RETROSPECTACLE LTD 10604570 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of the online sale of spectacles. Digita Accounts Production Advanced 6.30.9574.0 true true 10604570 2023-03-01 2024-02-29 10604570 2024-02-29 10604570 bus:OrdinaryShareClass1 2024-02-29 10604570 core:RetainedEarningsAccumulatedLosses 2024-02-29 10604570 core:ShareCapital 2024-02-29 10604570 core:CurrentFinancialInstruments 2024-02-29 10604570 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 10604570 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 10604570 core:FurnitureFittingsToolsEquipment 2024-02-29 10604570 bus:SmallEntities 2023-03-01 2024-02-29 10604570 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10604570 bus:FullAccounts 2023-03-01 2024-02-29 10604570 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10604570 bus:RegisteredOffice 2023-03-01 2024-02-29 10604570 bus:Director1 2023-03-01 2024-02-29 10604570 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10604570 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10604570 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 10604570 core:ShareCapital 2023-03-01 2024-02-29 10604570 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 10604570 core:ToolsEquipment 2023-03-01 2024-02-29 10604570 countries:England 2023-03-01 2024-02-29 10604570 2023-02-28 10604570 core:RetainedEarningsAccumulatedLosses 2023-02-28 10604570 core:ShareCapital 2023-02-28 10604570 core:FurnitureFittingsToolsEquipment 2023-02-28 10604570 2022-03-01 2023-02-28 10604570 2023-02-28 10604570 bus:OrdinaryShareClass1 2023-02-28 10604570 core:RetainedEarningsAccumulatedLosses 2023-02-28 10604570 core:ShareCapital 2023-02-28 10604570 core:CurrentFinancialInstruments 2023-02-28 10604570 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 10604570 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 10604570 core:FurnitureFittingsToolsEquipment 2023-02-28 10604570 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 10604570 core:ShareCapital 2022-03-01 2023-02-28 10604570 2022-02-28 10604570 core:RetainedEarningsAccumulatedLosses 2022-02-28 10604570 core:ShareCapital 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10604570

RETROSPECTACLE LTD

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

RETROSPECTACLE LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

RETROSPECTACLE LTD

Company Information

Director

Mr Jim S Nicholson

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants and Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

RETROSPECTACLE LTD

(Registration number: 10604570)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

662

883

Current assets

 

Stocks

5

114,274

119,274

Debtors

6

565

-

Cash at bank and in hand

 

5,111

533

 

119,950

119,807

Creditors: Amounts falling due within one year

7

(91,528)

(84,246)

Net current assets

 

28,422

35,561

Total assets less current liabilities

 

29,084

36,444

Creditors: Amounts falling due after more than one year

7

(5,464)

(10,850)

Net assets

 

23,620

25,594

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

23,520

25,494

Shareholders' funds

 

23,620

25,594

 

RETROSPECTACLE LTD

(Registration number: 10604570)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 March 2024
 

.........................................
Mr Jim S Nicholson
Director

 

RETROSPECTACLE LTD

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

100

25,494

25,594

Profit for the year

-

10,026

10,026

Dividends

-

(12,000)

(12,000)

At 29 February 2024

100

23,520

23,620

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

100

17,418

17,518

Profit for the year

-

12,076

12,076

Dividends

-

(4,000)

(4,000)

At 28 February 2023

100

25,494

25,594

 

RETROSPECTACLE LTD

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the director on 13 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

RETROSPECTACLE LTD

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

RETROSPECTACLE LTD

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

RETROSPECTACLE LTD

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

2,494

2,494

At 29 February 2024

2,494

2,494

Depreciation

At 1 March 2023

1,611

1,611

Charge for the year

221

221

At 29 February 2024

1,832

1,832

Carrying amount

At 29 February 2024

662

662

At 28 February 2023

883

883

5

Stocks

2024
£

2023
£

Other inventories

114,274

119,274

6

Debtors

Current

2024
£

2023
£

Other debtors

565

-

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

1,637

Taxation and social security

3,533

4,253

Accruals and deferred income

960

960

Other creditors

87,035

77,396

91,528

84,246

 

RETROSPECTACLE LTD

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

5,464

10,850

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100