G R Green Optometrist Limited - Accounts to registrar - small 17.2

G R Green Optometrist Limited - Accounts to registrar - small 17.2

G R GREEN OPTOMETRIST LIMITED - Company Information

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REGISTERED NUMBER: 04603561 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

G R GREEN OPTOMETRIST LIMITED

G R GREEN OPTOMETRIST LIMITED (REGISTERED NUMBER: 04603561)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G R GREEN OPTOMETRIST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: Mrs G R Green B.Sc.(Hons)F.C.Optom





SECRETARY: I S Green B.CH.D





REGISTERED OFFICE: 2 Stonegate Road
Meanwood
Leeds
LS6 4HY





REGISTERED NUMBER: 04603561 (England and Wales)





ACCOUNTANTS: Bartfields (UK) Limited
Chartered Accountants
4th Floor, Stockdale House
Headingley Office Park
8 Victoria Road
Leeds
LS6 1PF
Page 1
G R GREEN OPTOMETRIST LIMITED (REGISTERED NUMBER: 04603561)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 35,000
Tangible assets 5 3,058 3,398
33,058 38,398

CURRENT ASSETS
Stocks 10,500 10,590
Debtors 6 2,836 2,840
Cash at bank and in hand 18,027 28,576
31,363 42,006
CREDITORS
Amounts falling due within one year 7 13,549 20,062
NET CURRENT ASSETS 17,814 21,944
TOTAL ASSETS LESS CURRENT
LIABILITIES
50,872
60,342

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 50,772 60,242
SHAREHOLDERS' FUNDS 50,872 60,342

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

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

The director acknowledges her 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 27 June 2017 and were signed by:




Mrs G R Green B.Sc.(Hons)F.C.Optom - Director


The notes form part of these financial statements

Page 2
G R GREEN OPTOMETRIST LIMITED (REGISTERED NUMBER: 04603561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

G R Green Optometrist 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.

The principal activity of the company is that of opticians.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 2002, is being amortised evenly over its estimated useful life of twenty 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 - 10% 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.

Page 3 continued...
G R GREEN OPTOMETRIST LIMITED (REGISTERED NUMBER: 04603561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2016
and 31 December 2016 100,000
AMORTISATION
At 1 January 2016 65,000
Charge for year 5,000
At 31 December 2016 70,000
NET BOOK VALUE
At 31 December 2016 30,000
At 31 December 2015 35,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2016
and 31 December 2016 10,708
DEPRECIATION
At 1 January 2016 7,310
Charge for year 340
At 31 December 2016 7,650
NET BOOK VALUE
At 31 December 2016 3,058
At 31 December 2015 3,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 2,104 1,968
Other debtors 732 872
2,836 2,840

Page 4 continued...
G R GREEN OPTOMETRIST LIMITED (REGISTERED NUMBER: 04603561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 1,431 2,142
Taxation and social security 7,750 7,488
Other creditors 4,368 10,432
13,549 20,062

8. FIRST YEAR ADOPTION

This is the first year that the Company has presented its financial statements under Section 1A "Small Entities" of
Financial Reporting Standard 102. The last financial statements under previous UK GAAP were for the 12
month period ended 31 December 2016 and the date of transition to FRS 102 was therefore 1 January 2016.

There are no significant disclosures required in the year of transition and no accounting policies have changed in
order to be compliant with FRS 102. Accordingly, no reconciliations of previously reported equity or profits are
necessary or presented.

There are no adjustments to the carrying values of assets and liabilities on first adoption of FRS102.


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