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REGISTERED NUMBER: 07290029 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Eyeonics Ltd

Eyeonics Ltd (Registered number: 07290029)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Eyeonics Ltd (Registered number: 07290029)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,525 138

CURRENT ASSETS
Debtors 5 251,649 192,737
Cash at bank 452,919 484,504
704,568 677,241
CREDITORS
Amounts falling due within one year 6 13,981 37,559
NET CURRENT ASSETS 690,587 639,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,112

639,820

PROVISIONS FOR LIABILITIES 10,351 26
NET ASSETS 735,761 639,794

CAPITAL AND RESERVES
Called up share capital 7 60 60
Retained earnings 735,701 639,734
SHAREHOLDERS' FUNDS 735,761 639,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st December 2024 and were signed by:





Dr G S J T Smith - Director


Eyeonics Ltd (Registered number: 07290029)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. COMPANY INFORMATION

Eyeonics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07290029

Registered office: The Lexicon
Mount Street
Manchester
M2 5NT

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Eyeonics Ltd (Registered number: 07290029)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st April 2023 135,621 - 135,621
Additions - 74,034 74,034
At 31st March 2024 135,621 74,034 209,655
DEPRECIATION
At 1st April 2023 135,483 - 135,483
Charge for year 138 18,509 18,647
At 31st March 2024 135,621 18,509 154,130
NET BOOK VALUE
At 31st March 2024 - 55,525 55,525
At 31st March 2023 138 - 138

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 54,312 -
S455 tax paid 98,868 98,868
Other debtors 36,899 32,899
Directors' current accounts 61,570 60,970
251,649 192,737

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 13,251 36,828
Accrued expenses 730 731
13,981 37,559

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
60 Ordinary A £1 60 60

Eyeonics Ltd (Registered number: 07290029)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
Dr G S J T Smith
Balance outstanding at start of year 60,970 293,481
Amounts advanced 1,655 1,642
Amounts repaid (1,056 ) (234,153 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,569 60,970

The loan is repayable on demand and interest of £6,458 (2021 - £6,376) at the HMRC current rate of 2.25% was charged during the year.

9. RELATED PARTY DISCLOSURES

Include within other debtors at the balance sheet date, is a balance of £32,899 (2022: £32,899) which is due from a company that the director has a participating interest in.

The loan above is interest free and there are no fixed terms for repayment.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr G Smith by virtue of holding 100% of the voting share capital.