REGISTERED NUMBER: 01305552 (England and Wales)

GWYNNS OPTICIANS GROUP LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Rees

K Hobby

D C Evans

J Tombs

M J O Jones

C Evans

SECRETARY:

P D Rees

REGISTERED OFFICE:

72a Taff Street

Pontypridd

Mid Glam

CF37 4SU

REGISTERED NUMBER:

01305552 (England and Wales)

FIXED ASSETS

Tangible assets

4

223,070

228,492

CURRENT ASSETS

Stocks

5

142,231

151,837

Debtors

6

192,477

129,147

Cash at bank

152,736

165,185

487,444

446,169

CREDITORS

Amounts falling due within one year

7

223,564

259,789

NET CURRENT ASSETS

263,880

186,380

TOTAL ASSETS LESS CURRENT LIABILITIES

486,950

414,872

CREDITORS

Amounts falling due after more than one year

8

(18,567

)

(32,484

)

PROVISIONS FOR LIABILITIES

10

(51,330

)

(51,970

)

NET ASSETS

417,053

330,418

CAPITAL AND RESERVES

Called up share capital

11

96,000

96,000

Capital redemption reserve

14,000

14,000

Retained earnings

307,053

220,418

SHAREHOLDERS' FUNDS

417,053

330,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

P D Rees - Director

1.	STATUTORY INFORMATION

Gwynns Opticians Group Limited is a private company, limited by shares , registered in England and Wales. 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.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the directors have their reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2 above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover represents the total value of goods and services provided to the customers, excluding VAT. Revenue from the sale of optical products, such as glasses and lenses, is recognised at the point of sale when ownership and risks transfer to the customer. Revenue from services, including eye examinations, is recognised when the service is performed and the customer has received the benefit.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

The cost of any unused holiday entitlement is recognised in the period in which the employee's

services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminating the employment of an employee.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2024 - 52 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2024

20,619

455,426

29,454

505,499

Additions

-

29,687

2,629

32,316

At 30 April 2025

20,619

485,113

32,083

537,815

DEPRECIATION

At 1 May 2024

-

250,832

26,175

277,007

Charge for year

-

35,782

1,956

37,738

At 30 April 2025

-

286,614

28,131

314,745

NET BOOK VALUE

At 30 April 2025

20,619

198,499

3,952

223,070

At 30 April 2024

20,619

204,594

3,279

228,492

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

fittings

£

COST

At 1 May 2024

and 30 April 2025

90,107

DEPRECIATION

At 1 May 2024

45,842

Charge for year

6,640

At 30 April 2025

52,482

NET BOOK VALUE

At 30 April 2025

37,625

At 30 April 2024

44,265

5.

STOCKS

2025

2024

£

£

Stocks

142,231

151,837

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

85,676

115,559

Other debtors

104,320

8,658

Prepayments

2,481

4,930

192,477

129,147

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

8,632

16,656

Hire purchase contracts

6,635

8,944

Trade creditors

58,455

84,420

Tax

113,325

109,749

Social security and other taxes

18,852

16,211

Other creditors

4,341

8,228

Deferred goverment grants

4,174

6,261

Accrued expenses

9,150

9,320

223,564

259,789

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans

5,407

11,981

Hire purchase contracts

13,160

20,503

18,567

32,484

9.	SECURED DEBTS

The company's bankers, Barclays Bank PLC, hold a debenture comprising fixed and floating charges over all property and assets of the company.

Hire purchase contracts relate to fixtures and fittings for the use of the company and are secured against the assets which it relates.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

51,330

51,970

Deferred

tax

£

Balance at 1 May 2024

51,970

Accelerated capital allowances

(640

)

Balance at 30 April 2025

51,330

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

110,000

Ordinary

£1

96,000

96,000

12.	POST BALANCE SHEET EVENTS

After the year end, on 31 October 2025, the company purchased 20,000 Ordinary shares from shareholder C Evans, for a total consideration of £175,000. The transaction was completed under the Companies Act 2006 relating to the purchase of own shares. The shares were cancelled following the acquisition.

This is a non-adjusting post balance sheet event, and therefore the financial effect of the transaction has not been reflected in these financial statements.

13.	PENSION COST

The pension cost represents contributions payable by the company to the fund and amounted to £41,557 (2024 - £41,955).