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Unaudited Financial Statements for the Year Ended 30 September 2021 |
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Amar Shah Optometrist Ltd |
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Unaudited Financial Statements for the Year Ended 30 September 2021 |
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for |
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Amar Shah Optometrist Ltd |
Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Amar Shah Optometrist Ltd |
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Company Information |
for the Year Ended 30 September 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Balance Sheet |
30 September 2021 |
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30.9.21 | 30.9.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
Called up share capital |
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Revaluation reserve |
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Retained earnings |
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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. |
Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Balance Sheet - continued |
30 September 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
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1. | STATUTORY INFORMATION |
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Amar Shah Optometrist Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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There have been no material departures from the Financial Reporting Standard 102 1A. |
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Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
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Turnover in relation to the sale of frames, lenses and related products is recognised when the goods are transferred to the customer. Turnover in relation to eye tests is recognised when the service is provided. |
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Tangible fixed assets |
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Leasehold improvements | - |
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Ophthalmic equipment | - |
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Fixtures, fittings & equipment | - |
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The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account. |
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Ophthalmic equipment is included in the balance sheet at its open market value on 30 September 2017 as valued by the director Mr A Shah, thereafter depreciated as detailed in the accounting policies. |
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Stocks |
Stock includes frames, lenses, contact lenses, sunglasses and solutions. Stock is valued at the lower of cost and net realisable value, where cost is amounts payable for goods net of VAT and trade discounts and net realisable value is the selling price of the goods less selling costs. |
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Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Government grants |
Government grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | Ophthalmic | fittings |
improvements | equipment | & equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2020 |
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Additions |
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Disposals |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | FINANCIAL COMMITMENTS |
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The total amount of financial commitments not included in the balance sheet is £110,250 (2020 - £55,125). This amount relates to future minimum lease payments under non-cancellable operating leases. |
Amar Shah Optometrist Ltd (Registered number: 05520913) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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8. | RELATED PARTY DISCLOSURES |
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Key management |
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During the year the company received a loan from key management. This loan is interest free and repayable on demand. |
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30.9.21 | 30.9.20 |
£ | £ |
Amount due to related party at the balance sheet date | 819 | 5,777 |