Optoinfo Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC510099 (Scotland)

Optoinfo Limited

Financial Statements For The Year Ended 31 July 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

Ms S Frame-O'Hare

REGISTERED OFFICE:

20 Mason Haugh Road

Burghead

Elgin

Moray

IV30 5ZE

REGISTERED NUMBER:

SC510099 (Scotland)

ACCOUNTANTS:

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

FIXED ASSETS

Tangible assets

4

615

820

CURRENT ASSETS

Debtors

5

4,572

4,275

Cash at bank

270

213

4,842

4,488

CREDITORS

Amounts falling due within one year

6

5,179

5,032

NET CURRENT LIABILITIES

(337

)

(544

)

TOTAL ASSETS LESS CURRENT LIABILITIES

278

276

PROVISIONS FOR LIABILITIES

7

117

156

NET ASSETS

161

120

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

61

20

SHAREHOLDERS' FUNDS

161

120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 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 22 July 2020 and were signed by:

Ms S Frame-O'Hare - Director

1.	STATUTORY INFORMATION

Optoinfo Limited is a private company, limited by shares , registered in Scotland. 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 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

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

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.

Hire purchase and leasing commitments

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

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 August 2018

and 31 July 2019

1,458

DEPRECIATION

At 1 August 2018

638

Charge for year

205

At 31 July 2019

843

NET BOOK VALUE

At 31 July 2019

615

At 31 July 2018

820

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

3,900

3,460

Other debtors

672

815

4,572

4,275

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Taxation and social security

1,444

810

Other creditors

3,735

4,222

5,179

5,032

7.	PROVISIONS FOR LIABILITIES

31.7.19

31.7.18

£

£

Deferred tax

117

156

Deferred

tax

£

Balance at 1 August 2018

156

Provided during year

(39

)

Balance at 31 July 2019

117

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 August 2018

20

Profit for the year

5,741

Dividends

(5,700

)

At 31 July 2019

61

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,700 (2018 - £3,300) were paid to the directors .

S Frame-O'Hare and J R Frame-O'Hare

are directors in the company

A interest free loan has been given to the company from the directors. No repayment terms have been agreed.

31.7.19

31.7.18

£

£

Amount due to related party at the balance sheet date

2,409

1,492

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the

Report of the Director 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 Optoinfo Limited for the year ended 31 July 2019 which comprise the Income Statement,

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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Optoinfo Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Optoinfo Limited and state those matters that we have agreed to state to the director of Optoinfo Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Optoinfo Limited and its director for our work or for this report.

It is your duty to ensure that Optoinfo 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 Optoinfo Limited. You consider that Optoinfo 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 Optoinfo 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.

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

22 July 2020