Sight Care UK Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04556532 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

SIGHT CARE UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J C Macfie

Mrs S Macfie

REGISTERED OFFICE:

33 -35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

REGISTERED NUMBER:

04556532 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence

Chartered Accountants

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

13,272

14,733

13,273

14,734

CURRENT ASSETS

Stocks

59,061

52,518

Debtors

6

9,324

30,895

Cash at bank and in hand

208,893

194,761

277,278

278,174

CREDITORS

Amounts falling due within one year

7

55,282

56,225

NET CURRENT ASSETS

221,996

221,949

TOTAL ASSETS LESS CURRENT LIABILITIES

235,269

236,683

CREDITORS

Amounts falling due after more than one year

8

(26,565

)

(36,551

)

PROVISIONS FOR LIABILITIES

9

(2,521

)

(2,625

)

NET ASSETS

206,183

197,507

CAPITAL AND RESERVES

Called up share capital

150

150

Share premium

89,950

89,950

Retained earnings

116,083

107,407

SHAREHOLDERS' FUNDS

206,183

197,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 20 April 2023 and were signed on its behalf by:

J C Macfie - Director

1.	STATUTORY INFORMATION

Sight Care UK 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.

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 represents the net sales of goods and services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

20% on reducing balance

Computer equipment

-

20% 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 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

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 10 (2021 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 November 2021

and 31 October 2022

141,999

1

142,000

AMORTISATION

At 1 November 2021

and 31 October 2022

141,999

-

141,999

NET BOOK VALUE

At 31 October 2022

-

1

1

At 31 October 2021

-

1

1

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1 November 2021

26,572

11,188

37,760

Additions

3,015

3,053

6,068

Disposals

(12,449

)

(2,761

)

(15,210

)

At 31 October 2022

17,138

11,480

28,618

DEPRECIATION

At 1 November 2021

16,773

6,254

23,027

Charge for year

1,898

1,419

3,317

Eliminated on disposal

(9,129

)

(1,869

)

(10,998

)

At 31 October 2022

9,542

5,804

15,346

NET BOOK VALUE

At 31 October 2022

7,596

5,676

13,272

At 31 October 2021

9,799

4,934

14,733

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

2,750

-

Other debtors

6,574

30,895

9,324

30,895

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

9,800

9,400

Taxation and social security

27,237

21,244

Other creditors

18,245

25,581

55,282

56,225

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

26,565

36,551

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

2,521

2,625

Deferred

tax

£

Balance at 1 November 2021

2,625

Movement for the year

(104

)

Balance at 31 October 2022

2,521

10.	ULTIMATE CONTROLLING PARTY

The shareholder voting rights attach only to the ordinary 'A' shares. The directors each own one half of same and the reporting entity therefore has no ultimate controlling party.