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Registered number: 03882888










THE EYE CARE CENTRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
THE EYE CARE CENTRE LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 6


 
THE EYE CARE CENTRE LIMITED
REGISTERED NUMBER: 03882888

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
968
1,144

Current assets
  

Stocks
  
24,000
24,000

Debtors: amounts falling due within one year
 6 
15,011
8,095

Cash at bank and in hand
  
94,972
84,933

  
133,983
117,028

Creditors: amounts falling due within one year
 7 
(32,352)
(18,132)

Net current assets
  
 
 
101,631
 
 
98,896

Total assets less current liabilities
  
102,599
100,040

  

Net assets
  
102,599
100,040


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
2,599
40

  
102,599
100,040


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 January 2025.



Mr S. Jolly
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
THE EYE CARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Eye Care Centre Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is Rutland House, 148 Edmund Street, Birmingham, B3 2FD. Its principal place of business is 796 High Street, Kingswinford, West Midlands, DY6 8AA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
THE EYE CARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life being 20 years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Short term leasehold property
-
over the term of the lease
Fixtures and fittings
-
15% reducing balance
Computer equipment
-
33% reducing balance
Property alterations
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stock.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
THE EYE CARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
53,999



At 30 April 2024

53,999



Amortisation


At 1 May 2023
53,999



At 30 April 2024

53,999



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 4

 
THE EYE CARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Short term leasehold property
Fixtures & fittings
Computer equipment
Property alterations
Total

£
£
£
£
£



Cost 


At 1 May 2023
3,075
36,284
4,478
5,422
49,259



At 30 April 2024

3,075
36,284
4,478
5,422
49,259



Depreciation


At 1 May 2023
3,075
35,218
4,478
5,344
48,115


Charge for the year on owned assets
-
160
-
16
176



At 30 April 2024

3,075
35,378
4,478
5,360
48,291



Net book value



At 30 April 2024
-
906
-
62
968



At 30 April 2023
-
1,066
-
78
1,144


6.


Debtors

2024
2023
£
£


Trade debtors
13,214
5,803

Other debtors
1,097
1,592

Prepayments and accrued income
700
700

15,011
8,095


Page 5

 
THE EYE CARE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,728
-

Corporation tax
17,926
12,185

Other taxation and social security
845
-

Other creditors
612
646

Accruals and deferred income
5,241
5,301

32,352
18,132


 
Page 6