Grey St. Optician Ltd iXBRL

Company Registration Number: 06146987

Grey St. Optician Ltd

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

for the financial year ended 31 August 2025

GREY ST. OPTICIAN LTD

Company Registration Number: 06146987

ABRIDGED STATEMENT OF FINANCIAL POSITION

as at 31 August 2025

		2025	2024
	Notes	£	£

Non-Current Assets

Property, plant and equipment

92,130

106,108

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Current Assets

Stocks

110,211

95,375

Debtors

240,373

250,676

Cash and cash equivalents

52,464

54,504

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403,048

400,555

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Creditors: amounts falling due within one year

(106,815)

(105,321)

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Net Current Assets

296,233

295,234

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Total Assets less Current Liabilities

388,363

401,342

Provisions for liabilities

(17,504)

(20,160)

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Net Assets

370,859

381,182

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Capital and Reserves

Called up share capital

100

100

Retained earnings

370,759

381,082

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Shareholders' Funds

370,859

381,182

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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Director's Report.

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 28 May 2026



________________________________
Nicholas Anthony Rayner
Director

GREY ST. OPTICIAN LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

General Information

Grey St. Optician Ltd is a company limited by shares incorporated and registered in the England and Wales. The registered number of the company is 06146987. The registered office of the company is 103 Grey Street, Newcastle Upon Tyne, United Kingdom, NE1 6EG. The principle activity of the company is other human health The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 August 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Goodwill

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 0 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost comprises purchase price and other directly attributable costs. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

15% Straight line

Motor vehicles

15% Reducing balance

Website

50% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including director, during the financial year was 8, (2024 - 9).

2025

2024

Number

Number

Total

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4.	Intangible assets

		Goodwill	Total
		£	£
	Cost
	At 1 September 2024	18,017	18,017
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	At 31 August 2025	18,017	18,017
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	Amortisation

	At 31 August 2025	18,017	18,017
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	Net book value
	At 31 August 2025	-	-
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5.	Property, plant and equipment
		Plant and	Motor	Website	Total
		machinery	vehicles

		£	£	£	£
	Cost
	At 1 September 2024	176,566	47,100	11,106	234,772
	Additions	2,490	-	-	2,490
		─────────	─────────	─────────	─────────
	At 31 August 2025	179,056	47,100	11,106	237,262
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 September 2024	105,509	13,070	10,085	128,664
	Charge for the financial year	11,109	5,104	255	16,468
		─────────	─────────	─────────	─────────
	At 31 August 2025	116,618	18,174	10,340	145,132
		─────────	─────────	─────────	─────────
	Net book value
	At 31 August 2025	62,438	28,926	766	92,130
		═════════	═════════	═════════	═════════
	At 31 August 2024	71,057	34,030	1,021	106,108
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