Kevin Tait Opticians Limited - Accounts to registrar (filleted) - small 23.2.5

Kevin Tait Opticians Limited - Accounts to registrar (filleted) - small 23.2.5

KEVIN TAIT OPTICIANS LIMITED - Company Information

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REGISTERED NUMBER: 05218643 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Kevin Tait Opticians Limited
Kevin Tait Opticians Limited (Registered number: 05218643)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Kevin Tait Opticians Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs P A Tait
K Tait





SECRETARY: Mrs P A Tait





REGISTERED OFFICE: 3 High Street
Moreton-In-Marsh
GL56 0AH





REGISTERED NUMBER: 05218643 (England and Wales)





ACCOUNTANTS: ADM Accountancy Services Ltd
Homelands Commercial Centre
Vale Road
Bishops Cleeve
Cheltenham
Gloucestershire
GL52 8PX
Page 1
Kevin Tait Opticians Limited (Registered number: 05218643)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,517 9,221
8,517 9,221

CURRENT ASSETS
Stocks 22,063 20,421
Debtors 6 23,443 21,171
Cash at bank and in hand 175,846 126,467
221,352 168,059
CREDITORS
Amounts falling due within one year 7 57,828 52,846
NET CURRENT ASSETS 163,524 115,213
TOTAL ASSETS LESS CURRENT
LIABILITIES
172,041
124,434

PROVISIONS FOR LIABILITIES 1,626 1,573
NET ASSETS 170,415 122,861

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 170,413 122,859
170,415 122,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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...
Kevin Tait Opticians Limited (Registered number: 05218643)

Balance Sheet - continued
30 September 2023


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 27 April 2024 and were signed on its behalf by:





K Tait - Director


The notes form part of these financial statements

Page 3
Kevin Tait Opticians Limited (Registered number: 05218643)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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.

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 - 20% on cost

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.

Page 4 continued...
Kevin Tait Opticians Limited (Registered number: 05218643)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 80,000
AMORTISATION
At 1 October 2022
and 30 September 2023 80,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 57,562
Additions 2,638
At 30 September 2023 60,200
DEPRECIATION
At 1 October 2022 48,341
Charge for year 3,342
At 30 September 2023 51,683
NET BOOK VALUE
At 30 September 2023 8,517
At 30 September 2022 9,221

Page 5 continued...
Kevin Tait Opticians Limited (Registered number: 05218643)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 7,981 5,375
Other debtors 15,462 15,796
23,443 21,171

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 16,628 19,936
Taxation and social security 32,406 24,521
Other creditors 8,794 8,389
57,828 52,846

8. CAPITAL COMMITMENTS
30.9.23 30.9.22
£    £   
Contracted but not provided for in the
financial statements - 1,438

Page 6
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Kevin Tait Opticians Limited

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 Kevin Tait Opticians Limited for the year ended 30 September 2023 which comprise the Income Statement, 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 the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Kevin Tait Opticians Limited, 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 Kevin Tait Opticians Limited and state those matters that we have agreed to state to the Board of Directors of Kevin Tait Opticians Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. 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 Kevin Tait Opticians 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 Kevin Tait Opticians Limited. You consider that Kevin Tait Opticians 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 Kevin Tait Opticians 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.






ADM Accountancy Services Ltd
Homelands Commercial Centre
Vale Road
Bishops Cleeve
Cheltenham
Gloucestershire
GL52 8PX


5 April 2024

This page does not form part of the statutory financial statements

Page 7