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REGISTERED NUMBER: SC730897 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Forde Eyecare Ltd

Forde Eyecare Ltd (Registered number: SC730897)






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 Eyecare Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr F A Forde





REGISTERED OFFICE: Govan Shopping Centre
795 Govan Road
Glasgow
G51 3JW





REGISTERED NUMBER: SC730897 (Scotland)





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

Forde Eyecare Ltd (Registered number: SC730897)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 301,500 318,250
Tangible assets 6 9,000 12,000
310,500 330,250

CURRENT ASSETS
Stocks 23,924 25,682
Debtors 7 21,573 30,836
Cash at bank and in hand 27,057 29,164
72,554 85,682
CREDITORS
Amounts falling due within one year 8 196,930 238,235
NET CURRENT LIABILITIES (124,376 ) (152,553 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,124

177,697

CREDITORS
Amounts falling due after more than one
year

9

(149,013

)

(172,252

)

PROVISIONS FOR LIABILITIES (2,250 ) (2,280 )
NET ASSETS 34,861 3,165

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 34,761 3,065
34,861 3,165

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 Eyecare Ltd (Registered number: SC730897)

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 Eyecare Ltd (Registered number: SC730897)

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

1. STATUTORY INFORMATION

Forde Eyecare 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 2022, 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 - 20% on cost

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.


Forde Eyecare Ltd (Registered number: SC730897)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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 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 has achieved a good level 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 8 (2023 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 335,000
AMORTISATION
At 1 May 2023 16,750
Charge for year 16,750
At 30 April 2024 33,500
NET BOOK VALUE
At 30 April 2024 301,500
At 30 April 2023 318,250

Forde Eyecare Ltd (Registered number: SC730897)

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

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 15,000
DEPRECIATION
At 1 May 2023 3,000
Charge for year 3,000
At 30 April 2024 6,000
NET BOOK VALUE
At 30 April 2024 9,000
At 30 April 2023 12,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,054 15,539
Other debtors 7,519 15,297
21,573 30,836

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,093 20,000
Trade creditors 10,124 8,093
Taxation and social security 14,754 7,283
Other creditors 142,959 202,859
196,930 238,235

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 149,013 172,252

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 178,106 192,252

The bank loan is secured by a floating charge over the assets and undertakings of the company.

Forde Eyecare Ltd (Registered number: SC730897)

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

11. RELATED PARTY DISCLOSURES

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

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

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

At the 30th April 2024, the company owed Mr D Forde and Mrs L Forde a sum of £14,774 (2023: £74,774). This amount is due repaid with 12 months of the year end.