Excel Eyes Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07575536 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

Excel Eyes Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs H Shah

REGISTERED OFFICE:

82A High Street

Watford

Hertfordshire

WD17 2BP

REGISTERED NUMBER:

07575536 (England and Wales)

ACCOUNTANTS:

Emmerson Accountancy Ltd

Atlantic Business Centre

Atlantic Street

Altrincham

Cheshire

WA14 5NQ

FIXED ASSETS

Intangible assets

2

85,000

90,000

Tangible assets

3

32,519

36,329

117,519

126,329

CURRENT ASSETS

Stocks

30,500

26,500

Debtors

4

22,577

24,855

Prepayments and accrued income

33,063

28,458

Cash at bank and in hand

36,569

70,042

122,709

149,855

CREDITORS

Amounts falling due within one year

135,773

181,857

NET CURRENT LIABILITIES

(13,064

)

(32,002

)

TOTAL ASSETS LESS CURRENT LIABILITIES

104,455

94,327

CREDITORS

Amounts falling due after more than one year

78,325

87,150

NET ASSETS

26,130

7,177

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

26,129

7,176

SHAREHOLDERS' FUNDS

26,130

7,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 December 2014 and were signed by:

Mrs H Shah - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

100,000

AMORTISATION

At 1 April 2013

10,000

Amortisation for year

5,000

At 31 March 2014

15,000

NET BOOK VALUE

At 31 March 2014

85,000

At 31 March 2013

90,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

51,136

Additions

2,470

At 31 March 2014

53,606

DEPRECIATION

At 1 April 2013

14,807

Charge for year

6,280

At 31 March 2014

21,087

NET BOOK VALUE

At 31 March 2014

32,519

At 31 March 2013

36,329

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 14,250 (31.3.13 - £ 14,250 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

1

Ordinary

£1

1

1