IRIS Accounts Production v24.2.0.383 02193203 director 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021932032022-12-31021932032023-12-31021932032023-01-012023-12-31021932032021-12-31021932032022-01-012022-12-31021932032022-12-3102193203ns15:EnglandWales2023-01-012023-12-3102193203ns14:PoundSterling2023-01-012023-12-3102193203ns10:Director12023-01-012023-12-3102193203ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102193203ns10:SmallEntities2023-01-012023-12-3102193203ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3102193203ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102193203ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102193203ns10:FullAccounts2023-01-012023-12-310219320312023-01-012023-12-3102193203ns10:OrdinaryShareClass12023-01-012023-12-3102193203ns10:CompanySecretary12023-01-012023-12-3102193203ns10:RegisteredOffice2023-01-012023-12-3102193203ns5:CurrentFinancialInstruments2023-12-3102193203ns5:CurrentFinancialInstruments2022-12-3102193203ns5:Non-currentFinancialInstruments2023-12-3102193203ns5:Non-currentFinancialInstruments2022-12-3102193203ns5:ShareCapital2023-12-3102193203ns5:ShareCapital2022-12-3102193203ns5:RetainedEarningsAccumulatedLosses2023-12-3102193203ns5:RetainedEarningsAccumulatedLosses2022-12-3102193203ns5:NetGoodwill2023-01-012023-12-3102193203ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102193203ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3102193203ns5:PlantMachinery2023-01-012023-12-3102193203ns5:FurnitureFittings2023-01-012023-12-3102193203ns5:MotorVehicles2023-01-012023-12-3102193203ns5:NetGoodwill2022-12-3102193203ns5:NetGoodwill2023-12-3102193203ns5:NetGoodwill2022-12-3102193203ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3102193203ns5:PlantMachinery2022-12-3102193203ns5:FurnitureFittings2022-12-3102193203ns5:MotorVehicles2022-12-3102193203ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3102193203ns5:PlantMachinery2023-12-3102193203ns5:FurnitureFittings2023-12-3102193203ns5:MotorVehicles2023-12-3102193203ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3102193203ns5:PlantMachinery2022-12-3102193203ns5:FurnitureFittings2022-12-3102193203ns5:MotorVehicles2022-12-3102193203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3102193203ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3102193203ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3102193203ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3102193203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3102193203ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-12-3102193203ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3102193203ns5:LeasedAssetsHeldAsLessee2023-12-3102193203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:LeasedAssetsHeldAsLessee2022-12-3102193203ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102193203ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3102193203ns5:Secured2023-12-3102193203ns5:Secured2022-12-3102193203ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3102193203ns5:AcceleratedTaxDepreciationDeferredTax2022-12-3102193203ns5:DeferredTaxation2022-12-3102193203ns5:DeferredTaxation2023-12-3102193203ns10:OrdinaryShareClass12023-12-3102193203ns5:RetainedEarningsAccumulatedLosses2022-12-3102193203ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 02193203 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

LONDON EYE CARE CENTRE LIMITED

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


LONDON EYE CARE CENTRE LIMITED

Company Information
for the year ended 31 December 2023







Director: N Govindasami





Secretary: Mrs J Govindasami





Registered office: 30 Knights Hill
London
SE27 0HY





Registered number: 02193203 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Accountants' Report to the Director
on the Unaudited Financial Statements of
London Eye Care Centre Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of London Eye Care Centre Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of London Eye Care Centre Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of London Eye Care Centre Limited and state those matters that we have agreed to state to the director of London Eye Care Centre Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than London Eye Care Centre Limited and its director for our work or for this report.

It is your duty to ensure that London Eye Care Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of London Eye Care Centre Limited. You consider that London Eye Care Centre Limited 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 financial statements of London Eye Care Centre Limited. 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 financial statements.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


18 September 2024

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 65,000 78,000
Tangible assets 5 227,134 151,546
292,134 229,546

Current assets
Stocks 15,000 15,000
Debtors 6 613,381 437,356
Cash at bank 247,710 320,996
876,091 773,352
Creditors
Amounts falling due within one year 7 117,548 122,137
Net current assets 758,543 651,215
Total assets less current liabilities 1,050,677 880,761

Creditors
Amounts falling due after more than one
year

8

(258,369

)

(197,691

)

Provisions for liabilities 10 (54,409 ) (18,108 )
Net assets 737,899 664,962

Capital and reserves
Called up share capital 11 2 2
Retained earnings 12 737,897 664,960
Shareholders' funds 737,899 664,962

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.

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





N Govindasami - Director


LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

London Eye Care Centre 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.

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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 amount paid in connection with the acquisition of businesses in 2007, 2013 and 2019, is being amortised evenly over its estimated useful life of ten 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.

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - Straight line over 15 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 8 (2022 - 7 ) .

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 212,376
Amortisation
At 1 January 2023 134,376
Amortisation for year 13,000
At 31 December 2023 147,376
Net book value
At 31 December 2023 65,000
At 31 December 2022 78,000

5. Tangible fixed assets
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 January 2023 26,116 161,171 102,739 69,750 359,776
Additions - 14,500 81,900 50,925 147,325
Disposals - - - (69,750 ) (69,750 )
At 31 December 2023 26,116 175,671 184,639 50,925 437,351
Depreciation
At 1 January 2023 17,009 74,437 86,268 30,516 208,230
Charge for year 1,820 22,409 5,091 3,183 32,503
Eliminated on disposal - - - (30,516 ) (30,516 )
At 31 December 2023 18,829 96,846 91,359 3,183 210,217
Net book value
At 31 December 2023 7,287 78,825 93,280 47,742 227,134
At 31 December 2022 9,107 86,734 16,471 39,234 151,546

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 January 2023 81,154 - - 81,154
Additions - 81,900 50,925 132,825
At 31 December 2023 81,154 81,900 50,925 213,979
Depreciation
At 1 January 2023 23,186 - - 23,186
Charge for year 11,593 975 3,183 15,751
At 31 December 2023 34,779 975 3,183 38,937
Net book value
At 31 December 2023 46,375 80,925 47,742 175,042
At 31 December 2022 57,968 - - 57,968

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 15,229 12,731
Other debtors 598,152 424,625
613,381 437,356

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 27,594 27,310
Hire purchase contracts 32,994 10,622
Trade creditors 28,519 35,919
Taxation and social security 22,772 43,436
Other creditors 5,669 4,850
117,548 122,137

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 119,554 146,014
Hire purchase contracts 138,815 51,677
258,369 197,691

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Creditors: amounts falling due after more than one year - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 31,610 48,987
Hire purchase 2,260 15,773
33,870 64,760

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 147,148 173,324

The bank loan is secured by way of a fixed and floating charge over all the assets of the Company.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 54,409 18,108

Deferred
tax
£   
Balance at 1 January 2023 18,108
Accelerated capital allowances 36,301
Balance at 31 December 2023 54,409

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

LONDON EYE CARE CENTRE LIMITED (REGISTERED NUMBER: 02193203)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


12. Reserves
Retained
earnings
£   

At 1 January 2023 664,960
Profit for the year 138,937
Dividends (66,000 )
At 31 December 2023 737,897

13. Related party disclosures

At 31 December 2023 the Company was owed £574,424 (2022 £401,283) by NJLPGOV Limited, there is no set repayment date and no interest is charge on the loan.

The two Companies have a common director and shareholder.