Optic Matter Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10796737 (England and Wales)

OPTIC MATTER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2019

Page

Balance sheet

1

to

2

Notes to the financial statements

3

to

4

Fixed assets

Tangible assets

4

3,273

3,628

Current assets

Debtors

5

5,095

8,196

Cash at bank

3,724

4,719

8,819

12,915

Creditors

Amounts falling due within one year

6

(7,722

)

(9,129

)

Net current assets

1,097

3,786

Total assets less current liabilities

4,370

7,414

Capital and reserves

Called up share capital

4,000

4,000

Retained earnings

370

3,414

4,370

7,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 applicable to companies subject to the small companies regime.

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 13 February 2020 and were signed on its behalf by:

A Benfield - Director

J Smerdon - Director

1.	Statutory information

Optic Matter 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:

10796737

Registered office:

16 Henry Swan Way

Colchester

Essex

CO1 1LY

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

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

-

20% on reducing balance

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	Employees and directors

The average number of employees during the year was 2 (2018 - 2 ) .

4.	Tangible fixed assets

Plant and

machinery

£

Cost

At 1 June 2018

5,415

Additions

1,538

Disposals

(735

)

At 31 May 2019

6,218

Depreciation

At 1 June 2018

1,787

Charge for year

1,401

Eliminated on disposal

(243

)

At 31 May 2019

2,945

Net book value

At 31 May 2019

3,273

At 31 May 2018

3,628

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

1,095

4,196

Other debtors

4,000

4,000

5,095

8,196

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Other creditors

7,722

9,129