true
Modern Eyewear Ltd
SC030651
2015-09-30
197015
177729
375376
356090
10000
10000
168361
168361
375376
356090
17593
25713
392969
381803
52081
27387
342257
365186
394338
392573
254177
261362
102764
101473
37397
29738
340888
354416
340888
354416
Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Plant & Machinery
Reducing balance
0.2000
Motor Vehicles
Reducing balance
0.2500
Property Improv'ts
Straight line
0.3333
617259
610896
9363
-3000
276371
256480
22891
-3000
617259
610896
9363
-3000
276371
256480
-3000
22891
Ordinary
100000
1
100000
100000
Ordinary
1
10000
10000
10000
2016-01-18
Mr J A Marsh
Mrs C Marsh
Director
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Modern Eyewear Ltd
2014-10-01
2015-09-30
Modern Eyewear Ltd
2013-10-01
2014-09-30
Modern Eyewear Ltd
2013-09-30
Modern Eyewear Ltd
2014-09-30
Modern Eyewear Ltd
2014-09-30
Modern Eyewear Ltd
2015-09-30
2016-01-25