Cambridge Optronics Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06266833 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

CAMBRIDGE OPTRONICS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K J H Dunning

R Dickinson

SECRETARY:

K J H Dunning

REGISTERED OFFICE:

10 Albany Road

Bedford

Bedfordshire

MK40 3PH

REGISTERED NUMBER:

06266833 (England and Wales)

ACCOUNTANTS:

Rawlinson Pryde & Partners

Chartered Certified Accountants

Argent House

5 Goldington Road

Bedford

Bedfordshire

MK40 3JY

BANKERS:

Barclays Bank PLC

111 High Street

Bedford

MK40 1NJ

FIXED ASSETS

Tangible assets

2

6,674

16,419

CURRENT ASSETS

Stocks

-

26,702

Debtors

11,236

479

Investments

-

70,187

Cash at bank

30,464

5,720

41,700

103,088

CREDITORS

Amounts falling due within one year

620,714

605,604

NET CURRENT LIABILITIES

(579,014

)

(502,516

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(572,340

)

(486,097

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(572,342

)

(486,099

)

SHAREHOLDERS' FUNDS

(572,340

)

(486,097

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 30 September 2016 and were signed on its behalf
by:

K J H Dunning - Director

R Dickinson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

After making appropriate enquires, the directors believe that it is the intention of independent investors to

continue supporting the company for the foreseeable future. They therefore conclude that there are no material

uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

Accordingly, the company continues to adopt the going concern basis in preparing the annual report and

accounts.

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.

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

-

15% on cost

Computer equipment

-

33% 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Other income

Grants are recognised in the financial statements in the year in which they are receivable.

Revenue grants in respect of eligible costs associated to a specific project, are recognised and matched against

expenditure when it is incurred.

Current asset investments

Current asset investments are stated at cost, adjusted for income derived from them.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

68,121

Additions

713

At 30 November 2015

68,834

DEPRECIATION

At 1 December 2014

51,702

Charge for year

10,458

At 30 November 2015

62,160

NET BOOK VALUE

At 30 November 2015

6,674

At 30 November 2014

16,419

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

2

Ordinary

£1

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2015 and

30 November 2014:

30.11.15

30.11.14

£

K J H Dunning

Balance outstanding at start of year

(418

)

9,330

Amounts advanced

10,187

-

Amounts repaid

(1,557

)

(9,748

)

Balance outstanding at end of year

8,212

(418

)

R Dickinson

Balance outstanding at start of year

382

Amounts repaid

-

Balance outstanding at end of year

382

The loans have been provided interest free and unsecured, but are repayable on demand.

During the year, K H J Dunning, a director of the company, charged design / development fees and rent on normal commercial terms to the company amounting to £32,000 (2014: £6,280) and £2,000 (2014: £8,000) respectively.

During the year, R Dickinson, a director of the company, charged design / development fees on normal commercial terms to the company amounting to £14,100 (2014: £16,000).