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REGISTERED NUMBER: 01427908 (England and Wales)









STEWART R. GREENBERG OPTICIANS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)






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


STEWART R. GREENBERG OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S R Greenberg
Mrs L J King
C Marshall





SECRETARY: Mrs J Greenberg





REGISTERED OFFICE: CHURCHGATE HOUSE
3 CHURCH ROAD
WHITCHURCH
CARDIFF
SOUTH GLAMORGAN
CF14 2DX





REGISTERED NUMBER: 01427908 (England and Wales)






STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,345 30,773

CURRENT ASSETS
Stocks 5 21,280 21,797
Debtors 6 21,287 14,776
Cash at bank and in hand 10,148 25,072
52,715 61,645
CREDITORS
Amounts falling due within one year 7 55,445 60,628
NET CURRENT (LIABILITIES)/ASSETS (2,730 ) 1,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,615

31,790

CREDITORS
Amounts falling due after more than one
year

8

(13,472

)

(18,223

)

PROVISIONS FOR LIABILITIES 11 (7,048 ) (7,645 )
NET ASSETS 5,095 5,922

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

BALANCE SHEET - continued
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 120 120
Retained earnings 4,975 5,802
SHAREHOLDERS' FUNDS 5,095 5,922

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.

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 1 April 2025 and were signed on its behalf by:





S R Greenberg - Director


STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

1. STATUTORY INFORMATION

Stewart R. Greenberg 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Improvements to property - 20% on reducing balance
Plant and Machinery -10% cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

2. ACCOUNTING POLICIES - continued

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.

Turnover
Turnover represents the total sales value of goods and services provided, excluding VAT. Revenue is recognised when the company has fulfilled its obligations to the customer, and it is probable that payment will be received.

Turnover is recognised as follows:

Sale of Glasses, Contact Lenses, and Optical Products - Revenue is recorded at the point of sale, when the customer takes possession of the goods.

Eye Tests and Professional Services - Revenue is recognised when the service is completed.

NHS Payments - Revenue is recognised once the service or product has been provided and a valid claim has been submitted.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 17,338 37,270 11,497 2,670 68,775
Additions - 2,091 - - 2,091
At 30 September 2024 17,338 39,361 11,497 2,670 70,866
DEPRECIATION
At 1 October 2023 17,147 11,187 9,333 335 38,002
Charge for year 38 3,740 406 335 4,519
At 30 September 2024 17,185 14,927 9,739 670 42,521
NET BOOK VALUE
At 30 September 2024 153 24,434 1,758 2,000 28,345
At 30 September 2023 191 26,083 2,164 2,335 30,773

5. STOCKS
30.9.24 30.9.23
£    £   
Goods for resale 21,280 21,797

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 8,752 5,415
Other debtors 12,535 9,361
21,287 14,776

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 9) 10,176 10,057
Trade creditors 17,102 22,277
Taxation and social security 21,397 14,018
Other creditors 6,770 14,276
55,445 60,628

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 9) 13,472 18,223

9. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,176 10,057

Amounts falling due between two and five years:
Bank loans - 2-5 years 13,472 18,223

10. LEASING AGREEMENTS
At 30 September 2024, the company had total commitments under non- cancellable operating leases over the remaining life of those leases of £42,166 (2023 - £59,416).

11. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 7,048 7,645

Deferred
tax
£   
Balance at 1 October 2023 7,645
Provided during year (597 )
Balance at 30 September 2024 7,048

STEWART R. GREENBERG OPTICIANS LIMITED (REGISTERED NUMBER: 01427908)

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

12. CALLED UP SHARE CAPITAL

Allotted and issued:

Number: Class: Nominal 30.9.24 30.9.23
value: £    £   

30 Ordinary A £1 30 30
10 Ordinary B £1 10 10
40 Ordinary C £1 40 40
40 Ordinary D £1 40 40
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120 120
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