Caseware UK (AP4) 2022.0.179 2022.0.179 2022-02-0166truefalseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06002249 2022-02-01 2023-01-31 06002249 2021-02-01 2022-01-31 06002249 2023-01-31 06002249 2022-01-31 06002249 c:Director1 2022-02-01 2023-01-31 06002249 d:Buildings d:ShortLeaseholdAssets 2022-02-01 2023-01-31 06002249 d:Buildings d:ShortLeaseholdAssets 2023-01-31 06002249 d:Buildings d:ShortLeaseholdAssets 2022-01-31 06002249 d:LandBuildings 2023-01-31 06002249 d:LandBuildings 2022-01-31 06002249 d:FurnitureFittings 2022-02-01 2023-01-31 06002249 d:FurnitureFittings 2023-01-31 06002249 d:FurnitureFittings 2022-01-31 06002249 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06002249 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06002249 d:Goodwill 2022-02-01 2023-01-31 06002249 d:Goodwill 2023-01-31 06002249 d:Goodwill 2022-01-31 06002249 d:CurrentFinancialInstruments 2023-01-31 06002249 d:CurrentFinancialInstruments 2022-01-31 06002249 d:Non-currentFinancialInstruments 2023-01-31 06002249 d:Non-currentFinancialInstruments 2022-01-31 06002249 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06002249 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 06002249 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06002249 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 06002249 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 06002249 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 06002249 d:ShareCapital 2023-01-31 06002249 d:ShareCapital 2022-01-31 06002249 d:RetainedEarningsAccumulatedLosses 2023-01-31 06002249 d:RetainedEarningsAccumulatedLosses 2022-01-31 06002249 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06002249 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 06002249 c:FRS102 2022-02-01 2023-01-31 06002249 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 06002249 c:FullAccounts 2022-02-01 2023-01-31 06002249 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06002249 d:Goodwill d:OwnedIntangibleAssets 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 06002249









EYE DESIGN OPTICIANS LIMITED







Unaudited

Financial statements

For the Year Ended 31 January 2023

 
EYE DESIGN OPTICIANS LIMITED
Registered number: 06002249

Statement of Financial Position
As at 31 January 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
61,350
76,500

Tangible assets
 5 
24,101
24,489

  
85,451
100,989

Current assets
  

Stocks
  
26,750
15,250

Debtors: amounts falling due within one year
 6 
66,982
15,914

Cash at bank and in hand
 7 
124,898
236,079

  
218,630
267,243

Creditors: amounts falling due within one year
 8 
(61,078)
(62,299)

Net current assets
  
 
 
157,552
 
 
204,944

Total assets less current liabilities
  
243,003
305,933

Creditors: amounts falling due after more than one year
 9 
(87,250)
(114,750)

Provisions for liabilities
  

Deferred tax
 11 
(4,579)
(4,653)

  
 
 
(4,579)
 
 
(4,653)

Net assets
  
151,174
186,530


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
150,174
185,530

  
151,174
186,530


Page 1

 
EYE DESIGN OPTICIANS LIMITED
Registered number: 06002249
    
Statement of Financial Position (continued)
As at 31 January 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 October 2023.




................................................
Mr Anil Shivji TAANK
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:               06002249
Registered office address: 170 High Street
                                          Ruislip
                                          Middlesex
                                          HA4 8LJ

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 6

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2022
303,000



At 31 January 2023

303,000



Amortisation


At 1 February 2022
226,500


Charge for the year on owned assets
15,150



At 31 January 2023

241,650



Net book value



At 31 January 2023
61,350



At 31 January 2022
76,500



Page 7

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

5.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2022
9,685
167,766
177,451


Additions
-
7,818
7,818



At 31 January 2023

9,685
175,584
185,269



Depreciation


At 1 February 2022
-
152,962
152,962


Charge for the year on owned assets
-
8,206
8,206



At 31 January 2023

-
161,168
161,168



Net book value



At 31 January 2023
9,685
14,416
24,101



At 31 January 2022
9,685
14,804
24,489




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Short leasehold
9,685
9,685

9,685
9,685


Page 8

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

6.


Debtors

2023
2022
£
£


Trade debtors
10,212
11,516

Other debtors
56,770
4,398

66,982
15,914


Included within other debtors due within one year is a loan to Mr A S Taank, a director, amounting to £50,000 (2022 - £0). Amounts repaid during the year totalled ££NIL.  The main conditions were as follows:

(a) Amount of £50,000 was advanced on 8 August 2022.
(b) Interest is at the HMRC official rates, currently 2% to 5 April 2023.
(c) The loan was repaid in full by 31 July 2023 


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
124,898
236,079

124,898
236,079



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

BBL bank loan
27,000
20,250

Trade creditors
21,623
14,550

Corporation tax
3,228
13,658

Other taxation and social security
4,398
4,788

Other creditors
454
503

Accruals and deferred income
4,375
8,550

61,078
62,299


Page 9

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

BBL bank loan
87,250
114,750

87,250
114,750



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

BBL bank loan
27,000
20,250


27,000
20,250


Amounts falling due 2-5 years

BBL bank loan
87,250
114,750


87,250
114,750


114,250
135,000


Page 10

 
EYE DESIGN OPTICIANS LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 January 2023

11.


Deferred taxation




2023


£






At beginning of year
(4,653)


Utilised in year
74



At end of year
(4,579)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(4,579)
(4,653)

(4,579)
(4,653)


12.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £454 (2022: £454) were due to the fund. They are included in creditors.

 
Page 11