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REGISTERED NUMBER: 04712078 (England and Wales)















Andrew Martin Optometrist Ltd

Financial Statements for the Year Ended 31 March 2024






Andrew Martin Optometrist Ltd (Registered number: 04712078)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Andrew Martin Optometrist Ltd (Registered number: 04712078)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,364 3,830
3,364 3,830

CURRENT ASSETS
Stocks 9,125 11,331
Debtors 6 29,440 23,596
Cash at bank 153,017 34,804
191,582 69,731
CREDITORS
Amounts falling due within one year 7 135,701 35,404
NET CURRENT ASSETS 55,881 34,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,245

38,157

CREDITORS
Amounts falling due after more than one year 8 (11,667 ) (21,667 )

PROVISIONS FOR LIABILITIES (639 ) (728 )
NET ASSETS 46,939 15,762

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 46,936 15,759
SHAREHOLDERS' FUNDS 46,939 15,762

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.

Andrew Martin Optometrist Ltd (Registered number: 04712078)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





A C Martin - Director


Andrew Martin Optometrist Ltd (Registered number: 04712078)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Andrew Martin Optometrist Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04712078

Registered office: 66 Boldmere Road
Boldmere
Sutton Coldfield
West Midlands
B73 5TJ

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.

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.

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 2003, is being amortised evenly over its estimated useful life of twenty 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.

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 etc - 25% on reducing balance and 15% 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.

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.


Andrew Martin Optometrist Ltd (Registered number: 04712078)

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.

Pension costs and other post-retirement benefits
The company operates 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 10,929
Additions 458
At 31 March 2024 11,387
DEPRECIATION
At 1 April 2023 7,099
Charge for year 924
At 31 March 2024 8,023
NET BOOK VALUE
At 31 March 2024 3,364
At 31 March 2023 3,830

Andrew Martin Optometrist Ltd (Registered number: 04712078)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by associates 25,965 17,256
Other debtors 3,475 6,340
29,440 23,596

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 60,400 10,000
Trade creditors 10,261 8,293
Taxation and social security 11,731 4,172
Other creditors 53,309 12,939
135,701 35,404

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,667 21,667

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the directors loan account was £50,245 in credit (2023: £9,197 in credit)

10. RELATED PARTY DISCLOSURES

During the year Mrs L C Martin owned a business, Andrew Martin & Associates Limited, to whom a management recharge of expenses amounting to £30,758 representing purchases, wages, and telephone, was invoiced under normal commercial terms. At the balance sheet date £25,965 was outstanding on the inter company account and this is included in other debtors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is A C Martin.