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Registered number: 06829060
D. I. BLOW OPTICIANS LTD
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors R I Blow
O I Blow
K L Blow
R K Blow
C Hollowood
A M Hughes
S L Hughes
Company Number 06829060
Registered Office 55a Portland Square
Sutton-in-Ashfield
NG17 1AZ
Accountants Inform Accounting Ltd
St James House
65 Mere Green Road
Sutton Coldfield
West Midlands
B75 5BY
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Page 2
Statement of Financial Position
Registered number: 06829060
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 91,403 112,668
Tangible Assets 5 504,252 547,788
Investments 6 50 50
595,705 660,506
CURRENT ASSETS
Stocks 7 345,864 319,345
Debtors 8 324,131 161,459
Cash at bank and in hand 289,287 71,964
959,282 552,768
Creditors: Amounts Falling Due Within One Year 9 (566,199 ) (522,447 )
NET CURRENT ASSETS (LIABILITIES) 393,083 30,321
TOTAL ASSETS LESS CURRENT LIABILITIES 988,788 690,827
Creditors: Amounts Falling Due After More Than One Year 10 (396,421 ) (332,432 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (93,000 ) (136,000 )
NET ASSETS 499,367 222,395
CAPITAL AND RESERVES
Called up share capital 11 100 100
Income Statement 499,267 222,295
SHAREHOLDERS' FUNDS 499,367 222,395
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
O I Blow
Director
29/01/2025
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
D. I. BLOW OPTICIANS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 06829060 . The registered office is 55a Portland Square, Sutton-in-Ashfield, NG17 1AZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
2.2. Turnover
Turnover is the total amount receivable by the Company in the ordinary course of the business for services provided, excluding VAT.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Previously acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years. Goodwill acquired is not amortised in the year of acquisition. Newly acquired goodwill will be written off over its estimated expected useful economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their estimated useful lives on the following basis:
Leasehold 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.6. Leasing and Hire Purchase Contracts
Where assets are financed by leasing or hire purchase agreements which give risks and rewards approximating to ownership they are treated as if they had been purchased outright on credit. They are therefore initially recorded as a fixed asset and a liability, at a sum equal to the fair value of the asset. Payments on such assets are regarded as consisting of a capital element which reduces the outstanding liability and an interest element which is charged to the profit and loss account.
2.7. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.8. Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2.9. Pensions
The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which the are payable.
2.10. Government Grant
Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 52 (2023: 50)
52 50
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 359,153
As at 30 April 2024 359,153
Amortisation
As at 1 May 2023 246,485
Provided during the period 21,265
As at 30 April 2024 267,750
Net Book Value
As at 30 April 2024 91,403
As at 1 May 2023 112,668
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2023 12,891 684,514 9,848 160,722
Additions - 16,115 19,480 10,773
As at 30 April 2024 12,891 700,629 29,328 171,495
Depreciation
As at 1 May 2023 2,202 278,513 8,096 104,433
Provided during the period 258 63,315 5,308 10,063
As at 30 April 2024 2,460 341,828 13,404 114,496
Net Book Value
As at 30 April 2024 10,431 358,801 15,924 56,999
As at 1 May 2023 10,689 406,001 1,752 56,289
Computer Equipment Total
£ £
Cost
As at 1 May 2023 85,953 953,928
Additions - 46,368
As at 30 April 2024 85,953 1,000,296
...CONTINUED
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Depreciation
As at 1 May 2023 12,896 406,140
Provided during the period 10,960 89,904
As at 30 April 2024 23,856 496,044
Net Book Value
As at 30 April 2024 62,097 504,252
As at 1 May 2023 73,057 547,788
6. Investments
Unlisted
£
Cost
As at 1 May 2023 50
As at 30 April 2024 50
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 50
As at 1 May 2023 50
7. Stocks
2024 2023
as restated
£ £
Finished goods 345,864 319,345
8. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 122,568 89,665
Amounts owed by group undertakings 170,741 42,872
Other debtors 30,822 28,922
324,131 161,459
9. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 252,734 392,089
Bank loans and overdrafts 131,570 85,191
Other creditors 54,989 19,919
Taxation and social security 126,906 25,248
566,199 522,447
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Trade creditors 63,532 159,948
Bank loans 332,889 172,484
396,421 332,432
11. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
The loans disclosed in notes 9 and 10 and are secured by guarantes given by the holding company RI Blow Ltd to a maximum of £725,000 together with charges over some properties owned by RI Blow Ltd and a debenture on D. I. Blow Opticians Ltd. There are also loans of £300,000 where Mr R I Blow has provided personal guarantees.
Lease commitments
Total financial commitments which are not included in the balance sheet amount to £255,073
(2023: £339,455).
13. Post Balance Sheet Events
During October 2024, the Company ownership structure was reorganised.  The Company ownership was transferred to DI Blow Topco Limited.The ultimate controlling parties are O I Blow, S L Hughes and R K Blow who are equal shareholders and are all directors of the Company.
14. Related Party Transactions
RI Blow Ltd is the holding company of D.I. Blow Opticians Ltd. Mr R I Blow is a director of RI Blow Ltd. Mr R I Blow is the 100% shareholder of RI Blow Ltd and therefore the ulimate controlling party of D.I. Blow Opticians Ltd.
Mr R I Blow also provides personal guarantees totalling £300,000 and there is a life policy held by Mr R I Blow which is held against loans to the Company.
Mr R I Blow owns 50% of a Company I O Glossop Ltd and is also a director and has significant influence.
At 30th April 2024, I O Glossop Ltd owes  D. I. Blow Opticans Ltd £16,120.
15. Ultimate Controlling Party
At the balance sheet date the Company was a wholly owned subsidiary of RI Blow Ltd, a Company registered in the United Kingdom. The accounts for RI Blow Ltd are retained at the registered office being 55a Portland Square, Sutton-in-Ashfield, Nottinghamshire, NG17 1AZ.
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