Acorah Software Products - Accounts Production 14.5.601 false true 30 September 2022 1 October 2021 false 1 October 2022 30 September 2023 30 September 2023 02649779 Mr Fuad Mohammadi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02649779 2022-09-30 02649779 2023-09-30 02649779 2022-10-01 2023-09-30 02649779 frs-core:CurrentFinancialInstruments 2023-09-30 02649779 frs-core:Non-currentFinancialInstruments 2023-09-30 02649779 frs-core:ComputerEquipment 2023-09-30 02649779 frs-core:ComputerEquipment 2022-10-01 2023-09-30 02649779 frs-core:ComputerEquipment 2022-09-30 02649779 frs-core:FurnitureFittings 2023-09-30 02649779 frs-core:FurnitureFittings 2022-10-01 2023-09-30 02649779 frs-core:FurnitureFittings 2022-09-30 02649779 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 02649779 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02649779 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-09-30 02649779 frs-core:PlantMachinery 2023-09-30 02649779 frs-core:PlantMachinery 2022-10-01 2023-09-30 02649779 frs-core:PlantMachinery 2022-09-30 02649779 frs-core:ShareCapital 2023-09-30 02649779 frs-core:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 02649779 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 02649779 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 02649779 frs-bus:FilletedAccounts 2022-10-01 2023-09-30 02649779 frs-bus:SmallEntities 2022-10-01 2023-09-30 02649779 frs-bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 02649779 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 02649779 frs-bus:OrdinaryShareClass3 2022-10-01 2023-09-30 02649779 frs-bus:OrdinaryShareClass3 2023-09-30 02649779 frs-bus:Director1 2022-10-01 2023-09-30 02649779 frs-bus:Director1 2022-09-30 02649779 frs-bus:Director1 2023-09-30 02649779 frs-core:CurrentFinancialInstruments 3 2023-09-30 02649779 frs-countries:EnglandWales 2022-10-01 2023-09-30 02649779 2021-09-30 02649779 2022-09-30 02649779 2021-10-01 2022-09-30 02649779 frs-core:CurrentFinancialInstruments 2022-09-30 02649779 frs-core:Non-currentFinancialInstruments 2022-09-30 02649779 frs-core:ShareCapital 2021-10-01 2022-09-30 02649779 frs-core:ShareCapital 2021-09-30 02649779 frs-core:ShareCapital 2022-09-30 02649779 frs-core:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 02649779 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-09-30 02649779 frs-core:RetainedEarningsAccumulatedLosses 2022-09-30 02649779 frs-bus:OrdinaryShareClass3 2021-10-01 2022-09-30 02649779 frs-core:CurrentFinancialInstruments 3 2022-09-30
Registered number: 02649779
Eyelevel Optometrists Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Eyelevel Optometrists Limited for the year ended 30 September 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Eyelevel Optometrists Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Eyelevel Optometrists Limited , as a body, in accordance with the terms of our engagement letter dated 22 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Eyelevel Optometrists Limited and state those matters that we have agreed to state to the director of Eyelevel Optometrists Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eyelevel Optometrists Limited and its director as a body for our work or for this report.
It is your duty to ensure that Eyelevel Optometrists 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 or loss of Eyelevel Optometrists Limited . You consider that Eyelevel Optometrists 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 Eyelevel Optometrists 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 financial statements.
Signed
16th April 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 02649779
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,323 28,308
28,323 28,308
CURRENT ASSETS
Stocks 5 84,000 55,178
Debtors 6 26,063 -
Cash at bank and in hand 23,210 118,747
133,273 173,925
Creditors: Amounts Falling Due Within One Year 7 (150,768 ) (187,325 )
NET CURRENT ASSETS (LIABILITIES) (17,495 ) (13,400 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,828 14,908
Creditors: Amounts Falling Due After More Than One Year 8 (9,605 ) (14,642 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (836 ) -
NET ASSETS 387 266
CAPITAL AND RESERVES
Called up share capital 10 45 45
Profit and Loss Account 342 221
SHAREHOLDERS' FUNDS 387 266
Page 2
Page 3
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Fuad Mohammadi
Director
16th April 2024
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 October 2021 45 293,951 293,996
Profit for the year and total comprehensive income - 101,215 101,215
Purchase of own shares - (394,945 ) (394,945)
As at 30 September 2022 and 1 October 2022 45 221 266
Profit for the year and total comprehensive income - 42,121 42,121
Dividends paid - (42,000) (42,000)
As at 30 September 2023 45 342 387
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Eyelevel Optometrists Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02649779 . The registered office is 37 Upper Street, London, Islington, N1 0PN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over the lease period
Plant & Machinery 20% Reducing balance method
Fixtures & Fittings 20% Reducing balance method
Computer Equipment 33.33% Reducing balance method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 5
Page 6
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 5)
3 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2022 79,877 13,690 49,336 - 142,903
Additions - 394 - 2,915 3,309
As at 30 September 2023 79,877 14,084 49,336 2,915 146,212
Depreciation
As at 1 October 2022 52,545 13,690 48,360 - 114,595
Provided during the period 2,733 13 195 353 3,294
As at 30 September 2023 55,278 13,703 48,555 353 117,889
Net Book Value
As at 30 September 2023 24,599 381 781 2,562 28,323
As at 1 October 2022 27,332 - 976 - 28,308
5. Stocks
2023 2022
£ £
Stock 84,000 55,178
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 18,938 -
VAT 3,064 -
Director's loan account 4,061 -
26,063 -
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 54,487 22,067
Bank loans and overdrafts 6,395 6,485
Corporation tax 78,597 75,427
Other taxes and social security 467 18,393
VAT - 967
Credit card 6,148 -
Accruals and deferred income 4,674 -
Director's loan account - 63,986
150,768 187,325
Page 6
Page 7
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 9,605 14,642
9,605 14,642
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 836 -
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
45 Ordinary B shares of £ 1.00 each 45 45
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr Fuad Mohammadi - 4,061 4,061 - -
The above loan is unsecured, interest free and repayable on demand.
Page 7