OBJECTIVE IMAGING LIMITED

OBJECTIVE IMAGING LIMITED - Company Information

2019-04-012020-03-312020-03-31false03961332OBJECTIVE IMAGING LIMITED2020-05-26iso4217:GBPxbrli:pure039613322019-04-01039613322020-03-31039613322019-04-012020-03-31039613322018-04-01039613322019-03-31039613322018-04-012019-03-3103961332bus:SmallEntities2019-04-012020-03-3103961332bus:AuditExempt-NoAccountantsReport2019-04-012020-03-3103961332bus:AbridgedAccounts2019-04-012020-03-3103961332bus:PrivateLimitedCompanyLtd2019-04-012020-03-3103961332core:WithinOneYear2020-03-3103961332core:AfterOneYear2020-03-3103961332core:WithinOneYear2019-03-3103961332core:AfterOneYear2019-03-3103961332core:ShareCapital2020-03-3103961332core:SharePremium2020-03-3103961332core:RevaluationReserve2020-03-3103961332core:OtherReservesSubtotal2020-03-3103961332core:RetainedEarningsAccumulatedLosses2020-03-3103961332core:ShareCapital2019-03-3103961332core:SharePremium2019-03-3103961332core:RevaluationReserve2019-03-3103961332core:OtherReservesSubtotal2019-03-3103961332core:RetainedEarningsAccumulatedLosses2019-03-3103961332core:LandBuildings2020-03-3103961332core:PlantMachinery2020-03-3103961332core:Vehicles2020-03-3103961332core:FurnitureFittings2020-03-3103961332core:OfficeEquipment2020-03-3103961332core:NetGoodwill2020-03-3103961332core:IntangibleAssetsOtherThanGoodwill2020-03-3103961332core:ListedExchangeTraded2020-03-3103961332core:UnlistedNon-exchangeTraded2020-03-3103961332core:LandBuildings2019-03-3103961332core:PlantMachinery2019-03-3103961332core:Vehicles2019-03-3103961332core:FurnitureFittings2019-03-3103961332core:OfficeEquipment2019-03-3103961332core:NetGoodwill2019-03-3103961332core:IntangibleAssetsOtherThanGoodwill2019-03-3103961332core:ListedExchangeTraded2019-03-3103961332core:UnlistedNon-exchangeTraded2019-03-3103961332core:LandBuildings2019-04-012020-03-3103961332core:PlantMachinery2019-04-012020-03-3103961332core:Vehicles2019-04-012020-03-3103961332core:FurnitureFittings2019-04-012020-03-3103961332core:OfficeEquipment2019-04-012020-03-3103961332core:NetGoodwill2019-04-012020-03-3103961332core:IntangibleAssetsOtherThanGoodwill2019-04-012020-03-3103961332core:ListedExchangeTraded2019-04-012020-03-3103961332core:UnlistedNon-exchangeTraded2019-04-012020-03-3103961332core:AfterFiveYears2020-03-3103961332core:Non-currentFinancialInstruments2020-03-3103961332core:Non-currentFinancialInstruments2019-03-3103961332dpl:CostSales2019-04-012020-03-3103961332dpl:DistributionCosts2019-04-012020-03-3103961332dpl:AdministrativeExpenses2019-04-012020-03-3103961332core:LandBuildings2019-04-012020-03-3103961332core:PlantMachinery2019-04-012020-03-3103961332core:Vehicles2019-04-012020-03-3103961332core:FurnitureFittings2019-04-012020-03-3103961332core:OfficeEquipment2019-04-012020-03-3103961332dpl:GroupUndertakings2019-04-012020-03-3103961332dpl:ParticipatingInterests2019-04-012020-03-3103961332dpl:GroupUndertakingscore:ListedExchangeTraded2019-04-012020-03-3103961332core:ListedExchangeTraded2019-04-012020-03-3103961332dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-04-012020-03-3103961332core:UnlistedNon-exchangeTraded2019-04-012020-03-3103961332dpl:CostSales2018-04-012019-03-3103961332dpl:DistributionCosts2018-04-012019-03-3103961332dpl:AdministrativeExpenses2018-04-012019-03-3103961332core:LandBuildings2018-04-012019-03-3103961332core:PlantMachinery2018-04-012019-03-3103961332core:Vehicles2018-04-012019-03-3103961332core:FurnitureFittings2018-04-012019-03-3103961332core:OfficeEquipment2018-04-012019-03-3103961332dpl:GroupUndertakings2018-04-012019-03-3103961332dpl:ParticipatingInterests2018-04-012019-03-3103961332dpl:GroupUndertakingscore:ListedExchangeTraded2018-04-012019-03-3103961332core:ListedExchangeTraded2018-04-012019-03-3103961332dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2018-04-012019-03-3103961332core:UnlistedNon-exchangeTraded2018-04-012019-03-3103961332core:NetGoodwill2020-03-3103961332core:IntangibleAssetsOtherThanGoodwill2020-03-3103961332core:LandBuildings2020-03-3103961332core:PlantMachinery2020-03-3103961332core:Vehicles2020-03-3103961332core:FurnitureFittings2020-03-3103961332core:OfficeEquipment2020-03-3103961332core:AfterOneYear2020-03-3103961332core:WithinOneYear2020-03-3103961332core:ListedExchangeTraded2020-03-3103961332core:UnlistedNon-exchangeTraded2020-03-3103961332core:ShareCapital2020-03-3103961332core:SharePremium2020-03-3103961332core:RevaluationReserve2020-03-3103961332core:OtherReservesSubtotal2020-03-3103961332core:RetainedEarningsAccumulatedLosses2020-03-3103961332core:NetGoodwill2019-03-3103961332core:IntangibleAssetsOtherThanGoodwill2019-03-3103961332core:LandBuildings2019-03-3103961332core:PlantMachinery2019-03-3103961332core:Vehicles2019-03-3103961332core:FurnitureFittings2019-03-3103961332core:OfficeEquipment2019-03-3103961332core:AfterOneYear2019-03-3103961332core:WithinOneYear2019-03-3103961332core:ListedExchangeTraded2019-03-3103961332core:UnlistedNon-exchangeTraded2019-03-3103961332core:ShareCapital2019-03-3103961332core:SharePremium2019-03-3103961332core:RevaluationReserve2019-03-3103961332core:OtherReservesSubtotal2019-03-3103961332core:RetainedEarningsAccumulatedLosses2019-03-3103961332core:AfterOneYear2019-04-012020-03-3103961332core:WithinOneYear2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:CostValuation2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2019-04-012020-03-3103961332core:Non-currentFinancialInstrumentscore:CostValuation2020-03-3103961332core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2020-03-3103961332core:Non-currentFinancialInstrumentscore:CostValuation2019-03-3103961332core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2019-03-3103961332core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2019-03-3103961332bus:Director12019-04-012020-03-31

Registered Number
03961332
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 March 2020

OBJECTIVE IMAGING LIMITED

Company Information


Registered Address	Unit 1 Quy Court
	Colliers Lane Stow Cum Quy
	Cambridge
	CB25 9AU

OBJECTIVE IMAGING LIMITED

Balance Sheet as at
31 March 2020

	Notes	2020 £	2019 £
Fixed Assets
Tangible assets	4		307,040
Current Assets
Stocks		342,231	383,305
Debtors	6	252,608	152,499
Cash at bank and on hand		86,387	35,201
Creditors amounts falling due within one year	8	(656,320)	(405,259)
Net current assets (liabilities)		24,906	165,746
Total assets less current liabilities		24,906	472,786
Creditors amounts falling due after one year	9	(43,705)	(309,476)
Net assets		(18,799)	163,310
Capital and reserves
Called up share capital		31,250	31,250
Share premium		73,750	73,750
Profit and loss account		(123,799)	58,310
Shareholders' funds		(18,799)	163,310

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The company is a private company limited by shares and was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts.

The financial statements were approved and authorised for issue by the Board of Directors on 26 May 2020, and are signed on its behalf by:

PARTON, Adrian, Dr
Director
Registered Company No. 03961332

OBJECTIVE IMAGING LIMITED

Notes to the financial statements
for the year ended 31 March 2020

1.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

2.	PRINCIPAL ACTIVITIES
	The company's principal activity during the year continued to be thew desin, manufacture and sale of electronics and software for microscopic automation

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Land and Buildings 2% Straight line Plant and Machinery 20% Straight line

	Inventories policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	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.

Deferred tax policy

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.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

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

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

3.	EMPLOYEE INFORMATION

		2020		2019
	Average number of employees during the year	8		8

4.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 April 19	390,985
	Disposals	(390,985)
	At 31 March 20	83,944
	Depreciation and impairment
	At 01 April 19	83,944
	Charge for year	1,808
	Other adjustments	(85,752)
	At 31 March 20	83,944
	Net book value
	At 31 March 19	307,040

5.	OFF BALANCE SHEET PENSION COMMITMENTS
	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.

6.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2020 £	2019 £
Trade debtors / trade receivables	126,038	50,425
Other debtors	115,310	79,250
Prepayments and accrued income	11,260	22,824
Total	252,608	152,499

7.	DEBTORS WITHIN ONE YEAR
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS WITHIN ONE YEAR

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2020 £	2019 £
Trade debtors / trade receivables	126,038	50,425
Other debtors	115,310	79,250
Prepayments and accrued income	11,260	22,824
Total	252,608	152,499

8.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2020 £	2019 £
Trade creditors / trade payables	229,933	162,408
Bank borrowings and overdrafts	199,099	128,241
Taxation and social security	9,444	6,593
Other creditors	155,220	50,455
Accrued liabilities and deferred income	62,624	57,562
Total	656,320	405,259

9.	CREDITORS AFTER ONE YEAR

		2020 £		2019 £
	Bank borrowings and overdrafts (Non-current)	43,705		309,476
	Total	43,705		309,476