NF Burnett Hodd Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07078494 (England and Wales)

NF BURNETT HODD LTD

T/A

BURNETT HODD & TAM OPTOMETRY

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N F Burnett Hodd

Mrs R M Hodd

Mr Y Mendoza Gonzalez

Mr C Tam

SECRETARY:

Mrs R M Hodd

REGISTERED OFFICE:

2nd Floor

201 Haverstock Hill

London

NW3 4QG

REGISTERED NUMBER:

07078494 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Intangible assets

4

-

105,000

Tangible assets

5

25,228

40,522

25,228

145,522

CURRENT ASSETS

Stocks

130,368

156,531

Debtors

6

28,345

26,626

Cash at bank and in hand

344,142

275,054

502,855

458,211

CREDITORS

Amounts falling due within one year

7

150,344

156,676

NET CURRENT ASSETS

352,511

301,535

TOTAL ASSETS LESS CURRENT LIABILITIES

377,739

447,057

CREDITORS

Amounts falling due after more than one year

8

(28,566

)

(39,913

)

PROVISIONS FOR LIABILITIES

(4,793

)

(7,699

)

NET ASSETS

344,380

399,445

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

344,280

399,345

SHAREHOLDERS' FUNDS

344,380

399,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 15 June 2020 and were signed on its behalf by:

Mrs R M Hodd - Director

Dr C L Burnett Hodd - Director

1.	STATUTORY INFORMATION

NF Burnett Hodd Ltd 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.

The accounts are prepared in accordance with applicable United Kingdom Accounting Standards (United

Kingdom Generally Accepted Accounting Practice), which have been consistently applied (except as otherwise

stated).

Significant judgements and estimates

The preparation of the financial statements in conformity with FRS102 requires management to make

judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and

liabilities, income and expenses. The estimates and associated assumptions are based on historical experience

and various other factors that are believed to be reasonable under the circumstances, the results of which form

the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent

from other sources. Actual results may differ from these estimates.

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 and in any future periods affected.

The directors are of the opinion that the financial statements are not subject to the influence of any significant

judgements or estimates.

Turnover

Turnover represents sales of optical goods and services, excluding value added tax, where appropriate.

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business on 1st April 2010 , is being

amortised evenly over its estimated useful life of ten years.

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.

Land and buildings

-

25% on cost

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to

be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

though profit or loss.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between

an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the

amount that the Company would receive for the asset if it were to be sold at the reporting date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2019 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST OR VALUATION

At 1 April 2019

and 31 March 2020

1,050,000

AMORTISATION

At 1 April 2019

945,000

Charge for year

105,000

At 31 March 2020

1,050,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

105,000

Cost or valuation at 31 March 2020 is represented by:

Goodwill

£

Valuation in 2015

(251,343

)

Cost

1,301,343

1,050,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

29,727

372,790

402,517

Additions

-

6,082

6,082

At 31 March 2020

29,727

378,872

408,599

DEPRECIATION

At 1 April 2019

29,727

332,268

361,995

Charge for year

-

21,376

21,376

At 31 March 2020

29,727

353,644

383,371

NET BOOK VALUE

At 31 March 2020

-

25,228

25,228

At 31 March 2019

-

40,522

40,522

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as

follows:

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

157,244

DEPRECIATION

At 1 April 2019

141,223

Charge for year

15,625

At 31 March 2020

156,848

NET BOOK VALUE

At 31 March 2020

396

At 31 March 2019

16,021

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,979

-

Other debtors

26,366

26,626

28,345

26,626

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts and finance leases

11,346

10,099

Trade creditors

37,201

44,425

Taxation and social security

90,990

87,891

Other creditors

10,807

14,261

150,344

156,676

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts and finance leases

28,566

39,913

9.	RELATED PARTY DISCLOSURES

Included in other debtors at the year end is an amount of £12,670 (2019: £10,619) owed to the company by

Burnett Hodd Properties Limited, a company controlled by Mr N F Burnett Hodd and Mrs R M Hodd.

10.	POST BALANCE SHEET EVENTS

The directors have considered the effect of the Covid-19 outbreak, that has been spreading throughout the world

in early 2020, on the company's activities. This outbreak may cause disruption to the companies activities going

forward. Consequently, at the date of approval of these financial statements, the extent and quantum of the

disruption still remains uncertain.