COMPANY REGISTRATION NUMBER:
R J Holmes Opticians Limited
for the
Year Ended 31 December 2021
R J Holmes Opticians Limited
Contents
Statement of Financial Position |
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Notes to the Financial Statements |
R J Holmes Opticians Limited
Statement of Financial Position as at 31 December 2021
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2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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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 |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
R J Holmes Opticians Limited
Statement of Financial Position as at 31 December 2021 (continued)
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Company registration number: :01184069
R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
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Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold property |
10% straight line |
Plant & equipment |
15% reducing balance |
Fixtures & fittings |
15% reducing balance |
Motor vehicles |
25% reducing balance |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
4 |
Profit before tax (continued) |
2021 |
2020 |
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Depreciation expense |
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R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
Tangible assets |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Included within the net book value of land and buildings above is £Nil (2020 - £Nil) in respect of long leasehold land and buildings.
R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
Stocks |
2021 |
2020 |
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Other inventories |
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Debtors |
Current |
2021 |
2020 |
Trade debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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67 |
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67 |
Related party transactions |
Mr N Barnes, a director of the company, is also a director and 25% shareholder of Bespoke Eyecare Holdings Limited.
Mr M Hudson, the company secretary, is also a director and 25% shareholder of Bespoke Eyecare Holdings Limited.
R J Holmes Opticians Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
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Related party transactions (continued) |
Summary of transactions with parent
Expenditure with and payables to related parties
2021 |
Parent |
Rendering of services |
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Amounts payable to related party |
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2020 |
Parent |
Rendering of services |
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Amounts payable to related party |
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Parent and ultimate parent undertaking |
The company's immediate parent is