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REGISTERED NUMBER: 06665454 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2024

FOR

HAYES OPTICIANS LTD

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAYES OPTICIANS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2024







DIRECTOR: Mrs L A Hayes



REGISTERED OFFICE: 9a Ilsham Road
Wellswood
Torquay
Devon
TQ1 2JG



REGISTERED NUMBER: 06665454 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Natwest Plc
15 Victoria Street
Paignton
Devon
TQ4 5DE

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

BALANCE SHEET
30 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,185 1,580
Tangible assets 5 34,564 35,289
35,749 36,869

CURRENT ASSETS
Stocks 6 33,492 30,000
Debtors 7 43,473 23,288
Cash at bank 28,353 46,265
105,318 99,553
CREDITORS
Amounts falling due within one year 8 49,432 80,128
NET CURRENT ASSETS 55,886 19,425
TOTAL ASSETS LESS CURRENT LIABILITIES 91,635 56,294

CREDITORS
Amounts falling due after more than one
year

9

(27,054

)

(32,725

)

PROVISIONS FOR LIABILITIES (6,148 ) (6,330 )
NET ASSETS 58,433 17,239

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 58,333 17,139
SHAREHOLDERS' FUNDS 58,433 17,239

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

BALANCE SHEET - continued
30 DECEMBER 2024


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 director and authorised for issue on 30 June 2025 and were signed by:





Mrs L A Hayes - Director


HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024


1. STATUTORY INFORMATION

Hayes Opticians Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures fittings & equipment - 20% on reducing balance
Computer equipment - 25% on cost

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 year 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Software
£   
COST
At 31 December 2023
and 30 December 2024 1,975
AMORTISATION
At 31 December 2023 395
Amortisation for year 395
At 30 December 2024 790
NET BOOK VALUE
At 30 December 2024 1,185
At 30 December 2023 1,580

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and fittings
leasehold machinery & equipment
£    £    £   
COST
At 31 December 2023 27,502 46,556 48,598
Additions - - 1,436
At 30 December 2024 27,502 46,556 50,034
DEPRECIATION
At 31 December 2023 20,441 22,604 45,277
Charge for year 1,375 4,791 951
At 30 December 2024 21,816 27,395 46,228
NET BOOK VALUE
At 30 December 2024 5,686 19,161 3,806
At 30 December 2023 7,061 23,952 3,321

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 31 December 2023 - 3,624 126,280
Additions 6,473 1,342 9,251
At 30 December 2024 6,473 4,966 135,531
DEPRECIATION
At 31 December 2023 - 2,669 90,991
Charge for year 1,618 1,241 9,976
At 30 December 2024 1,618 3,910 100,967
NET BOOK VALUE
At 30 December 2024 4,855 1,056 34,564
At 30 December 2023 - 955 35,289

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 31 December 2023 41,571 - 3,429 45,000
Additions - 6,473 - 6,473
At 30 December 2024 41,571 6,473 3,429 51,473
DEPRECIATION
At 31 December 2023 20,286 - 2,571 22,857
Charge for year 4,257 1,618 857 6,732
At 30 December 2024 24,543 1,618 3,428 29,589
NET BOOK VALUE
At 30 December 2024 17,028 4,855 1 21,884
At 30 December 2023 21,285 - 858 22,143

6. STOCKS
2024 2023
£    £   
Stocks 33,492 30,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,715 -
Directors' current accounts 33,758 23,288
43,473 23,288

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,657 10,107
Hire purchase contracts (see note 10) 14,050 11,291
Trade creditors 11,988 -
Tax 12,209 12,407
Social security and other taxes - 1,314
Pension creditor 289 -
VAT 6,026 4,640
Other creditors - 38,472
Accrued expenses 2,213 1,897
49,432 80,128

HAYES OPTICIANS LTD (REGISTERED NUMBER: 06665454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 18,957 16,523
Hire purchase contracts (see note 10) 8,097 16,202
27,054 32,725

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 14,050 11,291
Between one and five years 8,097 16,202
22,147 27,493

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 December 2024 and 30 December 2023:

2024 2023
£    £   
Mrs L A Hayes
Balance outstanding at start of year 23,288 13,950
Amounts advanced 68,587 37,918
Amounts repaid (58,117 ) (28,580 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,758 23,288

The Director Mrs L Hayes has given a personal guarantee in respect of the company's overdraft facility and bank loan.

12. GOVERNMENT GUARANTEED LOAN

The bank loan of £21,616 is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to July 2031.