Optimised Energetics Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07833336 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

30 NOVEMBER 2016

FOR

OPTIMISED ENERGETICS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs S Hayward

REGISTERED OFFICE:

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

REGISTERED NUMBER:

07833336 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

Chartered Accountants

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

FIXED ASSETS

Tangible assets

2

21,693

25,752

CURRENT ASSETS

Stocks

15,739

14,288

Debtors

33,078

28,411

Cash at bank

1,410

261

50,227

42,960

CREDITORS

Amounts falling due within one year

55,688

32,777

NET CURRENT (LIABILITIES)/ASSETS

(5,461

)

10,183

TOTAL ASSETS LESS CURRENT
LIABILITIES

16,232

35,935

CREDITORS

Amounts falling due after more than
one year

65,047

50,535

NET LIABILITIES

(48,815

)

(14,600

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(48,816

)

(14,601

)

SHAREHOLDERS' FUNDS

(48,815

)

(14,600

)

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 director acknowledges her 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 4 August 2017 and were signed by:

Mrs S Hayward - 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

The turnover shown in the profit and loss account represents amounts invoiced during the

year, exclusive of 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.

Leasehold improvements

-

over the term of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Equipment

-

25% on reducing balance

All fixed assets are initially recorded at 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 provided in full on timing differences which result in an obligation at the

balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates

expected to apply when they crystallise based on current tax rates and law.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not

they will be recovered. Deferred tax assets and liabilities are not discounted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classed as financial

liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and

gains or losses relating to financial liabilities are included in the profit and loss account.

Finance costs are calculated so as to produce a constant rate of return on the outstanding

liability.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classed as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of

ownership remain with the lessor are charged against profits on a straight line basis over the

period of the lease.

Going concern

The accounts have been prepared on a going concern basis not withstanding the excess of

liabilities over assets. The Director has confirmed her intention to continue her support to the

company for the foreseeable future.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

36,275

Additions

1,062

At 30 November 2016

37,337

DEPRECIATION

At 1 December 2015

10,523

Charge for year

5,121

At 30 November 2016

15,644

NET BOOK VALUE

At 30 November 2016

21,693

At 30 November 2015

25,752

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£0.00

1