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REGISTERED NUMBER: 05516322 (England and Wales)


















MERLIN EYECARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






MERLIN EYECARE LIMITED (REGISTERED NUMBER: 05516322)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MERLIN EYECARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr P I Harries





SECRETARY: Mrs M P Harries





REGISTERED OFFICE: Westwinds
3 Fairways
Barrack Hill
Pembroke Dock
Pembrokeshire
SA72 6NU





REGISTERED NUMBER: 05516322 (England and Wales)





ACCOUNTANTS: Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW

MERLIN EYECARE LIMITED (REGISTERED NUMBER: 05516322)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,167 14,167
Tangible assets 5 5,990 7,987
15,157 22,154

CURRENT ASSETS
Stocks 24,809 32,375
Debtors 28,341 18,616
Cash at bank and in hand 47,365 76,287
100,515 127,278
CREDITORS
Amounts falling due within one year 73,615 62,794
NET CURRENT ASSETS 26,900 64,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,057

86,638

CREDITORS
Amounts falling due after more than
one year

(14,255

)

(24,181

)

PROVISIONS FOR LIABILITIES (929 ) (1,263 )
NET ASSETS 26,873 61,194

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 26,871 61,192
SHAREHOLDERS' FUNDS 26,873 61,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MERLIN EYECARE LIMITED (REGISTERED NUMBER: 05516322)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





Mr P I Harries - Director


MERLIN EYECARE LIMITED (REGISTERED NUMBER: 05516322)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Merlin Eyecare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Given the current trading performance of the company, the projected revenue earnings as well as continued support from the directors, the directors are confident that the accounts can be prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MERLIN EYECARE LIMITED (REGISTERED NUMBER: 05516322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 100,000
AMORTISATION
At 1 January 2023 85,833
Amortisation for year 5,000
At 31 December 2023 90,833
NET BOOK VALUE

At 31 December 2023 9,167
At 31 December 2022 14,167

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 113,540
DEPRECIATION
At 1 January 2023 105,553
Charge for year 1,997
At 31 December 2023 107,550
NET BOOK VALUE
At 31 December 2023 5,990
At 31 December 2022 7,987

MERLIN EYECARE LIMITED (REGISTERED NUMBER: 05516322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,255 34,181

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P I Harries and a close family member.