NEW EYES ASSET MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Company Registration Number: 05954204
NEW EYES ASSET MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 8
NEW EYES ASSET MANAGEMENT LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
DIRECTOR
Dr S A D Bamford
SECRETARY
Windward Exploration & Properties Limited
REGISTERED OFFICE
Windward House
Reading Road
Cholsey
Wallingford
OX10 9HG
COMPANY REGISTRATION NUMBER
05954204 England and Wales
NEW EYES ASSET MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
Notes 2024 2023
£ £
FIXED ASSETS
Investments 5 - 500,000
CURRENT ASSETS
Debtors 7 1,815 1,878
Investments 6 440,000 -
Cash at bank and in hand 97,005 188,852
538,820 190,730
CREDITORS: Amounts falling due within one year 8 83,877 181,421
NET CURRENT ASSETS 454,943 9,309
TOTAL ASSETS LESS CURRENT LIABILITIES 454,943 509,309
Provisions for liabilities and charges - 105
NET ASSETS 454,943 509,204
CAPITAL AND RESERVES
Called up share capital 1 1
Distributable profit and loss account 420,445 414,811
Non distributable profit and loss account 34,497 94,392
SHAREHOLDER'S FUNDS 454,943 509,204
NEW EYES ASSET MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
Dr S A D Bamford
Director
Date approved by the board: 28 August 2025
NEW EYES ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 GENERAL INFORMATION
New Eyes Asset Management Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Windward House
Reading Road
Cholsey
Wallingford
OX10 9HG
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on a basis other than going concern as the director intends to close the company within 12 months from the date that the accounts were approved. As the going concern basis is not appropriate, adjustments have been made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise as a result of the cessation and to reclassify fixed assets as current assets.
Revenue recognition
Turnover represents the value of rent receivable during the year.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.
Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.
NEW EYES ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
NEW EYES ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.
Current and deferred tax assets and liabilities are not discounted.
Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The director has made key assumptions in determination of the fair value of its investment properties in respect of the state of the property market in the location where the properties are situated and in respect of the range of reasonable fair value estimates of these assets.
NEW EYES ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4 EMPLOYEES
The average number of persons employed by the company (including the director) during the year was:
2024 2023
Average number of employees 1 1
5 FIXED ASSET INVESTMENTS
Investment properties
£
Cost
At 1 January 2024 500,000
Revaluation (60,000)
Reclassification to Current Asset Investments (440,000)
At 31 December 2024 -
Net book value
At 1 January 2024 500,000
At 31 December 2024 -
In the opinion of the director, all investment properties have been stated at fair value.
6 CURRENT ASSET INVESTMENT Investment properties
£
Cost
At 1 January 2024 -
Reclassification from Fixed Asset Investments 440,000
At 31 December 2024 440,000
Net book value
At 1 January 2024 -
At 31 December 2024 440,000
In the opinion of the director, all investment properties have been stated at fair value.
NEW EYES ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7 DEBTORS
2024 2023
£ £
Prepayments and accrued income 1,265 1,578
Other debtors 550 300
1,815 1,878
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Taxation and social security 1,322 2,386
Accruals and deferred income 2,735 2,540
Other creditors 79,820 176,495
83,877 181,421
9 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Windward Exploration & Properties Limited Parent company
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