
Charge for year - 5,204 5,204
At 31st December 2023 7,855 192,370 200,225
NET BOOK VALUE
At 31st December 2023 - 29,496 29,496
At 31st December 2022 - 19,623 19,623

CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,972 10,178
Other debtors 1,266 1,383
19,238 11,561

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,446 19,349
Taxation and social security 28,491 33,641
Other creditors 23,216 25,180
80,153 78,170

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 37,485 37,363
Between one and five years 2,750 5,735
40,235 43,098

9. SECURED DEBTS

Since April 2007, National Westminster Bank PLC has held a debenture including fixed and floating charges over all property and assets held by the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 6,406 2,347
Deferred tax - 1,285
6,406 3,632

Deferred
tax
£   
Balance at 1st January 2023 3,632
Provided during year 2,774
Balance at 31st December 2023 6,406

CAERPHILLY OPTICIANS LIMITED (REGISTERED NUMBER: 05901392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
A J Stevens
Balance outstanding at start of year (11,083 ) (4,884 )
Amounts advanced 1,442 33,801
Amounts repaid - (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,641 ) (11,083 )

Mrs A Stevens
Balance outstanding at start of year (10,450 ) (4,224 )
Amounts advanced 330 33,774
Amounts repaid - (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,120 ) (10,450 )

During the year, the directors shared dividends amounting to £97,500 (2022: £80,000).

The Directors' loan accounts have not had interest charged on them and are deemed to be repayable upon demand.

12. RELATED PARTY DISCLOSURES

The business premises is leased to the company by H&S Property, a business which the directors are partners. Annual rent charged for the 2023 year totals £34678 (2022: £33117).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors..