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Unaudited Financial Statements |
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for the Period 1 March 2016 to 31 December 2016 |
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The Eyewear Company (London) Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 March 2016 to 31 December 2016 |
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for |
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The Eyewear Company (London) Ltd |
The Eyewear Company (London) Ltd (Registered number: 06096274) |
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Contents of the Financial Statements |
for the Period 1 March 2016 to 31 December 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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The Eyewear Company (London) Ltd |
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Company Information |
for the Period 1 March 2016 to 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
701 Stonehouse Park |
Sperry Way |
Stonehouse |
Gloucestershire |
GL10 3UT |
The Eyewear Company (London) Ltd (Registered number: 06096274) |
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Balance Sheet |
31 December 2016 |
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2016 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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 Eyewear Company (London) Ltd (Registered number: 06096274) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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The Eyewear Company (London) Ltd (Registered number: 06096274) |
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Notes to the Financial Statements |
for the Period 1 March 2016 to 31 December 2016 |
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1. | STATUTORY INFORMATION |
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The Eyewear Company (London) Ltd is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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The Eyewear Company (London) Ltd (Registered number: 06096274) |
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Notes to the Financial Statements - continued |
for the Period 1 March 2016 to 31 December 2016 |
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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. |
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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 period end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 March 2016 |
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Additions |
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Disposals |
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At 31 December 2016 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for period |
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Eliminated on disposal |
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( |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 29 February 2016 |
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The Eyewear Company (London) Ltd (Registered number: 06096274) |
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Notes to the Financial Statements - continued |
for the Period 1 March 2016 to 31 December 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 92,695 | 45,316 |
Other creditors |
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Directors' current accounts | 31,000 | 33,408 |
Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2016 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loan due after more |
than 5 years by instalments |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loan due after more |
than 5 years by instalments | 14,487 | 19,375 |
14,487 | 19,375 |
The Eyewear Company (London) Ltd (Registered number: 06096274) |
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Notes to the Financial Statements - continued |
for the Period 1 March 2016 to 31 December 2016 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2016 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2016 |
£ | £ |
Bank loans |
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The bank loan is secured by way of a charge over the assets of the company. |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Each director has given Lloyds TSB Bank a personal guarantee of £20,000 against the overdraft |
facility, a guarantee of £80,000 against bank loan 1 (commencing in 2010), a guarantee of £75,000 |
against bank loan 2 (commencing in 2013) and a further guarantee of £10,000 to Positive Finance in |
respect of the debt factoring account. |