Company registration number 05263185 (England and Wales)
CAMPBELL, LEIGH & HOLLANDS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CAMPBELL, LEIGH & HOLLANDS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CAMPBELL, LEIGH & HOLLANDS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2022
30 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
5
96,095
95,520
Current assets
Stocks
45,808
41,884
Debtors
6
49,630
45,016
Cash at bank and in hand
149,740
120,437
245,178
207,337
Creditors: amounts falling due within one year
7
(80,493)
(58,923)
Net current assets
164,685
148,414
Total assets less current liabilities
260,780
243,934
Creditors: amounts falling due after more than one year
8
(60,462)
(82,510)
Provisions for liabilities
(18,490)
(18,148)
Net assets
181,828
143,276
Capital and reserves
Called up share capital
2,066
2,066
Profit and loss reserves
179,762
141,210
Total equity
181,828
143,276
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CAMPBELL, LEIGH & HOLLANDS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2022
30 November 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 9 February 2023
Mrs T E Leigh
Director
Company Registration No. 05263185
CAMPBELL, LEIGH & HOLLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 3 -
1
Accounting policies
Company information
Campbell, Leigh & Hollands Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
2nd Floor, 201 Haverstock Hill, London, England, NW3 4QG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is
ten years.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on cost
Fixtures and fittings
15% on reducing balance
Computers
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
CAMPBELL, LEIGH & HOLLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
1
Accounting policies
(Continued)
- 4 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
CAMPBELL, LEIGH & HOLLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
12
12
4
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2021 and 30 November 2022
176,766
Amortisation and impairment
At 1 December 2021 and 30 November 2022
176,766
Carrying amount
At 30 November 2022
At 30 November 2021
CAMPBELL, LEIGH & HOLLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 6 -
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 December 2021
151,164
114,606
22,228
287,998
Additions
33,093
1,319
34,412
At 30 November 2022
184,257
114,606
23,547
322,410
Depreciation and impairment
At 1 December 2021
79,768
92,128
20,582
192,478
Depreciation charged in the year
28,493
3,372
1,972
33,837
At 30 November 2022
108,261
95,500
22,554
226,315
Carrying amount
At 30 November 2022
75,996
19,106
993
96,095
At 30 November 2021
71,396
22,478
1,646
95,520
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
11,577
9,392
Amounts owed by group undertakings
24,884
22,567
Other debtors
9,459
9,308
Prepayments
3,710
3,749
49,630
45,016
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
10,000
10,000
Obligations under finance leases
12,509
12,509
Trade creditors
27,364
25,633
Corporation tax
20,172
2,124
Other taxation and social security
4,858
3,319
Other creditors
940
688
Accruals
4,650
4,650
80,493
58,923
CAMPBELL, LEIGH & HOLLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 7 -
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
27,045
36,584
Obligations under finance leases
33,417
45,926
60,462
82,510
The bank loan is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme. The above bank loan bears interest of 2.5% per annum.
9
Parent company
The parent company of Campbell, Leigh & Hollands Limited is Leigh Optometry Ltd and its registered office address is 2nd Floor, 201 Haverstock Hill, London, England, NW3 4QG.