Company Registration No. 02251071 (England and Wales)
OPTIMA ALARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
PAGES FOR FILING WITH REGISTRAR
OPTIMA ALARMS LIMITED
COMPANY INFORMATION
Director
Mr P B Dawes
Secretary
Mr P B Dawes
Company number
02251071
Registered office
94/19 Popjak Road
Kent Science Park
Sittingbourne
Kent
ME9 8PS
Accountants
Perrys Accountants Limited
Chartered Accountants
3 Roberts Mews
Orpington
Kent
BR6 0JP
OPTIMA ALARMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
OPTIMA ALARMS LIMITED (REGISTERED NUMBER: 02251071)
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,666
20,542
Current assets
Debtors
4
14,795
21,329
Cash at bank and in hand
37,899
13,519
52,694
34,848
Creditors: amounts falling due within one year
5
(60,113)
(42,191)
Net current liabilities
(7,419)
(7,343)
Total assets less current liabilities
8,247
13,199
Creditors: amounts falling due after more than one year
6
(2,461)
(5,414)
Provisions for liabilities
(3,133)
(4,108)
Net assets
2,653
3,677
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
2,553
3,577
Total equity
2,653
3,677

The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue on 3 August 2017
Mr P B Dawes
Director
OPTIMA ALARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 2 -
1
Accounting policies
Company information

Optima Alarms Limited is a private company limited by shares incorporated in England and Wales. The registered office is 94/19 Popjak Road, Kent Science Park, Sittingbourne, Kent, ME9 8PS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% reducing balance
Computer equipment
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

OPTIMA ALARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2015 - 4).

OPTIMA ALARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 4 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2016 and 31 December 2016
2,285
6,150
19,618
28,053
Depreciation and impairment
At 1 January 2016
1,944
3,896
1,672
7,512
Depreciation charged in the year
51
338
4,486
4,875
At 31 December 2016
1,995
4,234
6,158
12,387
Carrying amount
At 31 December 2016
290
1,916
13,460
15,666
At 31 December 2015
342
2,254
17,946
20,542
4
Debtors
2016
2015
Amounts falling due within one year:
£
£
Trade debtors
14,795
21,329
5
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
6,828
10,814
Corporation tax
22,290
10,726
Other taxation and social security
4,696
3,588
Other creditors
26,299
17,063
60,113
42,191
6
Creditors: amounts falling due after more than one year
2016
2015
£
£
Other creditors
2,461
5,414

The long-term loans are secured by fixed charges over the fixed assets they relate to.

OPTIMA ALARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 5 -
7
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
80 Ordinary A of £1 each
80
80
20 Ordinary B of £1 each
20
20
100
100
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