IRIS Accounts Production
v17.3.0.1062
SC367920
Board of Directors
1.4.16
31.3.17
31.3.17
false
true
false
false
true
false
Ordinary 'A','B','C','D'
1.00000
iso4217:GBP
iso4217:USD
iso4217:EUR
xbrli:shares
xbrli:pure
SC367920
2016-03-31
SC367920
2017-03-31
SC367920
2016-04-01
2017-03-31
SC367920
2015-03-31
SC367920
2015-04-01
2016-03-31
SC367920
2016-03-31
SC367920
ns15:Scotland
2016-04-01
2017-03-31
SC367920
ns14:PoundSterling
2016-04-01
2017-03-31
SC367920
ns10:Director1
2016-04-01
2017-03-31
SC367920
ns10:PrivateLimitedCompanyLtd
2016-04-01
2017-03-31
SC367920
ns10:SmallEntities
2016-04-01
2017-03-31
SC367920
ns10:AuditExempt-NoAccountantsReport
2016-04-01
2017-03-31
SC367920
ns10:SmallCompaniesRegimeForDirectorsReport
2016-04-01
2017-03-31
SC367920
ns10:SmallCompaniesRegimeForAccounts
2016-04-01
2017-03-31
SC367920
ns10:FullAccounts
2016-04-01
2017-03-31
SC367920
ns10:OrdinaryShareClass1
2016-04-01
2017-03-31
SC367920
ns10:Director2
2016-04-01
2017-03-31
SC367920
ns10:Director3
2016-04-01
2017-03-31
SC367920
ns10:Director4
2016-04-01
2017-03-31
SC367920
ns10:CompanySecretary1
2016-04-01
2017-03-31
SC367920
ns10:RegisteredOffice
2016-04-01
2017-03-31
SC367920
ns5:CurrentFinancialInstruments
2017-03-31
SC367920
ns5:CurrentFinancialInstruments
2016-03-31
SC367920
ns5:ShareCapital
2017-03-31
SC367920
ns5:ShareCapital
2016-03-31
SC367920
ns5:RetainedEarningsAccumulatedLosses
2017-03-31
SC367920
ns5:RetainedEarningsAccumulatedLosses
2016-03-31
SC367920
ns5:PlantMachinery
2016-04-01
2017-03-31
SC367920
ns5:FurnitureFittings
2016-04-01
2017-03-31
SC367920
ns5:PlantMachinery
2016-03-31
SC367920
ns5:FurnitureFittings
2016-03-31
SC367920
ns5:PlantMachinery
2017-03-31
SC367920
ns5:FurnitureFittings
2017-03-31
SC367920
ns5:PlantMachinery
2016-03-31
SC367920
ns5:FurnitureFittings
2016-03-31
SC367920
ns10:OrdinaryShareClass1
2017-03-31
SC367920
ns5:RetainedEarningsAccumulatedLosses
2016-03-31
SC367920
ns5:RetainedEarningsAccumulatedLosses
2016-04-01
2017-03-31
REGISTERED NUMBER:
SC367920
(Scotland)
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED 31 MARCH 2017
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Notes to the Financial Statements
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4
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SECRETARY:
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Diane Elizabeth Liddle |
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REGISTERED OFFICE:
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4 Corsehill Place
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REGISTERED NUMBER:
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SC367920 (Scotland)
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ACCOUNTANTS:
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Stewart Gilmour & Co.,
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BANKERS:
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Bank of Scotland
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Tangible assets
|
3
|
592
|
|
740
|
|
|
Cash at bank and in hand
|
270
|
|
1,177
|
|
|
Amounts falling due within one year
|
6
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35,284
|
|
64,019
|
|
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NET CURRENT ASSETS
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21,226
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11,458
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TOTAL ASSETS LESS CURRENT
LIABILITIES
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21,818
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12,198
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|
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PROVISIONS FOR LIABILITIES
|
112
|
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148
|
|
|
Called up share capital
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7
|
100
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100
|
|
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Retained earnings
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8
|
21,606
|
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11,950
|
|
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SHAREHOLDERS' FUNDS
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21,706
|
|
12,050
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|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for:
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(a)
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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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(b)
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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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on
29 December 2017 and were signed on its behalf
by:
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O L I Eyewear Limited is a
private company, limited by shares , registered in Scotland. The company's
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registered number and registered office address can be found on the Company Information page.
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Basis of preparing the financial statements
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These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
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value added tax and other sales taxes.
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery
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-
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20% on reducing balance |
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Fixtures and fittings
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-
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20% on reducing balance |
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
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Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
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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
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substantively enacted by the balance sheet date.
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
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those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
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have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
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will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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machinery
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fittings
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Totals
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and 31 March 2017
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460
|
|
2,053
|
|
2,513
|
|
|
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At 1 April 2016
|
348
|
|
1,425
|
|
1,773
|
|
|
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Charge for year
|
22
|
|
126
|
|
148
|
|
|
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At 31 March 2017
|
370
|
|
1,551
|
|
1,921
|
|
|
|
At 31 March 2017
|
90
|
|
502
|
|
592
|
|
|
|
At 31 March 2016
|
112
|
|
628
|
|
740
|
|
|
5.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade debtors
|
14,858
|
|
15,424
|
|
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6.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
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Current corporation tax
|
2,442
|
|
898
|
|
|
|
Divine and Gibson Limited loan
|
|
Opticare Opticians Limited loan account
|
13,000 |
|
19,000 |
|
|
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Directors' current accounts
|
3,372 |
|
3,372 |
|
|
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Accruals and deferred income
|
2,117
|
|
985
|
|
|
|
Value added tax payable
|
2,353 |
|
3,264 |
|
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7.
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CALLED UP SHARE CAPITAL
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|
Allotted, issued and fully paid:
|
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Number:
|
Class:
|
Nominal
|
2017
|
2016
|
|
|
100
|
Ordinary 'A','B','C','D'
|
£1
|
100 |
|
100 |
|
|
|
Profit for the year
|
9,656
|
|
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9.
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ULTIMATE CONTROLLING PARTIES
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The company is under the immediate and ultimate control of directors, Murray Liddle and Laura McAlpine who
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each hold 26% of the issued share capital.
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