REGISTERED NUMBER: SC532418 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2025

for

Forde Opticians Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr F A Forde

REGISTERED OFFICE:

Knightswood Shopping Centre

734 Anniesland Road

Glasgow

G14 0YU

REGISTERED NUMBER:

SC532418 (Scotland)

ACCOUNTANTS:

Greg Hannah Ltd

Chartered Accountants

26 Victoria Street

Rutherglen

Glasgow

G73 1DS

FIXED ASSETS

Intangible assets

5

283,333

308,333

Tangible assets

6

116,300

123,801

399,633

432,134

CURRENT ASSETS

Stocks

57,066

52,000

Debtors

7

139,947

165,479

Cash at bank and in hand

40,256

34,938

237,269

252,417

CREDITORS

Amounts falling due within one year

8

126,765

121,995

NET CURRENT ASSETS

110,504

130,422

TOTAL ASSETS LESS CURRENT LIABILITIES

510,137

562,556

CREDITORS

Amounts falling due after more than one year

9

(151,318

)

(208,046

)

PROVISIONS FOR LIABILITIES

(2,825

)

(3,450

)

NET ASSETS

355,994

351,060

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

355,894

350,960

355,994

351,060

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 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 5 January 2026 and were signed by:

Mr F A Forde - Director

1.	STATUTORY INFORMATION

Forde Opticians Ltd 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.	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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is derived from optical services supplied by the company.

Turnover is measured at the fair value of the optical services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Land and buildings

-

5% on cost

Plant and machinery etc

-

20% 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

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.

Going concern

The director believes that the company is maintaining good levels of profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 12 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 May 2024

and 30 April 2025

465,000

35,000

500,000

AMORTISATION

At 1 May 2024

178,250

13,417

191,667

Charge for year

23,250

1,750

25,000

At 30 April 2025

201,500

15,167

216,667

NET BOOK VALUE

At 30 April 2025

263,500

19,833

283,333

At 30 April 2024

286,750

21,583

308,333

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2024

150,000

41,111

191,111

Additions

-

324

324

At 30 April 2025

150,000

41,435

191,435

DEPRECIATION

At 1 May 2024

40,000

27,310

67,310

Charge for year

5,000

2,825

7,825

At 30 April 2025

45,000

30,135

75,135

NET BOOK VALUE

At 30 April 2025

105,000

11,300

116,300

At 30 April 2024

110,000

13,801

123,801

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

19,358

28,089

Other debtors

120,589

137,390

139,947

165,479

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

64,019

64,019

Trade creditors

19,156

19,487

Taxation and social security

38,559

32,452

Other creditors

5,031

6,037

126,765

121,995

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

151,318

208,046

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

197,064

246,173

The bank loans are secured by a bond and floating charge over the assets and undertakings of the company.

The bounce back loan is supported by a 100% guarantee from the UK Government.

11.	RELATED PARTY DISCLOSURES

At the 30th April 2025, the company owed Mr F Forde (Director) a sum of £0 (2024: £94). This loan is interest free and has no fixed repayment terms.

Forde Eyecare Limited

A company in which Mr F Forde is a director and shareholder.

At the 30th April 2025, Forde Eyecare Limited owed a sum of £110,000 (2024: £125,010) to Forde Opticians Ltd. This loan is interest free and has no fixed repayment terms.

During the year, the company sold goods to Forde Eyecare Limited which totalled £2,882 and purchased goods from Forde Eyecare Limited which totalled £5,293. These transactions take place at market value.