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REGISTERED NUMBER: 07387545 (England and Wales)












NORMA DAVIES OPTICIANS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024






NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

NORMA DAVIES OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: C G McAnaney
Mrs C McAnaney





REGISTERED OFFICE: 6 Pentrepoeth Road
Morriston
Swansea
West Glamorgan
SA6 6AB





REGISTERED NUMBER: 07387545 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 46,666 93,332
Tangible assets 5 60,557 71,042
107,223 164,374

CURRENT ASSETS
Stocks 138,140 129,865
Debtors 6 36,548 28,969
Cash at bank 343,040 354,240
517,728 513,074
CREDITORS
Amounts falling due within one year 7 397,167 455,511
NET CURRENT ASSETS 120,561 57,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,784

221,937

PROVISIONS FOR LIABILITIES 15,139 17,761
NET ASSETS 212,645 204,176

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 212,545 204,076
SHAREHOLDERS' FUNDS 212,645 204,176

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

BALANCE SHEET - continued
30 SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





Mrs C McAnaney - Director


NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

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

1. STATUTORY INFORMATION

Norma Davies 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 represents net invoiced sales and services of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of fifteen 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 - 25% on cost and 10% 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 Statement of Income and Retained Earnings, 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.

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.

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

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

2. ACCOUNTING POLICIES - continued

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Functional and Presentation Currency
The company's functional and presentation currency is pounds sterling.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 700,000
AMORTISATION
At 1 October 2023 606,668
Amortisation for year 46,666
At 30 September 2024 653,334
NET BOOK VALUE
At 30 September 2024 46,666
At 30 September 2023 93,332

NORMA DAVIES OPTICIANS LIMITED (REGISTERED NUMBER: 07387545)

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

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property Machinery vehicles Totals
£    £    £    £   
COST
At 1 October 2023 102,563 252,113 19,380 374,056
Additions - 11,651 - 11,651
At 30 September 2024 102,563 263,764 19,380 385,707
DEPRECIATION
At 1 October 2023 61,845 221,789 19,380 303,014
Charge for year 9,115 13,021 - 22,136
At 30 September 2024 70,960 234,810 19,380 325,150
NET BOOK VALUE
At 30 September 2024 31,603 28,954 - 60,557
At 30 September 2023 40,718 30,324 - 71,042

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,423 25,594
Prepayments 7,125 3,375
36,548 28,969

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 60,340 41,411
Amounts owed to associates 127,732 161,766
Tax 120,855 120,841
Social security and other taxes 4,482 4,648
VAT 4,859 8,140
Other creditors - (2 )
Directors' current accounts 76,415 116,407
Accrued expenses 2,484 2,300
397,167 455,511

8. ULTIMATE CONTROLLING PARTY

C McAnaney Optical Ltd is the ultimate controlling party and holds 90% of the shares. This company is owned by 2 of the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NORMA DAVIES OPTICIANS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norma Davies Opticians Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Norma Davies Opticians Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norma Davies Opticians Limited and state those matters that we have agreed to state to the Board of Directors of Norma Davies Opticians Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norma Davies Opticians Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Norma Davies Opticians Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norma Davies Opticians Limited. You consider that Norma Davies Opticians Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Norma Davies Opticians Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


Date: .............................................