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Company Registration No. 08781057 (England and Wales)
Harry's Eyewear Ltd Filleted accounts for the year ended 31 March 2023
Harry's Eyewear Ltd Filleted accounts Contents
Page
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Harry's Eyewear Ltd Company Information for the year ended 31 March 2023
Directors
Harshad Thakor Kiran Thakor
Company Number
08781057 (England and Wales)
Registered Office
5-7 Barnby Gate Newark NG24 1PX
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Harry's Eyewear Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
157,294 
Current assets
Inventories
- 
6,000 
Debtors
- 
527 
Cash at bank and in hand
- 
12,988 
- 
19,515 
Creditors: amounts falling due within one year
(15,491)
(50,441)
Net current liabilities
(15,491)
(30,926)
Total assets less current liabilities
(15,491)
126,368 
Creditors: amounts falling due after more than one year
- 
(141,859)
Net liabilities
(15,491)
(15,491)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(15,493)
(15,493)
Shareholders' funds
(15,491)
(15,491)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2023 and were signed on its behalf by
Harshad Thakor Director Company Registration No. 08781057
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Harry's Eyewear Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Harry's Eyewear Ltd is a private company, limited by shares, registered in England and Wales, registration number 08781057. The registered office is 5-7 Barnby Gate, Newark, NG24 1PX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
10% straight line
Fixtures & fittings
20% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Harry's Eyewear Ltd Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
83,168 
Disposals
(83,168)
At 31 March 2023
- 
Amortisation
At 1 April 2022
83,168 
On disposals
(83,168)
At 31 March 2023
- 
Net book value
At 31 March 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
172,976 
23,843 
89,196 
286,015 
Disposals
(172,976)
(23,843)
(89,196)
(286,015)
At 31 March 2023
- 
- 
- 
- 
Depreciation
At 1 April 2022
27,679 
20,854 
80,188 
128,721 
On disposals
(27,679)
(20,854)
(80,188)
(128,721)
At 31 March 2023
- 
- 
- 
- 
Net book value
At 31 March 2023
- 
- 
- 
- 
At 31 March 2022
145,297 
2,989 
9,008 
157,294 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
527 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
15,179 
Obligations under finance leases and hire purchase contracts
- 
8,270 
Trade creditors
- 
3,067 
Amounts owed to group undertakings and other participating interests
14,785 
21,254 
Taxes and social security
- 
1,875 
Accruals
706 
796 
15,491 
50,441 
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Harry's Eyewear Ltd Notes to the Accounts for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
138,613 
Obligations under finance leases and hire purchase contracts
- 
3,246 
- 
141,859 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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