Eyedrive Systems Limited - Accounts to registrar (filleted) - small 17.3
Eyedrive Systems Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2017 |
| for |
| EYEDRIVE SYSTEMS LIMITED |
| EYEDRIVE SYSTEMS LIMITED (REGISTERED NUMBER: 06876748) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2017 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Accountants' Report | 7 |
| EYEDRIVE SYSTEMS LIMITED |
| Company Information |
| for the Year Ended 31st March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 43 Coniscliffe Road |
| Darlington |
| Co. Durham |
| DL3 7EH |
| EYEDRIVE SYSTEMS LIMITED (REGISTERED NUMBER: 06876748) |
| Abridged Balance Sheet |
| 31st March 2017 |
| 31/3/17 | 31/3/16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| EYEDRIVE SYSTEMS LIMITED (REGISTERED NUMBER: 06876748) |
| Abridged Balance Sheet - continued |
| 31st March 2017 |
| 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 by: |
| EYEDRIVE SYSTEMS LIMITED (REGISTERED NUMBER: 06876748) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2017 |
| 1. | STATUTORY INFORMATION |
| Eyedrive Systems Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| EYEDRIVE SYSTEMS LIMITED (REGISTERED NUMBER: 06876748) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| 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. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st April 2016 |
| Additions |
| At 31st March 2017 |
| DEPRECIATION |
| At 1st April 2016 |
| Charge for year |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| EYEDRIVE SYSTEMS LIMITED (REGISTERED NUMBER: 06876748) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Totals |
| £ |
| COST |
| At 1st April 2016 | 42,260 |
| Additions | 19,500 |
| At 31st March 2017 | 61,760 |
| DEPRECIATION |
| At 1st April 2016 | 8,827 |
| Charge for year | 15,266 |
| At 31st March 2017 | 24,093 |
| NET BOOK VALUE |
| At 31st March 2017 | 37,667 |
| At 31st March 2016 | 33,433 |
| 5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Amounts owed by group undertakings |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 30,645 | 31,026 |
| Bank loans are secured against the assets of the company by a fixed and floating charge. |
| Hire purchase borrowings are secured against the assets to which they relate. |
| 7. | CONTINGENT LIABILITIES |
| An unlimited multilateral guarantee to HSBC Bank plc dated 29th July 2010 exists with the parent company and |
| all its subsidiary companies. At the balance sheet date, the amount owed to HSBC Bank plc by the parent |
| company and all its subsidiary companies was £1,273,453 (2016: £730,772). |
| 8. | ULTIMATE CONTROLLING PARTY |
| The parent company for which consolidated financial statements are drawn up of which Eyedrive Systems |
| Limited is a member is that of The Vehicle Group Limited, 1 Target Chartermark Way, Colburn Business Park, |
| Catterick Garrison, North Yorkshire, DL9 4QJ. |
| Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Eyedrive Systems Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary |
| statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Eyedrive Systems Limited for the year ended 31st March 2017 which comprise the Abridged |
| Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from |
| information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Eyedrive Systems Limited, as a body, in accordance with the terms of our engagement letter dated 3rd July 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Eyedrive Systems Limited and state those matters that we have agreed to state to the Board of Directors of Eyedrive Systems Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Eyedrive Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eyedrive Systems Limited. You consider that Eyedrive Systems Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Eyedrive Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 43 Coniscliffe Road |
| Darlington |
| Co. Durham |
| DL3 7EH |