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Registered Number: 07285501


 

 

 

GLASS EYE LTD.


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Glass Eye Ltd. for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Glass Eye Ltd. for the year ended 31 December 2023 as set out on pages Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the Board of Directors of Glass Eye Ltd. , as a body, in accordance with the terms of our engagement letter dated 19 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Glass Eye Ltd. and state those matters that we have agreed to state to the Board of Directors of Glass Eye Ltd., as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glass Eye Ltd. and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Glass Eye Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Glass Eye Ltd. . You consider that Glass Eye Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Glass Eye Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory account
31 December 2023



....................................................
John Cumberlidge
Moose Accounting Limited

Studio 512/513
The Custard Factory
Gibb Street
Birmingham
B9 4DP
19 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 22,705    18,009 
22,705    18,009 
Current assets      
Debtors: amounts falling due within one year 435,606    429,807 
Cash at bank and in hand 152,824    108,262 
588,430    538,069 
Creditors: amount falling due within one year (186,926)   (202,901)
Net current assets 401,504    335,168 
 
Total assets less current liabilities 424,209    353,177 
Net assets 424,209    353,177 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 424,109    353,077 
Shareholders' funds 424,209    353,177 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 September 2024 and were signed on its behalf by:


-------------------------------
Dan Light
Director
2
General Information
Glass Eye Ltd. is a private company, limited by shares, registered in the UK, registration number 07285501.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 15% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 9 (2022 : 7).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 6,012    17,297    54,975    78,284 
Additions   634    11,562    12,196 
Disposals      
At 31 December 2023 6,012    17,931    66,537    90,480 
Depreciation
At 01 January 2023 6,000    11,800    42,475    60,275 
Charge for year   1,500    6,000    7,500 
On disposals      
At 31 December 2023 6,000    13,300    48,475    67,775 
Net book values
Closing balance as at 31 December 2023 12    4,631    18,062    22,705 
Opening balance as at 01 January 2023 12    5,497    12,500    18,009 


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