Eyetech Optical Limited 06461565 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the repair of electronic and optical equipment. Digita Accounts Production Advanced 6.30.9574.0 true 06461565 2022-02-01 2023-01-31 06461565 2023-01-31 06461565 core:CurrentFinancialInstruments 2023-01-31 06461565 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 06461565 core:BetweenTwoFiveYears 2023-01-31 06461565 core:WithinOneYear 2023-01-31 06461565 core:PlantMachinery 2023-01-31 06461565 bus:SmallEntities 2022-02-01 2023-01-31 06461565 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06461565 bus:FullAccounts 2022-02-01 2023-01-31 06461565 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06461565 bus:RegisteredOffice 2022-02-01 2023-01-31 06461565 bus:Director1 2022-02-01 2023-01-31 06461565 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06461565 core:PlantMachinery 2022-02-01 2023-01-31 06461565 countries:EnglandWales 2022-02-01 2023-01-31 06461565 2022-01-31 06461565 core:PlantMachinery 2022-01-31 06461565 2021-02-01 2022-01-31 06461565 2022-01-31 06461565 core:CurrentFinancialInstruments 2022-01-31 06461565 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 06461565 core:BetweenTwoFiveYears 2022-01-31 06461565 core:WithinOneYear 2022-01-31 06461565 core:PlantMachinery 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 06461565

Eyetech Optical Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Eyetech Optical Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Eyetech Optical Limited

Company Information

Director

Mr G Evans

Registered office

Red Robin House
11 Aldborough Spur
Slough
Berkshire
SL1 3EN

Accountants

Ardmore Accountancy Limited
Chartered Certified Accountants
17 Campion Close
Denham
Buckinghamshire
UB9 5BX

 

Eyetech Optical Limited

(Registration number: 06461565)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

296

370

Current assets

 

Debtors

5

14,079

22,345

Cash at bank and in hand

 

14,547

25,998

 

28,626

48,343

Creditors: Amounts falling due within one year

6

(12,445)

(19,082)

Net current assets

 

16,181

29,261

Net assets

 

16,477

29,631

Capital and reserves

 

Called up share capital

200

200

Retained earnings

16,277

29,431

Shareholders' funds

 

16,477

29,631

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 Profit and Loss Account has been taken.

Approved and authorised by the director on 24 October 2023
 


Mr G Evans
Director

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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:
Red Robin House
11 Aldborough Spur
Slough
Berkshire
SL1 3EN

These financial statements were authorised for issue by the director on 24 October 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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:

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance basis

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 at the transaction price, 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 at the transaction price.

Share capital

Ordinary shares are classified as equity.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2022

6,058

6,058

At 31 January 2023

6,058

6,058

Depreciation

At 1 February 2022

5,688

5,688

Charge for the year

74

74

At 31 January 2023

5,762

5,762

Carrying amount

At 31 January 2023

296

296

At 31 January 2022

370

370

5

Debtors

Current

2023
£

2022
£

Trade debtors

6,353

20,526

Prepayments

6,971

1,064

Other debtors

755

755

 

14,079

22,345

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

8

11

2,327

Taxation and social security

 

6,806

12,795

Accruals and deferred income

 

2,100

2,640

Other creditors

 

3,528

1,320

 

12,445

19,082

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

8,375

8,125

Later than one year and not later than five years

4,250

12,625

12,625

20,750

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,340 (2022 - £12,538).

8

Related party transactions

Other transactions with the director

The director operates a director's loan account. This loan is interest free and repayable on demand. At the balance sheet date the amount due to the director from the company was £11 (2022: £2,327).