Optikaal Vision Care Centre Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08497212 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Optikaal Vision Care Centre Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

K S Saimbi

REGISTERED OFFICE:

West Hill House

Allerton Hill

Chapel Allerton

Leeds

LS7 3QB

REGISTERED NUMBER:

08497212 (England and Wales)

ACCOUNTANTS:

Malcolm Jones & Co LLP

Accountants and Business Advisors

West Hill House

Allerton Hill

Chapel Allerton

Leeds

West Yorkshire

LS7 3QB

FIXED ASSETS

Intangible assets

2

58,088

65,349

Tangible assets

3

9

77

58,097

65,426

CURRENT ASSETS

Stocks

5,875

6,025

Debtors

8,750

11,408

Cash in hand

300

300

14,925

17,733

CREDITORS

Amounts falling due within one year

42,832

37,544

NET CURRENT LIABILITIES

(27,907

)

(19,811

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,190

45,615

PROVISIONS FOR LIABILITIES

2

15

NET ASSETS

30,188

45,600

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

30,088

45,500

SHAREHOLDERS' FUNDS

30,188

45,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 April 2016 and were signed by:

K S Saimbi - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

72,610

AMORTISATION

At 1 January 2015

7,261

Amortisation for year

7,261

At 31 December 2015

14,522

NET BOOK VALUE

At 31 December 2015

58,088

At 31 December 2014

65,349

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

242

DEPRECIATION

At 1 January 2015

165

Charge for year

68

At 31 December 2015

233

NET BOOK VALUE

At 31 December 2015

9

At 31 December 2014

77

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

100

Ordinary

1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2015 and

31 December 2014:

31.12.15

31.12.14

£

£

K S Saimbi

Balance outstanding at start of year

(4,085

)

-

Amounts advanced

125,329

106,253

Amounts repaid

(133,844

)

(110,338

)

Balance outstanding at end of year

(12,600

)

(4,085

)