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REGISTERED NUMBER: 07968903 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NICKLINS OPTICIANS LIMITED

NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

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


NICKLINS OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P J Davies
A Dodgson



REGISTERED OFFICE: The Galleries
Charters Road
Sunningdale
Berkshire
SL5 9QJ



REGISTERED NUMBER: 07968903 (England and Wales)



ACCOUNTANTS: Davis Burton Sellek
Chartered Accountants
The Galleries
Charters Road
Sunningdale
Berkshire
SL5 9QJ



BANKERS: Barclays Bank plc
Guildford Friary
Church Street East
Woking
Surrey
GU21 1AE

NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 24,595 25,032

CURRENT ASSETS
Stocks 15,674 19,211
Debtors 6 79,785 74,383
Cash at bank and in hand 29,881 33,841
125,340 127,435
CREDITORS
Amounts falling due within one year 7 122,204 129,273
NET CURRENT ASSETS/(LIABILITIES) 3,136 (1,838 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,731

23,194

CREDITORS
Amounts falling due after more than one
year

8

(10,127

)

(5,397

)

PROVISIONS FOR LIABILITIES (4,566 ) (4,626 )
NET ASSETS 13,038 13,171

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 12,677 12,677
Retained earnings 261 394
SHAREHOLDERS' FUNDS 13,038 13,171

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 directors acknowledge their 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.

NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

BALANCE SHEET - 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





A Dodgson - Director


NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Nicklins 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.

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.

Going concern
The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition
Revenue represents net invoiced sales of goods and services, excluding value added tax.

Revenue comprises of the sale of optical products and services, including eye tests, and is valued at a market rate. It is recognised when the product is collected, or the service is delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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

NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments
Equity instruments issued by the company are recorded at proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. 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.

Pension costs and other post-retirement benefits
The company contributes to 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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 52,355
Additions 4,147
At 31 March 2024 56,502
DEPRECIATION
At 1 April 2023 27,323
Charge for year 4,584
At 31 March 2024 31,907
NET BOOK VALUE
At 31 March 2024 24,595
At 31 March 2023 25,032

NICKLINS OPTICIANS LIMITED (REGISTERED NUMBER: 07968903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,890 497
Other debtors 75,895 73,886
79,785 74,383

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,917 6,784
Trade creditors 43,718 44,077
Taxation and social security 53,056 43,292
Other creditors 15,513 35,120
122,204 129,273

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,127 5,397

9. LEASING AGREEMENTS
Minimum lease payments over the remaining life of non-cancellable operating leases are £29,000 (2023 : £29,000).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
P J Davies
Balance outstanding at start of year (26,462 ) (39,713 )
Amounts advanced 99,955 104,251
Amounts repaid (80,712 ) (91,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,219 ) (26,462 )

A Dodgson
Balance outstanding at start of year 56,342 53,115
Amounts advanced 89,068 98,732
Amounts repaid (90,342 ) (95,505 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,068 56,342