Kedoo Optical Limited 08532318 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is is that of an opticians practice Digita Accounts Production Advanced 6.30.9574.0 true true 08532318 2023-06-01 2024-05-31 08532318 2024-05-31 08532318 core:CurrentFinancialInstruments 2024-05-31 08532318 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08532318 core:Goodwill 2024-05-31 08532318 core:FurnitureFittingsToolsEquipment 2024-05-31 08532318 core:LandBuildings 2024-05-31 08532318 bus:SmallEntities 2023-06-01 2024-05-31 08532318 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08532318 bus:FilletedAccounts 2023-06-01 2024-05-31 08532318 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08532318 bus:RegisteredOffice 2023-06-01 2024-05-31 08532318 bus:Director2 2023-06-01 2024-05-31 08532318 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08532318 core:Goodwill 2023-06-01 2024-05-31 08532318 core:LicencesFranchises 2023-06-01 2024-05-31 08532318 core:FurnitureFittings 2023-06-01 2024-05-31 08532318 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 08532318 core:LandBuildings 2023-06-01 2024-05-31 08532318 core:OfficeEquipment 2023-06-01 2024-05-31 08532318 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 08532318 countries:EnglandWales 2023-06-01 2024-05-31 08532318 2023-05-31 08532318 core:Goodwill 2023-05-31 08532318 core:FurnitureFittingsToolsEquipment 2023-05-31 08532318 core:LandBuildings 2023-05-31 08532318 2022-06-01 2023-05-31 08532318 2023-05-31 08532318 core:CurrentFinancialInstruments 2023-05-31 08532318 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08532318 core:FurnitureFittingsToolsEquipment 2023-05-31 08532318 core:LandBuildings 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 08532318

Kedoo Optical Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Kedoo Optical Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Kedoo Optical Limited

(Registration number: 08532318)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

29,292

30,226

Current assets

 

Stocks

6

45,508

39,190

Debtors

7

19,844

17,969

Cash at bank and in hand

 

650,302

530,797

 

715,654

587,956

Creditors: Amounts falling due within one year

8

(336,810)

(291,401)

Net current assets

 

378,844

296,555

Total assets less current liabilities

 

408,136

326,781

Provisions for liabilities

(6,680)

(6,680)

Net assets

 

401,456

320,101

Capital and reserves

 

Called up share capital

100

100

Retained earnings

401,356

320,001

Shareholders' funds

 

401,456

320,101

 

Kedoo Optical Limited

(Registration number: 08532318)
Balance Sheet as at 31 May 2024

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

Director's responsibilities:

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

The director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 November 2024
 

.........................................
Mr D A M Kedoo
Director

 

Kedoo Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
99 High Street
Sittingbourne
Kent
ME10 4AJ
England

These financial statements were authorised for issue by the director on 11 November 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Kedoo Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Office equipment

20% Straight line

Fixtures and fittings

20% Straight line

Property improvement

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

Franchise

20% Straight line

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.

 

Kedoo Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 10).

 

Kedoo Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Franchise fee
£

Total
£

Cost or valuation

At 1 June 2023

11,211

11,211

At 31 May 2024

11,211

11,211

Amortisation

At 1 June 2023

11,211

11,211

At 31 May 2024

11,211

11,211

Carrying amount

At 31 May 2024

-

-

5

Tangible assets

Property improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

40,540

174,952

215,492

Additions

-

14,391

14,391

At 31 May 2024

40,540

189,343

229,883

Depreciation

At 1 June 2023

37,032

148,234

185,266

Charge for the year

3,508

11,817

15,325

At 31 May 2024

40,540

160,051

200,591

Carrying amount

At 31 May 2024

-

29,292

29,292

At 31 May 2023

3,508

26,718

30,226

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

45,508

39,190

 

Kedoo Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

7,319

9,187

Prepayments

12,525

8,782

 

19,844

17,969

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

87,334

51,372

Taxation and social security

62,762

48,946

Accruals and deferred income

15,501

20,712

Other creditors

171,213

170,371

336,810

291,401

A fixed charge was issued on the 16 January 2015 to National Westminster Bank PLC for the amount "A continuing security for the payment on demand of the Owner's Obligations and with full title guarantee assigns to the Bank all rights to the Policy and all money payable under the Policy"