Optikal (Potters Bar) Ltd - Limited company - abbreviated - 11.0.0

OPTIKAL (POTTERS BAR) LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31 MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

Mrs. S Tuli

REGISTERED OFFICE:

2nd Floor

201 Haverstock Hill

London

NW3 4QG

REGISTERED NUMBER:

06729964 (England and Wales)

ACCOUNTANTS:

AEL Partners LLP

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Intangible assets

2

71,524

76,274

Tangible assets

3

54,628

72,361

126,152

148,635

CURRENT ASSETS

Stocks

44,600

78,650

Debtors

54,273

71,102

98,873

149,752

CREDITORS

Amounts falling due within one year

155,497

184,043

NET CURRENT LIABILITIES

(56,624

)

(34,291

)

TOTAL ASSETS LESS CURRENT LIABILITIES

69,528

114,344

CREDITORS

Amounts falling due after more than one year

4

41,213

63,797

NET ASSETS

28,315

50,547

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

28,215

50,447

SHAREHOLDERS' FUNDS

28,315

50,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 21 October 2014 and were signed by:

Mrs. S Tuli - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared in accordance with applicable United Kingdom Accounting Standards (United

Kingdom Generally Accepted Accounting Practice), which have been consistently applied (except as otherwise

stated).

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 April 2008).

Going concern

The Company has sufficient access to financial resources which, together with internally generated cash flows,

will continue to provide sufficient sources of liquidity to fund its current operations including its contractual and

commercial commitments and the Company is well placed to manage its business risks successfully. The director

has formed the judgement, at the time of approving the financial statements, that there is a reasonable

expectation that the Company has adequate resources to continue in operational existence for the foreseeable

future. For this reason, the director continues to adopt the going concern basis in preparing the financial

statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

5% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

95,000

AMORTISATION

At 1 April 2013

18,726

Amortisation for year

4,750

At 31 March 2014

23,476

NET BOOK VALUE

At 31 March 2014

71,524

At 31 March 2013

76,274

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

142,635

DEPRECIATION

At 1 April 2013

70,274

Charge for year

17,733

At 31 March 2014

88,007

NET BOOK VALUE

At 31 March 2014

54,628

At 31 March 2013

72,361

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

36,632

45,050

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2014 and

31 March 2013:

2014

2013

£

£

Mrs. S Tuli

Balance outstanding at start of year

(8,627

)

29,627

Amounts advanced

212,556

160,989

Amounts repaid

(224,922

)

(199,243

)

Balance outstanding at end of year

(20,993

)

(8,627

)

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Optikal (Potters Bar) Ltd for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Optikal (Potters Bar) Ltd in accordance with our terms of engagement. Our

work has been undertaken solely to prepare for your approval the financial statements of Optikal (Potters Bar) Ltd and

state those matters that we have agreed to state to the director of Optikal (Potters Bar) Ltd in this report in accordance

with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Optikal (Potters Bar) Ltd has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Optikal (Potters

Bar) Ltd. You consider that Optikal (Potters Bar) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Optikal (Potters Bar) Ltd.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

AEL Partners LLP

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

21 October 2014