K D Wallace Eyecare Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC473029

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		10,921		5,235

			10,921		5,235
CURRENT ASSETS
Stocks	6	13,144		13,800
Debtors	7	14,567		10,359
Cash at bank and in hand		32,339		18,212

		60,050		42,371
Creditors: Amounts Falling Due Within One Year	8	(30,761 )		(22,946 )

NET CURRENT ASSETS (LIABILITIES)			29,289		19,425

TOTAL ASSETS LESS CURRENT LIABILITIES			40,210		24,660

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,075 )		(995 )

NET ASSETS			38,135		23,665

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			38,035		23,565

SHAREHOLDERS' FUNDS			38,135		23,665

Page 1

Page 2

K D Wallace Eyecare Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Kevin Wallace

Director

27/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

K D Wallace Eyecare Limited is a private company, limited by shares, incorporated in Scotland, registered number SC473029 . The registered office is 238 Queensferry Road, Edinburgh, EH4 2BP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

Page 3

Page 4

K D Wallace Eyecare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2024	10,000

As at 31 January 2025	10,000

Amortisation
As at 1 February 2024	10,000

As at 31 January 2025	10,000

Net Book Value
As at 31 January 2025	-

As at 1 February 2024	-

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 February 2024	13,356
Additions	7,826

As at 31 January 2025	21,182

Depreciation
As at 1 February 2024	8,121
Provided during the period	2,140

As at 31 January 2025	10,261

Net Book Value
As at 31 January 2025	10,921

As at 1 February 2024	5,235

6. Stocks

	2025	2024
	£	£
Materials	13,144	13,800

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	5,689	5,139
Other debtors	8,878	5,220

	14,567	10,359

Page 4

Page 5

K D Wallace Eyecare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	24,595	14,960
Other creditors	1,484	2,458
Taxation and social security	4,682	5,528

	30,761	22,946

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Related Party Transactions

The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.

11. Ultimate Controlling Party

The company's ultimate controlling parties are Mr and Mrs Wallace by virtue of their equal ownership of 100% of the issued share capital in the company.