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REGISTERED NUMBER: NI606495 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

R N EYEWEAR LTD

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


R N EYEWEAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: R Nicholl
Ms M Nicholl





REGISTERED OFFICE: 21 Main Street
Clogher
BT76 0AA





REGISTERED NUMBER: NI606495 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Belfast
BT1 3BG

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 36,931 55,397
Tangible assets 5 55,316 71,653
92,247 127,050

CURRENT ASSETS
Stocks 41,873 60,123
Debtors 6 321,967 243,045
Cash at bank 837 1,230
364,677 304,398
CREDITORS
Amounts falling due within one year 7 272,534 261,686
NET CURRENT ASSETS 92,143 42,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,390

169,762

CREDITORS
Amounts falling due after more than one
year

8

(33,993

)

(62,769

)

PROVISIONS FOR LIABILITIES (8,710 ) (17,913 )
NET ASSETS 141,687 89,080

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 141,667 89,060
141,687 89,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





R Nicholl - Director


R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

R N Eyewear Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The directors do not consider there to be any estimates or judgements included in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised over 15 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Cash
Cash comprises cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial in which cases they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and the redemption value being recognised in the statement of income statement over the period of the borrowings, together with any interest and fees payable using the effective interst method.


R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 277,000
AMORTISATION
At 1 November 2023 221,603
Charge for year 18,466
At 31 October 2024 240,069
NET BOOK VALUE
At 31 October 2024 36,931
At 31 October 2023 55,397

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 217,082
Additions 2,398
At 31 October 2024 219,480
DEPRECIATION
At 1 November 2023 145,429
Charge for year 18,735
At 31 October 2024 164,164
NET BOOK VALUE
At 31 October 2024 55,316
At 31 October 2023 71,653

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 62,506 76,985
Amounts owed by related parties 256,705 163,273
Other debtors 2,756 2,787
321,967 243,045

Amounts owed by related parties are unsecured, interst free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 24,535 31,706
Hire purchase contracts 11,600 11,903
Trade creditors 131,181 93,741
Amounts owed to related parties 19,290 17,498
Taxation and social security 30,015 22,341
Other creditors 55,913 84,497
272,534 261,686

Hire purchase contracts are secured over the assets to which they relate.

R N EYEWEAR LTD (REGISTERED NUMBER: NI606495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 11,707 28,884
Hire purchase contracts 22,286 33,885
33,993 62,769

9. CHARGES

There is a floating charge over all property of the company.