Caseware UK (AP4) 2024.0.164 2024.0.164 false2023-08-01No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse33false 02251059 2023-08-01 2024-07-31 02251059 2022-08-01 2023-07-31 02251059 2024-07-31 02251059 2023-07-31 02251059 c:Director1 2023-08-01 2024-07-31 02251059 c:RegisteredOffice 2023-08-01 2024-07-31 02251059 d:Buildings 2023-08-01 2024-07-31 02251059 d:Buildings 2024-07-31 02251059 d:Buildings 2023-07-31 02251059 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02251059 d:PlantMachinery 2023-08-01 2024-07-31 02251059 d:PlantMachinery 2024-07-31 02251059 d:PlantMachinery 2023-07-31 02251059 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02251059 d:FurnitureFittings 2023-08-01 2024-07-31 02251059 d:FurnitureFittings 2024-07-31 02251059 d:FurnitureFittings 2023-07-31 02251059 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02251059 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02251059 d:FreeholdInvestmentProperty 2024-07-31 02251059 d:FreeholdInvestmentProperty 2023-07-31 02251059 d:CurrentFinancialInstruments 2024-07-31 02251059 d:CurrentFinancialInstruments 2023-07-31 02251059 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 02251059 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02251059 d:UKTax 2023-08-01 2024-07-31 02251059 d:UKTax 2022-08-01 2023-07-31 02251059 d:ShareCapital 2024-07-31 02251059 d:ShareCapital 2023-07-31 02251059 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 02251059 d:RetainedEarningsAccumulatedLosses 2024-07-31 02251059 d:RetainedEarningsAccumulatedLosses 2023-07-31 02251059 c:OrdinaryShareClass1 2023-08-01 2024-07-31 02251059 c:OrdinaryShareClass1 2024-07-31 02251059 c:OrdinaryShareClass1 2023-07-31 02251059 c:OrdinaryShareClass2 2023-08-01 2024-07-31 02251059 c:OrdinaryShareClass2 2024-07-31 02251059 c:OrdinaryShareClass2 2023-07-31 02251059 c:FRS102 2023-08-01 2024-07-31 02251059 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 02251059 c:FullAccounts 2023-08-01 2024-07-31 02251059 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02251059 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 02251059 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 02251059 2 2023-08-01 2024-07-31 02251059 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02251059










Chris Adams Opticians Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2024

 
Chris Adams Opticians Limited
 

Company Information


Director
T Capell 




Registered number
02251059



Registered office
37 St Margaret's Street
Canterbury

Kent

CT1 2TU




Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU





 
Chris Adams Opticians Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Chris Adams Opticians Limited for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chris Adams Opticians Limited for the year ended 31 July 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the director of Chris Adams Opticians Limited in accordance with the terms of our engagement letter dated 15 March 2024Our work has been undertaken solely to prepare for your approval the financial statements of Chris Adams Opticians Limited and state those matters that we have agreed to state to the director of Chris Adams Opticians Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chris Adams Opticians Limited and its director for our work or for this report. 

It is your duty to ensure that Chris Adams 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 Chris Adams Opticians Limited. You consider that Chris Adams Opticians Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Chris Adams 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.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
25 April 2025
Page 1

 
Chris Adams Opticians Limited
Registered number: 02251059

Balance sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
55,842
30,226

Investment property
 6 
135,000
135,000

  
190,842
165,226

Current assets
  

Stocks
  
11,981
9,597

Debtors: amounts falling due within one year
 7 
4,869
16,879

Cash at bank and in hand
  
177,343
186,642

  
194,193
213,118

Creditors: amounts falling due within one year
 8 
(46,480)
(52,542)

Net current assets
  
 
 
147,713
 
 
160,576

Total assets less current liabilities
  
338,555
325,802

Provisions for liabilities
  

Deferred tax
 9 
(33,061)
(28,059)

  
 
 
(33,061)
 
 
(28,059)

Net assets
  
305,494
297,743


Capital and reserves
  

Called up share capital 
 10 
200
200

Profit and loss account
 11 
305,294
297,543

  
305,494
297,743


Page 2

 
Chris Adams Opticians Limited
Registered number: 02251059

Balance sheet (continued)
As at 31 July 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T Capell
Director
Date: 25 April 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

1.


General information

Chris Adams Opticians Limited is a private company limited by shares and is incorporated in England
with the registration number 02251059.
 
The principal business address of the company is 17 Cheriton Place, Town Centre, Folkestone, England, CT20 2AY.
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant & machinery
-
10% straight line
Fixtures & fittings
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.8

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
1,644
9,347


1,644
9,347


Total current tax
1,644
9,347

Deferred tax


Origination and reversal of timing differences
5,002
(611)

Total deferred tax
5,002
(611)


Tax on profit
6,646
8,736

Factors affecting tax charge for the year

The tax charge for the year has been calculated at the small comapnies rate of 19% (2023: marginal rate of 20.16%) after adjusting for losses made by the parent company in a group relief claim. 


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 7

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

5.


Tangible fixed assets





Freehold property
Plant & machinery
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
35,527
72,955
27,920
136,402


Additions
-
26,995
2,847
29,842



At 31 July 2024

35,527
99,950
30,767
166,244



Depreciation


At 1 August 2023
17,522
65,253
23,401
106,176


Charge for the year on owned assets
711
2,220
1,295
4,226



At 31 July 2024

18,233
67,473
24,696
110,402



Net book value



At 31 July 2024
17,294
32,477
6,071
55,842



At 31 July 2023
18,005
7,702
4,519
30,226


6.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
135,000



At 31 July 2024
135,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




Page 8

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
2,892
16,867

Other debtors
1,977
12

4,869
16,879



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,131
10,693

Corporation tax
1,644
9,347

Other taxation and social security
-
53

Other creditors
22,526
22,220

Accruals and deferred income
9,179
10,229

46,480
52,542



9.


Deferred taxation




2024


£






At beginning of year
(28,059)


Charged to the profit or loss
(5,002)



At end of year
(33,061)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(33,061)
(28,059)

(33,061)
(28,059)

Page 9

 
Chris Adams Opticians Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100
100 (2023 - 100) Ordinary A shares of £1.00 each
100
100

200

200



11.


Reserves

Profit & loss account

The profit and loss account reserves include non-distributable reserves totalling £77,211 (2023 £77,211), which represents the fair value movement on investment properties, less the associated deferred tax liability on this movement.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £203 (2023 - £121). Contributions totalling £44 (2023 - £44) were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

The parent undertaking is T & J Capell Limited. The ultimate controlling party is Mr Capell. 


Page 10