REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 30th June 2020 |
|
for |
|
Grafton Optical Company Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 30th June 2020 |
|
for |
|
Grafton Optical Company Limited |
Grafton Optical Company Limited (Registered number: 00527806) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30th June 2020 |
|
|
|
|
Page |
|
Abridged Balance Sheet | 1 |
|
Notes to the Financial Statements | 3 |
|
Grafton Optical Company Limited (Registered number: 00527806) |
|
Abridged Balance Sheet |
30th June 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Capital redemption reserve |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Grafton Optical Company Limited (Registered number: 00527806) |
|
Abridged Balance Sheet - continued |
30th June 2020 |
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
Grafton Optical Company Limited (Registered number: 00527806) |
|
Notes to the Financial Statements |
for the Year Ended 30th June 2020 |
|
1. | STATUTORY INFORMATION |
|
Grafton Optical Company Limited is a
|
|
Registered number: | 00527806 |
|
Registered office: | Unit 7 |
River Park Industrial Estate |
Billet Lane |
Berkhamsted |
HP4 1HL |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of ophthalmic instruments in the ordinary course of the company's activities. Sales are presented, net of value-added tax, 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 when specific criteria have been met for each of the company's activities as follows: |
|
Revenue from the sale of ophthalmic instruments is recognised at the point at which the goods have been delivered to the customer. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Government grants |
Grants are classified either as a grant relating to revenue or a grant relating to assets. |
|
Grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable |
|
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred it is recognised as deferred income and not deducted from the carrying amount of the asset. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Grafton Optical Company Limited (Registered number: 00527806) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2020 |
|
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st July 2019 |
|
Additions |
|
Disposals | ( |
) |
At 30th June 2020 |
|
DEPRECIATION |
At 1st July 2019 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 30th June 2020 |
|
NET BOOK VALUE |
At 30th June 2020 |
|
At 30th June 2019 |
|