Acorah Software Products - Accounts Production 16.1.300 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 02856089 Mr Francis Warwick Mr Stephen Hudson Mr Francis Warwick iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02856089 2023-09-30 02856089 2024-09-30 02856089 2023-10-01 2024-09-30 02856089 frs-core:CurrentFinancialInstruments 2024-09-30 02856089 frs-core:ComputerEquipment 2024-09-30 02856089 frs-core:ComputerEquipment 2023-10-01 2024-09-30 02856089 frs-core:ComputerEquipment 2023-09-30 02856089 frs-core:FurnitureFittings 2024-09-30 02856089 frs-core:FurnitureFittings 2023-10-01 2024-09-30 02856089 frs-core:FurnitureFittings 2023-09-30 02856089 frs-core:ShareCapital 2024-09-30 02856089 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 02856089 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02856089 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 02856089 frs-bus:SmallEntities 2023-10-01 2024-09-30 02856089 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02856089 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02856089 frs-bus:Director1 2023-10-01 2024-09-30 02856089 frs-bus:Director2 2023-10-01 2024-09-30 02856089 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 02856089 frs-countries:EnglandWales 2023-10-01 2024-09-30 02856089 2022-09-30 02856089 2023-09-30 02856089 2022-10-01 2023-09-30 02856089 frs-core:CurrentFinancialInstruments 2023-09-30 02856089 frs-core:ShareCapital 2023-09-30 02856089 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 02856089
The Eye Company Limited
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02856089
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,595 5,974
4,595 5,974
CURRENT ASSETS
Stocks 5 325,137 332,689
Debtors 6 32,104 33,200
Cash at bank and in hand 234,830 170,075
592,071 535,964
Creditors: Amounts Falling Due Within One Year 7 (58,381 ) (50,064 )
NET CURRENT ASSETS (LIABILITIES) 533,690 485,900
TOTAL ASSETS LESS CURRENT LIABILITIES 538,285 491,874
NET ASSETS 538,285 491,874
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 538,185 491,774
SHAREHOLDERS' FUNDS 538,285 491,874
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Stephen Hudson
Director
26/02/2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Eye Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02856089 . The registered office is 21 Aylmer Parade, Aylmer Road, London, N2 0AT.
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. 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:
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when it is related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 33,831 19,977 53,808
Additions - 153 153
As at 30 September 2024 33,831 20,130 53,961
Depreciation
As at 1 October 2023 32,004 15,830 47,834
Provided during the period 457 1,075 1,532
As at 30 September 2024 32,461 16,905 49,366
Net Book Value
As at 30 September 2024 1,370 3,225 4,595
As at 1 October 2023 1,827 4,147 5,974
5. Stocks
2024 2023
£ £
Stock 325,137 332,689
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,374 13,264
Prepayments and accrued income 14,305 17,047
Other debtors 8,425 2,889
32,104 33,200
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,291 38,154
Corporation tax 22,367 1,316
VAT 8,823 8,694
Accruals and deferred income 1,900 1,900
58,381 50,064
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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