Optimised Energetics Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07833336 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2017

FOR

OPTIMISED ENERGETICS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

18,673

21,693

CURRENT ASSETS

Stocks

6

16,717

15,739

Debtors

7

31,902

33,078

Cash at bank

362

1,410

48,981

50,227

CREDITORS

Amounts falling due within one year

8

117,823

55,688

NET CURRENT LIABILITIES

(68,842

)

(5,461

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,169

)

16,232

CREDITORS

Amounts falling due after more than one year

9

-

65,047

NET LIABILITIES

(50,169

)

(48,815

)

CAPITAL AND RESERVES

Called up share capital

12

1

1

Retained earnings

(50,170

)

(48,816

)

SHAREHOLDERS' FUNDS

(50,169

)

(48,815

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director on 9 May 2018 and were signed by:

Mrs S Hayward - Director

1.	STATUTORY INFORMATION

Optimised Energetics Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address are as below:

Registered number:

07833336

Registered office:

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These are the first financial statements that comply with FRS 102. The company transitioned

to FRS 102 on 1 December 2016.

No transitional adjustments were required in equity or profit and loss for the year.

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.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

loss account, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 1 December 2016

4,435

15,906

13,039

3,957

37,337

Additions

-

-

-

1,512

1,512

At 30 November 2017

4,435

15,906

13,039

5,469

38,849

DEPRECIATION

At 1 December 2016

1,108

5,986

6,558

1,992

15,644

Charge for year

555

1,488

1,620

869

4,532

At 30 November 2017

1,663

7,474

8,178

2,861

20,176

NET BOOK VALUE

At 30 November 2017

2,772

8,432

4,861

2,608

18,673

At 30 November 2016

3,327

9,920

6,481

1,965

21,693

6.

STOCKS

2017

2016

£

£

Stocks

16,717

15,739

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

22,174

23,239

Other debtors

4,500

4,500

Corporation tax repayable

2,471

2,897

Deferred tax asset

2,757

2,442

31,902

33,078

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

13,394

21,572

Trade creditors

12,786

6,963

Corporation tax

3

-

PAYE and social security

399

291

VAT

7,425

4,959

Credit card

2,702

2,608

Other creditors

4,120

2,321

Director's current account

69,617

10,000

Accruals and deferred income

7,377

6,974

117,823

55,688

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Director's loan account

-

65,047

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

18,000

18,000

Between one and five years

4,500

22,500

22,500

40,500

11.	DEFERRED TAX

£

Balance at 1 December 2016

(2,442

)

Provided during year

(315

)

Balance at 30 November 2017

(2,757

)

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

£0.00

1

1

1