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REGISTERED NUMBER: 01164179 (Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Alton Murphy (Opticians) Limited

Alton Murphy (Opticians) Limited (Registered number: 01164179)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Alton Murphy (Opticians) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr P A Murphy
Mrs S M J Murphy
Mrs H A Botham
Mr D A Jones
Mrs M Haf
Mrs M E Tudor
Mrs L S Gadsby





REGISTERED OFFICE: Y Gegin Fach
7 Crown Square
Denbigh
Clwyd
LL16 3TB





REGISTERED NUMBER: 01164179 (Wales)





ACCOUNTANTS: Emyr Mortimer Cyf
4 Lower Cardiff Road
Pwllheli
Gwynedd
LL53 5BY

Alton Murphy (Opticians) Limited (Registered number: 01164179)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,658 21,908
Investments 5 1,000 -
27,658 21,908

CURRENT ASSETS
Stocks 128,963 122,216
Debtors 6 594,722 686,796
Cash at bank and in hand 398,625 325,090
1,122,310 1,134,102
CREDITORS
Amounts falling due within one
year

7

575,957

614,101
NET CURRENT ASSETS 546,353 520,001
TOTAL ASSETS LESS
CURRENT LIABILITIES

574,011

541,909

CREDITORS
Amounts falling due after more
than one year

8

49,425

49,425
NET ASSETS 524,586 492,484

Alton Murphy (Opticians) Limited (Registered number: 01164179)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 524,584 492,482
524,586 492,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:




Mrs H A Botham - Director



Mrs L S Gadsby - Director


Alton Murphy (Opticians) Limited (Registered number: 01164179)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Alton Murphy (Opticians) Limited is a private company, limited by shares , registered in 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Income Statement, 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.


Alton Murphy (Opticians) Limited (Registered number: 01164179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

Alton Murphy (Opticians) Limited (Registered number: 01164179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 312,111
Additions 11,415
At 31 March 2024 323,526
DEPRECIATION
At 1 April 2023 290,203
Charge for year 6,665
At 31 March 2024 296,868
NET BOOK VALUE
At 31 March 2024 26,658
At 31 March 2023 21,908

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 1,000
At 31 March 2024 1,000
NET BOOK VALUE
At 31 March 2024 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.24 31.3.23
£    £   
Trade debtors 290,449 333,247
Other debtors 304,273 353,549
594,722 686,796

Alton Murphy (Opticians) Limited (Registered number: 01164179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.24 31.3.23
£    £   
Payments on account 22,191 27,739
Trade creditors 289,292 319,985
Taxation and social security 31,295 18,158
Other creditors 233,179 248,219
575,957 614,101

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 49,425 49,425

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 49,425 49,425

9. SECURED DEBTS

The bank overdraft is secured by way of a fixed charge held by HSBC Plc over book debts, and a floating charge over all other assets.

10. RELATED PARTY DISCLOSURES

During the year rent was paid to Mr & Mrs P.A. Murphy. Dragon Optical Ltd, a company of which Mr and Mrs Murphy and Mrs L.S. Gadsby are directors, invoiced the company £269,519 for supplies. The company also has a non-cancellable operating lease commitment for land and buildings, payable to the Alton Murphy (Opticians) Ltd pension scheme. Debtors at the year end include a retrospective discount due from Dragon Optical Ltd for previous years, and also historical wage contributions due from Dragon Optical Ltd. Dragon Optical Ltd also incurred refurbishment expenditure on the company's behalf in lieu of rent / service charge for the use of premises. An amount of rent received in advance is included in creditors at the year end. Also included are previous years wage contributions to Dragon Optical Ltd. Three of the directors are also directors of North Wales Eye Correction Centre Ltd, one of which is also a shareholder in Alton Murphy (Opticians) Ltd. Historical transactions, including patient management fees, occurred between the two companies.
As at 31.3.24 one director had a directors loan credit balance of £1,236 (31.3.23 £1,236). There were no transactions in the year.

Alton Murphy (Opticians) Limited (Registered number: 01164179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr & Mrs P.A. Murphy, husband and wife, and Mrs L.S. Gadsby (daughter), all directors of the company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Alton Murphy (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 Alton Murphy (Opticians) Limited for the year ended 31 March 2024 which comprise the Income Statement, 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 Alton Murphy (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 Alton Murphy (Opticians) Limited and state those matters that we have agreed to state to the Board of Directors of Alton Murphy (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 Alton Murphy (Opticians) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alton Murphy (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 Alton Murphy (Opticians) Limited. You consider that Alton Murphy (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 Alton Murphy (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.






Emyr Mortimer Cyf
4 Lower Cardiff Road
Pwllheli
Gwynedd

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Alton Murphy (Opticians) Limited

LL53 5BY


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