Moderneyes Limited 28/02/2018 iXBRL
Moderneyes Limited 28/02/2018 iXBRL
Company registration number:
02355828
Filleted financial statements
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Notes to the financial statements
Directors and other information
Directors | ||
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Secretary |
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Company number |
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Registered office |
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Business address |
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Auditor |
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8-10 Gatley Road | ||
Cheadle | ||
Cheshire | ||
SK8 1PY | ||
Directors responsibilities statement
Period ended 28 February 2018
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial period. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of financial position
28 February 2018
28/02/18 | 30/04/17 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - | - | ||||||
Tangible assets | 6 |
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Current assets | |||||||||
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital | 10 |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 November 2018
, and are signed on behalf of the board by:
Director
Company registration number:
02355828
Notes to the financial statements
Period ended 28 February 2018
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Lookright House, 17 The Birtles, Civic Centre, Wythenshawe, M22 5SA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Operating leases
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - |
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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 estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property | - |
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Plant and machinery | - |
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Fittings fixtures and equipment | - | 4-7 years straight line | |
Optical Equipment | - |
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Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
22
(2017:
23
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 May 2017 and 28 February 2018 |
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Amortisation | |||
At 1 May 2017 and 28 February 2018 |
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Carrying amount | |||
At 28 February 2018 | - | - | |
_______ | _______ | ||
At 30 April 2017 | - | - | |
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6.
Tangible assets
Short leasehold property | Plant and machinery | Fixtures, fittings and equipment | Optical equipment | Total | ||
£ | £ | £ | £ | £ | ||
Cost | ||||||
At 1 May 2017 and 28 February 2018 |
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Depreciation | ||||||
At 1 May 2017 |
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Charge for the year |
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At 28 February 2018 |
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Carrying amount | ||||||
At 28 February 2018 |
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At 30 April 2017 |
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_______ | _______ | _______ | _______ | _______ | ||
7.
Debtors
28/02/18 | 30/04/17 | |||
£ | £ | |||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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8.
Creditors: amounts falling due within one year
28/02/18 | 30/04/17 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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9.
Creditors: amounts falling due after more than one year
28/02/18 | 30/04/17 | |||
£ | £ | |||
Other creditors |
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_______ | _______ | |||
10.
Called up share capital
Issued, called up and fully paid
28/02/18 | 30/04/17 | ||||||||
No | £ | No | £ | ||||||
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100 | 100 | 100 | 100 | |||||
_______ | _______ | _______ | _______ | ||||||
11.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Later than 5 years |
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_______ | _______ | |
12.
Summary audit opinion
The senior statutory auditor was
Eric Langer BSc FCA
for and on behalf of
Langer & Co