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REGISTERED NUMBER: 13532402 (England and Wales)















GOOD KARMA EYEWEAR LIMITED

Unaudited Financial Statements for the Year Ended 30 April 2024






GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOOD KARMA EYEWEAR LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mrs L J Laurent





REGISTERED OFFICE: 59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 13532402 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,797 4,050

CURRENT ASSETS
Stocks 144,451 38,300
Debtors 5 118,299 89,919
Cash at bank - 317
262,750 128,536
CREDITORS
Amounts falling due within one year 6 247,671 131,577
NET CURRENT ASSETS/(LIABILITIES) 15,079 (3,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,876

1,009

CREDITORS
Amounts falling due after more than
one year

7

15,459

-
NET ASSETS 21,417 1,009

GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,317 909
21,417 1,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 14 October 2024 and were signed by:





Mrs L J Laurent - Director


GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Good Karma Eyewear 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.

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.

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.


GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 7,200
Additions 20,560
At 30 April 2024 27,760
DEPRECIATION
At 1 May 2023 3,150
Charge for year 2,813
At 30 April 2024 5,963
NET BOOK VALUE
At 30 April 2024 21,797
At 30 April 2023 4,050

GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors 81,164 83,106
Other debtors - 6,813
Prepayments 37,135 -
118,299 89,919

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8)
3,064

8,024
Other loans (see note 8) 48,856 -
Hire purchase contracts 13,930 -
Trade creditors 35,629 20,825
Tax - 223
Social security and other taxes 7,260 -
VAT 11,173 6,404
Other creditors 56,146 91,701
Directors' current accounts 63,994 -
Accrued expenses 7,619 4,400
247,671 131,577

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2024 2023
£    £   
Other loans (see note 8) 15,459 -

GOOD KARMA EYEWEAR LIMITED (REGISTERED NUMBER: 13532402)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 3,064 -
Bank loans - 8,024
Other loans 48,856 -
51,920 8,024

Amounts falling due between two and five years:
Other loans - 2-5 years 15,459 -