Norville Optical Company Limited - Dormant accounts - members and to registrar (filleted) 21.1

REGISTERED NUMBER: 00583241 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2020

for

Norville Optical Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

F G Norville

REGISTERED OFFICE:

1 High View

Hempsted

Gloucester

GL2 5LN

REGISTERED NUMBER:

00583241 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Investments

4

199

199

CURRENT ASSETS

Debtors

5

405,950

405,950

CREDITORS

Amounts falling due within one year

6

503,854

503,854

NET CURRENT LIABILITIES

(97,904

)

(97,904

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(97,705

)

(97,705

)

CAPITAL AND RESERVES

Called up share capital

7

21,698

21,698

Share premium

8

15,302

15,302

Other reserves

8

1,000

1,000

Retained earnings

8

(135,705

)

(135,705

)

SHAREHOLDERS' FUNDS

(97,705

)

(97,705

)

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 20 December 2021 and were signed by:

F G Norville - Director

1.	STATUTORY INFORMATION

Norville Optical Company 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.

The company was dormant throughout the year ended 31 December 2020. However, reference to information relating to the year ended 31 December 2019 has been made where appropriate.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Going concern

The balance sheet of the company is in deficit by £97,705 as at 31 December 2020 indicating that it is reliant on the financial support of its creditors to continue as a going concern. As the going concern status of its immediate holding company is in doubt, it is likely that Norville Optical Company Limited will be liquidated at some point in the near future and that the company should not be regarded as a going concern..

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

199

NET BOOK VALUE

At 31 December 2020

199

At 31 December 2019

199

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed by group undertakings

405,950

405,950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed to group undertakings

503,854

503,854

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

21,698

Ordinary

£1

21,698

21,698

8.

RESERVES

Retained

Share

Other

earnings

premium

reserves

Totals

£

£

£

£

At 1 January 2020

(135,705

)

15,302

1,000

(119,403

)

Profit for the year

-

-

At 31 December 2020

(135,705

)

15,302

1,000

(119,403

)