Optik Leisure Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04512358

Optik Leisure Ltd

Financial Statements

For The Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

N J Perrin

A J Hancox

REGISTERED OFFICE:

The Greenhouse

106-108 Ashbourne Road

Derby

DE22 3AG

REGISTERED NUMBER:

04512358

FIXED ASSETS

Tangible assets

4

8,641

10,953

CURRENT ASSETS

Stocks

12,400

-

Debtors

5

181,123

152,010

Cash at bank and in hand

33,846

148,955

227,369

300,965

CREDITORS

Amounts falling due within one year

6

210,552

213,455

NET CURRENT ASSETS

16,817

87,510

TOTAL ASSETS LESS CURRENT LIABILITIES

25,458

98,463

PROVISIONS FOR LIABILITIES

805

1,117

NET ASSETS

24,653

97,346

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,553

97,246

SHAREHOLDERS' FUNDS

24,653

97,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2018 and were signed on its behalf by:

N J Perrin - Director

1.	STATUTORY INFORMATION

Optik Leisure Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Plant and machinery

-

15% on cost

Motor vehicles

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax

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

sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2017

42,987

25,605

68,592

Additions

152

-

152

At 31 December 2017

43,139

25,605

68,744

DEPRECIATION

At 1 January 2017

32,034

25,605

57,639

Charge for year

2,464

-

2,464

At 31 December 2017

34,498

25,605

60,103

NET BOOK VALUE

At 31 December 2017

8,641

-

8,641

At 31 December 2016

10,953

-

10,953

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

25,957

(24,114

)

Other debtors

155,166

176,124

181,123

152,010

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

171,392

182,299

Taxation and social security

5,000

24,722

Other creditors

34,160

6,434

210,552

213,455

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

£

£

N J Perrin

Balance outstanding at start of year

(590

)

(5,745

)

Amounts advanced

33,566

59,701

Amounts repaid

(44,931

)

(54,546

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(11,955

)

(590

)

A J Hancox

Balance outstanding at start of year

(590

)

(5,745

)

Amounts advanced

30,200

58,195

Amounts repaid

(44,931

)

(53,040

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(15,321

)

(590

)

The above is interest free and repayable in demand.

8.	RELATED PARTY DISCLOSURES

Other debtors includes an interest free loan, repayable on demand, of £155,166 (2016: £153,060). This amount is

due from Optik Properties Limited. Optik Leisure Limited and Optik Properties Limited share the same directors

and shareholders.

9.	ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party.