Hyndsight Opticians Ltd. - Accounts to registrar (filleted) - small 18.2

Hyndsight Opticians Ltd. - Accounts to registrar (filleted) - small 18.2

HYNDSIGHT OPTICIANS LTD. - Company Information

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IRIS Accounts Production v21.2.0.376 SC401173 Board of Directors Board of Directors 1.10.20 30.9.21 30.9.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC4011732020-09-30SC4011732021-09-30SC4011732020-10-012021-09-30SC4011732019-09-30SC4011732019-10-012020-09-30SC4011732020-09-30SC401173ns16:Scotland2020-10-012021-09-30SC401173ns15:PoundSterling2020-10-012021-09-30SC401173ns11:Director12020-10-012021-09-30SC401173ns11:Director22020-10-012021-09-30SC401173ns11:PrivateLimitedCompanyLtd2020-10-012021-09-30SC401173ns11:SmallEntities2020-10-012021-09-30SC401173ns11:AuditExemptWithAccountantsReport2020-10-012021-09-30SC401173ns11:SmallCompaniesRegimeForDirectorsReport2020-10-012021-09-30SC401173ns11:SmallCompaniesRegimeForAccounts2020-10-012021-09-30SC401173ns11:FullAccounts2020-10-012021-09-30SC401173ns11:CompanySecretary12020-10-012021-09-30SC401173ns11:RegisteredOffice2020-10-012021-09-30SC401173ns6:CurrentFinancialInstruments2021-09-30SC401173ns6:CurrentFinancialInstruments2020-09-30SC401173ns6:Non-currentFinancialInstruments2021-09-30SC401173ns6:Non-currentFinancialInstruments2020-09-30SC401173ns6:ShareCapital2021-09-30SC401173ns6:ShareCapital2020-09-30SC401173ns6:RetainedEarningsAccumulatedLosses2021-09-30SC401173ns6:RetainedEarningsAccumulatedLosses2020-09-30SC401173ns6:PlantMachinery2020-10-012021-09-30SC401173ns6:PlantMachinery2020-09-30SC401173ns6:PlantMachinery2021-09-30SC401173ns6:PlantMachinery2020-09-30SC401173ns6:CurrentFinancialInstrumentsns6:WithinOneYear2021-09-30SC401173ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-09-30SC401173ns6:Secured2021-09-30SC401173ns6:Secured2020-09-30SC40117312020-10-012021-09-30
REGISTERED NUMBER: SC401173 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

HYNDSIGHT OPTICIANS LTD.
HYNDSIGHT OPTICIANS LTD. (REGISTERED NUMBER: SC401173)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

HYNDSIGHT OPTICIANS LTD.

COMPANY INFORMATION
for the Year Ended 30 September 2021







DIRECTORS: R J Broadley
Mrs C C Broadley





SECRETARY:





REGISTERED OFFICE: 131 Hyndland Road
Hyndland
Glasgow
G12 9JA





REGISTERED NUMBER: SC401173 (Scotland)





ACCOUNTANTS: Mark Toma & Company Limited
Chartered Accountants & Business Advisers
48 Nithsdale Road
Glasgow
G41 2AN
Page 1
HYNDSIGHT OPTICIANS LTD. (REGISTERED NUMBER: SC401173)

BALANCE SHEET
30 September 2021

30.9.21 30.9.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,131 4,558

CURRENT ASSETS
Stocks 31,370 21,829
Debtors 5 14,656 14,551
Cash at bank 63,115 44,055
109,141 80,435
CREDITORS
Amounts falling due within one year 6 68,668 56,587
NET CURRENT ASSETS 40,473 23,848
TOTAL ASSETS LESS CURRENT
LIABILITIES
62,604
28,406

CREDITORS
Amounts falling due after more than one
year
7
(24,000
)
-

PROVISIONS FOR LIABILITIES (4,205 ) (866 )
NET ASSETS 34,399 27,540

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 34,397 27,538
SHAREHOLDERS' FUNDS 34,399 27,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 notes form part of these financial statements

Page 2 continued...
HYNDSIGHT OPTICIANS LTD. (REGISTERED NUMBER: SC401173)

BALANCE SHEET - continued
30 September 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2022 and were signed on its behalf by:




R J Broadley - Director



Mrs C C Broadley - Director


The notes form part of these financial statements

Page 3
HYNDSIGHT OPTICIANS LTD. (REGISTERED NUMBER: SC401173)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2021

1. STATUTORY INFORMATION

Hyndsight Opticians Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2020 - 7 ) .

Page 4 continued...
HYNDSIGHT OPTICIANS LTD. (REGISTERED NUMBER: SC401173)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2020 24,554
Additions 24,950
At 30 September 2021 49,504
DEPRECIATION
At 1 October 2020 19,996
Charge for year 7,377
At 30 September 2021 27,373
NET BOOK VALUE
At 30 September 2021 22,131
At 30 September 2020 4,558

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Trade debtors 14,656 13,602
Other debtors - 949
14,656 14,551

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Bank loans and overdrafts 6,000 -
Trade creditors 23,653 7,129
Taxation and social security 35,413 44,309
Other creditors 3,602 5,149
68,668 56,587

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.21 30.9.20
£    £   
Bank loans 24,000 -

Page 5 continued...
HYNDSIGHT OPTICIANS LTD. (REGISTERED NUMBER: SC401173)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2021

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.21 30.9.20
£    £   
Bank loans 30,000 -

The bank loan is secured by way of a government backed guarantee.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount due to the directors.

Page 6
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HYNDSIGHT OPTICIANS LTD.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hyndsight Opticians Ltd. for the year ended 30 September 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Hyndsight Opticians Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hyndsight Opticians Ltd. and state those matters that we have agreed to state to the Board of Directors of Hyndsight Opticians Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hyndsight Opticians Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hyndsight Opticians Ltd.. You consider that Hyndsight Opticians Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hyndsight Opticians Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mark Toma & Company Limited
Chartered Accountants & Business Advisers
48 Nithsdale Road
Glasgow
G41 2AN


26 January 2022

This page does not form part of the statutory financial statements

Page 7