Optical Support Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03275605 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2017

FOR

OPTICAL SUPPORT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C B Edwards

SECRETARY:

K R W Horton

REGISTERED OFFICE:

31-33 College Road

Harrow

Middlesex

HA1 1EJ

REGISTERED NUMBER:

03275605 (England and Wales)

ACCOUNTANTS:

Sproull & Co.

Chartered Accountants

31-33 College Road

Harrow

Middlesex

HA1 1EJ

FIXED ASSETS

Tangible assets

4

230,130

83,638

CURRENT ASSETS

Stocks

9,845

9,575

Debtors

5

330,950

366,476

Cash at bank and in hand

115,065

92,908

455,860

468,959

CREDITORS

Amounts falling due within one year

6

369,817

394,926

NET CURRENT ASSETS

86,043

74,033

TOTAL ASSETS LESS CURRENT LIABILITIES

316,173

157,671

CREDITORS

Amounts falling due after more than one year

7

(96,572

)

-

PROVISIONS FOR LIABILITIES

(22,754

)

(14,241

)

NET ASSETS

196,847

143,430

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

196,547

143,130

SHAREHOLDERS' FUNDS

196,847

143,430

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 6th June 2018 and were signed by:

C B Edwards - Director

1.	STATUTORY INFORMATION

Optical Support Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 etc

-

33.33% on cost, 25% on cost and 20% on cost

Stocks

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

moving items.

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.

Research and development

Expenditure on research and development, including items of a capital nature, is written off in the year in which

it is incurred.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st December 2016

8,005

670,503

21,063

7,450

707,021

Additions

5,468

212,720

32,307

-

250,495

Disposals

(8,005

)

(146,891

)

(540

)

-

(155,436

)

At 30th November 2017

5,468

736,332

52,830

7,450

802,080

DEPRECIATION

At 1st December 2016

8,005

597,458

13,575

4,345

623,383

Charge for year

1,094

90,334

10,172

1,863

103,463

Eliminated on disposal

(8,005

)

(146,891

)

-

-

(154,896

)

At 30th November 2017

1,094

540,901

23,747

6,208

571,950

NET BOOK VALUE

At 30th November 2017

4,374

195,431

29,083

1,242

230,130

At 30th November 2016

-

73,045

7,488

3,105

83,638

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

£

COST

Additions

191,725

At 30th November 2017

191,725

DEPRECIATION

Charge for year

33,628

At 30th November 2017

33,628

NET BOOK VALUE

At 30th November 2017

158,097

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

162,329

228,700

Other debtors

168,621

137,776

330,950

366,476

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Finance leases

60,727

-

Trade creditors

235,248

290,536

Taxation and social security

56,445

41,174

Other creditors

17,397

63,216

369,817

394,926

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Finance leases

96,572

-

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th November 2017 and

30th November 2016:

2017

2016

£

£

C B Edwards

Balance outstanding at start of year

44,631

51,199

Amounts advanced

36,062

59,432

Amounts repaid

(62,000

)

(66,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,693

44,631

9.	FIRST YEAR ADOPTION

The director considers that no transition adjustments were necessary upon adoption of Financial Reporting

Standard 102.