2023-04-012024-03-312024-03-31false04665227BRITTAIN OPTICIANS 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BRITTAIN OPTICIANS LIMITED

Registered Number
04665227
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

BRITTAIN OPTICIANS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Matthew Rose

Company Secretary

Matthew Rose

Registered Address

97 High Street
Harborne
Birmingham
B17 9NR

Registered Number

04665227 (England and Wales)
BRITTAIN OPTICIANS LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets467,39381,806
67,39381,806
Current assets
Stocks57,72753,019
Debtors43,39229,719
Cash at bank and on hand29,5769,057
130,69591,795
Creditors amounts falling due within one year(59,088)(53,475)
Net current assets (liabilities)71,60738,320
Total assets less current liabilities139,000120,126
Creditors amounts falling due after one year(35,240)(39,731)
Provisions for liabilities(4,892)(5,713)
Net assets98,86874,682
Capital and reserves
Called up share capital7777
Other reserves2323
Profit and loss account98,76874,582
Shareholders' funds98,86874,682
The financial statements were approved and authorised for issue by the Director on 24 September 2024, and are signed on its behalf by:
Matthew Rose
Director
Registered Company No. 04665227
BRITTAIN OPTICIANS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 5% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Bicycle - 20% straight line Fixtures and fittings - 15% reducing balance Motor vehicles - 10% straight line Equipment - 20% straight line
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year65
3.Intangible assets

Total

£
Cost or valuation
At 01 April 23161,600
At 31 March 24161,600
Amortisation and impairment
At 01 April 23161,600
At 31 March 24161,600
Net book value
At 31 March 24-
At 31 March 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23249,312
Additions843
At 31 March 24250,155
Depreciation and impairment
At 01 April 23167,506
Charge for year15,256
At 31 March 24182,762
Net book value
At 31 March 2467,393
At 31 March 2381,806