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REGISTERED NUMBER: 05360201 (England and Wales)















MIRACLE EYES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






MIRACLE EYES LIMITED (REGISTERED NUMBER: 05360201)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MIRACLE EYES LIMITED

COMPANY INFORMATION
for the Year Ended 29 FEBRUARY 2024







DIRECTOR: B S Kainth





SECRETARY: Dr J S Kainth





REGISTERED OFFICE: Unit 4 Marsh Lane Parade
Three Tuns
Fordhouses
Wolverhampton
West Midlands
WV10 6RT





REGISTERED NUMBER: 05360201 (England and Wales)





ACCOUNTANTS: Wallace Crooke
Chartered Accountants
College House
St. Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

MIRACLE EYES LIMITED (REGISTERED NUMBER: 05360201)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,047 48,191

CURRENT ASSETS
Stocks 6,500 7,700
Debtors 5 8,410 5,371
Cash at bank and in hand 725,028 575,833
739,938 588,904
CREDITORS
Amounts falling due within one year 6 77,530 58,129
NET CURRENT ASSETS 662,408 530,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

712,455

578,966

PROVISIONS FOR LIABILITIES 7 12,500 -
NET ASSETS 699,955 578,966

CAPITAL AND RESERVES
Called up share capital 8 101 4
Retained earnings 699,854 578,962
SHAREHOLDERS' FUNDS 699,955 578,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 16 October 2024 and were signed by:



B S Kainth - Director


MIRACLE EYES LIMITED (REGISTERED NUMBER: 05360201)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Miracle Eyes 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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.
Equipment fixtures and fittings - 10% to 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.

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.

MIRACLE EYES LIMITED (REGISTERED NUMBER: 05360201)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Equipment
fixtures
and
fittings
£   
COST
At 1 March 2023 462,997
Additions 11,104
At 29 February 2024 474,101
DEPRECIATION
At 1 March 2023 414,806
Charge for year 9,248
At 29 February 2024 424,054
NET BOOK VALUE
At 29 February 2024 50,047
At 28 February 2023 48,191

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,410 5,371

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,373 531
Taxation and social security 71,328 54,549
Other creditors 3,829 3,049
77,530 58,129

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,500 -

Deferred
tax
£   
Provided during year 12,500
Balance at 29 February 2024 12,500

MIRACLE EYES LIMITED (REGISTERED NUMBER: 05360201)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 3
(2023 - 3 )
1 B Ordinary share £1 1 1
101 4

The following shares were issued during the year for cash at par :

97 Ordinary shares of £1

97 ordinary shares were issued at par during the year.