Company registration number 09304711 (England and Wales)
S&B EYECARE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
S&B EYECARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
S&B EYECARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
13,119
26,238
Tangible assets
4
36,075
49,056
49,194
75,294
Current assets
Stocks
29,901
28,701
Debtors
5
24,927
19,991
Cash at bank and in hand
127,073
150,294
181,901
198,986
Creditors: amounts falling due within one year
6
(126,852)
(134,753)
Net current assets
55,049
64,233
Total assets less current liabilities
104,243
139,527
Creditors: amounts falling due after more than one year
7
(8,538)
(26,173)
Provisions for liabilities
(5,873)
(8,768)
Net assets
89,832
104,586
Capital and reserves
Called up share capital
8
10
10
Profit and loss reserves
89,822
104,576
Total equity
89,832
104,586
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 22 May 2025 and are signed on its behalf by:
Mr B Gallagher
Director
Company registration number 09304711 (England and Wales)
S&B EYECARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
S&B Eyecare Limited is a private company limited by shares incorporated in England and Wales. The registered office is Boots Opticians, 19 The Grove Centre, Witham, Essex, CM8 2YT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, VAT and other sales-related taxes.
Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in the exchange for goods and services provided.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of optometry services is recognised when the service is provided.
1.3
Intangible fixed assets other than goodwill
Intangible assets relate to a franchise fee paid and measured at cost less accumulated amortisation.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Franchise
7 years
1.4
Tangible fixed assets
Tangible fixed assets are measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
20% on cost
Fixtures and fittings
10% on cost
S&B EYECARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted at the balance sheet.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
S&B EYECARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
10
9
3
Intangible fixed assets
Franchise
£
Cost
At 1 April 2024 and 31 March 2025
106,992
Amortisation and impairment
At 1 April 2024
80,754
Amortisation charged for the year
13,119
At 31 March 2025
93,873
Carrying amount
At 31 March 2025
13,119
At 31 March 2024
26,238
S&B EYECARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Tangible fixed assets
Office equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2024
45,827
66,278
112,105
Additions
3,030
3,030
At 31 March 2025
48,857
66,278
115,135
Depreciation and impairment
At 1 April 2024
19,968
43,081
63,049
Depreciation charged in the year
9,383
6,628
16,011
At 31 March 2025
29,351
49,709
79,060
Carrying amount
At 31 March 2025
19,506
16,569
36,075
At 31 March 2024
25,859
23,197
49,056
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
9,918
8,539
Other debtors
503
Prepayments and accrued income
14,506
11,452
24,927
19,991
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,076
9,831
Trade creditors
66,289
75,573
Taxation and social security
30,199
36,871
Other creditors
20,288
12,478
126,852
134,753
S&B EYECARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
7,270
17,592
Other creditors
1,268
8,581
8,538
26,173
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
9
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Total commitments
78,333
101,833