AC Eyecare Limited - Accounts to registrar (filleted) - small 18.2

AC Eyecare Limited - Accounts to registrar (filleted) - small 18.2

AC EYECARE LIMITED - Company Information

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REGISTERED NUMBER: 12095406 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2021

for

AC Eyecare Limited
AC Eyecare Limited (Registered number: 12095406)






Contents of the Financial Statements
for the Year Ended 31st July 2021




Page

Balance Sheet 1

Notes to the Financial Statements 2


AC Eyecare Limited (Registered number: 12095406)

Balance Sheet
31st July 2021

31.7.21 31.7.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 890 -

CURRENT ASSETS
Debtors 5 - 482
Cash at bank 4,165 2,161
4,165 2,643
CREDITORS
Amounts falling due within one year 6 3,732 2,548
NET CURRENT ASSETS 433 95
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,323
95

PROVISIONS FOR LIABILITIES 169 -
NET ASSETS 1,154 95

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,054 (5 )
SHAREHOLDERS' FUNDS 1,154 95

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 20th September 2021 and were signed by:




Dr A Choudhary - Director


The notes form part of these financial statements

Page 1
AC Eyecare Limited (Registered number: 12095406)

Notes to the Financial Statements
for the Year Ended 31st July 2021

1. COMPANY INFORMATION

AC Eyecare 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: 12095406

Registered office: First Floor
49 Peter Street
Manchester
M2 3NG

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There have been no critical judgements, estimates or assumptions made in the preparation of these 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.

Revenue from the provision of professional services is recognised on delivery of the service.

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

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful life.

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.

Page 2 continued...
AC Eyecare Limited (Registered number: 12095406)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2021

2. ACCOUNTING POLICIES - continued

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.

Going concern
At the time of approving the financial statements, the director has confirmed that they will continue to support the company and ensure it has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,017
At 31st July 2021 1,017
DEPRECIATION
Charge for year 127
At 31st July 2021 127
NET BOOK VALUE
At 31st July 2021 890

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.21 31.7.20
£    £   
Directors' current accounts - 482

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.21 31.7.20
£    £   
Tax 2,072 2,344
Directors' current accounts 1,456 -
Accrued expenses 204 204
3,732 2,548

Page 3 continued...
AC Eyecare Limited (Registered number: 12095406)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2021

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.7.21 31.7.20
value: £    £   
100 Ordinary 1 100 100

The Ordinary shares confer on the holders the right to vote upon any resolution proposed
at any general meeting of the company.

The Ordinary shares rank pari passu in respect of dividend and capital distribution rights.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31st July 2021 and the period ended 31st July 2020:

31.7.21 31.7.20
£    £   
Dr A Choudhary
Balance outstanding at start of year 482 -
Amounts advanced 9,064 11,100
Amounts repaid (11,002 ) (10,618 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,456 ) 482

The loan is repayable and no interest was charged during the period.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr Choudhary by virtue of holding 100% voting share capital.

Page 4