REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Eyeplan Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Eyeplan Limited |
Eyeplan Limited (Registered number: 03449870) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Chairman's Report | 2 |
Abridged Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Eyeplan Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Island House |
Midsomer Norton |
Radstock |
Somerset |
BA3 2DZ |
Eyeplan Limited (Registered number: 03449870) |
Chairman's Report |
for the Year Ended 30 April 2024 |
Eyeplan has had a busy year and we believe we are beginning to see some stabilisation around a new post COVID normal. There is no question that optometric professionals of a certain age, working within the optical sector, have reviewed their work-life balances are continuing to retire from the sector sooner than would otherwise have historically been the case. Significant numbers of independent practices are changing hands with many now becoming part of larger support groups. within the optical industry sector. The strength and value of Eyeplan has left its relationship with such practices intact and flourishing. |
The power of the Eyeplan business model has not diminished at all and in fact the converse is the reality. The business continues to grow and evolve to meet the changing demands of the retail sector. Products and services provided through a subscription model continues to grow in all market sectors and the optical sector is no different. No one can ignore the fact that a regular contracted income stream supports any business’s cashflow significantly and smooths out the peaks and troughs of consumer spending patterns. |
The backbone of Eyeplan has always been its unique bespoke software platform which is now fully commissioned and active. Work has already commenced on the next version where we are going to see further expansion of its capabilities. |
The directors are optimistic for the future and anticipate a growth in profitability moving forward. |
Lastly, I would like to recognise the value of all our dedicated employees for their work and thank them and our investors for their ongoing support. |
Simon Mills FBDO |
Chairman Eyeplan Ltd |
Eyeplan Limited (Registered number: 03449870) |
Abridged Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Eyeplan Limited (Registered number: 03449870) |
Abridged Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Eyeplan Limited (Registered number: 03449870) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Eyeplan Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable for goods and services net of value added tax. |
Tangible fixed assets |
Improvements to property | - |
Computer equipment | - |
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. |
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 |
Eyeplan Limited (Registered number: 03449870) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 | 168,221 |
NET BOOK VALUE |
At 30 April 2024 | 168,221 |
At 30 April 2023 | 168,221 |
Eyeplan Ltd holds 100% of the ordinary share capital of Practice Plan for Professionals Limited, a company incorporated in England and Wales. The principal activities of Practice Plan for Professionals Limited were direct debit collection and administration services for eye care professional (opticians) practices. Practice Plan for Professionals Limited profit for the year was £4,929 (2023: £24 loss) and the capital and reserves at the year-end were a surplus of £7,711 (2023: £2,782). |
Eyeplan also holds 100% of the share capital in Safe Debit Limited. |
Safe Debit Limited made a breakeven for the year (2023: breakeven), and the capital and reserves at year end was a surplus of £6,748 (2023: £6,748). |
Eyeplan Limited (Registered number: 03449870) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | RELATED PARTY DISCLOSURES |
During the year the following dividends were paid to directors: |
C J Clemence £NIL in respect of B share capital (2023: £NIL). |
B F Hobbs £NIL in respect of B share capital (2023: £NIL). |
S T Mills £NIL in respect of B share capital (2023: £NIL). |
S T Mills £NIL in respect of ordinary share capital (2023: £NIL). |
F N Robertson £NIL in respect of B share capital (2023.: £NIL). |
F N Robertson £NIL in respect of ordinary share capital (2023: £NIL). |
During the year Eyeplan Ltd paid rent of £27,600 (2023: £27,600) to Eye-Tech Trading Ltd, a company associated by virtue of having similar directors and shareholders. |
During the year Eyeplan Ltd paid rent of £16,200 (2023: £18,750) to 3 The Island Management Co Ltd, a company associated by virtue of having similar directors and shareholders. |
Eyeplan Ltd received management fees of £176,134 (2023: £168,610) from its' subsidiary, Practice Plan for Professionals Limited. At the balance sheet date the amount outstanding, contained within amounts owed to group undertakings, was £80 (2023: amounts owed by group undertakings £265). |
Eyeplan Ltd received management fees of £7,519 (2023: £4,294) from its' subsidiary, Safe Debit Limited. At the balance sheet date the amount outstanding, contained within amounts owed by group undertakings was £498 (2023: £1,731). |
7. | ULTIMATE CONTROLLING PARTY |
The company does not have a controlling party, the decisions affecting the company are made jointly by the directors. |