EYEWORKS INDUSTRIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2026
Company Registration Number: 06143741
EYEWORKS INDUSTRIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 11
EYEWORKS INDUSTRIES LIMITED
COMPANY INFORMATION
FOR THE PERIOD ENDED 31 MARCH 2026
DIRECTORS
Mr D J Denholm
Ms F Cuthbert
Mr J Chen
resigned 18 March 2025
Mr C Marshall
resigned 18 March 2025
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
54 North End
Alnwick
Northumberland
NE66 3JP
COMPANY REGISTRATION NUMBER
06143741 England and Wales
EYEWORKS INDUSTRIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
As restated
Notes 2026 30 September 2024
£ £
FIXED ASSETS
Intangible assets 6 10,000 395,000
Tangible assets 7 144,457 230,227
154,457 625,227
CURRENT ASSETS
Debtors 8 707,777 989,986
Cash at bank and in hand 225,141 66,181
932,918 1,056,167
CREDITORS: Amounts falling due within one year 9 870,763 1,101,914
NET CURRENT ASSETS / (LIABILITIES) 62,155 (45,747)
TOTAL ASSETS LESS CURRENT LIABILITIES 216,612 579,480
CREDITORS: Amounts falling due after more than one year 10 171,378 265,675
Provisions for liabilities and charges 36,114 52,961
NET ASSETS 9,120 260,844
CAPITAL AND RESERVES
Called up share capital 21 21
Distributable profit and loss account 9,099 260,823
SHAREHOLDERS' FUNDS 9,120 260,844
EYEWORKS INDUSTRIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
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 period ended 31 March 2026 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 of directors
Mr D J Denholm Ms F Cuthbert
Director Director
Date approved by the board: 22 June 2026
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
1 GENERAL INFORMATION
Eyeworks Industries Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
54 North End
Alnwick
Northumberland
NE66 3JP
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.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised when the title of products supplied to customers has passed to the customer and is determined by invoice value. Turnover is stated net of trade discounts where applicable, and value added tax.
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.
Intangible fixed assets
Intangible fixed assets, other than goodwill, are stated at cost less accumulated amortisation and any accumulated impairment losses. It is amortised on a straight-line basis over its useful economic life of 9 years from 1 October 2024.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Short leasehold property 16.7% straight line basis per annum
Fixtures, fittings and equipment 20% straight line basis per annum
Motor Vehicles 25% reducing balance basis per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
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.
Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise
be measured reliably, the investment is subsequently measured at fair value through the profit and loss
account.
Basic financial assets and financial liabilities are initially recognised at transaction price and measured at
amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.
They are subsequently carried at their amortised cost using the effective interest rate method, less any
provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less
impairment.
Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective
impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is
recognised in the profit and loss account immediately.
Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
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.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease
term.
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
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.
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.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the period are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The directors have made key assumptions in determining the impairment of trademarks.
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
4 RESTATEMENT OF COMPARATIVES
The prior year has been adjusted to include a deferred tax provision and to reclassify amounts held in a Bibby factoring account from a debtor to cash at bank. The restatement on the balance sheet is as follows:
Debtors Cash at bank and in hand Provisions for liabilities and charges Capital and reserves
£ £ £ £
As previously stated at 30 September 2024 1,036,193 19,974 - 313,805
Reallocation of invoice discounting balance (46,207) 46,207 - -
Deferred tax provision - - 52,961 (52,961)
As restated at 30 September 2024 989,986 66,181 52,961 260,844
5 EMPLOYEES
The average number of persons employed by the company (including directors) during the period / year was:
31/03/26 30/09/24
Average number of employees 3 4
6 INTANGIBLE FIXED ASSETS
Trademarks
£
Cost
At 1 October 2024 945,000
Revaluation (341,116)
At 31 March 2026 603,884
Accumulated amortisation and impairments
At 1 October 2024 550,000
Charge for period 43,884
At 31 March 2026 593,884
Net book value
At 1 October 2024 395,000
At 31 March 2026 10,000
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
7 TANGIBLE ASSETS
Short leasehold property Fixtures, fittings and equipment Motor Vehicles Total
£ £ £ £
Cost
At 1 October 2024 18,084 33,848 378,651 430,583
Additions 2,623 - 68,853 71,476
Disposals (20,707) (33,848) (132,557) (187,112)
At 31 March 2026 - - 314,947 314,947
Accumulated depreciation and impairments
At 1 October 2024 16,172 17,423 166,761 200,356
Charge for period 2,020 5,280 70,265 77,565
Disposals (18,192) (22,703) (66,536) (107,431)
At 31 March 2026 - - 170,490 170,490
Net book value
At 1 October 2024 1,912 16,425 211,890 230,227
At 31 March 2026 - - 144,457 144,457
8 DEBTORS
2026 2024
£ £
Trade debtors 666,934 975,581
Prepayments and accrued income 3,632 7,818
Other debtors 37,211 6,587
707,777 989,986
9 CREDITORS: Amounts falling due within one year
2026 2024
£ £
Bank loans and overdrafts - 50,591
Trade creditors 662,413 796,317
Taxation and social security 141,868 193,661
Hire purchase contracts and finance leases 45,220 51,054
Accruals and deferred income 19,186 8,518
Other creditors 2,076 1,773
870,763 1,101,914
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
10 CREDITORS: Amounts falling due after more than one year
2026 2024
£ £
Bank loans and overdrafts - 25,000
Hire purchase contracts and finance leases 171,378 240,675
171,378 265,675
11 SECURED DEBTS
The company had a bank loan with Coutts & Company which held a fixed and floating charge over the assets of the company. This has now been fully repaid.
The company has an invoice discounting facility with Bibby Financial Services Limited which holds a fixed and floating charge over the assets of the company.
The hire purchase contracts and finance leases are secured on the assets concerned.
12 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the period:
Balance at 1 October 2024 Amounts advanced Amounts repaid Balance at 31 March 2026
£ £ £ £
Mr D J Denholm and Ms F Cuthbert - 65,154 65,154 -
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
EYEWORKS INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
13 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Eyeworks Industries Group Limited Ultimate parent company
Eyeworks Group Limited Other group member
During the period / year, the following transactions with related parties took place:
Mr J Denholm and Mrs F Cuthbert
Directors 31/03/26 30/09/24
£ £
Advances from directors The directors have made advances to the company which are repayable on demand. No interest has been charged on these advances. At the period / year end, the company owed the directors the following amounts: 2,076 670
Asia Inflatables Limited
A company under common control 31/03/26 30/09/24
£ £
Loan to company under common control. 2,201 -
This loan is interest free and repayable on demand.
Airspace Limited
A company under common control 31/03/26 30/09/24
£ £
Loan to company under common control. 426 -
This loan is interest free and repayable on demand.
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