Company Registration No. 11111137 (England and Wales)
Advance Optics Limited
Unaudited accounts
for the year ended 31 December 2020
Advance Optics Limited
Unaudited accounts
Contents
Advance Optics Limited
Company Information
for the year ended 31 December 2020
Directors
Benjamin Gerard Cundy
Hugo Cundy
Company Number
11111137 (England and Wales)
Registered Office
COURTYARD MEWS PICCADILLY PLACE
LONDON ROAD
BATH
BA1 6PL
UNITED KINGDOM
Advance Optics Limited
Statement of financial position
as at
31 December 2020
Cash at bank and in hand
105,512
45,125
Creditors: amounts falling due within one year
(81,253)
(23,070)
Net current assets
108,250
57,994
Total assets less current liabilities
124,136
57,994
Provisions for liabilities
Net assets
121,118
57,994
Called up share capital
100
100
Profit and loss account
121,018
57,894
Shareholders' funds
121,118
57,994
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2021 and were signed on its behalf by
Hugo Cundy
Director
Company Registration No. 11111137
Advance Optics Limited
Notes to the Accounts
for the year ended 31 December 2020
Advance Optics Limited is a private company, limited by shares, registered in England and Wales, registration number 11111137. The registered office is COURTYARD MEWS PICCADILLY PLACE, LONDON ROAD, BATH, BA1 6PL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% of cost
Fixtures & fittings
25% of cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Advance Optics Limited
Notes to the Accounts
for the year ended 31 December 2020
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
Additions
18,000
3,182
21,182
At 31 December 2020
18,000
3,182
21,182
Charge for the year
4,500
796
5,296
At 31 December 2020
4,500
796
5,296
At 31 December 2020
13,500
2,386
15,886
Trade debtors
78,191
9,468
Total debtors less than one year
78,191
12,203
Total debtors
78,191
12,203
6
Creditors: amounts falling due within one year
2020
2019
Trade creditors
34,755
17,429
Taxes and social security
14,296
3,888
Loans from directors
1,460
940
7
Average number of employees
During the year the average number of employees was 2 (2019: 0).