Registration number: 09556008

Cramlington Eyecare Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Cramlington Eyecare Limited

(Registration number: 09556008)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	17,714	33,931
Current assets
Stocks	6	26,000	26,000
Debtors	7	167,478	90,816
Cash at bank and in hand		12,483	53,840
		205,961	170,656
Creditors: Amounts falling due within one year	8	(211,894)	(160,442)
Net current (liabilities)/assets		(5,933)	10,214
Total assets less current liabilities		11,781	44,145
Creditors: Amounts falling due after more than one year	8	(13,718)	(44,300)
Provisions for liabilities		(4,429)	(8,482)
Net liabilities		(6,366)	(8,637)
Capital and reserves
Called up share capital		100	100
Retained earnings		(6,466)	(8,737)
Shareholders' deficit		(6,366)	(8,637)

Cramlington Eyecare Limited

(Registration number: 09556008)
Balance Sheet as at 31 December 2024

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 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.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

......................................... Mr R Bowers Director

Cramlington Eyecare Limited

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

1	General information

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

The address of its registered office is:
Boots Opticians Cramlington
Unit 10 Dudley Walk Manor
Manor Walks Shopping Centre
Cramlington
Northumberland
NE23 6QW

These financial statements were authorised for issue by the Board on 21 May 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 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 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.

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.

Cramlington Eyecare Limited

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

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
Property improvements	20% Straight line
Office equipment	20% Straight line
Fixtures and fittings	20% Straight line

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
Franchise fee	20% Straight line

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.

Cramlington Eyecare Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

Cramlington Eyecare Limited

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

4	Intangible assets

	Franchise Fee £	Total £
Cost or valuation
At 1 January 2024	5,000	5,000
At 31 December 2024	5,000	5,000
Amortisation
At 1 January 2024	5,000	5,000
At 31 December 2024	5,000	5,000
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	168,527	119,960	288,487
Additions	-	995	995
At 31 December 2024	168,527	120,955	289,482
Depreciation
At 1 January 2024	168,527	86,029	254,556
Charge for the year	-	17,212	17,212
At 31 December 2024	168,527	103,241	271,768
Carrying amount
At 31 December 2024	-	17,714	17,714
At 31 December 2023	-	33,931	33,931

6

Stocks

	2024 £	2023 £
Finished goods and goods for resale	26,000	26,000

Cramlington Eyecare Limited

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

7

Debtors

Current	2024 £	2023 £
Trade debtors	11,200	5,553
Prepayments	9,694	9,259
Other debtors	146,584	76,004
	167,478	90,816

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		19,528	19,314
Trade creditors		57,329	49,174
Taxation and social security		94,136	47,396
Accruals and deferred income		7,133	7,784
Other creditors		33,768	36,774
		211,894	160,442

Creditors include bank loans which are secured of £19,528 (2023 - £19,314).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		13,718	44,300

Creditors include bank loans which are secured of £13,718 (2023 - £44,300).