3 2 More Eyes Limited 11484564 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of specialist design activities and support to performing arts. Digita Accounts Production Advanced 6.30.9574.0 true true 11484564 2023-08-01 2024-07-31 11484564 2024-07-31 11484564 bus:OrdinaryShareClass1 2024-07-31 11484564 core:CurrentFinancialInstruments 2024-07-31 11484564 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 11484564 core:FurnitureFittingsToolsEquipment 2024-07-31 11484564 bus:SmallEntities 2023-08-01 2024-07-31 11484564 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11484564 bus:FilletedAccounts 2023-08-01 2024-07-31 11484564 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 11484564 bus:RegisteredOffice 2023-08-01 2024-07-31 11484564 bus:Director1 2023-08-01 2024-07-31 11484564 bus:Director2 2023-08-01 2024-07-31 11484564 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 11484564 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11484564 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 11484564 core:OfficeEquipment 2023-08-01 2024-07-31 11484564 countries:EnglandWales 2023-08-01 2024-07-31 11484564 2023-07-31 11484564 core:FurnitureFittingsToolsEquipment 2023-07-31 11484564 2022-08-01 2023-07-31 11484564 2023-07-31 11484564 bus:OrdinaryShareClass1 2023-07-31 11484564 core:CurrentFinancialInstruments 2023-07-31 11484564 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11484564 core:FurnitureFittingsToolsEquipment 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11484564

More Eyes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

More Eyes Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

More Eyes Limited

Company Information

Directors

Mr Peter Thornton

Mr Matthew Sharp

Registered office

5 West Street
Hunton
Maidstone
Kent
ME15 0RS

 

More Eyes Limited

(Registration number: 11484564)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,458

29,087

Current assets

 

Debtors

5

70,664

64,323

Cash at bank and in hand

 

105,834

139,423

 

176,498

203,746

Creditors: Amounts falling due within one year

6

(81,630)

(106,740)

Net current assets

 

94,868

97,006

Net assets

 

124,326

126,093

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

124,226

125,993

Shareholders' funds

 

124,326

126,093

For the financial 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.

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 Profit and Loss Account.

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................
Mr Peter Thornton
Director

 

More Eyes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
5 West Street
Hunton
Maidstone
Kent
ME15 0RS
England

These financial statements were authorised for issue by the Board on 25 April 2025.

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.

 

More Eyes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Going concern

Judgements

Judgements The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results. The principal areas where judgement was exercised are as follows:

i) Recoverability of trade debtors: the directors annually assess whether a bad debt provision is required for any bad or doubtful debtor balances.

ii) Tangible fixed assets: the directors annually assess both the residual value of these assets and the expected useful life of such assets based on experience.

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 sales/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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

 

More Eyes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

More Eyes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

60,910

60,910

Additions

25,390

25,390

At 31 July 2024

86,300

86,300

Depreciation

At 1 August 2023

31,823

31,823

Charge for the year

25,019

25,019

At 31 July 2024

56,842

56,842

Carrying amount

At 31 July 2024

29,458

29,458

At 31 July 2023

29,087

29,087

5

Debtors

Current

2024
£

2023
£

Trade debtors

70,664

64,323

 

70,664

64,323

 

More Eyes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

35,192

50,439

Accruals and deferred income

1,000

1,000

Other creditors

45,438

55,301

81,630

106,740

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100