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REGISTERED NUMBER: SC330656 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

H A OPTICAL LTD

H A OPTICAL LTD (REGISTERED NUMBER: SC330656)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H A OPTICAL LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S M Shafiq





SECRETARY: S Shafiq





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC330656 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

H A OPTICAL LTD (REGISTERED NUMBER: SC330656)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,641 18,085
Tangible assets 5 11,164 13,279
21,805 31,364

CURRENT ASSETS
Stocks 21,639 21,300
Debtors 6 125,940 96,328
Cash at bank and in hand 1,084 3,828
148,663 121,456
CREDITORS
Amounts falling due within one year 7 125,539 60,165
NET CURRENT ASSETS 23,124 61,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,929

92,655

CREDITORS
Amounts falling due after more than one
year

8

(42,237

)

(64,463

)

PROVISIONS FOR LIABILITIES (2,121 ) (3,319 )
NET ASSETS 571 24,873

H A OPTICAL LTD (REGISTERED NUMBER: SC330656)

Balance Sheet - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 561 24,863
SHAREHOLDERS' FUNDS 571 24,873

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.

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 director and authorised for issue on 6 November 2024 and were signed by:





S M Shafiq - Director


H A OPTICAL LTD (REGISTERED NUMBER: SC330656)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

H A Optical Ltd is a private company, limited by shares , registered in Scotland. 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.

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, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five 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.

Lease premium is being amortised evenly over its estimated useful life of nine years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on a reducing balance basis
Computer equipment - 33% on a straight line basis

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.


H A OPTICAL LTD (REGISTERED NUMBER: SC330656)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Lease
Goodwill premium Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 25,000 21,000 46,000
AMORTISATION
At 1 April 2023 18,750 9,165 27,915
Amortisation for year 5,000 2,444 7,444
At 31 March 2024 23,750 11,609 35,359
NET BOOK VALUE
At 31 March 2024 1,250 9,391 10,641
At 31 March 2023 6,250 11,835 18,085

H A OPTICAL LTD (REGISTERED NUMBER: SC330656)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 37,262 21,134 58,396
DEPRECIATION
At 1 April 2023 24,857 20,260 45,117
Charge for year 1,241 874 2,115
At 31 March 2024 26,098 21,134 47,232
NET BOOK VALUE
At 31 March 2024 11,164 - 11,164
At 31 March 2023 12,405 874 13,279

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,980 22,658
Other debtors 103,960 73,670
125,940 96,328

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,945 8,940
Trade creditors 20,101 25,814
Taxation and social security 10,697 883
Other creditors 85,796 24,528
125,539 60,165

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 9,860 19,925
Other creditors 32,377 44,538
42,237 64,463

H A OPTICAL LTD (REGISTERED NUMBER: SC330656)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 7,499 7,499
Between one and five years 16,247 23,746
23,746 31,245

10. RELATED PARTY DISCLOSURES

At 31 March 2024, the company was owed £97,495 (2023: £60,794) by companies under common directorship.

At 31 March 2024, the company owed £57,215 (2023: £6,810 to companies under common directorship.