Oliver Goldsmith Eyewear Limited 02327884 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is Consultants to licensees of Oliver Goldsmith trademark and other names. Digita Accounts Production Advanced 6.30.9574.0 true 02327884 2021-01-01 2021-12-31 02327884 2021-12-31 02327884 core:CurrentFinancialInstruments 2021-12-31 02327884 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 02327884 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 02327884 core:FurnitureFittings 2021-12-31 02327884 bus:SmallEntities 2021-01-01 2021-12-31 02327884 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 02327884 bus:FullAccounts 2021-01-01 2021-12-31 02327884 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 02327884 bus:RegisteredOffice 2021-01-01 2021-12-31 02327884 bus:Director1 2021-01-01 2021-12-31 02327884 bus:Director3 2021-01-01 2021-12-31 02327884 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 02327884 bus:Agent1 2021-01-01 2021-12-31 02327884 core:FurnitureFittings 2021-01-01 2021-12-31 02327884 countries:EnglandWales 2021-01-01 2021-12-31 02327884 2020-12-31 02327884 core:FurnitureFittings 2020-12-31 02327884 2020-01-01 2020-12-31 02327884 2020-12-31 02327884 core:CurrentFinancialInstruments 2020-12-31 02327884 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 02327884 core:Non-currentFinancialInstruments core:AfterOneYear 2020-12-31 02327884 core:FurnitureFittings 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 02327884

Oliver Goldsmith Eyewear Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Oliver Goldsmith Eyewear Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Oliver Goldsmith Eyewear Limited

Company Information

Directors

A O Goldsmith

Mrs A O Taibel

Registered office

44C The Broadway
Mill Hill
London
NW7 3LH

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Oliver Goldsmith Eyewear Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oliver Goldsmith Eyewear Limited for the year ended 31 December 2021 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Oliver Goldsmith Eyewear Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Oliver Goldsmith Eyewear Limited and state those matters that we have agreed to state to the Board of Directors of Oliver Goldsmith Eyewear Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oliver Goldsmith Eyewear Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oliver Goldsmith Eyewear Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oliver Goldsmith Eyewear Limited. You consider that Oliver Goldsmith Eyewear Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oliver Goldsmith Eyewear Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

31 August 2022

 

Oliver Goldsmith Eyewear Limited

(Registration number: 02327884)
Statement of Financial Position as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,182

1,576

Current assets

 

Debtors

5

65

719

Cash at bank and in hand

 

52,510

20,736

 

52,575

21,455

Creditors: Amounts falling due within one year

6

(2,985)

(10,186)

Net current assets

 

49,590

11,269

Total assets less current liabilities

 

50,772

12,845

Creditors: Amounts falling due after more than one year

6

(140,833)

(122,833)

Net liabilities

 

(90,061)

(109,988)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(90,161)

(110,088)

Shareholders' deficit

 

(90,061)

(109,988)

 

Oliver Goldsmith Eyewear Limited

(Registration number: 02327884)
Statement of Financial Position as at 31 December 2021 (continued)

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 

A O Goldsmith
Director

   
     
 

Oliver Goldsmith Eyewear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
44C The Broadway
Mill Hill
London
NW7 3LH
United Kingdom

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Government grants

Government and other grants are recognised as income when there is reasonable assurance that the grants or contributions will be received and the conditions attaching to the grants or contribution have been met. Monies advanced as grants and contributions for which conditions have not been satisfied are carried in the Balance Sheet as creditors. When conditions are satisfied, the grant or contribution is credited to income.

 

Oliver Goldsmith Eyewear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

2

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

Fixtures and Fittings

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Oliver Goldsmith Eyewear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

2

Accounting policies (continued)

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position date.

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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 2).

 

Oliver Goldsmith Eyewear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2021

20,558

20,558

At 31 December 2021

20,558

20,558

Depreciation

At 1 January 2021

18,982

18,982

Charge for the year

394

394

At 31 December 2021

19,376

19,376

Carrying amount

At 31 December 2021

1,182

1,182

At 31 December 2020

1,576

1,576

5

Debtors

2021
£

2020
£

Trade debtors

65

432

Other debtors

-

287

65

719

 

Oliver Goldsmith Eyewear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

-

1,326

Taxation and social security

100

-

Accruals and deferred income

1,625

2,000

Other creditors

1,260

6,860

2,985

10,186

Creditors: amounts falling due after more than one year

2021
£

2020
£

Due after one year

Other non-current financial liabilities

140,833

122,833