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C.R. Turner (Opticians) Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03747465
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 13,153 16,441
13,153 16,441
CURRENT ASSETS
Stocks 6 5,250 5,250
Debtors 7 - 486
Cash at bank and in hand 79,003 121,970
84,253 127,706
Creditors: Amounts Falling Due Within One Year 8 (9,159 ) (24,880 )
NET CURRENT ASSETS (LIABILITIES) 75,094 102,826
TOTAL ASSETS LESS CURRENT LIABILITIES 88,247 119,267
NET ASSETS 88,247 119,267
CAPITAL AND RESERVES
Called up share capital 9 39,850 39,850
Profit and Loss Account 48,397 79,417
SHAREHOLDERS' FUNDS 88,247 119,267
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Bernard Sammons
Director
3rd May 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
C.R. Turner (Opticians) Limited Registered number 03747465 is a limited by shares company incorporated in England & Wales. The Registered Office is 11 High Street, Uxbridge, Middlesex, UB8 1JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance basis
Fixtures & Fittings 15% reducing balance basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 132,500
As at 31 March 2024 132,500
Amortisation
As at 1 April 2023 132,500
As at 31 March 2024 132,500
...CONTINUED
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Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 71,904 22,954 94,858
As at 31 March 2024 71,904 22,954 94,858
Depreciation
As at 1 April 2023 55,463 22,954 78,417
Provided during the period 3,288 - 3,288
As at 31 March 2024 58,751 22,954 81,705
Net Book Value
As at 31 March 2024 13,153 - 13,153
As at 1 April 2023 16,441 - 16,441
6. Stocks
2024 2023
£ £
Stock 5,250 5,250
7. Debtors
2024 2023
£ £
Due within one year
VAT - 486
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,605 10,855
Bank loans and overdrafts - 58
Corporation tax 1,436 10,866
Other taxes and social security - 806
VAT 9 -
Accruals and deferred income 2,090 2,090
Director's loan account 19 205
9,159 24,880
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 39,850 39,850
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10. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 5