OPTIMUM_RESEARCH_LTD - Accounts

OPTIMUM RESEARCH LIMITED - Company Information

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Company Registration No. 05256195 (England and Wales)

OPTIMUM RESEARCH LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

OPTIMUM RESEARCH LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

OPTIMUM RESEARCH LTD

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

9,027

11,688

Current assets

Debtors

20,295

25,765

Cash at bank and in hand

22,469

38,740

42,764

64,505

Creditors: amounts falling due within one year

(35,425)

(45,396)

Net current assets

7,339

19,109

Total assets less current liabilities

16,366

30,797

Provisions for liabilities

(2,208)

(2,005)

14,158

28,792

Capital and reserves

Called up share capital

Profit and loss account

14,148

28,782

Shareholders' funds

14,158

28,792

For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 9 May 2016

D Wardman

K Wardman

Director

Company Registration No. 05256195

OPTIMUM RESEARCH LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services net of VAT. The value of work in progress not invoiced at the year end is included within turnover and trade debtors.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

OPTIMUM RESEARCH LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 December 2014

30,323

32,844

63,167

Additions

2,899

Disposals

(21,398)

At 30 November 2015

30,323

14,345

44,668

Depreciation

At 1 December 2014

30,323

21,155

51,478

On disposals

(17,614)

Charge for the year

1,777

At 30 November 2015

30,323

5,318

35,641

Net book value

At 30 November 2015

9,027

At 30 November 2014

11,688

Share capital

2015

2014

Allotted, called up and fully paid

10 ordinary shares of £1 each

Related party relationships and transactions

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr and Mrs Wardman

11,075

19,595

27,093

3,577

11,075

19,595

27,093

3,577