Go Opticians Limited - Accounts to registrar (filleted) - small 17.3

Go Opticians Limited - Accounts to registrar (filleted) - small 17.3

GO OPTICAL LIMITED - Company Information

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REGISTERED NUMBER: 06956847 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

GO OPTICIANS LIMITED
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


GO OPTICIANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2017







DIRECTORS: Mr M C Perrigo
Mr E J Perrigo



REGISTERED OFFICE: 25 Load Street
Bewdley
Worcestershire
DY12 2AE



REGISTERED NUMBER: 06956847 (England and Wales)



ACCOUNTANTS: Poole Waterfield Limited
Priory House
2 Priory Road
Dudley
West Midlands
DY1 1HH



BANKERS: HSBC
100-101 Coventry Street
Kidderminster
Worcestershire
DY10 2BH
1
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)

BALANCE SHEET
31 JULY 2017

31.7.17 31.7.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 43,500 60,900
Tangible assets 5 43,836 30,860
87,336 91,760

CURRENT ASSETS
Stocks 12,600 8,150
Debtors 6 13,866 11,066
Cash at bank and in hand 68,737 50,928
95,203 70,144
CREDITORS
Amounts falling due within one year 7 80,865 76,014
NET CURRENT ASSETS/(LIABILITIES) 14,338 (5,870 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
101,674
85,890

PROVISIONS FOR LIABILITIES 8,159 5,429
NET ASSETS 93,515 80,461

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 93,415 80,361
SHAREHOLDERS' FUNDS 93,515 80,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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

2
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)

BALANCE SHEET - continued
31 JULY 2017


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 Board of Directors on 27 March 2018 and were signed on its
behalf by:





Mr M C Perrigo - Director


The notes form part of these financial statements

3
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017

1. STATUTORY INFORMATION

Go 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 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 represents net invoiced sale of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, 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.
Fixtures and fittings - 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 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.


4
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2016
and 31 July 2017 174,000
AMORTISATION
At 1 August 2016 113,100
Charge for year 17,400
At 31 July 2017 130,500
NET BOOK VALUE
At 31 July 2017 43,500
At 31 July 2016 60,900

5
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2016 44,499
Additions 23,377
Disposals (5,918 )
At 31 July 2017 61,958
DEPRECIATION
At 1 August 2016 13,639
Charge for year 7,736
Eliminated on disposal (3,253 )
At 31 July 2017 18,122
NET BOOK VALUE
At 31 July 2017 43,836
At 31 July 2016 30,860

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.17 31.7.16
£    £   
Trade debtors 6,984 7,182
Other debtors 6,882 3,884
13,866 11,066

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.17 31.7.16
£    £   
Trade creditors 17,642 7,822
Taxation and social security 17,946 21,405
Other creditors 45,277 46,787
80,865 76,014

8. SECURED DEBTS

On 10th August 2016 a debenture was registered against the company by Santander Bank PLC in
relation to a leasehold property owned by a director.

6
GO OPTICIANS LIMITED (REGISTERED NUMBER: 06956847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.7.17 31.7.16
value: £    £   
100 Ordinary £1 100 100

During 2013 the company issued 100 Ordinary B shares of £1 each to Mr E J Perrigo. These shares
are non-voting and can be redeemed by the company at any time and have therefore been shown
within creditors in these accounts.

10. RELATED PARTY DISCLOSURES

During the year the company paid property rent to a director of £11,000 (2016- Nil).

7