25 22 Eagle Eye Technology Limited 04459434 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of software engineering services and consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 04459434 2023-07-01 2024-06-30 04459434 2024-06-30 04459434 2 2024-06-30 04459434 core:CurrentFinancialInstruments 2024-06-30 04459434 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 04459434 1 2024-06-30 04459434 bus:SmallEntities 2023-07-01 2024-06-30 04459434 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04459434 bus:FilletedAccounts 2023-07-01 2024-06-30 04459434 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04459434 bus:RegisteredOffice 2023-07-01 2024-06-30 04459434 bus:CompanySecretaryDirector2 2023-07-01 2024-06-30 04459434 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04459434 countries:EnglandWales 2023-07-01 2024-06-30 04459434 1 2023-07-01 2024-06-30 04459434 1 2023-06-30 04459434 2022-07-01 2023-06-30 04459434 2023-06-30 04459434 2 2023-06-30 04459434 core:CurrentFinancialInstruments 2023-06-30 04459434 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04459434 1 2023-06-30 04459434 1 2022-07-01 2023-06-30 04459434 1 2022-06-30 xbrli:pure iso4217:GBP

Registration number: 04459434

Eagle Eye Technology Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Eagle Eye Technology Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Eagle Eye Technology Limited

(Registration number: 04459434)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

33,000

33,000

Current assets

 

Stocks

5

50

3,406

Debtors

6

263,368

941,521

Cash at bank and in hand

 

1,794,206

1,173,350

 

2,057,624

2,118,277

Creditors: Amounts falling due within one year

7

(340,305)

(503,672)

Net current assets

 

1,717,319

1,614,605

Net assets

 

1,750,319

1,647,605

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

1,750,317

1,647,603

Shareholders' funds

 

1,750,319

1,647,605

For the financial year ending 30 June 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 7 March 2025 and signed on its behalf by:
 


Mr E J Pippin
Company secretary and director

 

Eagle Eye Technology Limited

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

1

General information

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

The address of its registered office is:
Austen House Units A-J
Station View
Guildford
Surrey
GU1 4AR

Principal activity

The principal activity of the company is that of software engineering services and consultancy.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Eagle Eye Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Eagle Eye Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 22).

4

Investments

2024
£

2023
£

Other loans

33,000

33,000

 

Eagle Eye Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Investments (continued)

Other loans

£

Cost or valuation

At 1 July 2023

33,000

5

Stocks

2024
£

2023
£

Stocks

50

3,406

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

231,094

620,645

Other debtors

 

973

13,363

Prepayments

 

31,301

40,907

Income tax asset

-

266,606

 

263,368

941,521

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,280

51,202

Taxation and social security

309,881

186,864

Accruals and deferred income

12,183

3,130

Other creditors

16,961

262,476

340,305

503,672

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Eagle Eye Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

9

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Director

(39,847)

(114,035)

138,873

(15,009)

         
       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Director

(35,309)

(102,865)

98,327

(39,847)

 


Directors’ loans are repayable on demand and subject to interest on overdrawn balances at the official rate.