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REGISTERED NUMBER: 02703653 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

VISION VALUE OPTICIANS LIMITED

VISION VALUE OPTICIANS LIMITED (REGISTERED NUMBER: 02703653)






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


VISION VALUE OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Fiona Shaw





REGISTERED OFFICE: 6/8 Peel Square
Barnsley
South Yorkshire
S70 1YA





REGISTERED NUMBER: 02703653 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP

VISION VALUE OPTICIANS LIMITED (REGISTERED NUMBER: 02703653)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 98,378 85,938
98,378 85,938

CURRENT ASSETS
Stocks 91,562 89,401
Debtors 6 693,153 655,893
Cash at bank and in hand 163,883 49,186
948,598 794,480
CREDITORS
Amounts falling due within one year 7 240,280 206,664
NET CURRENT ASSETS 708,318 587,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

806,696

673,754

PROVISIONS FOR LIABILITIES 22,476 16,328
NET ASSETS 784,220 657,426

CAPITAL AND RESERVES
Called up share capital 20,200 20,200
Profit and loss account 764,020 637,226
784,220 657,426

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 her 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.

VISION VALUE OPTICIANS LIMITED (REGISTERED NUMBER: 02703653)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 January 2025 and were signed by:





Fiona Shaw - Director


VISION VALUE OPTICIANS LIMITED (REGISTERED NUMBER: 02703653)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Vision Value Opticians Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 the business in 2013, has now been fully amortised in the current year.

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 - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer Equipment - 33% 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 Profit and Loss Account, 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.


VISION VALUE OPTICIANS LIMITED (REGISTERED NUMBER: 02703653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

INCOME RECOGNITION
Revenue is recognised to the extent that is probable that the economic benefits will flow to the company and revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

FINANCE COSTS OF DEBT
Interest on the bank loan is charged at a commercial rate of interest. The bank loan is secured by a charge on the company's assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 158,416
AMORTISATION
At 1 May 2023
and 30 April 2024 158,416
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

VISION VALUE OPTICIANS LIMITED (REGISTERED NUMBER: 02703653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings Equipment Totals
£    £    £    £   
COST
At 1 May 2023 164,233 151,041 76,500 391,774
Additions 30,505 - - 30,505
At 30 April 2024 194,738 151,041 76,500 422,279
DEPRECIATION
At 1 May 2023 98,890 131,081 75,865 305,836
Charge for year 14,581 2,995 489 18,065
At 30 April 2024 113,471 134,076 76,354 323,901
NET BOOK VALUE
At 30 April 2024 81,267 16,965 146 98,378
At 30 April 2023 65,343 19,960 635 85,938

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 367,588 297,526
Amounts owed by related party 301,942 333,289
Other debtors 23,623 25,078
693,153 655,893

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 49,129 79,626
Trade creditors 88,101 43,733
Taxation and social security 68,910 62,385
Other creditors 34,140 20,920
240,280 206,664

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 90,310 90,310
Between one and five years 22,578 112,888
112,888 203,198