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REGISTERED NUMBER: NI606495 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

R N EYEWEAR LTD

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


R N EYEWEAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R Nicholl
Ms M Nicholl





REGISTERED OFFICE: 21 Main Street
Clogher
BT76 0AA





REGISTERED NUMBER: NI606495 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 55,397 73,864
Tangible assets 5 71,653 71,204
127,050 145,068

CURRENT ASSETS
Stocks 60,123 35,500
Debtors 6 243,045 253,542
Cash at bank 1,230 10,616
304,398 299,658
CREDITORS
Amounts falling due within one year 7 261,686 246,258
NET CURRENT ASSETS 42,712 53,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,762

198,468

CREDITORS
Amounts falling due after more than one
year

8

(62,769

)

(94,098

)

PROVISIONS FOR LIABILITIES (17,913 ) (13,032 )
NET ASSETS 89,080 91,338

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 89,060 91,318
89,080 91,338

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

BALANCE SHEET - continued
31 OCTOBER 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 25 October 2024 and were signed on its behalf by:





R Nicholl - Director


R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

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


1. STATUTORY INFORMATION

R N Eyewear Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Significant judgements and estimates
The directors do not consider there to be any estimates or judgements included in the financial statements.

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 is being amortised over 15 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% 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
All financial instruments of the company are considered to meet the definition of basic financial instruments.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Cash
Cash comprises cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial in which cases they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and the redemption value being recognised in the statement of income statement over the period of the borrowings, together with any interest and fees payable using the effective interst method.


R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

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


2. ACCOUNTING POLICIES - continued
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.

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 11 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 277,000
AMORTISATION
At 1 November 2022 203,136
Charge for year 18,467
At 31 October 2023 221,603
NET BOOK VALUE
At 31 October 2023 55,397
At 31 October 2022 73,864

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 199,227
Additions 17,855
At 31 October 2023 217,082
DEPRECIATION
At 1 November 2022 128,023
Charge for year 17,406
At 31 October 2023 145,429
NET BOOK VALUE
At 31 October 2023 71,653
At 31 October 2022 71,204

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 76,985 153,828
Amounts owed by related parties 163,273 97,273
Other debtors 2,787 2,441
243,045 253,542

Amounts owed by related parties are unsecured, interst free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 31,706 16,900
Hire purchase contracts 11,903 13,983
Trade creditors 93,741 60,306
Amounts owed to related parties 17,498 22,715
Taxation and social security 22,341 43,532
Other creditors 84,497 88,822
261,686 246,258

Hire purchase contracts are secured over the assets to which they relate.

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 28,884 48,309
Hire purchase contracts 33,885 45,789
62,769 94,098

9. CHARGES

There is a floating charge over all property of the company.