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The Eyes Corner Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 October 2023
Phoenix Accounting Services Ltd
MAAT
3 Selsey Bus Ctr
Selsey
Chichester
PO20 0RS
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 11644517
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54 139
54 139
CURRENT ASSETS
Stocks 2,386 2,000
Debtors 132 471
Cash at bank and in hand 2,184 814
4,702 3,285
Creditors: Amounts Falling Due Within One Year (9,787 ) (10,953 )
NET CURRENT ASSETS (LIABILITIES) (5,085 ) (7,668 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,031 ) (7,529 )
NET LIABILITIES (5,031 ) (7,529 )
CAPITAL AND RESERVES
Called up share capital 5 1 -
Profit and Loss Account (5,032 ) (7,529 )
SHAREHOLDERS' FUNDS (5,031) (7,529)
Page 1
Page 2
For the year ending 31 October 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 her 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 October 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Ms Natalia Jesurun
Director
06/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
The Eyes Corner Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11644517 . The registered office is 3 Selsey Business Centre, The Bridleway, Selsey, PO20 0RS.
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:
Fixtures & Fittings 20%
Computer Equipment 33.3%
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 November 2022 3,207
As at 31 October 2023 3,207
Depreciation
As at 1 November 2022 3,068
Provided during the period 85
As at 31 October 2023 3,153
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 October 2023 54
As at 1 November 2022 139
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 -
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