Optimal Industrial Automation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02482877 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Optimal Industrial Automation Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Gadsby

N D Richards

REGISTERED OFFICE:

Goodrich Close

Westerleigh Business Park

Yate

Bristol

BS37 5YT

REGISTERED NUMBER:

02482877 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

Senate Court

Southernhay Gardens

Exeter

Devon

EX1 1NT

CURRENT ASSETS

Debtors

4

1,232,014

1,535,922

Cash at bank

1,406,809

424,578

2,638,823

1,960,500

CREDITORS

Amounts falling due within one year

5

639,570

852,960

NET CURRENT ASSETS

1,999,253

1,107,540

TOTAL ASSETS LESS CURRENT LIABILITIES

1,999,253

1,107,540

CAPITAL AND RESERVES

Called up share capital

190

190

Capital redemption reserve

10

10

Retained earnings

1,999,053

1,107,340

SHAREHOLDERS' FUNDS

1,999,253

1,107,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 8 October 2018 and were signed on its behalf by:

M J Gadsby - Director

N D Richards - Director

1.	STATUTORY INFORMATION

Optimal Industrial Automation 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.

The directors have assessed going concern and consider that there are no material

uncertainties which may cast significant doubt about the company's ability to continue. As a

result, the financial statements have been prepared using the going concern basis of

accounting.

Turnover

Turnover represents net invoiced sale of goods and services, excluding value added tax

provided to customers and is recognised upon delivery of goods or services to customers.

Income on contracts is recognised in accordance with the requirements of UITF 40 where it

is considered there is a contractual right to income during the performance of a contract.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2017 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

644,045

1,128,795

Amounts recoverable on contract

251,276

-

Other debtors

1,159

41,714

Corporation Tax

-

259,109

VAT

-

106,304

Prepayments

335,534

-

1,232,014

1,535,922

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

39,043

-

Corporation Tax

22

-

Social security and other taxes

52,993

-

VAT

53,946

-

Other creditors

15,910

-

Accruals and deferred income

477,656

852,960

639,570

852,960

6.	RELATED PARTY DISCLOSURES

During the year the company was charged a management charge of £299,258 (2017: £nil)

from an LLP in which the directors are partners.

During the year the company purchased goods and services to the value of £nil (2017 -

£4,060,084) from an LLP in which the directors are partners.

Included within other debtors is an amount of £42,650 (2017 - £nil) due from a company in

which the directors have a controlling interest in.

Included within other creditors is an amount of £20,113 (2017 - £443,096) due to an LLP in

which the directors are members.