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Registration number: 11998976

Diopter Eye Clinic Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Diopter Eye Clinic Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Diopter Eye Clinic Ltd

Company Information

Directors

Mrs T S Chokshi

Mr A B Chokshi

Registered office

112 Wandsworth Bridge Road
London
SW6 2TF

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Croydon
Surrey
CR0 3HA

 

Diopter Eye Clinic Ltd

(Registration number: 11998976)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

17,831

18,958

Tangible assets

5

175,656

144,275

 

193,487

163,233

Current assets

 

Stocks

62,874

55,336

Debtors

6

49,038

49,768

Cash at bank and in hand

 

52,060

102,292

 

163,972

207,396

Creditors: Amounts falling due within one year

7

(107,700)

(142,287)

Net current assets

 

56,272

65,109

Total assets less current liabilities

 

249,759

228,342

Creditors: Amounts falling due after more than one year

7

(87,542)

(81,921)

Provisions for liabilities

(33,206)

(37,937)

Net assets

 

129,011

108,484

Capital and reserves

 

Called up share capital

100

100

Profit and Loss Accounts

128,911

108,384

Shareholders' funds

 

129,011

108,484

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
 

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr A B Chokshi
Director

 

Diopter Eye Clinic Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
112 Wandsworth Bridge Road
London
SW6 2TF
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Pound Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Diopter Eye Clinic Ltd

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

Over the useful life of lease

Furniture and fittings

10% straight line method

Office equipment

25% straight line method

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised as an asset on the balance sheet and amortised over its estimated useful economic life. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 20 years

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Diopter Eye Clinic Ltd

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

22,524

22,524

At 30 April 2024

22,524

22,524

Amortisation

At 1 May 2023

3,566

3,566

Amortisation charge

1,127

1,127

At 30 April 2024

4,693

4,693

Carrying amount

At 30 April 2024

17,831

17,831

At 30 April 2023

18,958

18,958

 

Diopter Eye Clinic Ltd

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

1,848

186,943

188,791

Additions

-

68,506

68,506

Disposals

-

(611)

(611)

At 30 April 2024

1,848

254,838

256,686

Depreciation

At 1 May 2023

731

43,785

44,516

Charge for the year

231

36,344

36,575

Eliminated on disposal

-

(61)

(61)

At 30 April 2024

962

80,068

81,030

Carrying amount

At 30 April 2024

886

174,770

175,656

At 30 April 2023

1,117

143,158

144,275

Included within the net book value of land and buildings above is £885 (2023 - £1,116) in respect of short leasehold land and buildings.
 

6

Debtors

2024
£

2023
£

Trade debtors

39,496

35,833

Other debtors

5,876

9,311

Prepayments

3,666

4,624

49,038

49,768

 

Diopter Eye Clinic Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

60,163

45,323

Trade creditors

 

22,361

42,751

Taxation and social security

 

10,139

5,453

Accruals and deferred income

 

2,703

2,500

Directors current account

 

516

25,468

Other creditors

 

11,818

20,792

 

107,700

142,287

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

87,542

81,921

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

18,675

27,887

Hire purchase contracts

66,867

28,034

Other borrowings

2,000

26,000

87,542

81,921

 

Diopter Eye Clinic Ltd

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

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,996

8,556

Hire purchase contracts

27,167

12,767

Other borrowings

24,000

24,000

60,163

45,323

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £94,389 (2023 - £116,389).

This relates to the outstanding commitments for future minimum operating lease payments for the properties which the company trades from and future minimum operating lease payments for equipment.

10

Related party transactions

Mr A B Chokshi and Mrs T S Chokshi
(Directors and shareholders)

Dividends paid to the above directors during the year amounted £39,200 (2023 - £25,600).

At the balance sheet date the amount due to the directors was £516 (2023 - £25,468).

The amount owed to the directors are interest free and repayable on demand.