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

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

SHARK OPTICAL LIMITED - Company Information

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REGISTERED NUMBER: 06681873 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

SHARK OPTICAL LIMITED
SHARK OPTICAL LIMITED (REGISTERED NUMBER: 06681873)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SHARK OPTICAL LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021







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
1
SHARK OPTICAL LIMITED (REGISTERED NUMBER: 06681873)


STATEMENT OF FINANCIAL POSITION
31 MARCH 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,728 1,446

CURRENT ASSETS
Debtors 5 5,352 4,034
Cash at bank 1,951 4,807
7,303 8,841
CREDITORS
Amounts falling due within one year 6 5,884 7,660
NET CURRENT ASSETS 1,419 1,181
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,147
2,627

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 3,047 2,527
SHAREHOLDERS' FUNDS 3,147 2,627

The notes form part of these financial statements

2
SHARK OPTICAL LIMITED (REGISTERED NUMBER: 06681873)


STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 30 June 2021 and were signed by:





Mr S S Sehmi - Director


The notes form part of these financial statements

3
SHARK OPTICAL LIMITED (REGISTERED NUMBER: 06681873)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

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.
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 (2020 - 2 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 April 2020 7,044
Additions 858
At 31 March 2021 7,902
DEPRECIATION
At 1 April 2020 5,598
Charge for year 576
At 31 March 2021 6,174
NET BOOK VALUE
At 31 March 2021 1,728
At 31 March 2020 1,446

4
SHARK OPTICAL LIMITED (REGISTERED NUMBER: 06681873)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade Debtors 4,875 3,500
Other Debtors & Prepayments 477 534
5,352 4,034

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Corporation Tax 4,044 5,584
Director's Loan Account 100 211
Other Creditors & Accruals 1,740 1,865
5,884 7,660

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 April 2020 2,527
Profit for the year 17,520
Dividends (17,000 )
At 31 March 2021 3,047

5