Orion Optics UK Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05924501 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2016

for

Orion Optics UK Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B Pemberton

J J Pemberton

Mrs G A Pemberton

SECRETARY:

Mrs G A Pemberton

REGISTERED OFFICE:

The Glades

Festival Way

Festival Park

Stoke on Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

05924501 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

7,800

Tangible assets

3

45,964

55,303

45,964

63,103

CURRENT ASSETS

Stocks

253,500

263,100

Debtors

27,825

28,083

Cash at bank and in hand

35

8

281,360

291,191

CREDITORS

Amounts falling due within one year

4

288,327

306,190

NET CURRENT LIABILITIES

(6,967

)

(14,999

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

38,997

48,104

CREDITORS

Amounts falling due after more than
one year

4

(30,414

)

(43,899

)

PROVISIONS FOR LIABILITIES

(7,000

)

-

NET ASSETS

1,583

4,205

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

1,483

4,105

SHAREHOLDERS' FUNDS

1,583

4,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 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 31 March 2017 and were signed on its
behalf by:

B Pemberton - Director

Mrs G A Pemberton - Director

J J Pemberton - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the directors consider appropriate having regard to the

company's current and expected performance.

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 is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised

when the goods are physically delivered to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

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

basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

78,000

AMORTISATION

At 1 December 2015

70,200

Amortisation for year

7,800

At 30 November 2016

78,000

NET BOOK VALUE

At 30 November 2016

-

At 30 November 2015

7,800

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

188,813

Additions

2,053

At 30 November 2016

190,866

DEPRECIATION

At 1 December 2015

133,510

Charge for year

15,073

Eliminated on disposal

(3,681

)

At 30 November 2016

144,902

NET BOOK VALUE

At 30 November 2016

45,964

At 30 November 2015

55,303

4.

CREDITORS

Creditors include an amount of £ 60,916 (2015 - £ 76,631 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100