Alexander Gage Opticians Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03213042 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

FOR

ALEXANDER GAGE OPTICIANS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A M D Gage

SECRETARY:

Mrs S Gage

REGISTERED OFFICE:

857 Chesterfield Road

Woodseats

Sheffield

S8 0SQ

REGISTERED NUMBER:

03213042 (England and Wales)

ACCOUNTANTS:

Cairns Accountants (Abacus 369 Ltd)

102 Snape Hill Lane

Dronfield

Derbyshire

S18 2GP

FIXED ASSETS

Intangible assets

2

19,421

21,186

Tangible assets

3

46,917

50,080

66,338

71,266

CURRENT ASSETS

Stocks

34,771

35,771

Debtors

7,649

7,798

Cash at bank and in hand

17,564

102

59,984

43,671

CREDITORS

Amounts falling due within one year

96,203

79,346

NET CURRENT LIABILITIES

(36,219

)

(35,675

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,119

35,591

CREDITORS

Amounts falling due after more than one year

(23,640

)

(29,534

)

PROVISIONS FOR LIABILITIES

(895

)

(1,163

)

NET ASSETS

5,584

4,894

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

5,484

4,794

SHAREHOLDERS' FUNDS

5,584

4,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 November 2014 and were signed by:

A M D Gage - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, 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.

Freehold property

-

2% on cost

Long leasehold

-

2% on cost

Fixtures and fittings

-

25% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

35,306

AMORTISATION

At 1 September 2013

14,120

Amortisation for year

1,765

At 31 August 2014

15,885

NET BOOK VALUE

At 31 August 2014

19,421

At 31 August 2013

21,186

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

130,407

Additions

445

At 31 August 2014

130,852

DEPRECIATION

At 1 September 2013

80,327

Charge for year

3,608

At 31 August 2014

83,935

NET BOOK VALUE

At 31 August 2014

46,917

At 31 August 2013

50,080

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE CONTROLLING PARTY

Mr AMD Gage, a director, together with members of his close family, control the company by virtue of

a controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.