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Registration number: 10710958

Salisbury Eyewear Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2025

 

Salisbury Eyewear Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Salisbury Eyewear Limited

Company Information

Directors

Mr M P Sales

Mrs S Sales

Registered office

8 Ashfield Trading Estate
Ashfield Road
Salisbury
Wiltshire
SP2 7HL

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Salisbury Eyewear Limited

(Registration number: 10710958)
Abridged Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

19,059

1,122

Current assets

 

Stocks

5

39,000

38,000

Debtors

9,500

2,188

Cash at bank and in hand

 

50,836

62,103

 

99,336

102,291

Prepayments and accrued income

 

490

1,030

Creditors: Amounts falling due within one year

(88,498)

(76,928)

Net current assets

 

11,328

26,393

Total assets less current liabilities

 

30,387

27,515

Provisions for liabilities

(3,621)

(247)

Accruals and deferred income

 

(2,445)

(3,071)

Net assets

 

24,321

24,197

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

24,221

24,097

Shareholders' funds

 

24,321

24,197

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Salisbury Eyewear Limited

(Registration number: 10710958)
Abridged Balance Sheet as at 31 March 2025 (continued)

Approved and authorised by the Board on 4 August 2025 and signed on its behalf by:
 

.........................................
Mr M P Sales
Director

 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
8 Ashfield Trading Estate
Ashfield Road
Salisbury
Wiltshire
SP2 7HL

These financial statements were authorised for issue by the Board on 4 August 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 abridged 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 abridged 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.

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 and deferred 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.

 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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% Straight Line

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.

Trade 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.

 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

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.

Trade 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.

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.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

16,295

16,295

Additions

19,495

19,495

Disposals

(15,000)

(15,000)

At 31 March 2025

20,790

20,790

Depreciation

At 1 April 2024

15,173

15,173

Charge for the year

1,558

1,558

Eliminated on disposal

(15,000)

(15,000)

At 31 March 2025

1,731

1,731

Carrying amount

At 31 March 2025

19,059

19,059

At 31 March 2024

1,122

1,122

5

Stocks

2025
£

2024
£

Other inventories

39,000

38,000

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

7

Dividends

2025

2024

£

£

Interim dividend of £420.00 (2024 - £230.00) per ordinary share

42,000

23,000

 

 

8

Related party transactions

 

Salisbury Eyewear Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

8

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

38,450

40,910

Summary of transactions with parent

Management charges from Sales Optical Services Ltd for the year are £27,600 (2024: £27,600).

Rent of company premises was charged from Sales Optical Services Ltd of £6,000 (2024: £6,000).

Dividends of £42,000 (2024: £23,000) were paid to Sales Optical Services Ltd for the year.

The amount of £61,000 owed to Sales Optical Services Ltd (2024: £53,000), the parent company, is interest free and repayable on demand.

The amount of £8,000 owed by Semacs Catering Ltd (2024: nil), owned by son of M & S Sales, is interest free and repayable on demand.

9

Parent and ultimate parent undertaking

The company's immediate parent is Sales Optical Services Ltd, incorporated in United Kingdom.

 The ultimate controlling party is Mr M P Sales & Mrs S Sales.