ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 March 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

SURREY AND LONDON EYE SURGERY LIMITED - Company Information

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Registered number: 10078433

SURREY AND LONDON EYE SURGERY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

SURREY AND LONDON EYE SURGERY LIMITED

REGISTERED NUMBER: 10078433

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	737,943		780,056
Bank and cash balances		1,888,842		1,643,951
		2,626,785		2,424,007
Creditors: amounts falling due within one year	5	(102,168)		(175,808)
Net current assets			2,524,617		2,248,199
Total assets less current liabilities			2,524,617		2,248,199

Net assets			2,524,617		2,248,199

Capital and reserves
Called up share capital	100	100
Profit and loss account	2,524,517	2,248,099
	2,524,617	2,248,199

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SURREY AND LONDON EYE SURGERY LIMITED

REGISTERED NUMBER: 10078433

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 December 2021.

Mr S M Shah

Director

The notes on pages 3 to 6 form part of these financial statements.

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SURREY AND LONDON EYE SURGERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Surrey and London Eye Surgery Limited Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered is 24 Old Bond Street, London, W1S 4AP. The trading address of the company is 119 Harley Street, London, W1G 6AU. This company is not part of a group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

During the company has been affected by restrictions imposed by the UK Government in response to the COVID-19 pandemic. The result of this is that the company temporarily had to suspend its operations. This has resulted in a significant loss of income for the company. The company has additional finance available to it in the form of support from its shareholders.

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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SURREY AND LONDON EYE SURGERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

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SURREY AND LONDON EYE SURGERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Debtors

					2021	2020
					£	£


Trade debtors	26,136	44,551
Other debtors	711,807	728,666
Prepayments and accrued income	-	6,839
	737,943	780,056

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	65,717	147,759
Other creditors	28,133	10,955
Accruals and deferred income	8,318	17,094
	102,168	175,808

6.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 (2020 - 100) Ordinary shares of £1.00 each	100	100

Not later than 1 year	7,450	-
Later than 1 year and not later than 5 years	14,950	-
	22,400	-

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SURREY AND LONDON EYE SURGERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Related party transactions

During the year the company operated loans with the directors of the company. The amount owed by the company to the directors at the year end was £17,092 (2020 - £5,738). The loans are repayable on demand. Interest of 7% is charged on the amount due to the director.
During the year the company operated a loan with a company under common control. The amount owed by related party to the company at the year end was £693,500 (2020 - £693,500). This loan is interest free and repayable on demand.

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