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REGISTERED NUMBER: 03449870 (England and Wales)















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: C J Clemence
S T Mills
F N Robertson





SECRETARY: F N Robertson





REGISTERED OFFICE: The Old Surgery
St Chads Avenue
Midsomer Norton
Radstock
Somerset
BA3 2HG





REGISTERED NUMBER: 03449870 (England and Wales)





ACCOUNTANTS: King Watkins Ltd
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 27,120 33,292
Investments 5 168,221 168,221
195,341 201,513

CURRENT ASSETS
Stocks 20,583 20,583
Debtors 78,488 90,512
Cash at bank 328,671 332,361
427,742 443,456
CREDITORS
Amounts falling due within one year 118,114 116,910
NET CURRENT ASSETS 309,628 326,546
TOTAL ASSETS LESS CURRENT LIABILITIES 504,969 528,059

PROVISIONS FOR LIABILITIES 5,153 6,325
NET ASSETS 499,816 521,734

CAPITAL AND RESERVES
Called up share capital 17,972 17,972
Share premium 25,380 25,380
Retained earnings 456,464 478,382
SHAREHOLDERS' FUNDS 499,816 521,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by:





F N Robertson - Director


Eyeplan Limited (Registered number: 03449870)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Eyeplan 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 represents amounts receivable for goods and services net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Computer equipment - 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.

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 17 (2023 - 17 ) .

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 249,597
Additions 2,868
At 30 April 2024 252,465
DEPRECIATION
At 1 May 2023 216,305
Charge for year 9,040
At 30 April 2024 225,345
NET BOOK VALUE
At 30 April 2024 27,120
At 30 April 2023 33,292

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.