REGISTERED NUMBER: 00289061 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2024

for

Henry Smith And Hamylton (Opticians)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H W G Smith

N A Smith

J E Overend

REGISTERED OFFICE:

Beaumont House

Chancery Place

Millstone Lane

Leicester

Leicestershire

LE1 5JN

REGISTERED NUMBER:

00289061 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

361,352

406,179

Investments

6

89

89

Investment property

7

440,000

207,947

801,441

614,215

CURRENT ASSETS

Stocks

236,374

234,003

Debtors

8

76,099

72,238

Cash at bank and in hand

143,400

202,390

455,873

508,631

CREDITORS

Amounts falling due within one year

9

(211,457

)

(186,516

)

NET CURRENT ASSETS

244,416

322,115

TOTAL ASSETS LESS CURRENT LIABILITIES

1,045,857

936,330

CREDITORS

Amounts falling due after more than one year

10

(37,209

)

(31,909

)

PROVISIONS FOR LIABILITIES

(66,087

)

(25,107

)

NET ASSETS

942,561

879,314

CAPITAL AND RESERVES

Called up share capital

4,000

4,000

Fair value reserve

204,349

54,450

Retained earnings

734,212

820,864

942,561

879,314

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:

J E Overend - Director

1.	STATUTORY INFORMATION

Henry Smith And Hamylton (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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Freehold property

-

6% - 33% on cost

Long leasehold

-

Over the term of the lease

Plant and machinery

-

5% to 25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, 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 Profit and Loss Account, 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised evenly over its estimated useful life of 10 years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 38 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2023

and 31 August 2024

39,999

AMORTISATION

At 1 September 2023

and 31 August 2024

39,999

NET BOOK VALUE

At 31 August 2024

-

At 31 August 2023

-

5.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 September 2023

51,280

94,634

1,202,862

Additions

-

-

30,000

Reclassification/transfer

(34,217

)

-

-

At 31 August 2024

17,063

94,634

1,232,862

DEPRECIATION

At 1 September 2023

15,863

52,446

890,953

Charge for year

1,200

6,182

29,062

At 31 August 2024

17,063

58,628

920,015

NET BOOK VALUE

At 31 August 2024

-

36,006

312,847

At 31 August 2023

35,417

42,188

311,909

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 September 2023

113,760

84,784

1,547,320

Additions

-

-

30,000

Reclassification/transfer

-

-

(34,217

)

At 31 August 2024

113,760

84,784

1,543,103

DEPRECIATION

At 1 September 2023

97,095

84,784

1,141,141

Charge for year

4,166

-

40,610

At 31 August 2024

101,261

84,784

1,181,751

NET BOOK VALUE

At 31 August 2024

12,499

-

361,352

At 31 August 2023

16,665

-

406,179

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2023

and 31 August 2024

89

NET BOOK VALUE

At 31 August 2024

89

At 31 August 2023

89

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2023

207,947

Revaluations

7,053

Reclassification/transfer

225,000

At 31 August 2024

440,000

NET BOOK VALUE

At 31 August 2024

440,000

At 31 August 2023

207,947

The directors consider the investment property valuation to be appropriate as at 31 August 2024 on an open market basis.

Fair value at 31 August 2024 is represented by:

£

Valuation in 2024

304,653

Cost

135,347

440,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

23,048

24,889

Amounts owed by group undertakings

16,358

14,416

Other debtors

36,693

32,933

76,099

72,238

Other debtors included prepayments and accrued income of £36,315 (2023 - £32,934).

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

16,134

16,401

Trade creditors

132,568

114,260

Taxation and social security

29,956

22,184

Other creditors

22,799

23,671

211,457

186,516

Other creditors includes accruals and deferred income of £2,500 (2023 - £2,500).

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans

7,500

17,500

Hire purchase contracts

29,709

14,409

37,209

31,909

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.24

31.8.23

£

£

Hire purchase contracts

45,843

30,810

Hire purchase liabilities are secured on the individual assets being so acquired.

12.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £2,652,709 (2023 - £2,968,156).

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24

31.8.23

£

£

H W G Smith

Balance outstanding at start of year

-

5,603

Amounts repaid

-

(5,603

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The loan was interest free and repayable on demand.