REGISTERED NUMBER: SC215769 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Simpson Opticians Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

E Simpson

SECRETARY:

M Simpson

REGISTERED OFFICE:

Pavilion 1

Finnieston Business Park

Minerva Way

Glasgow

G3 8AU

REGISTERED NUMBER:

SC215769 (Scotland)

ACCOUNTANTS:

Gerber Landa & Gee

Chartered Accountants

Pavilion 1

Finnieston Business Park

Minerva Way

GLASGOW

G3 8AU

FIXED ASSETS

Intangible assets

4

360

5,730

Tangible assets

5

146,949

163,023

Investment property

6

94,195

94,195

241,504

262,948

CURRENT ASSETS

Stocks

27,216

26,981

Debtors

7

55,318

47,089

Cash at bank

279,488

272,836

362,022

346,906

CREDITORS

Amounts falling due within one year

8

68,587

60,659

NET CURRENT ASSETS

293,435

286,247

TOTAL ASSETS LESS CURRENT LIABILITIES

534,939

549,195

PROVISIONS FOR LIABILITIES

7,383

9,037

NET ASSETS

527,556

540,158

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

108,490

108,490

Retained earnings

419,064

431,666

SHAREHOLDERS' FUNDS

527,556

540,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 13 August 2025 and were signed by:

E Simpson - Director

1.	STATUTORY INFORMATION

Simpson Opticians Limited is a private company, limited by shares , registered in Scotland. 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

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill represents the amounts paid in connection with business purchases in December 2015 and February 2019 and are being amortised over a period of 10 years. Also included within goodwill is a balance relating to a business purchase in 2001 which has been fully amortised although the asset is still retained.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

10% on cost and 2% on cost

Plant and machinery etc

-

25% on cost, 20% on cost and 15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 17 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

86,699

AMORTISATION

At 1 April 2024

80,969

Charge for year

5,370

At 31 March 2025

86,339

NET BOOK VALUE

At 31 March 2025

360

At 31 March 2024

5,730

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

180,224

274,594

454,818

Additions

-

15,566

15,566

At 31 March 2025

180,224

290,160

470,384

DEPRECIATION

At 1 April 2024

56,152

235,643

291,795

Charge for year

9,222

22,418

31,640

At 31 March 2025

65,374

258,061

323,435

NET BOOK VALUE

At 31 March 2025

114,850

32,099

146,949

At 31 March 2024

124,072

38,951

163,023

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2025

110,000

-

110,000

Cost

70,224

290,160

360,384

180,224

290,160

470,384

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

94,195

NET BOOK VALUE

At 31 March 2025

94,195

At 31 March 2024

94,195

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

50,132

42,746

Prepayments

5,186

4,343

55,318

47,089

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

36,800

26,409

Tax

24,371

26,115

VAT

671

499

Accrued expenses

5,095

5,536

Deferred government grants

1,650

2,100

68,587

60,659

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

16,000

16,000

Between one and five years

-

16,000

16,000

32,000

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

108,490