Shark Optical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06681873 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

SHARK OPTICAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S S Sehmi

REGISTERED OFFICE:

14 Greenfield Drive

Bromley

Kent

BR1 3BH

REGISTERED NUMBER:

06681873 (England and Wales)

ACCOUNTANTS:

Bayar Hughes & Co

Chartered Certified Accountants

4 Green Lane Business Park

238 Green lane

New Eltham

London

SE9 3TL

FIXED ASSETS

Tangible assets

4

1,446

1,929

CURRENT ASSETS

Debtors

5

4,034

6,211

Cash at bank

4,807

8,127

8,841

14,338

CREDITORS

Amounts falling due within one year

6

7,660

11,286

NET CURRENT ASSETS

1,181

3,052

TOTAL ASSETS LESS CURRENT LIABILITIES

2,627

4,981

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

2,527

4,881

SHAREHOLDERS' FUNDS

2,627

4,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 3 June 2020 and were signed by:

Mr S S Sehmi - Director

1.	STATUTORY INFORMATION

Shark Optical Limited 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax

and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery

-

25% on reducing balance

Computer Equipment

-

25% on reducing balance

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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant &

Computer

Machinery

Equipment

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

2,338

4,706

7,044

DEPRECIATION

At 1 April 2019

1,844

3,271

5,115

Charge for year

124

359

483

At 31 March 2020

1,968

3,630

5,598

NET BOOK VALUE

At 31 March 2020

370

1,076

1,446

At 31 March 2019

494

1,435

1,929

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade Debtors

3,500

5,750

Other Debtors & Prepayments

534

461

4,034

6,211

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Corporation Tax

5,584

7,367

Director's Loan Account

211

2,179

Other Creditors & Accruals

1,865

1,740

7,660

11,286

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2019

4,881

Profit for the year

23,146

Dividends

(25,500

)

At 31 March 2020

2,527