Freedom Eyecare Ltd

FREEDOM EYECARE LIMITED - Company Information

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Registered number: 05542491

Freedom Eyecare Ltd

Abbreviated accounts

For The Year Ended 31 August 2016

Bailey Oster

Chartered Accountants

Mellor House

65 - 81 St Petersgate

Stockport

SK1 1DS

Freedom Eyecare Ltd

Company No. 05542491

Abbreviated Balance Sheet 31 August 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		1,932		3,868
Tangible Assets	3		4,861		5,047

			6,793		8,915
CURRENT ASSETS
Stocks		9,000		8,520
Debtors		8,901		15,198
Cash at bank and in hand		13,518		23,926

		31,419		47,644
Creditors: Amounts Falling Due Within One Year		(37,002 )		(54,790 )

NET CURRENT ASSETS (LIABILITIES)			(5,583 )		(7,146 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,210		1,769

NET ASSETS			1,210		1,769

CAPITAL AND RESERVES
Called up share capital	4		1,000		1,000
Profit and Loss Account			210		769

SHAREHOLDERS' FUNDS			1,210		1,769

Freedom Eyecare Ltd

Company No. 05542491

Abbreviated Balance Sheet (continued) 31 August 2016

For the year ending 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Roy Bhatia

31 May 2017

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Freedom Eyecare Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 August 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Other Intangible

Lease premium - has been amortised over its estimated economic life of ten years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	15% reducing balance
Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance

1.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Intangible Assets


	Total
Cost	£
As at 1 September 2015	19,356

As at 31 August 2016	19,356

Amortisation
As at 1 September 2015	15,488
Provided during the period	1,936

As at 31 August 2016	17,424

Net Book Value
As at 31 August 2016	1,932

As at 1 September 2015	3,868

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Freedom Eyecare Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 August 2016

3. Tangible Assets


	Total
Cost	£
As at 1 September 2015	25,108
Additions	1,128

As at 31 August 2016	26,236

Depreciation
As at 1 September 2015	20,061
Provided during the period	1,314

As at 31 August 2016	21,375

Net Book Value
As at 31 August 2016	4,861

As at 1 September 2015	5,047

4. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1000	1,000	1,000

5. Transactions With and Loans to Directors

At the balance sheet date, the director owed the company £4,946 (2015 - £8,020). This was also the maximum balance outstanding during the year.

6. Ultimate Controlling Party

The company's ultimate controlling party is Roy Bhatia by virtue of his ownership of 100% of the issued share capital in the company.

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