Freedom Eyecare Limited
Freedom Eyecare Limited
Registered number: 05542491
ABRIDGED Financial Statements
For The Year Ended 31 August 2023
Bailey Oster
Chartered Accountants
Mellor House
St Petersgate
Stockport
SK1 1DS
Freedom Eyecare Limited
Contents
Contents
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
Freedom Eyecare Limited
Abridged Balance Sheet
As At
31 August 2023
Abridged Balance Sheet
Registered number:
05542491
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2023 in accordance with section 444(2A) of the Companies Act 2006.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Stocks |
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| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 143,572 | 142,102 | |||
Freedom Eyecare Limited
Abridged Balance Sheet (continued)
As At
31 August 2023
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Freedom Eyecare Limited
Notes to the Abridged Financial Statements
For The Year Ended 31 August 2023
Notes to the Abridged Financial Statements
1.
General Information
Freedom Eyecare Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
05542491
. The registered office is Jacqueline Burns Opticians, 140 High Street, Marlborough, Wiltshire, SN8 1HN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Lease premium - has been amortised over its estimated economic life of ten years.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Plant & Machinery |
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| Fixtures & Fittings |
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2.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6.
Taxation
The corporation tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 4)
Freedom Eyecare Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 August 2023
4.
Intangible Assets
| Total | |||
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| £ | |||
| Cost | |||
| As at 1 September 2022 |
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| As at 31 August 2023 |
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| Amortisation | |||
| As at 1 September 2022 |
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| As at 31 August 2023 |
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5.
Tangible Assets
| Total | |
|---|---|
| £ | |
| Cost | |
| As at 1 September 2022 |
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| Additions |
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| As at 31 August 2023 |
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| Depreciation | |
| As at 1 September 2022 |
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| Provided during the period |
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| As at 31 August 2023 |
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| Net Book Value | |
| As at 31 August 2023 |
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| As at 1 September 2022 |
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