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Registered number: 08670964
Through Welsh Eyes Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Potter a'i Gwmni
ACCA
PO Box 26
10 Y Sgawr
Dinas Powys
Vale of Glamorgan
CF64 4YR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08670964
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,242 15,836
Tangible Assets 5 - 558
14,242 16,394
CURRENT ASSETS
Stocks 6 29,333 30,982
Debtors 7 1,266 (14 )
Cash at bank and in hand 1,698 1,075
32,297 32,043
Creditors: Amounts Falling Due Within One Year 8 (45,997 ) (63,662 )
NET CURRENT ASSETS (LIABILITIES) (13,700 ) (31,619 )
TOTAL ASSETS LESS CURRENT LIABILITIES 542 (15,225 )
NET ASSETS/(LIABILITIES) 542 (15,225 )
CAPITAL AND RESERVES
Called up share capital 9 18,000 100
Profit and Loss Account (17,458 ) (15,325 )
SHAREHOLDERS' FUNDS 542 (15,225)
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Saltmarsh
Director
13/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Through Welsh Eyes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08670964 . The registered office is 352 Caerphilly Road, Heath, Cardiff, CF14 7HP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years
Motor Vehicles 5 years
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 31,069
As at 31 December 2024 31,069
...CONTINUED
Page 3
Page 4
Amortisation
As at 1 January 2024 15,233
Provided during the period 1,594
As at 31 December 2024 16,827
Net Book Value
As at 31 December 2024 14,242
As at 1 January 2024 15,836
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 644
Disposals (418 )
As at 31 December 2024 226
Depreciation
As at 1 January 2024 86
Provided during the period 140
As at 31 December 2024 226
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 558
6. Stocks
2024 2023
£ £
Stock 29,333 30,982
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,266 (14 )
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,422 6,220
Bank loans and overdrafts - 4
Other creditors 42,438 56,935
Taxation and social security 137 503
45,997 63,662
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 18,000 100
Page 5