Registered number
12135011
EYE OPTICS LIMITED
Unaudited Filleted Accounts
31 August 2024
EYE OPTICS LIMITED
Registered number: 12135011
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 2,000
Tangible assets 4 - 1,400
- 3,400
Current assets
Stocks - 1,000
Debtors 5 12,746 12,746
Cash at bank and in hand 121 221
12,867 13,967
Creditors: amounts falling due within one year 6 (2,285) (4,249)
Net current assets 10,582 9,718
Total assets less current liabilities 10,582 13,118
Creditors: amounts falling due after more than one year 7 (5,718) (7,005)
Net assets 4,864 6,113
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,764 6,013
Shareholder's funds 4,864 6,113
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Madeeha Abbas
Director
Approved by the board on 21 April 2025
EYE OPTICS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 10,000
At 31 August 2024 10,000
Amortisation
At 1 September 2023 8,000
Provided during the year 2,000
At 31 August 2024 10,000
Net book value
At 31 August 2024 -
At 31 August 2023 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 7,000
At 31 August 2024 7,000
Depreciation
At 1 September 2023 5,600
Charge for the year 1,400
At 31 August 2024 7,000
Net book value
At 31 August 2024 -
At 31 August 2023 1,400
5 Debtors 2024 2023
£ £
Trade debtors 12,746 12,746
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,284 4,249
Other creditors 1 -
2,285 4,249
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,718 7,005
8 Other information
EYE OPTICS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
179 Blackburn Road
Bolton
BL1 8HE
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