2023-07-012024-06-302024-06-30false04467920OLIVERS OPTICIANS 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OLIVERS OPTICIANS LIMITED

Registered Number
04467920
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

OLIVERS OPTICIANS LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Erica Gill

Company Secretary

Lynne Sansum

Registered Address

Denmark House 143 High Street
Chalfont St. Peter
Gerrards Cross
SL9 9QL

Registered Number

04467920 (England and Wales)
OLIVERS OPTICIANS LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets41,5881,872
1,5881,872
Current assets
Stocks60,79663,271
Debtors56,4601,524
Cash at bank and in hand14,27020,095
81,52684,890
81,52684,890
83,11486,762
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital102102
Share premium account30,00030,000
Profit and loss account1,9291,785
32,03131,887
Liabilities
Creditors amounts falling due within one year651,08354,875
83,11486,762
The financial statements were approved and authorised for issue by the Director on 5 January 2025, and are signed on its behalf by:
Erica Gill
Director
Registered Company No. 04467920
OLIVERS OPTICIANS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
OLIVERS OPTICIANS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04467920. The registered office is Chalfont St Peter, Buckinghamshire, SL9 9QL, United Kingdom.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year88
3.Intangible assets

Total

£
Cost or valuation
At 01 July 23120,000
At 30 June 24120,000
Amortisation and impairment
At 01 July 23120,000
At 30 June 24120,000
Net book value
At 30 June 24-
At 30 June 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2378,758
Additions205
At 30 June 2478,963
Depreciation and impairment
At 01 July 2376,886
Charge for year489
At 30 June 2477,375
Net book value
At 30 June 241,588
At 30 June 231,872
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables495360
Other debtors5,9651,164
Total6,4601,524
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables23,55422,100
Taxation and social security2,8086,689
Other creditors22,22724,298
Accrued liabilities and deferred income2,4941,788
Total51,08354,875
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Erica Gill19,3595,8208,01817,161
19,3595,8208,01817,161
At 30 June 2024 the directors are owed £17,161 (2023 - £19,359).
8.Share capital
Allotted, called up and fully paid 102 Ordinary shares of £1 each