Abbreviated Company Accounts - INTELLIGENT OPTICAL INDUSTRIES LTD

Abbreviated Company Accounts - INTELLIGENT OPTICAL INDUSTRIES LTD


Registered Number 08283789

INTELLIGENT OPTICAL INDUSTRIES LTD

Abbreviated Accounts

30 April 2016

INTELLIGENT OPTICAL INDUSTRIES LTD Registered Number 08283789

Abbreviated Balance Sheet as at 30 April 2016

Notes 2016 2015
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets 2 148,032 199,864
Tangible assets 3 14,764 15,683
Investments - -
162,796 215,547
Current assets
Stocks - -
Debtors 242,966 130,162
Investments - -
Cash at bank and in hand 299 7,677
243,265 137,839
Prepayments and accrued income - -
Creditors: amounts falling due within one year (343,011) (279,800)
Net current assets (liabilities) (99,746) (141,961)
Total assets less current liabilities 63,050 73,586
Creditors: amounts falling due after more than one year 0 0
Provisions for liabilities 0 0
Accruals and deferred income 0 0
Total net assets (liabilities) 63,050 73,586
Capital and reserves
Called up share capital 12,540 11,798
Share premium account 1,211,581 726,516
Revaluation reserve 0 0
Other reserves 0 0
Profit and loss account (1,161,071) (664,728)
Shareholders' funds 63,050 73,586
  • For the year ending 30 April 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.

Approved by the Board on 31 March 2017

And signed on their behalf by:
Marcus Lewis, Director
Andrew Mence, Director

INTELLIGENT OPTICAL INDUSTRIES LTD Registered Number 08283789

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

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

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Intangible assets amortisation policy
Patents are valued at cost less accumulated depreciation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives

2Intangible fixed assets
£
Cost
At 1 May 2015 259,160
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 30 April 2016 259,160
Amortisation
At 1 May 2015 59,296
Charge for the year 51,832
On disposals -
At 30 April 2016 111,128
Net book values
At 30 April 2016 148,032
At 30 April 2015 199,864
3Tangible fixed assets
£
Cost
At 1 May 2015 18,552
Additions 4,000
Disposals 0
Revaluations 0
Transfers 0
At 30 April 2016 22,552
Depreciation
At 1 May 2015 2,869
Charge for the year 4,919
On disposals 0
At 30 April 2016 7,788
Net book values
At 30 April 2016 14,764
At 30 April 2015 15,683

4Transactions with directors

Name of director receiving advance or credit: Marcus Lewis
Description of the transaction: Directors' advances
Balance at 1 May 2015: £ 0
Advances or credits made: £ 50,000
Advances or credits repaid: £ 46,000
Balance at 30 April 2016: £ 4,000