Animal Optics Limited 30/11/2021 iXBRL


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Company registration number: 04600464
Animal Optics Limited
Unaudited filleted financial statements
for the year ended
30 November 2021
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
Animal Optics Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Animal Optics Limited
Directors and other information
Director Prof. Andrew Parker
Secretary Dr. Natalia Martini
Company number 04600464
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address 2/21 Queens Road
Richmond
Surrey
TW10 6JW
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Bankers HSBC Bank plc
67 George Street
Richmond
Surrey
TW9 1HG
Animal Optics Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Animal Optics Limited
Year ended 30 November 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Animal Optics Limited for the year ended 30 November 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Animal Optics Limited, as a body, in accordance with the terms of our engagement letter dated 18 February 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Animal Optics Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Animal Optics Limited and its director as a body for our work or for this report.
It is your duty to ensure that Animal Optics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Animal Optics Limited. You consider that Animal Optics Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Animal Optics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
14 April 2022
Animal Optics Limited
Statement of financial position
30 November 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 6 1,841 2,046
_______ _______
1,841 2,046
Current assets
Debtors 7 18,897 25,532
Cash at bank and in hand 5,708 1,181
_______ _______
24,605 26,713
Creditors: amounts falling due
within one year 8 ( 4,530) ( 7,217)
_______ _______
Net current assets 20,075 19,496
_______ _______
Total assets less current liabilities 21,916 21,542
Provisions for liabilities ( 350) ( 400)
_______ _______
Net assets 21,566 21,142
_______ _______
Capital and reserves
Called up share capital 9 1 1
Profit and loss account 21,565 21,141
_______ _______
Shareholders funds 21,566 21,142
_______ _______
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 April 2022 , and are signed on behalf of the board by:
Prof. Andrew Parker
Director
Company registration number: 04600464
Animal Optics Limited
Notes to the financial statements
Year ended 30 November 2021
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total value of sales during the year, excluding value added tax, based on the completion of each stage of the contract. The business became registered for value added tax on 1 January 2020.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tagible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors, other debtors and creditors and loans from banks.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Dividends
Equity dividends
2021 2020
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) - 66,000
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 December 2020 and 30 November 2021 3,850 3,850
_______ _______
Depreciation
At 1 December 2020 1,804 1,804
Charge for the year 205 205
_______ _______
At 30 November 2021 2,009 2,009
_______ _______
Carrying amount
At 30 November 2021 1,841 1,841
_______ _______
At 30 November 2020 2,046 2,046
_______ _______
7. Debtors
2021 2020
£ £
Trade debtors - 150
Other debtors 18,897 25,382
_______ _______
18,897 25,532
_______ _______
8. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 282 -
Corporation tax 130 3,950
Social security and other taxes 883 32
Other creditors 3,235 3,235
_______ _______
4,530 7,217
_______ _______
9. Called up share capital
Issued, called up and fully paid
2021 2020
No £ No £
Ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Amounts repaid Balance carried forward
£ £ £ £
Prof. Andrew Parker ( 1,265) - - ( 1,265)
_______ _______ _______ _______
2020
Balance brought forward Advances /(credits) to the director Amounts repaid Balance carried forward
£ £ £ £
Prof. Andrew Parker 19,135 45,600 ( 66,000) ( 1,265)
_______ _______ _______ _______
11. Related party transactions
Included in debtors is £18,690 (2020 £25,116) due from Lifescaped Limited, a company of which Prof. Andrew Parker has a material interest as a shareholder, representing the outstanding balance of a loan.