PK National Eyecare Group Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

PK National Eyecare Group Limited is a private company, limited by shares, incorporated in England & Wales, United Kingdom, registered number 01403663 . The registered office is Clermont House, High Street, Cranbrook, Kent, TN17 3DN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 Section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

2.2. Going Concern Disclosure

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The company

therefore continues to adopt the going concern basis in preparing its financial statements.

2.3. Significant judgements and estimations

The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Principal versus agent considerations

Management has exercised judgement in determining that the company acts as an agent, rather than a principal, in operating a purchasing group for independent opticians. In reaching this conclusion, management considered that the company does not control the goods purchased by its members, with suppliers retaining responsibility for pricing, fulfilment and product quality. The company's role is limited to negotiating and administering purchasing arrangements on behalf of its members. Accordingly, the company recognises as revenue only the rebates and management fees earned from operating the purchasing group, rather than the gross value of member purchases.

2.4. Turnover

Turnover comprises supplier rebates and management fees earned from operating a purchasing group for independent opticians. Turnover is measured at the fair value of the consideration received or receivable and is stated net of value added tax.

The company recognises turnover when the amount of turnover can be reliably measured, it is probable that future economic benefits will flow to the company and specific criteria have been met for each of the company's activities.

The company operates a purchasing group for independent opticians and facilitates purchasing arrangements between its members and suppliers. The company earns supplier rebates and management fees for the services provided. As the company acts as an agent, the net amount of rebates and management fees earned is recognised in turnover, rather than the gross value of member purchases.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Fixtures & Fittings	20 - 33% straight line

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PK National Eyecare Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Leasing and Hire Purchase Contracts

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as

operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis

over the period of the lease.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the

requirement to prepare consolidated financial statements, on the grounds that it is a small group.

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PK National Eyecare Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.10. Additional Accounting Policies

Trade debtors

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and

hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of

trade debtors is established when there is objective evidence that the company will not be able to collect all

amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Accounts payable are classified as current liabilities if the company does not have an

unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months

after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the

reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence

are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other

resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred

and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the

reporting period in which the dividends are declared.

2.11. Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are

measured at cost less impairment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 24 (2024: 24)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2025	28,261	36,331	64,592
Additions	-	582	582

As at 31 December 2025	28,261	36,913	65,174

Depreciation
As at 1 January 2025	28,261	31,171	59,432
Provided during the period	-	3,617	3,617

As at 31 December 2025	28,261	34,788	63,049

...CONTINUED

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PK National Eyecare Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	-	2,125	2,125

As at 1 January 2025	-	5,160	5,160

5. Investments

	Other
	£
Cost or Valuation
As at 1 January 2025	11,000

As at 31 December 2025	11,000

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	11,000

As at 1 January 2025	11,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share

capital are as follows:

Optinet Limited

Clermont House, High Street, Cranbrook, Kent, TN17 3DN

Ordinary & Preference Shares - 100% of the voting rights and shares held.

6. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	1,796,718	1,566,867
Prepayments and accrued income	50,779	35,138
Other debtors	12,005	6,026
Amounts owed by group undertakings	572	4,473

	1,860,074	1,612,504

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PK National Eyecare Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	1,855,057	1,668,334
Corporation tax	62,336	77,011
Other taxes and social security	19,001	17,652
VAT	28,177	23,661
Outstanding defined contribution pension costs	3,362	2,759
Accruals and deferred income	79,980	66,413
Amounts owed to group undertakings	134,007	103,791

	2,181,920	1,959,621

8. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024 as restated
	£	£
Other timing differences	389	389

9. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	10,000	10,000

10. Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments under non-cancellable operating leases over the remaining life of those leases not included in the balance sheet is £190,825 (2023 - £170,276).

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PK National Eyecare Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Audit Information

The auditor's report on the accounts of PK National Eyecare Group Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Kara-Marie Jones (Senior Statutory Auditor) for and on behalf of Hazlewoods LLP , Statutory Auditor.

Hazlewoods LLP

Staverton Court

Staverton

Cheltenham

GL51 0UX

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		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,125		5,160
Investments	5		11,000		11,000

			13,125		16,160
CURRENT ASSETS
Debtors	6	1,860,074		1,612,504
Cash at bank and in hand		421,377		492,851

		2,281,451		2,105,355
Creditors: Amounts Falling Due Within One Year	7	(2,181,920 )		(1,959,621 )

NET CURRENT ASSETS (LIABILITIES)			99,531		145,734

TOTAL ASSETS LESS CURRENT LIABILITIES			112,656		161,894

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(389 )		(389 )

NET ASSETS			112,267		161,505

CAPITAL AND RESERVES
Called up share capital	9		10,000		10,000
Capital redemption reserve			30,000		30,000
Profit and Loss Account			72,267		121,505

SHAREHOLDERS' FUNDS			112,267		161,505