Company Registration No. 07919792 (England and Wales)
EYES OF THE GUEST LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
EYES OF THE GUEST LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
564,250
655,750
Tangible assets
2
68,795
64,000
633,045
719,750
Current assets
Stocks
4,536
7,851
Debtors
23,499
26,616
Cash at bank and in hand
260,492
139,571
288,527
174,038
Creditors: amounts falling due within one year
(308,378)
(475,481)
Net current liabilities
(19,851)
(301,443)
Total assets less current liabilities
613,194
418,307
Provisions for liabilities
(13,759)
(12,800)
599,435
405,507
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
599,434
405,506
Shareholders' funds
599,435
405,507
EYES OF THE GUEST LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2016
31 January 2016
- 2 -
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 September 2016
Ms K Haskins
Director
Company Registration No. 07919792
EYES OF THE GUEST LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with and departure from accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life
of 10 years.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing Balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2015
915,000
107,967
1,022,967
Additions
-
27,727
27,727
At 31 January 2016
915,000
135,694
1,050,694
Depreciation
At 1 February 2015
259,250
43,967
303,217
Charge for the year
91,500
22,932
114,432
At 31 January 2016
350,750
66,899
417,649
Net book value
At 31 January 2016
564,250
68,795
633,045
At 31 January 2015
655,750
64,000
719,750
EYES OF THE GUEST LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1