Accounts Submission

Accounts Submission

RICHARD OWENS OPTICIANS LIMITED - Company Information

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RICHARD OWENS OPTICIANS LIMITED

Company Registration Number:
NI612497 (Northern Ireland)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 July 2015

End date: 30 June 2016

RICHARD OWENS OPTICIANS LIMITED

Abbreviated Balance sheet

As at 30 June 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 240,000 280,000
Tangible assets: 3 20,219 29,202
Total fixed assets: 260,219 309,202
Current assets
Stocks: 56,283 44,736
Debtors: 27,714 26,424
Cash at bank and in hand: 16,839 21,348
Total current assets: 100,836 92,508
Creditors: amounts falling due within one year: ( 60,331 ) ( 50,900 )
Net current assets (liabilities): 40,505 41,608
Total assets less current liabilities: 300,724 350,810
Creditors: amounts falling due after more than one year: ( 29,807 ) ( 133,777 )
Provision for liabilities: ( 4,044 ) ( 5,308 )
Total net assets (liabilities): 266,873 211,725

The notes form part of these financial statements

RICHARD OWENS OPTICIANS LIMITED

Balance sheet continued

As at 30 June 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 4 100 100
Profit and loss account: 266,773 211,625
Shareholders funds: 266,873 211,725

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 29 March 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: Richard Paul Alexander Owens
Status: Director

The notes form part of these financial statements

RICHARD OWENS OPTICIANS LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

    Turnover policy

    Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery and fixtures and fittings are depreciated at 20% - 33.3% on cost.

    Intangible fixed assets amortisation policy

    Amortisation is calculated at 10% to write off the cost of goodwill over its estimated useful economic life.

    Valuation information and policy

    Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

RICHARD OWENS OPTICIANS LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 2. Intangible assets

    Total
    Cost £
    01 July 2015: 400,000
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    30 June 2016: 400,000
    Amortisation
    01 July 2015: 120,000
    Provided during the period: 40,000
    On disposals: 0
    Other Adjustments: 0
    30 June 2016: 160,000
    Net book value
    30 June 2016: 240,000
    30 June 2015: 280,000

RICHARD OWENS OPTICIANS LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 3. Tangible assets

    Total
    Cost £
    01 July 2015: 51,043
    Additions: 2,863
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    30 June 2016: 53,906
    Depreciation
    01 July 2015: 21,841
    Charge for year: 11,846
    On disposals: 0
    Other adjustments: 0
    30 June 2016: 33,687
    Net book value
    30 June 2016: 20,219
    30 June 2015: 29,202

RICHARD OWENS OPTICIANS LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100