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Company Registration No. 04836885 (England and Wales)
Oliver Goldsmith Sunglasses Limited Unaudited accounts for the year ended 31 July 2024
Oliver Goldsmith Sunglasses Limited Unaudited accounts Contents
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Oliver Goldsmith Sunglasses Limited Company Information for the year ended 31 July 2024
Directors
Ms C M Goldsmith Mr H W Orgreen
Company Number
04836885 (England and Wales)
Registered Office
5 Brayford Square London England E1 0SG
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Oliver Goldsmith Sunglasses Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
22,798 
30,221 
Current assets
Inventories
582,218 
673,097 
Debtors
87,152 
76,491 
Cash at bank and in hand
18,932 
55,695 
688,302 
805,283 
Creditors: amounts falling due within one year
(174,766)
(292,550)
Net current assets
513,536 
512,733 
Total assets less current liabilities
536,334 
542,954 
Creditors: amounts falling due after more than one year
(347,204)
(355,040)
Net assets
189,130 
187,914 
Capital and reserves
Called up share capital
93 
93 
Share premium
45,000 
45,000 
Profit and loss account
144,037 
142,821 
Shareholders' funds
189,130 
187,914 
For the year ending 31 July 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by
Ms C M Goldsmith Director Company Registration No. 04836885
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Oliver Goldsmith Sunglasses Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Oliver Goldsmith Sunglasses Limited is a private company, limited by shares, registered in England and Wales, registration number 04836885. The registered office is 5 Brayford Square, London, England, E1 0SG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible asset includes capitalised cost of e-commerce website amortized over the useful life of 5 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.3% on cost
Motor vehicles
20% reducing balance
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Oliver Goldsmith Sunglasses Limited Notes to the Accounts for the year ended 31 July 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs and other post-retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 August 2023
6,000 
At 31 July 2024
6,000 
Amortisation
At 1 August 2023
6,000 
At 31 July 2024
6,000 
Net book value
At 31 July 2024
- 
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Oliver Goldsmith Sunglasses Limited Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2023
22,396 
32,800 
25,254 
23,627 
104,077 
At 31 July 2024
22,396 
32,800 
25,254 
23,627 
104,077 
Depreciation
At 1 August 2023
16,813 
8,966 
24,617 
23,460 
73,856 
Charge for the year
1,358 
5,771 
213 
81 
7,423 
At 31 July 2024
18,171 
14,737 
24,830 
23,541 
81,279 
Net book value
At 31 July 2024
4,225 
18,063 
424 
86 
22,798 
At 31 July 2023
5,583 
23,834 
637 
167 
30,221 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
4,427 
7 
Trade debtors
55,861 
49,555 
Accrued income and prepayments
4,142 
9,791 
Other debtors
22,722 
17,138 
87,152 
76,491 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
5,682 
5,682 
Trade creditors
62,744 
225,918 
Taxes and social security
16,433 
11,990 
Other creditors
55,477 
27,902 
Accruals
34,430 
21,058 
174,766 
292,550 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
9,392 
15,074 
Amounts owed to group undertakings and other participating interests
250,000 
250,000 
Other creditors
87,812 
89,966 
347,204 
355,040 
Amounts owed to group undertakings included loans of £230,000 (2023: £230,000) from Oliver Goldsmith Holdings Limited and £20,000 (2023: £20,000) from Oliver Goldsmith Design Co Ltd. Oliver Goldsmith Holdings Limited and Oliver Goldsmith Design Co Ltd are dormant companies, therefore, the loans are recognised at transaction costs.
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Oliver Goldsmith Sunglasses Limited Notes to the Accounts for the year ended 31 July 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
93 Ordinary shares of £1 each
93 
93 
10
Transactions with related parties
Included in other debtors is an amount of £17,138 (2023: £17,138) owed by OG Retail Ltd, a company in which Ms C M Goldsmith and Mr H W Orgreen are directors. Included in other creditors falling due after more than one year is an amount of £51,640 (2023: £51,640) due to Ms C M Goldsmith. Included in other creditors falling due within one year is an amount of £25,658 (2023: £25,658) due to Orgreen Optics A/S, a company controlled by Mr H W Orgreen. Included in other creditors falling due after more than one year is an amount of £36,172 (2023: £38,326) due to Orgreen Optics A/S.
11
Controlling party
The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.
12
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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