| Vivid Optical Limited |
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| Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Vivid Optical Limited for the year ended 30 June 2015 |
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| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Vivid Optical Limited for the year ended 30 June 2015 which comprise of the 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Vivid Optical Limited, as a body, in accordance with the terms of our engagement letter dated 3 December 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Vivid Optical Limited and state those matters that we have agreed to state to the Board of Directors of Vivid Optical Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vivid Optical Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Vivid Optical 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 loss of Vivid Optical Limited. You consider that Vivid Optical 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 Vivid Optical 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 abbreviated accounts. |
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| Tennant Accountancy Limited |
| Accountants |
| Mellowbrook House, |
| 1a, Stratford Lane, |
| Hilton, |
| Bridgnorth |
| WV15 5PF |
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| 20 November 2015 |
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| Vivid Optical Limited |
| Registered number: |
06266214 |
| Abbreviated Balance Sheet |
| as at 30 June 2015 |
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| Notes |
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2015 |
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2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
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5,034 |
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546 |
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| Current assets |
| Stocks |
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7,548 |
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4,700 |
| Debtors |
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557 |
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536 |
| Cash at bank and in hand |
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2,457 |
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867 |
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10,562 |
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6,103 |
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| Creditors: amounts falling due within one year |
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(29,287) |
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(14,251) |
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| Net current liabilities |
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(18,725) |
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(8,148) |
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| Net liabilities |
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(13,691) |
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(7,602) |
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| Capital and reserves |
| Called up share capital |
3 |
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1 |
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1 |
| Profit and loss account |
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(13,692) |
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(7,603) |
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| Shareholder's funds |
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(13,691) |
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(7,602) |
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| The Balance Sheet continues on the following page |
| The notes on pages 4 and 5 for part of these abbreviated accounts |
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| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her responsibilities for (i) ensuring that the company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and (ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company. |
| These abbreviated accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. |
| Approved by the board on 20 November 2015 |
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| Mrs. V.R. Whittingham |
| Director |
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| The notes on pages 4 and 5 for part of these abbreviated accounts |
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| Vivid Optical Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 June 2015 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
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Turnover represents net invoiced sales of services and goods. |
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
20% straight line |
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Motor vehicles |
25% straight line |
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Stocks |
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Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Going concern |
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At 30th June 2015 the company had net current liabilities. The director is of the opinion that the company will continue as a going concern in the foreseeable future and will continue to provide financial assistance as required. |
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| 2 |
Tangible fixed assets |
£ |
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Cost |
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At 1 July 2014 |
748 |
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Additions |
5,490 |
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Disposals |
(300) |
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At 30 June 2015 |
5,938 |
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Depreciation |
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At 1 July 2014 |
202 |
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Charge for the year |
762 |
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On disposals |
(60) |
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At 30 June 2015 |
904 |
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Net book value |
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At 30 June 2015 |
5,034 |
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At 30 June 2014 |
546 |
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| 3 |
Share capital |
Nominal |
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2015 |
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2015 |
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2014 |
| value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares |
£1 each |
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1 |
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1 |
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1 |
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