Emma Drewery Optometrist Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: SC333014 (Scotland)

Unaudited Financial Statements

for the Period 1 March 2016 to 31 August 2016

for

Emma Drewery Optometrist Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr E Russell

REGISTERED OFFICE:

159 South Street

Perth

Perthshire

PH2 8NY

REGISTERED NUMBER:

SC333014 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

5 Whitefriars Crescent

Perth

Perthshire

PH2 0PA

FIXED ASSETS

Tangible assets

5

-

17,786

CURRENT ASSETS

Stocks

-

43,585

Debtors

6

41,890

13,735

Cash at bank

11,999

6,724

53,889

64,044

CREDITORS

Amounts falling due within one year

7

5,983

25,431

NET CURRENT ASSETS

47,906

38,613

TOTAL ASSETS LESS CURRENT LIABILITIES

47,906

56,399

CREDITORS

Amounts falling due after more than one year

8

24,934

31,613

NET ASSETS

22,972

24,786

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

22,971

24,785

SHAREHOLDERS' FUNDS

22,972

24,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 24 May 2017 and were signed by:

Mr E Russell - Director

1.	STATUTORY INFORMATION

Emma Drewery Optometrist Limited 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.

The company changed its year end to align with that of the parent. The previous period figures may not be

comparable as they covered a fourteen month period to the date of ownership change.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Office equipment

-

15% 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 period 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 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 period 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.

Operating lease commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of

the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Office

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 March 2016

45,232

16,959

1,545

63,736

Disposals

(45,232

)

(16,959

)

(1,545

)

(63,736

)

At 31 August 2016

-

-

-

-

DEPRECIATION

At 1 March 2016

32,906

11,933

1,111

45,950

Eliminated on disposal

(32,906

)

(11,933

)

(1,111

)

(45,950

)

At 31 August 2016

-

-

-

-

NET BOOK VALUE

At 31 August 2016

-

-

-

-

At 29 February 2016

12,326

5,026

434

17,786

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade debtors

-

13,735

Amounts owed by group undertakings

41,890

-

41,890

13,735

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Bank loans and overdrafts

4,483

-

Trade creditors

-

6,648

Taxation and social security

-

18,783

Other creditors

1,500

-

5,983

25,431

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2016

£

£

Bank loans

24,934

31,613

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than five

years repayable by

instalments

6,071

-

6,071

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2016

£

£

Bank loans

29,417

-

The bank loan is secured by a bond and floating charge over the company's assets.

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr E Russell.