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REGISTERED NUMBER: 04322301











Financial Statements

for the Year Ended 31 December 2023

for

EMPORIUM EYEWEAR LIMITED

EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EMPORIUM EYEWEAR LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr I J Cohen
Mr M Cooperman





REGISTERED OFFICE: 3 Parr Road
Stanmore
HA7 1NP





REGISTERED NUMBER: 04322301





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,358 115,016
Investments 5 2,591,069 2,400,473
2,692,427 2,515,489

CURRENT ASSETS
Stocks 6 1,230,521 1,554,003
Debtors 7 1,070,265 1,070,907
Cash at bank and in hand 2,069,340 3,845,871
4,370,126 6,470,781
CREDITORS
Amounts falling due within one year 8 429,269 421,376
NET CURRENT ASSETS 3,940,857 6,049,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,633,284

8,564,894

PROVISIONS FOR LIABILITIES 9 7,397 7,397
NET ASSETS 6,625,887 8,557,497

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 6,625,687 8,557,297
SHAREHOLDERS' FUNDS 6,625,887 8,557,497

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 directors acknowledge their 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.

EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:




Mr M Cooperman - Director



Mr I J Cohen - Director


EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Emporium Eyewear Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 61,557 142,037 41,289 74,004 318,887
Additions - - 15,000 4,120 19,120
Disposals - - (14,796 ) - (14,796 )
At 31 December 2023 61,557 142,037 41,493 78,124 323,211
DEPRECIATION
At 1 January 2023 24,624 103,045 21,267 54,935 203,871
Charge for year 6,155 9,748 5,542 5,272 26,717
Eliminated on disposal - - (8,735 ) - (8,735 )
At 31 December 2023 30,779 112,793 18,074 60,207 221,853
NET BOOK VALUE
At 31 December 2023 30,778 29,244 23,419 17,917 101,358
At 31 December 2022 36,933 38,992 20,022 19,069 115,016

5. FIXED ASSET INVESTMENTS
Unlisted
investme
£   
COST OR VALUATION
At 1 January 2023 2,400,473
Additions 5,672,937
Disposals (5,542,817 )
Revaluations 60,562
Reclassification/transfer (86 )
At 31 December 2023 2,591,069
NET BOOK VALUE
At 31 December 2023 2,591,069
At 31 December 2022 2,400,473

EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:

Unlisted
investme
£   
Valuation in 2022 8,533
Valuation in 2023 60,562
Cost 2,521,974
2,591,069

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 1,230,521 1,554,003

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 842,024 903,906
Other debtors 201,241 130,556
Prepayments and accrued income 27,000 36,445
1,070,265 1,070,907

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 121,311 168
Trade creditors 15,076 9,437
Tax 260,485 364,495
Social security and other taxes 15,455 14,529
VAT 2,350 17,891
Other creditors 86 86
Directors' current accounts 5,000 3,000
Accruals and deferred income 9,506 11,770
429,269 421,376

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 7,397 7,397

EMPORIUM EYEWEAR LIMITED (REGISTERED NUMBER: 04322301)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 7,397
Balance at 31 December 2023 7,397

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
NIL Ordinary. £1 - 200
20,000 Ordinary 1p 200 -
3 A Ordinary 1p - -
2 B Ordinary 1p - -
200 200

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
20,000 Share capital 2 1p 200 -
3 Share capital 4 1p - -
2 Share capital 5 1p - -
200 -

The following shares were issued during the year:

3 A Ordinary shares of 1p for cash of £ 1,200
2 B Ordinary shares of 1p for cash of £ 800

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed an amount of £5,000 (2022: £3,000) to the directors. The amount is interest free & repayable on demand.