Ythan Opticians Limited - Accounts to registrar (filleted) - small 18.2

Ythan Opticians Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC341061(Scotland)















Financial Statements for the Year Ended 31 July 2018

for

Ythan Opticians Limited

Ythan Opticians Limited (Registered number: SC341061)






Contents of the Financial Statements
for the Year Ended 31 July 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ythan Opticians Limited

Company Information
for the Year Ended 31 July 2018







DIRECTORS: Dr T Sahraie
Mrs F E Anderson
A Sahraie





SECRETARY: A Sahraie





REGISTERED OFFICE: Shiels Lodge
Whitecairns
Aberdeenshire
AB23 8UL





REGISTERED NUMBER: SC341061(Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Ythan Opticians Limited (Registered number: SC341061)

Balance Sheet
31 July 2018

31.7.18 31.7.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,500 35,750
Tangible assets 5 4,766 -
37,266 35,750

CURRENT ASSETS
Stocks 14,610 12,788
Debtors 6 7,457 5,405
Cash at bank and in hand 5,796 3,055
27,863 21,248
CREDITORS
Amounts falling due within one year 7 156,282 170,085
NET CURRENT LIABILITIES (128,419 ) (148,837 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(91,153

)

(113,087

)

CREDITORS
Amounts falling due after more than one
year

8

32,432

35,687
NET LIABILITIES (123,585 ) (148,774 )

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 38,000 38,000
Retained earnings (161,685 ) (186,874 )
SHAREHOLDERS' FUNDS (123,585 ) (148,774 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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.

Ythan Opticians Limited (Registered number: SC341061)

Balance Sheet - continued
31 July 2018


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 3 April 2019and were signed on its behalf by:





Dr T Sahraie- Director


Ythan Opticians Limited (Registered number: SC341061)

Notes to the Financial Statements
for the Year Ended 31 July 2018

1. STATUTORY INFORMATION

Ythan Opticians Limited is a private company, limited by shares, registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7(2017 - 4) .

Ythan Opticians Limited (Registered number: SC341061)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2017
and 31 July 2018 65,000
AMORTISATION
At 1 August 2017 29,250
Charge for year 3,250
At 31 July 2018 32,500
NET BOOK VALUE
At 31 July 2018 32,500
At 31 July 2017 35,750

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2017 20,686
Additions 6,355
At 31 July 2018 27,041
DEPRECIATION
At 1 August 2017 20,686
Charge for year 1,589
At 31 July 2018 22,275
NET BOOK VALUE
At 31 July 2018 4,766

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
£    £   
Trade debtors 1,920 2,820
Other debtors 5,537 2,585
7,457 5,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
£    £   
Bank loans and overdrafts 105,390 126,520
Trade creditors 36,055 24,248
Taxation and social security 593 5,703
Other creditors 14,244 13,614
156,282 170,085

Ythan Opticians Limited (Registered number: SC341061)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.18 31.7.17
£    £   
Bank loans 32,432 35,687

9. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the directors by virtue of their percentage holding in the ordinary
share capital of the company which is detailed below.

Mrs T Sahraie - 47%
Mr A Sahraie - 35%