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REGISTERED NUMBER: 02428533 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED

HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED (REGISTERED NUMBER: 02428533)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: P R Morgan





REGISTERED OFFICE: 3 Bank Buildings
The Avenue
Highams Park
London
E4 9LE





REGISTERED NUMBER: 02428533 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED (REGISTERED NUMBER: 02428533)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,380 24,440
Investment property 5 - 450,000
20,380 474,440

CURRENT ASSETS
Stocks 54,387 58,528
Debtors 6 26,564 11,656
Cash at bank and in hand 194,513 20,660
275,464 90,844
CREDITORS
Amounts falling due within one year 7 133,640 106,371
NET CURRENT ASSETS/(LIABILITIES) 141,824 (15,527 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,204

458,913

CREDITORS
Amounts falling due after more than one
year

8

-

(13,835

)

PROVISIONS FOR LIABILITIES 11 (535 ) (57,028 )
NET ASSETS 161,669 388,050

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 12 - 297,018
Retained earnings 161,569 90,932
SHAREHOLDERS' FUNDS 161,669 388,050

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2025 and were signed by:





P R Morgan - Director


HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED (REGISTERED NUMBER: 02428533)

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


1. STATUTORY INFORMATION

Henry Morgan Ophthalmic Opticians 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 and going concern
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
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes.

Revenue is recognised in the accounting period in which the services were rendered.

Sales of goods are recognised on sale to the customer, which is considered to be the point of delivery and when the significant risks and rewards of the goods have been passed to the customer. Retail sales are usually by cash, credit or payment card.

Rents received from the company's investment property are recognised using the accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Improvements to property10% on cost
Plant and machinery10% on cost


Investment property
Investment properties are shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement, net of deferred tax. On an annual basis, this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "revaluation reserve".

Stocks
Stock is stated at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on an average cost (or first in first out) basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED (REGISTERED NUMBER: 02428533)

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


2. ACCOUNTING POLICIES - continued
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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

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 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 December 2023 110,926 250,822 361,748
Additions - 1,043 1,043
At 30 November 2024 110,926 251,865 362,791
DEPRECIATION
At 1 December 2023 101,966 235,342 337,308
Charge for year 1,120 3,983 5,103
At 30 November 2024 103,086 239,325 342,411
NET BOOK VALUE
At 30 November 2024 7,840 12,540 20,380
At 30 November 2023 8,960 15,480 24,440

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 450,000
Disposals (450,000 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 450,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 26,564 11,656

HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED (REGISTERED NUMBER: 02428533)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) - 6,387
Trade creditors 48,285 56,451
Taxation and social security 1,927 8,305
Other creditors 83,428 35,228
133,640 106,371

The Director has offered a personal guarantee against the bank overdraft.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) - 13,835

The bank loan was fully repaid during the year.

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year - 6,387

Amounts falling due between one and two years:
Bank loans - 1-2 years - 6,387

Amounts falling due between two and five years:
Bank loans - 2-5 years - 7,448

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 43,700 49,576
Between one and five years 108,000 13,897
In more than five years 27,000 -
178,700 63,473

The above leases relate to the company's business premises.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Timing differences 3,135 59,628
Tax losses (2,600 ) (2,600 )
535 57,028

HENRY MORGAN OPHTHALMIC OPTICIANS
LIMITED (REGISTERED NUMBER: 02428533)

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


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2023 57,028
Provided during year (56,493 )
Balance at 30 November 2024 535

12. RESERVES
Revaluation
reserve
£   
At 1 December 2023 297,018
Transfer of revaluation
surplus (297,018 )

At 30 November 2024 -

13. POST BALANCE SHEET EVENTS

As at the date of signing the accounts, the shareholder is in advanced talks on the sale of the company to a third party. The expectation is that the deal will likely be completed in September 2025, though there is no absolute certainty as to this. Nevertheless, due to the significance of this matter the Director has taken the decision to disclose.

14. ULTIMATE CONTROLLING PARTY

P R Morgan is the ultimate controlling party in this and the preceding year.