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Registration number: 02369614

Eye-One Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Eye-One Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Eye-One Limited

Company Information

Directors

A O Goldsmith

Mrs A O Taibel

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

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
Eye-One 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 Eye-One 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 Eye-One 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 Eye-One Limited and state those matters that we have agreed to state to the Board of Directors of Eye-One 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 Eye-One Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eye-One 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 Eye-One Limited. You consider that Eye-One 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 Eye-One 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

 

Eye-One Limited

(Registration number: 02369614)
Statement of Financial Position as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1

1

Investments

5

115,000

115,000

Other financial assets

6

220,000

220,000

 

335,001

335,001

Current assets

 

Debtors

7

142,108

122,849

Cash at bank and in hand

 

136,638

136,698

 

278,746

259,547

Creditors: Amounts falling due within one year

8

(7,625)

(14,100)

Net current assets

 

271,121

245,447

Net assets

 

606,122

580,448

Capital and reserves

 

Called up share capital

200

200

Share premium reserve

561,800

561,800

Profit and loss account

44,122

18,448

Shareholders' funds

 

606,122

580,448

 

Eye-One Limited

(Registration number: 02369614)
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

   
     
 

Eye-One 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:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
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.

 

Eye-One Limited

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

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Plant and machinery

25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Eye-One Limited

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

2

Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2021

8,673

8,673

At 31 December 2021

8,673

8,673

Depreciation

At 1 January 2021

8,672

8,672

At 31 December 2021

8,672

8,672

Carrying amount

At 31 December 2021

1

1

At 31 December 2020

1

1

 

Eye-One Limited

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

5

Investments

2021
£

At 1 January 2021

115,000

At 31 December 2021

115,000

In the opinion of the directors, the market value of the investment property as at 31 December 2021 was £237,500 (2020 - £237,500).



 

6

Other financial assets

Financial assets at cost
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2021

220,000

220,000

At 31 December 2021

220,000

220,000

Impairment

Carrying amount

At 31 December 2021

220,000

220,000


 

The market value of Catellian Cavendish Limited investments at 31 December 2021 is £436,004 (2020 - £364,017).
 

7

Debtors

2021
£

2020
£

Trade debtors

1,250

-

Other debtors

140,858

122,849

142,108

122,849

 

Eye-One Limited

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

8

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Accruals and deferred income

1,625

2,100

Other creditors

6,000

12,000

7,625

14,100