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Registration number: 06461565

Eyetech Optical Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Eyetech Optical Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Eyetech Optical Limited

Company Information

Director

Mr G Evans

Registered office

Red Robin House
11 Aldborough Spur
Slough
Berkshire
SL1 3EN

Accountants

Ardmore Accountancy Limited
Chartered Certified Accountants
Suite 2
Jupiter Business Suites
30a Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7DA

 

Eyetech Optical Limited

(Registration number: 06461565)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

237

296

Current assets

 

Debtors

5

23,776

14,079

Cash at bank and in hand

 

16,886

14,547

 

40,662

28,626

Creditors: Amounts falling due within one year

6

(17,061)

(12,445)

Net current assets

 

23,601

16,181

Net assets

 

23,838

16,477

Capital and reserves

 

Called up share capital

200

200

Retained earnings

23,638

16,277

Shareholders' funds

 

23,838

16,477

For the financial year ending 31 January 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 15 September 2024
 

Mr G Evans
Director

   
     
 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
Red Robin House
11 Aldborough Spur
Slough
Berkshire
SL1 3EN

These financial statements were authorised for issue by the director on 15 September 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.

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.

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.

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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

Plant and machinery

20% reducing balance basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

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 1 (2023 - 1).

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

6,058

6,058

At 31 January 2024

6,058

6,058

Depreciation

At 1 February 2023

5,762

5,762

Charge for the year

59

59

At 31 January 2024

5,821

5,821

Carrying amount

At 31 January 2024

237

237

At 31 January 2023

296

296

5

Debtors

Current

2024
£

2023
£

Trade debtors

21,789

6,353

Prepayments

1,232

6,971

Other debtors

755

755

 

23,776

14,079

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to related parties

8

1,410

11

Taxation and social security

 

11,587

6,806

Accruals and deferred income

 

1,850

2,100

Other creditors

 

2,214

3,528

 

17,061

12,445

 

Eyetech Optical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

4,250

8,375

Later than one year and not later than five years

-

4,250

4,250

12,625

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,014 (2023 - £9,340).

8

Related party transactions

Other transactions with the director

The director operates a director's loan account. This loan is interest free and repayable on demand. At the balance sheet date the amount due to the director from the company was £1,410 (2023: £11).