REGISTERED NUMBER: 06861372 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Spectacular (EA) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

5

-

83,333

Tangible assets

6

1,664,361

1,769,678

1,664,361

1,853,011

Current assets

Stocks

220,070

222,881

Debtors

7

537,874

391,086

Cash at bank and in hand

91,687

3,938

849,631

617,905

Creditors

Amounts falling due within one year

8

(1,479,105

)

(1,271,821

)

Net current liabilities

(629,474

)

(653,916

)

Total assets less current liabilities

1,034,887

1,199,095

Creditors

Amounts falling due after more than one year

9

(179,566

)

(175,425

)

Provisions for liabilities

(101,929

)

(120,799

)

Net assets

753,392

902,871

Capital and reserves

Called up share capital

2,700

2,700

Capital redemption reserve

400

400

Retained earnings

750,292

899,771

753,392

902,871

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

Mr S T Gibbs - Director

1.	Statutory information

Spectacular (EA) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06861372

Registered office:

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention or historic cost modified by revaluation of financial assets and financial liabilities held at fir value through profit and loss, except for the financial instruments that are measured at their fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal accounting policies adopted are set out below. All accounting policies have been applied consistently, other than where new policies have been adopted.

Going Concern

The director believes that the company is well placed to manage its financial risks successfully and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and have therefore accordingly prepared these financial statements on a going concern basis.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements in conformity with FRS 102 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.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See notes to the accounts for the carrying amount of tangible assets and the useful economic lives for each class of assets.

(ii) Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with the previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised for sales transactions to the extent that economic benefits will flow to the Company and the amount of turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the Company's activities. It is stated net of discounts, rebates, Value Added Tax and other sales taxes.

The following criteria must also be met before turnover from a sale can be recognised:

Turnover from the sale of prescription glasses is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of the goods), the amount of turnover can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property

-

2% straight line

Long leasehold

-

2% straight line

Plant and machinery

-

15% p.a. reducing balance

Motor vehicles

-

25% p.a. reducing balance

Computer equipment

-

20% p.a. reducing balance

Stocks

Stocks are measured at the lower of cost and net realisable value. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	Employees and directors

The average number of employees during the year was 40 (2024 - 44 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2024

and 31 March 2025

1,190,435

Amortisation

At 1 April 2024

1,107,102

Amortisation for year

83,333

At 31 March 2025

1,190,435

Net book value

At 31 March 2025

-

At 31 March 2024

83,333

6.	Tangible fixed assets

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

Cost

At 1 April 2024

and 31 March 2025

1,440,736

31,407

914,543

Depreciation

At 1 April 2024

171,415

31,299

430,283

Charge for year

28,813

30

72,816

At 31 March 2025

200,228

31,329

503,099

Net book value

At 31 March 2025

1,240,508

78

411,444

At 31 March 2024

1,269,321

108

484,260

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 April 2024

and 31 March 2025

21,389

32,470

2,440,545

Depreciation

At 1 April 2024

12,234

25,636

670,867

Charge for year

2,289

1,369

105,317

At 31 March 2025

14,523

27,005

776,184

Net book value

At 31 March 2025

6,866

5,465

1,664,361

At 31 March 2024

9,155

6,834

1,769,678

7.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade debtors

25,195

22,953

Other debtors

512,679

368,133

537,874

391,086

8.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Bank loans and overdrafts

8,333

58,607

Hire purchase contracts

18,385

16,905

Trade creditors

505,321

482,430

Taxation and social security

38,247

77,844

Other creditors

908,819

636,035

1,479,105

1,271,821

9.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

£

Bank loans

2,778

62,129

Hire purchase contracts

39,660

58,045

Other creditors

137,128

55,251

179,566

175,425

Amounts falling due in more than five years:

Repayable by instalments

Debentures more

5yrs-instalm

33,944

-

10.	Related party disclosures

No transactions were undertaken with the directors or other related parties such as are required to be disclosed under the Financial Reporting Standard 102, Section 1A.