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

REGISTERED NUMBER: 10725303 (England and Wales)

Financial Statements

for the Year Ended 30 November 2020

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

161,842

175,328

Tangible assets

5

122,406

148,090

284,248

323,418

CURRENT ASSETS

Stocks

51,650

46,972

Debtors

6

12,571

28,656

Cash at bank and in hand

131,143

19,794

195,364

95,422

CREDITORS

Amounts falling due within one year

7

89,240

112,661

NET CURRENT ASSETS/(LIABILITIES)

106,124

(17,239

)

TOTAL ASSETS LESS CURRENT LIABILITIES

390,372

306,179

CREDITORS

Amounts falling due after more than one year

8

(345,994

)

(322,189

)

PROVISIONS FOR LIABILITIES

(23,257

)

(28,136

)

NET ASSETS/(LIABILITIES)

21,121

(44,146

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

21,111

(44,156

)

21,121

(44,146

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 27 August 2021 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, 25% on cost and 25% on reducing balance

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 6 (2019 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2019

and 30 November 2020

202,302

AMORTISATION

At 1 December 2019

26,974

Charge for year

13,486

At 30 November 2020

40,460

NET BOOK VALUE

At 30 November 2020

161,842

At 30 November 2019

175,328

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

187,899

Additions

1,593

At 30 November 2020

189,492

DEPRECIATION

At 1 December 2019

39,809

Charge for year

27,277

At 30 November 2020

67,086

NET BOOK VALUE

At 30 November 2020

122,406

At 30 November 2019

148,090

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade debtors

8,997

3,878

Other debtors

3,574

24,778

12,571

28,656

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans and overdrafts

60,622

68,522

Trade creditors

11,594

27,039

Taxation and social security

337

1,832

Other creditors

16,687

15,268

89,240

112,661

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans

345,994

322,189

30.11.20

30.11.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

345,994

322,189