Company registration number 08065919 (England and Wales)
BEXLEY EYES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BEXLEY EYES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BEXLEY EYES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
215,634
206,189
Investments
5
32,600
32,600
248,234
238,789
Current assets
Stocks
34,480
50,720
Debtors
6
212,357
228,863
Cash at bank and in hand
797,832
776,868
1,044,669
1,056,451
Creditors: amounts falling due within one year
7
(487,528)
(489,655)
Net current assets
557,141
566,796
Total assets less current liabilities
805,375
805,585
Creditors: amounts falling due after more than one year
8
(53,881)
(62,378)
Provisions for liabilities
(46,422)
(40,178)
Net assets
705,072
703,029
Capital and reserves
Called up share capital
9
105
105
Profit and loss reserves
704,967
702,924
Total equity
705,072
703,029

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has 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 and signed by the director and authorised for issue on 5 June 2025
Mr M Patel
Director
Company Registration No. 08065919
BEXLEY EYES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Bexley Eyes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 130 Aztec, Aztec West, Bristol, United Kingdom, BS32 4UB.

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 spectacles, contact lenses and other related products 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.

Franchise cost
5 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:

Professional equipment
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
Motor vehicles
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

BEXLEY EYES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks of spectacles, contact lenses and related products are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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.

 

 

BEXLEY EYES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
22
22
3
Intangible fixed assets
Franchise
£
Cost
At 1 October 2023 and 30 September 2024
45,690
Amortisation and impairment
At 1 October 2023 and 30 September 2024
45,690
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
4
Tangible fixed assets
Professional equipment
Fixtures & fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
102,993
178,156
79,947
87,820
448,916
Additions
56,496
-
0
3,430
-
0
59,926
At 30 September 2024
159,489
178,156
83,377
87,820
508,842
Depreciation and impairment
At 1 October 2023
56,023
133,697
48,616
4,391
242,727
Depreciation charged in the year
13,109
10,552
9,256
17,564
50,481
At 30 September 2024
69,132
144,249
57,872
21,955
293,208
Carrying amount
At 30 September 2024
90,357
33,907
25,505
65,865
215,634
At 30 September 2023
46,970
44,459
31,331
83,429
206,189
BEXLEY EYES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
32,600
32,600
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
30,448
30,077
Other debtors
181,909
198,786
212,357
228,863
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
266,803
260,485
Corporation tax
24,831
14,255
Other taxation and social security
7,497
11,491
Other creditors
188,397
203,424
487,528
489,655
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
53,881
62,378

Included within creditors is a hire purchase liability of £62,279 (2023: £70,776) which is secured against the assets hired.

 

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
Ordinary B of £1 each
5
5
5
5
105
105
105
105
BEXLEY EYES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
10
Related party transactions

During the year, the company loaned money to MPKP Limited. At the year end, the amount owed from MPKP Limited was £155,970 this amount is included in debtors: amounts falling due within one year. A company with a common director

11
Directors' transactions

Dividends totalling £82,194 (2023 - £89,000) were paid in the year in respect of shares held by the company's directors.

The director operates a current loan amount with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director’s fees. At the yearend the amount outstanding to the director was £15,000 (2023 : £34,478). This amount being included in creditors amounts falling due within one year.

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