Celtic Opticians Ltd 10804299 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is opticians Digita Accounts Production Advanced 6.30.9574.0 true true 10804299 2024-01-01 2024-12-31 10804299 2024-12-31 10804299 bus:Director1 1 2024-12-31 10804299 bus:OrdinaryShareClass1 2024-12-31 10804299 core:RetainedEarningsAccumulatedLosses 2024-12-31 10804299 core:ShareCapital 2024-12-31 10804299 core:CurrentFinancialInstruments 2024-12-31 10804299 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10804299 core:Non-currentFinancialInstruments 2024-12-31 10804299 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10804299 core:LandBuildings core:LongLeaseholdAssets 2024-12-31 10804299 core:PlantMachinery 2024-12-31 10804299 bus:SmallEntities 2024-01-01 2024-12-31 10804299 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10804299 bus:FullAccounts 2024-01-01 2024-12-31 10804299 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10804299 bus:RegisteredOffice 2024-01-01 2024-12-31 10804299 bus:Director1 2024-01-01 2024-12-31 10804299 bus:Director1 1 2024-01-01 2024-12-31 10804299 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10804299 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10804299 core:LandBuildings core:LongLeaseholdAssets 2024-01-01 2024-12-31 10804299 core:PlantMachinery 2024-01-01 2024-12-31 10804299 countries:AllCountries 2024-01-01 2024-12-31 10804299 2023-12-31 10804299 bus:Director1 1 2023-12-31 10804299 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 10804299 core:PlantMachinery 2023-12-31 10804299 2023-01-01 2023-12-31 10804299 2023-12-31 10804299 bus:Director1 1 2023-12-31 10804299 bus:OrdinaryShareClass1 2023-12-31 10804299 core:RetainedEarningsAccumulatedLosses 2023-12-31 10804299 core:ShareCapital 2023-12-31 10804299 core:CurrentFinancialInstruments 2023-12-31 10804299 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10804299 core:Non-currentFinancialInstruments 2023-12-31 10804299 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10804299 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 10804299 core:PlantMachinery 2023-12-31 10804299 bus:Director1 1 2023-01-01 2023-12-31 10804299 bus:Director1 1 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 10804299

Celtic Opticians Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Celtic Opticians Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Celtic Opticians Ltd

Company Information

Director

Ms R N Evans

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Celtic Opticians Ltd

(Registration number: 10804299)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

47,555

47,322

Current assets

 

Stocks

6

40,178

48,683

Debtors

7

25,360

26,935

Cash at bank and in hand

 

14,770

9,265

 

80,308

84,883

Creditors: Amounts falling due within one year

8

(28,384)

(18,441)

Net current assets

 

51,924

66,442

Total assets less current liabilities

 

99,479

113,764

Creditors: Amounts falling due after more than one year

8

(84,767)

(65,819)

Net assets

 

14,712

47,945

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

14,612

47,845

Total equity

 

14,712

47,945

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Celtic Opticians Ltd

(Registration number: 10804299)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 30 April 2025
 

.........................................
Ms R N Evans
Director

   
     
 

Celtic Opticians Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 30 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Celtic Opticians Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Celtic Opticians Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 7).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

3,624

3,651

 

Celtic Opticians Ltd

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

5

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

31,744

39,315

71,059

Additions

-

3,856

3,856

At 31 December 2024

31,744

43,171

74,915

Depreciation

At 1 January 2024

-

23,736

23,736

Charge for the year

-

3,624

3,624

At 31 December 2024

-

27,360

27,360

Carrying amount

At 31 December 2024

31,744

15,811

47,555

At 31 December 2023

31,744

15,578

47,322

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £31,744 (2023 - £31,744) in respect of long leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

40,178

48,683

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

6,762

6,280

Amounts owed by related parties

11

15,307

18,290

Other debtors

 

3,291

2,365

 

25,360

26,935

 

Celtic Opticians Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

15,760

8,681

Trade creditors

 

11,061

7,333

Taxation and social security

 

854

185

Outstanding defined contribution pension costs

 

208

-

Corporation tax liability

 

-

1,534

Other creditors

 

501

708

 

28,384

18,441

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

84,767

65,819

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

Celtic Opticians Ltd

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

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

84,767

65,819

2024
£

2023
£

Current loans and borrowings

Bank borrowings

13,227

8,581

Bank overdrafts

2,533

100

15,760

8,681

11

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2024
£

Ms R N Evans

Interest free loan repayable on demand

18,290

(18,290)

15,307

15,307

         
       

 

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Ms R N Evans

Interest free loan repayable on demand

(15)

18,305

18,290