REGISTERED NUMBER: 06792249 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Fashion Eyewear Limited

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

591,674

454,146

Investments

6

100

-

591,774

454,146

CURRENT ASSETS

Inventories

1,852,182

1,327,466

Debtors

7

2,793,882

2,137,598

Cash at bank

33,871

50,344

4,679,935

3,515,408

CREDITORS

Amounts falling due within one year

8

3,392,315

3,508,526

NET CURRENT ASSETS

1,287,620

6,882

TOTAL ASSETS LESS CURRENT LIABILITIES

1,879,394

461,028

CREDITORS

Amounts falling due after more than one year

9

4,757,866

3,188,600

NET LIABILITIES

(2,878,472

)

(2,727,572

)

CAPITAL AND RESERVES

Called up share capital

140

140

Share premium

1,226,960

1,226,960

Retained earnings

(4,105,572

)

(3,954,672

)

SHAREHOLDERS' FUNDS

(2,878,472

)

(2,727,572

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 30 September 2025 and were signed on its behalf by:

Mr Gurjit Singh Dhillon - Director

1.	STATUTORY INFORMATION

Fashion Eyewear Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06792249

Registered office:

150 Chiswick High Road

London

W4 1PR

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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services

provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair

value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is

the present value of the future receipts. The difference between the fair value of the consideration and the

nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the

goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of

completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of

net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less

accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful

life and is amortised on a systematic basis over its expected life, which is 5 years

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit

from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at

least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable

amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is

allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets

of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost

comprises direct materials and, where applicable, direct labour costs and those overheads that have been

incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement

cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks

over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or

loss. Reversals of impairment losses are also recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The Directors have formed a judgement that, at the time of approving the financial statements, there is a

reasonable expectation that the Company has adequate resources to continue in operational existence for

the foreseeable future, and on that basis the Directors continue to adopt the going concern basis in preparing the financial statements. In reaching this conclusion the Directors have considered the loss for the reporting period, the net current liability position of the Company, the continued engagement and support of its shareholders and their trading forecasts with appropriate sensitivities. The Directors remain confident that the Company is well placed to benefit from increasingly positive long-term trends in global e-Commerce growth and the increasing propensity of consumers to look online for services as well as products.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible

assets to determine whether there is any indication that those assets have suffered an impairment loss. If any

such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,

the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying

amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An

impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued

amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased

to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

100,000

AMORTISATION

At 1 January 2024

and 31 December 2024

100,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

69,796

1,158,716

1,228,512

Additions

103,948

214,526

318,474

At 31 December 2024

173,744

1,373,242

1,546,986

DEPRECIATION

At 1 January 2024

51,659

722,707

774,366

Charge for year

18,313

162,633

180,946

At 31 December 2024

69,972

885,340

955,312

NET BOOK VALUE

At 31 December 2024

103,772

487,902

591,674

At 31 December 2023

18,137

436,009

454,146

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

Additions

100

At 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

38,495

27,849

Other debtors

2,755,387

2,109,749

2,793,882

2,137,598

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

305,412

305,413

Trade creditors

2,430,717

2,229,596

Taxation and social security

34,969

109,537

Other creditors

621,217

863,980

3,392,315

3,508,526

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

110,110

415,555

Other creditors

4,647,756

2,773,045

4,757,866

3,188,600