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REGISTERED NUMBER: 06046519 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FERNANDES OPTOMETRISTS (NAILSEA) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: G M J Fernandes
L E Fernandes





SECRETARY: L E Fernandes





REGISTERED OFFICE: 6 Windsor Road
St. Andrews
Bristol
BS6 5BP





REGISTERED NUMBER: 06046519 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 272,318 193,156
272,318 193,156

CURRENT ASSETS
Stocks 32,667 45,126
Debtors 6 211,810 219,245
Cash at bank and in hand 91,852 69,620
336,329 333,991
CREDITORS
Amounts falling due within one year 7 283,116 265,884
NET CURRENT ASSETS 53,213 68,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,531

261,263

CREDITORS
Amounts falling due after more than
one year

8

(74,131

)

(126,970

)

PROVISIONS FOR LIABILITIES (78,698 ) (47,374 )
NET ASSETS 172,702 86,919

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 172,602 86,819
SHAREHOLDERS' FUNDS 172,702 86,919

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

BALANCE SHEET - continued
31 JANUARY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 24 October 2024 and were signed on its behalf by:




G M J Fernandes - Director



L E Fernandes - Director


FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Fernandes Optometrists (Nailsea) 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.

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 paid in connection with the acquisition of businesses in 2007, 2011 and 2014 has all been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Long leasehold - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

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.


FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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.

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 23 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 490,668
AMORTISATION
At 1 February 2023
and 31 January 2024 490,668
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 February 2023 1 99,029 236,864
Additions - - 44,187
At 31 January 2024 1 99,029 281,051
DEPRECIATION
At 1 February 2023 - 99,029 132,141
Charge for year - - 29,781
At 31 January 2024 - 99,029 161,922
NET BOOK VALUE
At 31 January 2024 1 - 119,129
At 31 January 2023 1 - 104,723

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 211,274 49,829 37,625 634,622
Additions 103,490 - 2,323 150,000
At 31 January 2024 314,764 49,829 39,948 784,622
DEPRECIATION
At 1 February 2023 170,100 12,585 27,611 441,466
Charge for year 28,932 7,449 4,676 70,838
At 31 January 2024 199,032 20,034 32,287 512,304
NET BOOK VALUE
At 31 January 2024 115,732 29,795 7,661 272,318
At 31 January 2023 41,174 37,244 10,014 193,156

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 - 49,829 49,829
Additions 44,187 - 44,187
Reclassification/transfer 42,150 - 42,150
At 31 January 2024 86,337 49,829 136,166
DEPRECIATION
At 1 February 2023 - 12,585 12,585
Charge for year 17,267 7,449 24,716
At 31 January 2024 17,267 20,034 37,301
NET BOOK VALUE
At 31 January 2024 69,070 29,795 98,865
At 31 January 2023 - 37,244 37,244

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 6,898 5,673
Amounts owed by group undertakings 196,946 198,301
Other debtors 7,966 15,271
211,810 219,245

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 25,162 24,910
Hire purchase contracts and finance leases (see note 9)
24,678

22,850
Trade creditors 138,927 146,550
Taxation and social security 62,967 45,031
Other creditors 31,382 26,543
283,116 265,884

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 32,120 58,763
Hire purchase contracts and finance leases (see note 9)
42,011

68,207
74,131 126,970

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
31.1.24 31.1.23 31.1.24 31.1.23
£    £    £    £   
Net obligations repayable:
Within one year 16,812 22,850 7,866 -
Between one and five years 16,902 68,207 25,109 -
33,714 91,057 32,975 -

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 12,771 12,771
Between one and five years 38,313 51,084
51,084 63,855

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 57,282 83,673
Hire purchase contracts and finance leases 66,689 91,057
123,971 174,730

Bank loans are secured with fixed and floating charges over the company's assets.

Finance leases are secured on the asset to which they relate.

FERNANDES OPTOMETRISTS (NAILSEA) LIMITED (REGISTERED NUMBER: 06046519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.