Registered number
12669638
Left Eye Ltd
Filleted Accounts
31 March 2024
Left Eye Ltd
Registered number: 12669638
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 12,300 12,300
Tangible assets 4 3,363 4,484
15,663 16,784
Current assets
Debtors 5 86 1
Cash at bank and in hand 6,031 9,126
6,117 9,127
Creditors: amounts falling due within one year 6 (28,898) (24,963)
Net current liabilities (22,781) (15,836)
Total assets less current liabilities (7,118) 948
Provisions for liabilities (639) (852)
Net (liabilities)/assets (7,757) 96
Capital and reserves
Called up share capital 1 1
Profit and loss account (7,758) 95
Shareholder's funds (7,757) 96
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr T Cochrane
Director
Approved by the board on 31 August 2024
Left Eye Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 10% on a Reducing Balance basis
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 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 12,300
At 31 March 2024 12,300
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 12,300
At 31 March 2023 12,300
Goodwill is not being written off.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,295 4,425 5,720
At 31 March 2024 1,295 4,425 5,720
Depreciation
At 1 April 2023 130 1,106 1,236
Charge for the year 291 830 1,121
At 31 March 2024 421 1,936 2,357
Net book value
At 31 March 2024 874 2,489 3,363
At 31 March 2023 1,165 3,319 4,484
5 Debtors 2024 2023
£ £
Trade debtors 1 -
Other debtors 85 1
86 1
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs (637) 2,504
Other creditors 29,535 22,459
28,898 24,963
7 Other information
Left Eye Ltd is a private company limited by shares and incorporated in England. Its registered office is:
52 Francis Road
London
E10 6PP
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