Registered number
10032860
THE HARLEY STREET EYE CENTRE LIMITED
Unaudited Filleted Accounts
28 February 2023
THE HARLEY STREET EYE CENTRE LIMITED
Registered number: 10032860
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 571,541 658,479
Current assets
Debtors 4 122,597 121,662
Cash at bank and in hand 365,509 163,987
488,106 285,649
Creditors: amounts falling due within one year 5 (667,946) (524,231)
Net current liabilities (179,840) (238,582)
Total assets less current liabilities 391,701 419,897
Creditors: amounts falling due after more than one year 6 (279,646) (406,253)
Net assets 112,055 13,644
Capital and reserves
Called up share capital 100 100
Profit and loss account 111,955 13,544
Shareholder's funds 112,055 13,644
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Hakam Ghabra
Director
Approved by the board on 17 October 2023
THE HARLEY STREET EYE CENTRE LIMITED
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% straight line
Motor 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 859,382 5,000 864,382
At 28 February 2023 859,382 5,000 864,382
Depreciation
At 1 March 2022 201,903 4,000 205,903
Charge for the year 85,938 1,000 86,938
At 28 February 2023 287,841 5,000 292,841
Net book value
At 28 February 2023 571,541 - 571,541
At 28 February 2022 657,479 1,000 658,479
4 Debtors 2023 2022
£ £
Trade debtors 71,531 56,000
Other debtors 51,066 65,662
122,597 121,662
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 61,464 61,646
Taxation and social security costs 7,492 6,600
Other creditors 598,990 455,985
667,946 524,231
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 39,768 44,260
Obligations under finance lease and hire purchase contracts 27,104 59,629
Other creditors 212,774 302,364
279,646 406,253
7 Controlling party
The ultimate controlling party was Dr. Marwan Ghabra.
8 Other information
THE HARLEY STREET EYE CENTRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
11 Regents Plaza Apartments
6 Greville Road
London
NW6 5HU
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