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REGISTERED NUMBER: 05044641 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

EYELAND VISIONCARE LIMITED

EYELAND VISIONCARE LIMITED (REGISTERED NUMBER: 05044641)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EYELAND VISIONCARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: A Okenabirhie





REGISTERED OFFICE: 81 Burdett Road
Bow
London
E3 4JN





REGISTERED NUMBER: 05044641 (England and Wales)





ACCOUNTANTS: Arithma Accountants Limited
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD

EYELAND VISIONCARE LIMITED (REGISTERED NUMBER: 05044641)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 72,684 60,918
72,684 60,918

CURRENT ASSETS
Stocks 10,150 8,850
Debtors 6 30,590 36,618
Cash at bank and in hand 22,676 49,341
63,416 94,809
CREDITORS
Amounts falling due within one year 7 35,991 30,334
NET CURRENT ASSETS 27,425 64,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,109

125,393

CREDITORS
Amounts falling due after more than one
year

8

77,820

74,365
NET ASSETS 22,289 51,028

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,189 50,928
SHAREHOLDERS' FUNDS 22,289 51,028

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.

EYELAND VISIONCARE LIMITED (REGISTERED NUMBER: 05044641)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 1 October 2024 and were signed by:





A Okenabirhie - Director


EYELAND VISIONCARE LIMITED (REGISTERED NUMBER: 05044641)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Eyeland Visioncare 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, 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.

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 - 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.


EYELAND VISIONCARE LIMITED (REGISTERED NUMBER: 05044641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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.

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 30,000
AMORTISATION
At 1 March 2023
and 29 February 2024 30,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

EYELAND VISIONCARE LIMITED (REGISTERED NUMBER: 05044641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 1 167,297 167,298
Additions - 26,995 26,995
At 29 February 2024 1 194,292 194,293
DEPRECIATION
At 1 March 2023 - 106,380 106,380
Charge for year - 15,229 15,229
At 29 February 2024 - 121,609 121,609
NET BOOK VALUE
At 29 February 2024 1 72,683 72,684
At 28 February 2023 1 60,917 60,918

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,620 9,984
Other debtors 25,970 26,634
30,590 36,618

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 29,239 29,239
Taxation and social security 437 200
Other creditors 6,315 895
35,991 30,334

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Bank loans consist of a government backed bounce-back loan, on which 2.5% interest is payable from the anniversary of the receipt of the loan, unless the loan is repaid prior to the anniversary date.

9. RELATED PARTY DISCLOSURES

The director and shareholder Mr A Okenabirhie was paid a dividend of £32,000 (2023 £44,000 ) for the year ended 29 February 2024.