PAX EYEWEAR LIMITED


Director	PAXMAN, Emma


Registered Address	1st Floor Buckley House
	31a The Hundred
	Romsey
	SO51 8GD


Registered Number	08283510 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		43,481		45,628
			43,481		45,628
Current assets
Stocks	4	24,658		26,946
Debtors	5	41,801		8,916
Cash at bank and on hand		184,157		127,206
		250,616		163,068
Creditors amounts falling due within one year	6	(55,129)		(59,705)
Net current assets (liabilities)			195,487		103,363
Total assets less current liabilities			238,968		148,991
Creditors amounts falling due after one year	7		(1,950)		(7,150)
Net assets			237,018		141,841
Capital and reserves
Called up share capital			2		2
Profit and loss account			237,016		141,839
Shareholders' funds			237,018		141,841

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 29 September 2025, and are signed on its behalf by:

PAXMAN, Emma
Director
Registered Company No. 08283510

PAX EYEWEAR LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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).

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	10
Plant and machinery	20	-
Office Equipment	-	3

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	5		5

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	43,202	27,659	2,429	73,290
Additions	-	3,267	2,857	6,124
At 31 December 24	43,202	30,926	5,286	79,414
Depreciation and impairment
At 01 January 24	12,577	13,243	1,842	27,662
Charge for year	4,320	3,224	727	8,271
At 31 December 24	16,897	16,467	2,569	35,933
Net book value
At 31 December 24	26,305	14,459	2,717	43,481
At 31 December 23	30,625	14,416	587	45,628

4.	Stocks

	2024	2023
	£	£
Raw materials and consumables	24,658	26,946
Total	24,658	26,946

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	2,984	2,862
Other debtors	38,817	6,054
Total	41,801	8,916


	Included in other debtors is an amount of £32,575 which was a loan taken by the director. This was fully repaid on 01/05/2025.

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	8,274	9,049
Taxation and social security	34,134	31,487
Other creditors	9,444	12,557
Accrued liabilities and deferred income	3,277	6,612
Total	55,129	59,705

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	1,950	7,150
Total	1,950	7,150

8.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
PAXMAN, Emma	0	32,575	0	32,575
Loan balance on 31/12/2024
	0	32,575	0	32,575


	Included in other debtors is an amount of £33,575 which was a loan taken by the director. This was fully repaid on 01/05/2025.