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REGISTERED NUMBER: NI626113 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

HOLLEY OPTOMETRISTS LTD

HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


HOLLEY OPTOMETRISTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R Nicholl
Ms M Nicholl





REGISTERED OFFICE: 21 Main Street
Clogher
BT76 0AA





REGISTERED NUMBER: NI626113 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,833 4,033
Tangible assets 5 114,423 57,743
116,256 61,776

CURRENT ASSETS
Stocks 73,587 77,827
Debtors 6 406,845 329,325
Cash at bank 105,553 240,502
585,985 647,654
CREDITORS
Amounts falling due within one year 7 376,229 419,037
NET CURRENT ASSETS 209,756 228,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,012

290,393

CREDITORS
Amounts falling due after more than one
year

8

(86,623

)

(48,293

)

PROVISIONS FOR LIABILITIES (28,454 ) (10,830 )
NET ASSETS 210,935 231,270

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 210,835 231,170
210,935 231,270

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

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

HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

BALANCE SHEET - continued
31 OCTOBER 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 25 October 2024 and were signed on its behalf by:





R Nicholl - Director


HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Holley Optometrists Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Significant judgements and estimates
The directors do not consider there to be any estimates or judgements included in the financial statements.

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 is being amortised over 10 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 - 33% 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.

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Cash
Cash comprises cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial in which cases they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and the redemption value being recognised in the statement of income statement over the period of the borrowings, together with any interest and fees payable using the effective interst method.


HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

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


2. ACCOUNTING POLICIES - continued
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.

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 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 22,000
AMORTISATION
At 1 November 2022 17,967
Charge for year 2,200
At 31 October 2023 20,167
NET BOOK VALUE
At 31 October 2023 1,833
At 31 October 2022 4,033

HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 263,618
Additions 78,525
At 31 October 2023 342,143
DEPRECIATION
At 1 November 2022 205,875
Charge for year 21,845
At 31 October 2023 227,720
NET BOOK VALUE
At 31 October 2023 114,423
At 31 October 2022 57,743

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 78,068 58,913
Amounts owed by group undertakings 323,773 245,652
Amounts owed by associates - 20,315
Other debtors 5,004 4,445
406,845 329,325

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 15,744 8,680
Trade creditors 78,844 171,832
Amounts owed to associates 213,000 144,594
Taxation and social security 23,429 9,944
Other creditors 34,564 73,339
376,229 419,037

Amounts owed to related parties are interest free, unsecured and repayable on demand.

Hire purchase contracts are secured on the assets to which they relate.

HOLLEY OPTOMETRISTS LTD (REGISTERED NUMBER: NI626113)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 14,505 25,153
Hire purchase contracts 72,118 23,140
86,623 48,293