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REGISTERED NUMBER: 00239599 (England and Wales)














BROWN AND WHITE (OPTICIANS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BROWN AND WHITE (OPTICIANS) LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: M F White





REGISTERED OFFICE: 5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 00239599 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 9,800 20,552
Tangible assets 6 328,843 279,456
Investments 7 1,300 1,300
339,943 301,308

CURRENT ASSETS
Stocks 93,460 92,530
Debtors 8 55,951 38,857
Cash at bank 419,493 389,765
568,904 521,152
CREDITORS
Amounts falling due within one year 9 259,709 199,705
NET CURRENT ASSETS 309,195 321,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,138

622,755

CREDITORS
Amounts falling due after more than one
year

10

(1,300

)

(1,300

)

PROVISIONS FOR LIABILITIES (79,899 ) (66,396 )
NET ASSETS 567,939 555,059

CAPITAL AND RESERVES
Called up, paid and allotted share capital 500 500
Capital redemption reserve 500 500
Retained earnings 566,939 554,059
SHAREHOLDERS' FUNDS 567,939 555,059

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





M F White - Director


BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Brown & White (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, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Income recognition
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business during the year ended 2016, is being amortised evenly over its estimated useful life of nine years.

Goodwill, being the amount paid in connection with the acquisition of a business during the year ended 2017, is being amortised evenly over its estimated useful life of ten years.

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.
Short leasehold - 10% on cost
Apparatus - 15% reducing balance and over 8 years
Equipment, fixtures & fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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


BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 101,700
AMORTISATION
At 1 April 2023 81,148
Amortisation for year 10,752
At 31 March 2024 91,900
NET BOOK VALUE
At 31 March 2024 9,800
At 31 March 2023 20,552

BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Equipment,
Short fixtures Computer
leasehold Apparatus & fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 119,859 657,975 408,010 36,218 1,222,062
Additions - 111,369 7,299 4,375 123,043
Disposals - - - (5,574 ) (5,574 )
At 31 March 2024 119,859 769,344 415,309 35,019 1,339,531
DEPRECIATION
At 1 April 2023 105,986 459,507 344,233 32,880 942,606
Charge for year 4,624 54,709 10,664 3,659 73,656
Eliminated on disposal - - - (5,574 ) (5,574 )
At 31 March 2024 110,610 514,216 354,897 30,965 1,010,688
NET BOOK VALUE
At 31 March 2024 9,249 255,128 60,412 4,054 328,843
At 31 March 2023 13,873 198,468 63,777 3,338 279,456

7. FIXED ASSET INVESTMENTS
Subsidiaries
£   
COST
At 1 April 2023
and 31 March 2024 93,501
PROVISIONS
At 1 April 2023
and 31 March 2024 92,201
NET BOOK VALUE
At 31 March 2024 1,300
At 31 March 2023 1,300

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,240 29,882
Other debtors 25,711 8,975
55,951 38,857

BROWN AND WHITE (OPTICIANS) LIMITED (REGISTERED NUMBER: 00239599)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 173,575 58,745
Taxation and social security 7,381 47,164
Other creditors 78,753 93,796
259,709 199,705

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,300 1,300

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 75,188 70,250
Between one and five years 164,000 164,000
In more than five years 77,000 118,000
316,188 352,250

12. RELATED PARTY DISCLOSURES

The director operates a loan account with the company. During the year, loans in aggregate of £20,564 were repaid by the company. At the year end the director was owed £31,839.