IRIS Accounts Production v24.3.2.46 02465318 director 1.3.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024653182023-02-28024653182024-02-29024653182023-03-012024-02-29024653182022-02-28024653182022-03-012023-02-28024653182023-02-2802465318ns15:EnglandWales2023-03-012024-02-2902465318ns14:PoundSterling2023-03-012024-02-2902465318ns10:Director12023-03-012024-02-2902465318ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2902465318ns10:SmallEntities2023-03-012024-02-2902465318ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2902465318ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2902465318ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2902465318ns10:FullAccounts2023-03-012024-02-290246531812023-03-012024-02-2902465318ns10:CompanySecretary12023-03-012024-02-2902465318ns10:RegisteredOffice2023-03-012024-02-2902465318ns5:CurrentFinancialInstruments2024-02-2902465318ns5:CurrentFinancialInstruments2023-02-2802465318ns5:Non-currentFinancialInstruments2024-02-2902465318ns5:Non-currentFinancialInstruments2023-02-2802465318ns5:ShareCapital2024-02-2902465318ns5:ShareCapital2023-02-2802465318ns5:RetainedEarningsAccumulatedLosses2024-02-2902465318ns5:RetainedEarningsAccumulatedLosses2023-02-2802465318ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2902465318ns5:LeaseholdImprovements2023-03-012024-02-2902465318ns5:PlantMachinery2023-03-012024-02-2902465318ns5:FurnitureFittings2023-03-012024-02-2902465318ns5:NetGoodwill2023-02-2802465318ns5:NetGoodwill2024-02-2902465318ns5:NetGoodwill2023-02-2802465318ns5:LeaseholdImprovements2023-02-2802465318ns5:PlantMachinery2023-02-2802465318ns5:FurnitureFittings2023-02-2802465318ns5:LeaseholdImprovements2024-02-2902465318ns5:PlantMachinery2024-02-2902465318ns5:FurnitureFittings2024-02-2902465318ns5:LeaseholdImprovements2023-02-2802465318ns5:PlantMachinery2023-02-2802465318ns5:FurnitureFittings2023-02-2802465318ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2902465318ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2802465318ns5:WithinOneYear2024-02-2902465318ns5:WithinOneYear2023-02-2802465318ns5:BetweenOneFiveYears2024-02-2902465318ns5:BetweenOneFiveYears2023-02-2802465318ns5:MoreThanFiveYears2024-02-2902465318ns5:MoreThanFiveYears2023-02-2802465318ns5:AllPeriods2024-02-2902465318ns5:AllPeriods2023-02-28
REGISTERED NUMBER: 02465318 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

The Eye Site (Opticians) Limited

The Eye Site (Opticians) Limited (Registered number: 02465318)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Eye Site (Opticians) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr D S Goldberg





SECRETARY: Mrs R L Goldberg





REGISTERED OFFICE: 58 Bury Old Road
Cheetham Hill
Manchester
M8 5BN





REGISTERED NUMBER: 02465318 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

The Eye Site (Opticians) Limited (Registered number: 02465318)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 53,022 64,005
53,022 64,005

CURRENT ASSETS
Stocks 40,000 80,000
Debtors 6 82,587 37,493
Cash at bank and in hand 21,275 9,306
143,862 126,799
CREDITORS
Amounts falling due within one year 7 141,848 148,710
NET CURRENT ASSETS/(LIABILITIES) 2,014 (21,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,036

42,094

CREDITORS
Amounts falling due after more than one
year

8

12,750

21,750
NET ASSETS 42,286 20,344

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 42,186 20,244
SHAREHOLDERS' FUNDS 42,286 20,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Eye Site (Opticians) Limited (Registered number: 02465318)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





Mr D S Goldberg - Director


The Eye Site (Opticians) Limited (Registered number: 02465318)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Eye Site (Opticians) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

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.

The Eye Site (Opticians) Limited (Registered number: 02465318)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company's financial statements for the year ended 29 February 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 7,000
AMORTISATION
At 1 March 2023
and 29 February 2024 7,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023 50,765 112,801 73,936 237,502
Additions - 906 385 1,291
At 29 February 2024 50,765 113,707 74,321 238,793
DEPRECIATION
At 1 March 2023 34,215 70,502 68,780 173,497
Charge for year 5,076 6,411 787 12,274
At 29 February 2024 39,291 76,913 69,567 185,771
NET BOOK VALUE
At 29 February 2024 11,474 36,794 4,754 53,022
At 28 February 2023 16,550 42,299 5,156 64,005

The Eye Site (Opticians) Limited (Registered number: 02465318)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,587 37,493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,000 9,000
Trade creditors 64,570 41,990
Taxation and social security 8,523 14,698
Other creditors 59,755 83,022
141,848 148,710

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,750 21,750

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 45,600 51,000
Between one and five years 176,100 139,500
In more than five years 228,000 261,000
449,700 451,500

10. RELATED PARTY DISCLOSURES

Included within other creditors is the director's current account balance of £54,986 (2023:£53,933). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.