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Registration number: 11118078

Bird Eyewear Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Bird Eyewear Ltd
(Registration number: 11118078)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bird Eyewear Ltd
(Registration number: 11118078)

Company Information

Directors

Mr E Bird

Mr P Bird

Mr L Bird

Mr M Cushen

Mr Alan Martin

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Bird Eyewear Ltd
(Registration number: 11118078)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

73,570

83,298

Tangible assets

5

10,659

3,430

 

84,229

86,728

Current assets

 

Stocks

6

99,000

43,129

Debtors

7

38,306

69,161

Cash at bank and in hand

 

410,824

26,853

 

548,130

139,143

Creditors: Amounts falling due within one year

8

(57,887)

(32,971)

Net current assets

 

490,243

106,172

Total assets less current liabilities

 

574,472

192,900

Creditors: Amounts falling due after more than one year

8

(4,667)

(8,667)

Net assets

 

569,805

184,233

Capital and reserves

 

Called up share capital

191

148

Share premium reserve

1,089,944

454,989

Profit and loss account

(520,330)

(270,904)

Total equity

 

569,805

184,233

 

Bird Eyewear Ltd
(Registration number: 11118078)

Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mr E Bird
Director

 

Bird Eyewear Ltd
(Registration number: 11118078)

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

1

General information

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

The company was formerly known as Bird Sunglasses Limited.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants have been recognised under the accrual model and are credited to income over the periods in which the related costs were incurred.

 

Bird Eyewear Ltd
(Registration number: 11118078)

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

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.

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

Furniture, fittings & equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Bird Eyewear Ltd
(Registration number: 11118078)

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Bird Eyewear Ltd
(Registration number: 11118078)

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

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).

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

87,276

97,276

At 30 April 2024

10,000

87,276

97,276

Amortisation

At 1 May 2023

5,250

8,728

13,978

Amortisation charge

1,000

8,728

9,728

At 30 April 2024

6,250

17,456

23,706

Carrying amount

At 30 April 2024

3,750

69,820

73,570

At 30 April 2023

4,750

78,548

83,298

 

Bird Eyewear Ltd
(Registration number: 11118078)

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

11,517

11,517

Additions

10,447

10,447

At 30 April 2024

21,964

21,964

Depreciation

At 1 May 2023

8,087

8,087

Charge for the year

3,218

3,218

At 30 April 2024

11,305

11,305

Carrying amount

At 30 April 2024

10,659

10,659

At 30 April 2023

3,430

3,430

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

99,000

43,129

7

Debtors

2024
£

2023
£

Trade debtors

25,579

65,054

Other debtors

7,352

2,407

Prepayments and accrued income

5,375

1,700

Total current trade and other debtors

38,306

69,161

 

Bird Eyewear Ltd
(Registration number: 11118078)

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

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,999

4,000

Trade creditors

 

19,337

13,489

Taxation and social security

 

4,223

10,353

Other creditors

 

26,710

2,979

Accrued expenses

 

3,618

2,150

 

57,887

32,971

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

4,667

8,667