Registered number
05278831
Glass & Glass Optometrists Ltd
Filleted Accounts
30 April 2025
Glass & Glass Optometrists Ltd
Registered number: 05278831
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 102,762 137,016
Current assets
Stocks 79,564 68,787
Debtors 4 27,789 139,683
Cash at bank and in hand 27,585 26,710
134,938 235,180
Creditors: amounts falling due within one year 5 (73,238) (180,037)
Net current assets 61,700 55,143
Total assets less current liabilities 164,462 192,159
Creditors: amounts falling due after more than one year 6 (22,294) (38,444)
Provisions for liabilities (25,691) (34,254)
Net assets 116,477 119,461
Capital and reserves
Called up share capital 2 2
Profit and loss account 116,475 119,459
Shareholder's funds 116,477 119,461
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V Measuria
Director
Approved by the board on 25 August 2025
Glass & Glass Optometrists Ltd
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 20% reducing balance
Fixtures and fittings 20% reducing balance
Computer equipments 33% Straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 12 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024 536,541
At 30 April 2025 536,541
Depreciation
At 1 May 2024 399,525
Charge for the year 34,254
At 30 April 2025 433,779
Net book value
At 30 April 2025 102,762
At 30 April 2024 137,016
4 Debtors 2025 2024
£ £
Amounts owed by related parties 17,109 78,109
Other debtors 10,680 61,574
27,789 139,683
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 11,632 9,480
Trade creditors 45,844 134,061
Taxation and social security costs 9,700 34,582
Other creditors 6,062 1,914
73,238 180,037
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 22,294 38,444
7 Related party transactions
Glass and Glass Optometrists Ltd is a wholly owned subsidiary of The Eyecare Group Limited, a holding company incorporated in England and Wales. The parent company holds 100% of the ordinary share capital of the company.
At the year end, an amount of £17,109 was due from the parent company, included in debtors. The balance is unsecured, interest-free, and repayable on demand.
The company is also under common control with DW Harrison Eyecare Limited amd Alaina Homes Limited, which is owned by the same director. No transactions occurred between the companies during the year, and no balances were outstanding at the year end.
8 Other information
Glass & Glass Optometrists Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 Wenlock Road
London
England
N1 7GU
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