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REGISTERED NUMBER: 03581315 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 30 SEPTEMBER 2024

FOR

PRAILLS LIMITED

PRAILLS LIMITED (REGISTERED NUMBER: 03581315)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

PRAILLS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024







DIRECTORS: Mr A J Bridges
Mr K Hawabhay
Mr R P Leighton





REGISTERED OFFICE: Clarendon House
63 Downing Street
Farnham
Surrey
GU9 7PN





REGISTERED NUMBER: 03581315 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ

PRAILLS LIMITED (REGISTERED NUMBER: 03581315)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,100 15,513
9,100 15,513

CURRENT ASSETS
Stocks 21,039 17,238
Debtors 6 30,296 7,131
Cash at bank and in hand 99,604 140,919
150,939 165,288
CREDITORS
Amounts falling due within one year 7 43,002 60,349
NET CURRENT ASSETS 107,937 104,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,037

120,452

CREDITORS
Amounts falling due after more than one
year

8

8,333

17,442
NET ASSETS 108,704 103,010

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 8,704 3,010
108,704 103,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:




Mr R P Leighton - Director


PRAILLS LIMITED (REGISTERED NUMBER: 03581315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Praills 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

REVENUE RECOGNITION
Turnover is the amount derived from optician services provided, stated after trade discounts, and net of VAT. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised upon invoicing the customer.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on reducing balance
Equipment - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included 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.

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

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 makes contributions into a recognised UK defined contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Obligations for contributions to defined contribution pension schemes are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

SHORT TERM DEBTORS AND CREDITORS
Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. Any losses arising from impairment are recognised in the income statement in other operating expenses.

PRAILLS LIMITED (REGISTERED NUMBER: 03581315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

GOING CONCERN
The company was acquired by Wilton Optical Ltd on 30 September 2024. Subsequently, the trade and net assets of the company were hived up as a going concern to the parent company. It is the diectors intention that the company will be wound up and struck off the register of companies and therefore on this basis the company can not be considered a going concern. The directors have assessed that this has no effect on these financial statements as all assets and liabilities have been hived up at no less than their carrying values.

REPORTING PERIOD
The reporting period has been shortened due to the acquisition of the company by another entity on 30 September 2024. Therefore, the comparatives are not comparable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 30 September 2024 97,737
AMORTISATION
At 1 January 2024
and 30 September 2024 97,737
NET BOOK VALUE
At 30 September 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements Equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 13,644 43,742 41,306 21,546 120,238
Additions - 250 - - 250
Disposals - - - (1,769 ) (1,769 )
Impairments (1,137 ) - (3,908 ) - (5,045 )
At 30 September 2024 12,507 43,992 37,398 19,777 113,674
DEPRECIATION
At 1 January 2024 11,185 39,460 32,856 21,224 104,725
Charge for period 184 680 634 120 1,618
Eliminated on disposal - - - (1,769 ) (1,769 )
At 30 September 2024 11,369 40,140 33,490 19,575 104,574
NET BOOK VALUE
At 30 September 2024 1,138 3,852 3,908 202 9,100
At 31 December 2023 2,459 4,282 8,450 322 15,513

PRAILLS LIMITED (REGISTERED NUMBER: 03581315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,088 3,410
Directors' current accounts 19,761 -
VAT 2,095 3,263
Accruals 451 -
Prepayments 3,901 458
30,296 7,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,027
Trade creditors 18,218 15,382
Tax 2,816 5,023
Social security and other taxes 2,166 1,915
Directors' current accounts - 20,239
Accrued expenses 9,802 7,763
43,002 60,349

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,333 10,303
Bank loans - 2-5 years - 7,139
8,333 17,442

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 4,314 6,987
Between one and five years - 4,314
4,314 11,301

10. POST BALANCE SHEET EVENTS

On 30 September 2024, the whole of the share capital of the company was acquired by Wilton Optical Ltd.

In November 2024, the company ceased to trade and the assets and the assets and liabilities were hived up to the parent.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PRAILLS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Praills Limited for the period ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Praills Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Praills Limited and state those matters that we have agreed to state to the Board of Directors of Praills Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Praills Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Praills 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 Praills Limited. You consider that Praills Limited is exempt from the statutory audit requirement for the period.

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






Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ


Date: .............................................