EYEC- UK Limited 06041214 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the importation and distribution of computerised scientific equipment. Digita Accounts Production Advanced 6.30.9574.0 true true true 06041214 2023-04-01 2024-03-31 06041214 2024-03-31 06041214 core:CurrentFinancialInstruments 2024-03-31 06041214 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06041214 core:PlantMachinery 2024-03-31 06041214 bus:SmallEntities 2023-04-01 2024-03-31 06041214 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06041214 bus:FilletedAccounts 2023-04-01 2024-03-31 06041214 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06041214 bus:RegisteredOffice 2023-04-01 2024-03-31 06041214 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 06041214 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06041214 core:PlantMachinery 2023-04-01 2024-03-31 06041214 core:ParentEntities 2023-04-01 2024-03-31 06041214 1 2023-04-01 2024-03-31 06041214 countries:EnglandWales 2023-04-01 2024-03-31 06041214 2023-03-31 06041214 core:PlantMachinery 2023-03-31 06041214 2022-04-01 2023-03-31 06041214 2023-03-31 06041214 core:CurrentFinancialInstruments 2023-03-31 06041214 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06041214 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06041214

EYEC- UK Limited


Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

EYEC- UK Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

EYEC- UK Limited

(Registration number: 06041214)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,214.84

2,541.74

Current assets

 

Stocks

5

25,607.88

25,607.88

Debtors

6

86,049.74

154,878.47

Cash at bank and in hand

 

59,034.83

333,919.30

 

170,692.45

514,405.65

Creditors: Amounts falling due within one year

7

(333,997.16)

(653,439.27)

Net current liabilities

 

(163,304.71)

(139,033.62)

Net liabilities

 

(161,089.87)

(136,491.88)

Capital and reserves

 

Called up share capital

101.00

101.00

Profit and loss account

(161,190.87)

(136,592.88)

Shareholders' deficit

 

(161,089.87)

(136,491.88)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
Dr A Kaupp
Company secretary and director

 

EYEC- UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3D Jolly Farmers Lane
Shepshed
Loughborough
Leicestershire
LE12 9ET

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date the company's current liabilities exceeded its current assets. The company is dependent upon the continued financial support of its holding company and largest creditor EYEC GMBH. The financial statements have been prepared on a going concern basis on the basis that this financial support will contine to be forthcoming.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the importation and distribution of computerised scientific equipment in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

EYEC- UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for the importation and distribution of computerised scientific equipment in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

EYEC- UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 April 2023

8,005.37

8,005.37

Additions

1,821.84

1,821.84

Disposals

(5,561.01)

(5,561.01)

At 31 March 2024

4,266.20

4,266.20

Depreciation

At 1 April 2023

5,463.63

5,463.63

Charge for the year

952.70

952.70

Eliminated on disposal

(4,364.97)

(4,364.97)

At 31 March 2024

2,051.36

2,051.36

Carrying amount

At 31 March 2024

2,214.84

2,214.84

At 31 March 2023

2,541.74

2,541.74

5

Stocks

2024
£

2023
£

Other inventories

25,607.88

25,607.88

6

Debtors

2024
£

2023
£

Trade debtors

75,123.83

141,675.80

Prepayments

10,914.68

11,971.63

Other debtors

11.23

1,231.04

86,049.74

154,878.47

 

EYEC- UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

264,135.40

447,162.73

Taxation and social security

32,147.02

49,025.13

Other creditors

37,714.74

157,251.41

333,997.16

653,439.27

8

Related party transactions

Summary of transactions with parent

At the balance sheet date the amount due to EyeC GmbH (parent company) was £263,252.01 (2023- £446,750.50)
 

9

Parent and ultimate parent undertaking

The company's immediate parent is EyeC GmbH, incorporated in Germany.