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REGISTERED NUMBER: 08395574 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMAR OPTICS LIMITED

COMAR OPTICS LIMITED (REGISTERED NUMBER: 08395574)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COMAR OPTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P J Marsh
M Hynd
D Donald





REGISTERED OFFICE: The Ridge
Iceni Way
HAVERHILL
Suffolk
CB9 7FD





REGISTERED NUMBER: 08395574 (England and Wales)





AUDITORS: Staffords
Chartered Accountants
& Statutory Auditors
Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH

COMAR OPTICS LIMITED (REGISTERED NUMBER: 08395574)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,097,250 1,212,750
Tangible assets 5 258,407 190,487
1,355,657 1,403,237

CURRENT ASSETS
Stocks 2,201,216 2,273,897
Debtors 6 7,790,182 7,171,478
Cash at bank 660,765 528,926
10,652,163 9,974,301
CREDITORS
Amounts falling due within one year 7 375,694 937,562
NET CURRENT ASSETS 10,276,469 9,036,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,632,126

10,439,976

PROVISIONS FOR LIABILITIES 9 64,602 47,622
NET ASSETS 11,567,524 10,392,354

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11,567,523 10,392,353
SHAREHOLDERS' FUNDS 11,567,524 10,392,354

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





P J Marsh - Director


COMAR OPTICS LIMITED (REGISTERED NUMBER: 08395574)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Comar Optics 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 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

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 etc - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


COMAR OPTICS LIMITED (REGISTERED NUMBER: 08395574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 2,310,000
AMORTISATION
At 1 January 2023 1,097,250
Amortisation for year 115,500
At 31 December 2023 1,212,750
NET BOOK VALUE
At 31 December 2023 1,097,250
At 31 December 2022 1,212,750

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 495,401
Additions 127,998
Disposals (277,819 )
At 31 December 2023 345,580
DEPRECIATION
At 1 January 2023 304,914
Charge for year 60,078
Eliminated on disposal (277,819 )
At 31 December 2023 87,173
NET BOOK VALUE
At 31 December 2023 258,407
At 31 December 2022 190,487

COMAR OPTICS LIMITED (REGISTERED NUMBER: 08395574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 991,218 1,256,241
Amounts owed by group undertakings 6,518,018 4,575,840
Other debtors 280,946 1,339,397
7,790,182 7,171,478

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 78,249 50,807
Taxation and social security 178,488 681,980
Other creditors 118,957 204,775
375,694 937,562

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 441,839 441,839
Between one and five years 846,858 1,288,697
1,288,697 1,730,536

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 64,602 47,622

Deferred
tax
£   
Balance at 1 January 2023 47,622
Provided during year 16,980
Balance at 31 December 2023 64,602

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

COMAR OPTICS LIMITED (REGISTERED NUMBER: 08395574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Pettifer FCA (Senior Statutory Auditor)
for and on behalf of Staffords

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

A loan of £1,254,555 was advanced to a shareholder in Comar Investments Limited in the year ended 31 December 2022. This loan was fully repaid in the year ended 31 December 2023.

During the year, a loan of £251,775 was advanced to a director carrying interest at 2% per annum. This was fully repaid during the year.

In the year ended 31 December 2022, a loan of £1,512,553 was advanced to a director carrying interest at 2% per annum. This was fully repaid during the year.

13. ULTIMATE CONTROLLING PARTY

Comar Optics Limited is a subsidiary of Comar Investments Limited, registered office at The Ridge, Iceni Way, Haverhill, into whose accounts it is consolidated.

There is no ultimate controlling party.