A J Optometric Services Limited - Period Ending 2014-11-30

Registration number: 04820337

A J Optometric Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2014
 

EK Williams
1 Pavilion Square
Cricketers Way
Westhoughton
Bolton
BL5 3AJ

A J Optometric Services Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

A J Optometric Services Limited
(Registration number: 04820337)
Abbreviated Balance Sheet at 30 November 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					-			11,531
Current assets
Stocks					-			17,726
Debtors					124,426			136,240
Cash at bank and in hand					48,518			62,673
					172,944			216,639
Creditors: Amounts falling due within one year					(34,006)			(401,021)
Net current assets/(liabilities)					138,938			(184,382)
Total assets less current liabilities					138,938			(172,851)
Provisions for liabilities					-			(309)
Net assets/(liabilities)					138,938			(173,160)
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					138,738			(173,360)
Shareholders' funds/(deficit)					138,938			(173,160)

For the year ending 30 November 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

A J Optometric Services Limited
(Registration number: 04820337)
Abbreviated Balance Sheet at 30 November 2014
......... continued

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 28 August 2015

.........................................
Mr J Hall
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

A J Optometric Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life.

Asset class	Amortisation method and rate
Franchise fee	Over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life.

Asset class	Depreciation method and rate
Office equipment	20% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

A J Optometric Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2013		50,000			64,047			114,047
Disposals		(50,000)			(64,047)			(114,047)
At 30 November 2014		-			-			-
Depreciation
At 1 December 2013		50,000			52,516			102,516
Eliminated on disposals		(50,000)			(52,516)			(102,516)
At 30 November 2014		-			-			-
Net book value
At 30 November 2014		-			-			-
At 30 November 2013		-			11,531			11,531

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Ordinary A shares of £1 each		100			100			100			100
		200			200			200			200

Page 4

A J Optometric Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr J Hall
Monies owed to the company by the director	85,560	-	82,827	-

5

Control

The company is controlled by an associated company, Eyeris Limited, which holds 51% of the shares.

Page 5