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Company Registration No. 12719152 (England and Wales)
Rae & Rae Opticians Ltd Unaudited accounts for the year ended 31 July 2024
Rae & Rae Opticians Ltd Unaudited accounts Contents
Page
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Rae & Rae Opticians Ltd Company Information for the year ended 31 July 2024
Directors
Tracey Rae Ian Rae Georgia Rae Charles Rae
Company Number
12719152 (England and Wales)
Registered Office
9 SYCAMORE TERRACE SYCAMORE TERRACE YORK YO30 7DN ENGLAND
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Rae & Rae Opticians Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
74,000 
80,500 
Tangible assets
11,268 
14,478 
85,268 
94,978 
Current assets
Inventories
59,269 
61,167 
Debtors
28,294 
18,206 
Cash at bank and in hand
36,243 
42,380 
123,806 
121,753 
Creditors: amounts falling due within one year
(116,317)
(131,546)
Net current assets/(liabilities)
7,489 
(9,793)
Total assets less current liabilities
92,757 
85,185 
Provisions for liabilities
Deferred tax
(1,106)
(2,172)
Net assets
91,651 
83,013 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
91,551 
82,913 
Shareholders' funds
91,651 
83,013 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by
Ian Rae Director Company Registration No. 12719152
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Rae & Rae Opticians Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Rae & Rae Opticians Ltd is a private company, limited by shares, registered in England and Wales, registration number 12719152. The registered office is 9 SYCAMORE TERRACE, SYCAMORE TERRACE, YORK, YO30 7DN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
100,000 
At 31 July 2024
100,000 
Amortisation
At 1 August 2023
19,500 
Charge for the year
6,500 
At 31 July 2024
26,000 
Net book value
At 31 July 2024
74,000 
At 31 July 2023
80,500 
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Rae & Rae Opticians Ltd Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
24,932 
2,454 
27,386 
At 31 July 2024
24,932 
2,454 
27,386 
Depreciation
At 1 August 2023
11,968 
940 
12,908 
Charge for the year
2,593 
617 
3,210 
At 31 July 2024
14,561 
1,557 
16,118 
Net book value
At 31 July 2024
10,371 
897 
11,268 
At 31 July 2023
12,964 
1,514 
14,478 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
8,345 
714 
Trade debtors
9,766 
4,868 
Accrued income and prepayments
8,458 
8,065 
Other debtors
1,725 
4,559 
28,294 
18,206 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
6,504 
6,504 
Trade creditors
13,052 
16,333 
Taxes and social security
9,373 
13,641 
Other creditors
251 
391 
Loans from directors
75,989 
90,692 
Accruals
11,148 
3,985 
116,317 
131,546 
8
Average number of employees
During the year the average number of employees was 8 (2023: 7).
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