Registration number: 05252733

Martin Johnson Opticians Ltd

(Registration number: 05252733)

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	3	-	18,750
Tangible assets	4	25,305	30,487
		25,305	49,237
Current assets
Stocks		81,777	72,593
Debtors		316,986	255,961
Cash at bank and in hand		5,963	7,083
		404,726	335,637
Creditors: Amounts falling due within one year	6	(110,683)	(102,480)
Net current assets		294,043	233,157
Total assets less current liabilities		319,348	282,394
Creditors: Amounts falling due after more than one year	6	(9,580)	(21,610)
Provisions for liabilities		(4,466)	(5,254)
Net assets		305,302	255,530
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		304,302	254,530
Shareholders' funds		305,302	255,530

For the financial year ending 31 December 2024 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Martin Johnson Opticians Ltd

(Registration number: 05252733)

Balance Sheet as at 31 December 2024 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 26 September 2025 and signed on its behalf by:
 

.........................................

Mr Martin Lockwood Johnson

Director

.........................................

Mrs Louise Gordon

Director

.........................................

Mrs Paula Hobson

Director

Martin Johnson Opticians Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Accounting policies

Statutory information

Martin Johnson Opticians Ltd is a private company, limited by shares, domiciled in England and Wales, company number 05252733. The registered office is at 13 Middlewood Road Sheffield, S6 4GU.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

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.

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.

Martin Johnson Opticians Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1	Accounting policies (continued)

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets shall be 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.

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
Fixtures and fittings	15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Stocks

Stocks are stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Martin Johnson Opticians Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1	Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

3	Intangible assets

Martin Johnson Opticians Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3	Intangible assets (continued)

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	450,000	450,000
At 31 December 2024	450,000	450,000
Amortisation
At 1 January 2024	431,250	431,250
Amortisation charge	18,750	18,750
At 31 December 2024	450,000	450,000
Carrying amount
At 31 December 2024	-	-
At 31 December 2023	18,750	18,750

Martin Johnson Opticians Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Total £
Cost
At 1 January 2024	79,069	79,069
At 31 December 2024	79,069	79,069
Depreciation
At 1 January 2024	48,582	48,582
Charge for the year	5,182	5,182
At 31 December 2024	53,764	53,764
Carrying amount
At 31 December 2024	25,305	25,305
At 31 December 2023	30,487	30,487

5

Debtors

		2024  £	2023  £
Trade debtors		11,877	8,476
Amounts owed by parent undertaking		300,480	241,879
Other debtors		312	1,289
Prepayments		4,317	4,317
		316,986	255,961

Martin Johnson Opticians Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

		2024  £	2023  £
Due within one year
Bank loans		10,000	10,000
HP and finance lease liabilities		2,030	2,031
Trade creditors		23,000	33,866
Social security and other taxes		10,603	-
Outstanding defined contribution pension costs		1,348	2,146
Other payables		19,002	21,744
Accrued expenses		5,181	7,176
Corporation tax		39,519	25,517
		110,683	102,480
Due after one year
Bank loans		4,167	14,167
HP and finance lease liabilities		5,413	7,443
		9,580	21,610

7	Parent and ultimate parent undertaking

The company's immediate parent company is MJO Holdings Limited through its 100% shareholding in the entity. The company's ultimate controlling party is the directors through their shareholding in the parent company.