Registered number
09705525
Cornwall Eye Consultant Ltd
Filleted Accounts
31 March 2023
Cornwall Eye Consultant Ltd
Registered number: 09705525
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 507,549 518,555
Investments 4 86,647 66,100
594,196 584,655
Current assets
Debtors 5 5,950 3,858
Cash at bank and in hand 28,916 23,655
34,866 27,513
Creditors: amounts falling due within one year 6 (40,697) (30,771)
Net current liabilities (5,831) (3,258)
Total assets less current liabilities 588,365 581,397
Creditors: amounts falling due after more than one year 7 (200,000) (200,000)
Net assets 388,365 381,397
Capital and reserves
Called up share capital 4 4
Profit and loss account 388,361 381,393
Shareholders' funds 388,365 381,397
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Dr Julia Elizabeth Hale
Director
Approved by the board on 1 March 2024
Cornwall Eye Consultant Ltd
Notes to the Accounts
for the year ended 31 March 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 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 538,863 3,241 542,104
Additions - 110 110
At 31 March 2023 538,863 3,351 542,214
Depreciation
At 1 April 2022 21,555 1,994 23,549
Charge for the year 10,777 339 11,116
At 31 March 2023 32,332 2,333 34,665
Net book value
At 31 March 2023 506,531 1,018 507,549
At 31 March 2022 517,308 1,247 518,555
4 Investments
Other
investments
£
Cost
At 1 April 2022 66,100
Additions 20,547
At 31 March 2023 86,647
5 Debtors 2023 2022
£ £
Deferred tax asset 5,950 3,858
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,387 5,129
Other creditors 36,310 25,642
40,697 30,771
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 200,000 200,000
8 Related party transactions
At the period end the company owed £25,148 (2022: £18,482) to Dr Salem Murjaneh and Dr Julia Elizabeth Hale, directors. The loan is interest free and repayable after less than one year.
9 Related party transactions - interest bearing
At the period end the company owed £200,000 to Dr Salem Murjaneh and Dr Julia Elizabeth Hale, directors. The loan is subject to 2% interest per annum and repayable after more than one year.
10 Controlling party
The company is ultimately controlled by Dr Salem Murjaneh and Dr Julia Elizabeth Hale, directors, who together own 100% of the share capital.
11 Other information
Cornwall Eye Consultant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
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