Registered number
01193230
Moorhouse Opticians (Northern) Limited
Unaudited Filleted Accounts
30 April 2024
Moorhouse Opticians (Northern) Limited
Registered number: 01193230
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 458,992 491,082
Current assets
Stocks 16,747 15,757
Debtors 4 29,839 20,165
Cash at bank and in hand 191 5,779
46,777 41,701
Creditors: amounts falling due within one year 5 (42,250) (56,547)
Net current assets/(liabilities) 4,527 (14,846)
Total assets less current liabilities 463,519 476,236
Creditors: amounts falling due after more than one year 6 (28,395) (35,001)
Net assets 435,124 441,235
Capital and reserves
Called up share capital 21,500 21,500
Revaluation reserve 7 86,241 116,844
Profit and loss account 327,383 302,891
Shareholders' funds 435,124 441,235
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Putrell
Director
Approved by the board on 18 December 2024
Moorhouse Opticians (Northern) Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings NIL
Plant and machinery 15% Reducing balance
Fixtures, fittings, tools and equipment 15% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate. The Conpany also operates a final salary scheme, contributions to which are based on acturial advise and charges to P & L accounts so as to spread the cost over the service lived of employees in the scheme.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 480,603 397,808 878,411
Reduction on revaluation (30,602) - (30,602)
At 30 April 2024 450,001 397,808 847,809
Depreciation
At 1 May 2023 - 387,329 387,329
Charge for the year - 1,488 1,488
At 30 April 2024 - 388,817 388,817
Net book value
At 30 April 2024 450,001 8,991 458,992
At 30 April 2023 480,603 10,479 491,082
The Company's freehold premises were revalued in 2023 by a local FRICS valuer.
4 Debtors 2024 2023
£ £
Trade debtors 7,569 527
Prepayments 667 667
VAT Control account 11,603 8,971
Other debtors 10,000 10,000
29,839 20,165
5 Creditors: amounts falling due within one year 2024 2023
£ £
Wage Control account - 1,700
PAYE Control account 983 2,060
Pension control account 1,839 2,971
Bank loans and overdrafts 13,069 14,030
Trade creditors 26,359 35,786
42,250 56,547
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bounce Back loan 28,395 35,001
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 116,844 116,844
reduction on revaluation of land and buildings (30,603) -
At 30 April 2024 86,241 116,844
8 Other information
Moorhouse Opticians (Northern) Limited is a private company limited by shares and incorporated in England. Its registered office is:
103 Carlton Street
Castleford
West Yorkshire
WF10 1DX
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