Association of British Dispensing Opticians (The) Company accounts

COMPANY REGISTRATION NUMBER: 02012484

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Financial Statements

31 December 2024

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2024

Contents	Pages

Officers and professional advisers	1

Directors' report	2 to 4

Independent auditor's report to the members	5 to 8

Statement of income and retained earnings	9

Statement of financial position	10

Notes to the financial statements	11 to 16

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Officers and Professional Advisers

The board of directors	Mr K Gutsell FBDO (Hons) SLD
	Mr A Bridge
	Mrs B A Rennie FBDO
	Mr D Russell
	Ms G Twyning
	Ms L Bleasdale FBDO
	Ms D A Bill
	Ms K O'Donnell
	Ms S J Gilbert

Registered office	Unit 2 Court Lodges
	Godmersham Park
	Godmersham
	Canterbury
	England
	CT4 7DT

Auditor	Burgess Hodgson Audit Limited
	Chartered accountants & statutory auditor
	Camburgh House
	27 New Dover Road
	Canterbury
	Kent
	CT1 3DN

Bankers	Barclays Bank Plc
	Level 27
	1 Churchill Place
	London
	E14 5HP

Solicitors	Hempsons
	40 Villiers Street
	London
	WC2N 6NJ

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Directors' Report

Year ended 31 December 2024

The directors present their report and the financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

Mrs S Begum FBDO
Mr K Gutsell FBDO (Hons) SLD
Mr A Bridge
Mrs B A Rennie FBDO
Ms L Bleasdale FBDO

Mr D Russell	(Appointed 5 November 2024)
Ms G Twyning	(Appointed 5 November 2024)
Ms D A Bill	(Appointed 5 November 2024)
Ms K O'Donnell	(Appointed 5 November 2024)
Ms S J Gilbert	(Appointed 5 November 2024)
Ms J A R Lees FBDO	(Resigned 8 November 2024)
Mr D V E Newsome FBDO R CL SMC (Tech)	(Resigned 15 May 2024)
Mr A Symonds	(Served from 24 January 2024 to 5 November 2024)
Mr S Harding	(Served from 22 May 2024 to 5 November 2024)

Directors' responsibilities statement

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 22 September 2025 and signed on behalf of the board by:

Mr K Gutsell FBDO (Hons) SLD	Mr A Bridge
Director	Secretary

Registered office:

Unit 2 Court Lodges

Godmersham Park

Godmersham

Canterbury

England

CT4 7DT

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Independent Auditor's Report to the Members of Association of British Dispensing Opticians (The)

Year ended 31 December 2024

Opinion

We have audited the financial statements of Association of British Dispensing Opticians (The) (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered; the nature of the industry, control environment and business performance with particular reference to the Company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets. Throughout the audit testing we are considering the incentives that may exist within the organisation for fraud. Key areas include timing of recognising income around the year end, posting of unusual journals and manipulating the Company's performance measures to meet targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We ensure we have an understanding of the relevant laws and regulations and remain alert to possible non-compliance throughout the audit. Despite proper planning and audit work in accordance with auditing standards there are inherent limitations and unavoidable risk that we may not detect some irregularities and material misstatements in the financial statements. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Roderick Archibald

(Senior Statutory Auditor)

For and on behalf of

Burgess Hodgson Audit Limited

Chartered accountants & statutory auditor

Camburgh House

27 New Dover Road

Canterbury

Kent

CT1 3DN

26 September 2025

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Turnover	3,959,814	3,292,228

Cost of sales	1,244,857	1,191,602
	------------	------------
Gross profit	2,714,957	2,100,626

Administrative expenses	3,348,059	3,354,462
Other operating income	563,732	645,220
	------------	------------
Operating loss	( 69,370)	( 608,616)

Other interest receivable and similar income		3,030	2,113
Interest payable and similar expenses		9,584	6,553
		------------	------------
Loss before taxation	7	( 75,924)	( 613,056)

Tax on loss	576	495
	--------	---------
Loss for the financial year and total comprehensive income	( 76,500)	( 613,551)
	--------	---------

Retained earnings at the start of the year	888,993	1,502,544
	---------	------------
Retained earnings at the end of the year	812,493	888,993
	---------	------------

All the activities of the company are from continuing operations.

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	8	134,216	49,667
Tangible assets	9	799,659	933,129
		---------	---------
		933,875	982,796

Current assets

Debtors	10	477,383	773,285
Cash at bank and in hand		453,352	178,877
		---------	---------
		930,735	952,162

Creditors: amounts falling due within one year	11	1,052,117		1,045,965
		------------		------------
Net current liabilities			121,382	93,803
			---------	---------
Total assets less current liabilities			812,493	888,993
			---------	---------
Net assets			812,493	888,993
			---------	---------

Capital and reserves

Profit and loss account	812,493	888,993
	---------	---------
Members funds	812,493	888,993
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

Mr K Gutsell FBDO (Hons) SLD	Mr A Bridge
Director	Secretary

Company registration number: 02012484

Association of British Dispensing Opticians (The)

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 2 Court Lodges, Godmersham Park, Godmersham, Canterbury, CT4 7DT, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided, net of discounts, VAT and other sales-related taxes. Income from examination fees and membership subscriptions is recognised in the period in which the related services are provided. Examination income is recognised in the financial year in which the relevant examination takes place. Membership subscription income is recognised on a straight-line basis over the period of membership to which it relates. Income received in advance of the provision of the related service is deferred and included within creditors as deferred income. Such amounts are released to income in the period when the service is delivered.

Income tax

Current tax is recognised in profit or loss on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Amortisation occurs once the asset is brought into use.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Course development	-	20% straight line
Website development	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

All fixed assets are initially recorded at cost. Depreciation occurs once the asset is brought into use.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Aston Equipment	-	5% straight line
Fixtures and fittings	-	20% - 33% Straight line
Leasehold	-	10% straight line
Computer Hardware	-	33% straight line

	Computer Software	-	10 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value."

Defined contribution plans

The company contributes to the personal pension plans of certain employees, subject to a maximum of 10% of the employee's annual salary. Such contributions are held independently of the company's finances. The contributions made are charged to the profit and loss account as they arise.

4. Company limited by guarantee

The company is limited by guarantee, not having share capital. In the event of the winding-up of the company each member of the Association undertakes to contribute such amount as may be required, not exceeding £20, either whilst a member or within one year of their membership ceasing.

5. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	19,250	18,250
	--------	--------

During the year, the company's auditor changed from Burgess Hodgson LLP to Burgess Hodgson Audit Limited following a change in legal structure of the audit firm. The responsible individual remains the same.

6. Employee numbers

The average number of persons employed by the company during the year amounted to 28 (2023: 29 ).

7. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Amortisation of intangible assets	29,484	43,122
Depreciation of tangible assets	141,383	141,763
	---------	---------

8. Intangible assets

	Course Development	Website	Total
	£	£	£
Cost
At 1 January 2024	–	291,565	291,565
Additions	102,188	11,845	114,033
	---------	---------	---------
At 31 December 2024	102,188	303,410	405,598
	---------	---------	---------
Amortisation
At 1 January 2024	–	241,898	241,898
Charge for the year	11,314	18,170	29,484
	---------	---------	---------
At 31 December 2024	11,314	260,068	271,382
	---------	---------	---------
Carrying amount
At 31 December 2024	90,874	43,342	134,216
	---------	---------	---------
At 31 December 2023	–	49,667	49,667
	---------	---------	---------

9. Tangible assets

	Aston Equipment	Fixtures and fittings	Leasehold	Computer Hardware	Computer Software	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	580,540	9,366	7,492	29,746	1,044,964	1,672,108
Additions	–	–	–	7,913	–	7,913
	---------	-------	-------	--------	------------	------------
At 31 Dec 2024	580,540	9,366	7,492	37,659	1,044,964	1,680,021
	---------	-------	-------	--------	------------	------------
Depreciation
At 1 Jan 2024	155,272	4,058	4,494	23,551	551,604	738,979
Charge for the year	29,027	1,874	751	5,235	104,496	141,383
	---------	-------	-------	--------	------------	------------
At 31 Dec 2024	184,299	5,932	5,245	28,786	656,100	880,362
	---------	-------	-------	--------	------------	------------
Carrying amount
At 31 Dec 2024	396,241	3,434	2,247	8,873	388,864	799,659
	---------	-------	-------	--------	------------	------------
At 31 Dec 2023	425,268	5,308	2,998	6,195	493,360	933,129
	---------	-------	-------	--------	------------	------------

10. Debtors

	2024	2023
	£	£
Trade debtors	293,872	295,023
Other debtors	183,511	478,262
	---------	---------
	477,383	773,285
	---------	---------

11. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	133,974	196,632
Amounts owed to group undertakings	283,958	101,311
Accruals and deferred income	576,636	704,737
Corporation tax	576	495
Social security and other taxes	45,335	36,414
Other creditors	11,638	6,376
	------------	------------
	1,052,117	1,045,965
	------------	------------

Loans and debentures are secured by way of fixed and floating charges against the company's assets and undertakings.

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	566,919	616,614
Later than 1 year and not later than 5 years	1,415,753	1,438,597
Later than 5 years	–	361,515
	------------	------------
	1,982,672	2,416,726
	------------	------------

13. Related party transactions

The Association of British Dispensing Opticians, a company limited by guarantee, was controlled throughout the year by its members. The Association of British Dispensing Opticians charged The ABDO College of Education £200,000 (2023: £271,000) in respect of administrative salaries. At the year end The Association of British Dispensing Opticians owed £283,958 (2023: £101,311) to The ABDO College of Education. The Association of British Dispensing Opticians is a member of The ABDO College of Education whose trustees include up to six trustees appointed by The Association of British Dispensing Opticians. At the year end The Association of British Dispensing Opticians owed £11,638 (2023: £6,376) to The ABDO Benevolent Fund, a connected charity.