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

REGISTERED NUMBER: 08419339 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 February 2020

for

Outlook Eyecare Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr A Burke

Mrs A O'Donovan

REGISTERED OFFICE:

5 Balmoral Court

King George Close

Cheltenham

Gloucestershire

GL53 7RF

REGISTERED NUMBER:

08419339 (England and Wales)

ACCOUNTANTS:

Francis & Co

Second Floor

123 Promenade

Cheltenham

Gloucestershire

GL50 1NW

FIXED ASSETS

Intangible assets

4

42,903

-

Tangible assets

5

14,651

94

57,554

94

CURRENT ASSETS

Debtors

6

2,761

-

Cash at bank

15,626

26,231

18,387

26,231

CREDITORS

Amounts falling due within one year

7

39,524

5,665

NET CURRENT (LIABILITIES)/ASSETS

(21,137

)

20,566

TOTAL ASSETS LESS CURRENT LIABILITIES

36,417

20,660

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

36,317

20,560

SHAREHOLDERS' FUNDS

36,417

20,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 28 January 2021 and were signed on its behalf by:

Dr A Burke - Director

1.	STATUTORY INFORMATION

Outlook 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 2019, is being amortised evenly over its estimated useful life of ten 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 cost and 20% on cost

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.

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 4 (2019 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

47,670

At 29 February 2020

47,670

AMORTISATION

Charge for year

4,767

At 29 February 2020

4,767

NET BOOK VALUE

At 29 February 2020

42,903

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2019

1,259

Additions

18,255

At 29 February 2020

19,514

DEPRECIATION

At 1 March 2019

1,165

Charge for year

3,698

At 29 February 2020

4,863

NET BOOK VALUE

At 29 February 2020

14,651

At 28 February 2019

94

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade debtors

1,763

-

Other debtors

998

-

2,761

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade creditors

15,745

-

Taxation and social security

7,017

4,494

Other creditors

16,762

1,171

39,524

5,665

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.