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REGISTERED NUMBER: SC532418 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Forde Opticians Ltd

Forde Opticians Ltd (Registered number: SC532418)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forde Opticians Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr F A Forde





REGISTERED OFFICE: Knightswood Shopping Centre
734 Anniesland Road
Glasgow
G14 0YU





REGISTERED NUMBER: SC532418 (Scotland)





ACCOUNTANTS: Greg Hannah Ltd
Chartered Accountants
26 Victoria Street
Rutherglen
Glasgow
G73 1DS

Forde Opticians Ltd (Registered number: SC532418)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 308,333 333,333
Tangible assets 6 123,801 128,941
432,134 462,274

CURRENT ASSETS
Stocks 52,000 48,399
Debtors 7 165,479 165,255
Cash at bank and in hand 34,941 40,481
252,420 254,135
CREDITORS
Amounts falling due within one year 8 121,998 114,927
NET CURRENT ASSETS 130,422 139,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,556

601,482

CREDITORS
Amounts falling due after more than one
year

9

(208,046

)

(248,174

)

PROVISIONS FOR LIABILITIES (3,450 ) (2,634 )
NET ASSETS 351,060 350,674

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 350,960 350,574
351,060 350,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Forde Opticians Ltd (Registered number: SC532418)

Balance Sheet - continued
30 April 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 24 January 2025 and were signed by:





Mr F A Forde - Director


Forde Opticians Ltd (Registered number: SC532418)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Forde Opticians Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from optical services supplied by the company.

Turnover is measured at the fair value of the optical services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost
Plant and machinery etc - 20% 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.

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.

Forde Opticians Ltd (Registered number: SC532418)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

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 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.

Going concern
The director believes that the company is maintaining good levels of profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 465,000 35,000 500,000
AMORTISATION
At 1 May 2023 155,000 11,667 166,667
Charge for year 23,250 1,750 25,000
At 30 April 2024 178,250 13,417 191,667
NET BOOK VALUE
At 30 April 2024 286,750 21,583 308,333
At 30 April 2023 310,000 23,333 333,333

Forde Opticians Ltd (Registered number: SC532418)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 150,000 37,564 187,564
Additions - 3,547 3,547
At 30 April 2024 150,000 41,111 191,111
DEPRECIATION
At 1 May 2023 35,000 23,623 58,623
Charge for year 5,000 3,687 8,687
At 30 April 2024 40,000 27,310 67,310
NET BOOK VALUE
At 30 April 2024 110,000 13,801 123,801
At 30 April 2023 115,000 13,941 128,941

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,089 29,587
Other debtors 137,390 135,668
165,479 165,255

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,019 59,019
Trade creditors 19,487 6,629
Taxation and social security 32,452 37,723
Other creditors 6,040 11,556
121,998 114,927

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 208,046 248,174

Forde Opticians Ltd (Registered number: SC532418)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 246,173 258,266

The bank loans are secured by a bond and floating charge over the assets and undertakings of the company.


The bounce back loan is supported by a 100% guarantee from the UK Government.

11. RELATED PARTY DISCLOSURES

At the 30th April 2024, the company owed Mr F Forde (Director) a sum of £94 (2023: £230). This loan is interest free and has no fixed repayment terms.

Forde Eyecare Limited
A company in which Mr F Forde is a director and shareholder.

At the 30th April 2024, Forde Eyecare Limited owed a sum of £125,010 (2023: £125,010) to Forde Opticians Ltd. This loan is interest free and has no fixed repayment terms.

During the year, the company sold goods to Forde Eyecare Limited which totalled £2,080 and purchased goods from Forde Opticians Limited which totalled £9,804. These transactions take place at market value.