IRIS Accounts Production v24.3.0.553 04398515 director 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043985152023-03-31043985152024-03-31043985152023-04-012024-03-31043985152022-03-31043985152022-04-012023-03-31043985152023-03-3104398515ns15:EnglandWales2023-04-012024-03-3104398515ns14:PoundSterling2023-04-012024-03-3104398515ns10:Director12023-04-012024-03-3104398515ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104398515ns10:SmallEntities2023-04-012024-03-3104398515ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104398515ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104398515ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104398515ns10:FullAccounts2023-04-012024-03-310439851512023-04-012024-03-3104398515ns10:CompanySecretary12023-04-012024-03-3104398515ns10:RegisteredOffice2023-04-012024-03-3104398515ns5:CurrentFinancialInstruments2024-03-3104398515ns5:CurrentFinancialInstruments2023-03-3104398515ns5:Non-currentFinancialInstruments2024-03-3104398515ns5:Non-currentFinancialInstruments2023-03-3104398515ns5:ShareCapital2024-03-3104398515ns5:ShareCapital2023-03-3104398515ns5:CapitalRedemptionReserve2024-03-3104398515ns5:CapitalRedemptionReserve2023-03-3104398515ns5:RetainedEarningsAccumulatedLosses2024-03-3104398515ns5:RetainedEarningsAccumulatedLosses2023-03-3104398515ns5:NetGoodwill2023-04-012024-03-3104398515ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104398515ns5:LandBuildings2023-04-012024-03-3104398515ns5:PlantMachinery2023-04-012024-03-3104398515ns5:NetGoodwill2023-03-3104398515ns5:NetGoodwill2024-03-3104398515ns5:NetGoodwill2023-03-3104398515ns5:LandBuildings2023-03-3104398515ns5:PlantMachinery2023-03-3104398515ns5:LandBuildings2024-03-3104398515ns5:PlantMachinery2024-03-3104398515ns5:LandBuildings2023-03-3104398515ns5:PlantMachinery2023-03-3104398515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3104398515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3104398515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3104398515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3104398515ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104398515ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104398515ns5:Secured2024-03-3104398515ns5:Secured2023-03-3104398515ns5:DeferredTaxation2023-03-3104398515ns5:DeferredTaxation2024-03-31
REGISTERED NUMBER: 04398515 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Heyes Opticians Limited

Heyes Opticians Limited (Registered number: 04398515)






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


Heyes Opticians Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: N E Heyes





SECRETARY: Mrs C L Heyes





REGISTERED OFFICE: 46 Liverpool Road North
Burscough
Lancashire
L40 4BY





REGISTERED NUMBER: 04398515 (England and Wales)





ACCOUNTANTS: Sawyer Quine & Co
202 Merlin Park
Ringtail Road
Burscough
Ormskirk
Lancashire
L40 8JY

Heyes Opticians Limited (Registered number: 04398515)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,000 30,000
Tangible assets 5 424,870 348,640
451,870 378,640

CURRENT ASSETS
Stocks 94,775 96,174
Debtors 6 35,125 32,643
Cash at bank and in hand 25,173 71,159
155,073 199,976
CREDITORS
Amounts falling due within one year 7 165,108 172,813
NET CURRENT (LIABILITIES)/ASSETS (10,035 ) 27,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

441,835

405,803

CREDITORS
Amounts falling due after more than one
year

8

(381,257

)

(340,805

)

PROVISIONS FOR LIABILITIES 10 (26,720 ) (20,887 )
NET ASSETS 33,858 44,111

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 100 100
Retained earnings 33,756 44,009
SHAREHOLDERS' FUNDS 33,858 44,111

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 director acknowledges his 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.

Heyes Opticians Limited (Registered number: 04398515)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





N E Heyes - Director


Heyes Opticians Limited (Registered number: 04398515)

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

1. STATUTORY INFORMATION

Heyes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 businesses in 2006 and 2010, is being amortised evenly over their estimated useful lives 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
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 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.

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.

Heyes Opticians Limited (Registered number: 04398515)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 330,000
Additions 9,000
At 31 March 2024 339,000
AMORTISATION
At 1 April 2023 300,000
Charge for year 12,000
At 31 March 2024 312,000
NET BOOK VALUE
At 31 March 2024 27,000
At 31 March 2023 30,000

Heyes Opticians Limited (Registered number: 04398515)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 165,000 573,975 738,975
Additions - 128,462 128,462
At 31 March 2024 165,000 702,437 867,437
DEPRECIATION
At 1 April 2023 9,100 381,235 390,335
Charge for year 1,300 50,932 52,232
At 31 March 2024 10,400 432,167 442,567
NET BOOK VALUE
At 31 March 2024 154,600 270,270 424,870
At 31 March 2023 155,900 192,740 348,640

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 204,593
Additions 128,462
Transfer to ownership (10,283 )
At 31 March 2024 322,772
DEPRECIATION
At 1 April 2023 76,467
Charge for year 30,656
Transfer to ownership (7,198 )
At 31 March 2024 99,925
NET BOOK VALUE
At 31 March 2024 222,847
At 31 March 2023 128,126

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 28,083 25,573
Other debtors 7,042 7,070
35,125 32,643

Heyes Opticians Limited (Registered number: 04398515)

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
£    £   
Bank loans and overdrafts 31,515 44,114
Finance leases 54,580 33,809
Trade creditors 49,176 47,364
Taxation and social security 19,558 36,875
Other creditors 10,279 10,651
165,108 172,813

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 275,717 300,525
Finance leases 105,540 40,280
381,257 340,805

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 172,991 163,441

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 307,232 344,639
Finance leases 160,120 74,089
467,352 418,728

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 26,720 20,887

Deferred
tax
£   
Balance at 1 April 2023 20,887
Accelerated capital allowances 5,833
Balance at 31 March 2024 26,720

Heyes Opticians Limited (Registered number: 04398515)

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

11. RELATED PARTY DISCLOSURES

Included within Creditors: - amounts falling due within one year is £5,594 (2023: - £6,505) in respect of the balances on the directors' loan accounts. The directors' loan is provided to the company by the director on an interest free basis and is repayable on demand.