The Whipton Eye Centre Limited 14711604 false 2023-03-07 2024-03-31 2024-03-31 The principal activity of the company is is that of an opticians Digita Accounts Production Advanced 6.30.9574.0 true 14711604 2023-03-07 2024-03-31 14711604 2024-03-31 14711604 core:RetainedEarningsAccumulatedLosses 2024-03-31 14711604 core:ShareCapital 2024-03-31 14711604 core:CurrentFinancialInstruments 2024-03-31 14711604 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14711604 core:Goodwill 2024-03-31 14711604 core:FurnitureFittingsToolsEquipment 2024-03-31 14711604 1 2024-03-31 14711604 bus:SmallEntities 2023-03-07 2024-03-31 14711604 bus:AuditExemptWithAccountantsReport 2023-03-07 2024-03-31 14711604 bus:FullAccounts 2023-03-07 2024-03-31 14711604 bus:SmallCompaniesRegimeForAccounts 2023-03-07 2024-03-31 14711604 bus:RegisteredOffice 2023-03-07 2024-03-31 14711604 bus:Director1 2023-03-07 2024-03-31 14711604 bus:Director2 2023-03-07 2024-03-31 14711604 bus:PrivateLimitedCompanyLtd 2023-03-07 2024-03-31 14711604 core:Goodwill 2023-03-07 2024-03-31 14711604 core:FurnitureFittingsToolsEquipment 2023-03-07 2024-03-31 14711604 countries:EnglandWales 2023-03-07 2024-03-31 14711604 1 2023-03-07 2024-03-31 14711604 1 2023-03-06 iso4217:GBP xbrli:pure

Registration number: 14711604

The Whipton Eye Centre Limited

trading as Whipton Eye Centre

Filleted Unaudited Financial Statements

for the Period from 7 March 2023 to 31 March 2024

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Company Information

Directors

P J Nichols

J M Nichols

Registered office

Thompson Jenner
1 Colleton Crescent
Exeter
EX2 4DG

Accountants

Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

8,000

Tangible assets

5

10,723

 

18,723

Current assets

 

Stocks

6

6,000

Debtors

7

10,443

Cash at bank and in hand

 

9,631

 

26,074

Creditors: Amounts falling due within one year

8

(17,801)

Net current assets

 

8,273

Net assets

 

26,996

Capital and reserves

 

Called up share capital

100

Profit and loss account

26,896

Total equity

 

26,996

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
P J Nichols
Director

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Notes to the Unaudited Financial Statements for the Period from 7 March 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thompson Jenner
1 Colleton Crescent
Exeter
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Notes to the Unaudited Financial Statements for the Period from 7 March 2023 to 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Notes to the Unaudited Financial Statements for the Period from 7 March 2023 to 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Notes to the Unaudited Financial Statements for the Period from 7 March 2023 to 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

10,000

10,000

At 31 March 2024

10,000

10,000

Amortisation

Amortisation charge

2,000

2,000

At 31 March 2024

2,000

2,000

Carrying amount

At 31 March 2024

8,000

8,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

13,404

13,404

At 31 March 2024

13,404

13,404

Depreciation

Charge for the period

2,681

2,681

At 31 March 2024

2,681

2,681

Carrying amount

At 31 March 2024

10,723

10,723

6

Stocks

2024
£

Other stocks

6,000

 

The Whipton Eye Centre Limitedtrading as Whipton Eye Centre
(Registration number: 14711604)

Notes to the Unaudited Financial Statements for the Period from 7 March 2023 to 31 March 2024

7

Debtors

2024
£

Trade debtors

1,245

Other debtors

8,587

Prepayments and accrued income

611

Total current trade and other debtors

10,443

8

Creditors

2024
£

Due within one year

Trade creditors

8,390

Taxation and social security

7,310

Other creditors

101

Accrued expenses

2,000

17,801

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £21,000.

10

Related party transactions

Transactions with directors

2024

At 7 March 2023
£

Advances to director
£

At 31 March 2024
£

Director 1 - Interest free unsecured loan repayable on demand

-

5,325

5,325