SNK Eyecare Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10725303 (England and Wales)

Financial Statements

for the Year Ended 30 November 2018

for

SNK EYECARE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Khorugdharry

K Patel

SECRETARY:

REGISTERED OFFICE:

Flat 2, The Keys

12 Locks Lane

Mitcham

Surrey

CR4 2JX

REGISTERED NUMBER:

10725303 (England and Wales)

ACCOUNTANTS:

Churchmill Partnership Limited

Brook House

Mint Street

Godalming

Surrey

GU7 1HE

FIXED ASSETS

Intangible assets

4

188,815

-

Tangible assets

5

38,798

-

227,613

-

CURRENT ASSETS

Stocks

30,000

-

Cash at bank and in hand

23,002

10

53,002

10

CREDITORS

Amounts falling due within one year

6

61,988

-

NET CURRENT (LIABILITIES)/ASSETS

(8,986

)

10

TOTAL ASSETS LESS CURRENT LIABILITIES

218,627

10

CREDITORS

Amounts falling due after more than one year

7

(217,531

)

-

PROVISIONS FOR LIABILITIES

(7,371

)

-

NET (LIABILITIES)/ASSETS

(6,275

)

10

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(6,285

)

-

(6,275

)

10

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

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 28 August 2019 and were signed on its behalf by:

S Khorugdharry - Director

1.	STATUTORY INFORMATION

SNK Eyecare Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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 year end and that are expected to apply to

the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

202,302

At 30 November 2018

202,302

AMORTISATION

Charge for year

13,487

At 30 November 2018

13,487

NET BOOK VALUE

At 30 November 2018

188,815

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

51,730

At 30 November 2018

51,730

DEPRECIATION

Charge for year

12,932

At 30 November 2018

12,932

NET BOOK VALUE

At 30 November 2018

38,798

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade creditors

5,565

-

Taxation and social security

8,906

-

Other creditors

47,517

-

61,988

-

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.18

30.11.17

£

£

Bank loans

217,531

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

217,531

-