DAVID_H_MYERS_HOLDINGS_LI - Accounts

DAVID H MYERS HOLDINGS LIMITED - Company Information

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Company Registration No. 05669436 (England and Wales)

DAVID H MYERS HOLDINGS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

DAVID H MYERS HOLDINGS LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 5

DAVID H MYERS HOLDINGS LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVID H MYERS HOLDINGS LIMITED FOR THE YEAR ENDED 31 MARCH 2015

- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David H Myers Holdings Limited for the year ended 31 March 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of David H Myers Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of David H Myers Holdings Limited and state those matters that we have agreed to state to the Board of Directors of David H Myers Holdings Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David H Myers Holdings Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that David H Myers Holdings Limited 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 David H Myers Holdings Limited. You consider that David H Myers Holdings Limited 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 David H Myers Holdings Limited. 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.

Moore and Smalley LLP

Chartered Accountants

Richard House

9 Winckley Square

Preston

PR1 3HP

12 November 2015

DAVID H MYERS HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 2 -

2015

2014

Notes

Fixed assets

Investments

167,074

Current assets

Debtors

366,641

272,827

Creditors: amounts falling due within one year

(133,545)

(197,551)

Net current assets

233,096

75,276

Total assets less current liabilities

400,170

242,350

Capital and reserves

Called up share capital

100,000

Profit and loss account

300,170

142,350

Shareholders' funds

400,170

242,350

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 11 November 2015

Mr D Myers

Director

Company Registration No. 05669436

DAVID H MYERS HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

1.3

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.4

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

DAVID H MYERS HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Investments

Cost

At 1 April 2014 & at 31 March 2015

167,074

At 31 March 2014

167,074

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

David H Myers (Southport) Limited

England & Wales

Ordinary

100.00

David H Myers (Churchtown) Limited

England & Wales

Ordinary

100.00

David H Myers (Leeds) Limited

England & Wales

Ordinary

100.00

D H Myers (Lytham) Limited

England & Wales

Ordinary

75.00

David H Myers (Penwortham) Limited

England & Wales

Ordinary

52.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

David H Myers (Southport) Limited

Opticians practice

847,922

164,172

David H Myers (Churchtown) Limited

Opticians practice

166,240

3,509

David H Myers (Leeds) Limited

Opticians practice

231,735

53,947

D H Myers (Lytham) Limited

Opticians practice

134,574

111,017

David H Myers (Penwortham) Limited

Opticians practice

89,338

59,057

Debtors

Debtors include an amount of £0 (2014 - £69,670) which is due after more than one year.

DAVID H MYERS HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

100,000 Ordinary shares of £1 each

100,000

Directors' benefits: Advances, credits and guarantees

At the balance sheet date, both directors had received advances from the company totalling £118,771. Each balance was the largest amount advanced throughout the year.

These advances are repayable on demand and the company has levied interest on these at the HMRC approved rate.