IRIS Accounts Production v18.2.1.62 08421970 Board of Directors 1.4.17 31.3.18 31.3.18 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure084219702017-03-31084219702018-03-31084219702017-04-012018-03-31084219702016-03-31084219702016-04-012017-03-31084219702017-03-3108421970ns15:EnglandWales2017-04-012018-03-3108421970ns14:PoundSterling2017-04-012018-03-3108421970ns10:Director12017-04-012018-03-3108421970ns10:PrivateLimitedCompanyLtd2017-04-012018-03-3108421970ns10:SmallEntities2017-04-012018-03-3108421970ns10:AuditExemptWithAccountantsReport2017-04-012018-03-3108421970ns10:SmallCompaniesRegimeForDirectorsReport2017-04-012018-03-3108421970ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-3108421970ns10:FullAccounts2017-04-012018-03-3108421970ns10:Director22017-04-012018-03-3108421970ns10:RegisteredOffice2017-04-012018-03-3108421970ns5:CurrentFinancialInstruments2018-03-3108421970ns5:CurrentFinancialInstruments2017-03-3108421970ns5:ShareCapital2018-03-3108421970ns5:ShareCapital2017-03-3108421970ns5:RetainedEarningsAccumulatedLosses2018-03-3108421970ns5:ComputerEquipment2017-04-012018-03-3108421970ns5:ComputerEquipment2017-03-3108421970ns5:ComputerEquipment2018-03-3108421970ns5:ComputerEquipment2017-03-3108421970ns5:DeferredTaxation2017-03-3108421970ns5:DeferredTaxation2017-04-012018-03-3108421970ns5:DeferredTaxation2018-03-31


REGISTERED NUMBER: 08421970 (England and Wales)


















OPTIMA PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018






OPTIMA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08421970)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6

Accountants' Report 7

OPTIMA PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: R Harsant
Mrs C M Rogers





REGISTERED OFFICE: Yew Tree Cottage
Wootton Lane
Charing
Kent
TN27 0DU





REGISTERED NUMBER: 08421970 (England and Wales)





ACCOUNTANTS: Wilkins Kennedy
Delandale House
37 Old Dover Road
Canterbury
Kent
CT1 3JF

OPTIMA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08421970)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1,260 854
Investment property 4 249,000 249,000
250,260 249,854

CURRENT ASSETS
Cash at bank 105,132 129,081

CREDITORS
Amounts falling due within one year 5 285,306 313,588
NET CURRENT LIABILITIES (180,174 ) (184,507 )
TOTAL ASSETS LESS CURRENT LIABILITIES 70,086 65,347

PROVISIONS FOR LIABILITIES 7 3,901 3,448
NET ASSETS 66,185 61,899

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 66,085 61,799
SHAREHOLDERS' FUNDS 66,185 61,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

OPTIMA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08421970)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 4 November 2018 and were signed on its behalf
by:





Mrs C M Rogers - Director


OPTIMA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08421970)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

Optima Property Management 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
The financial statements are produced in sterling (£) which is also the functional currency for the company and
rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.

After reviewing the company's forecasts and projections and taking into account the economic conditions and
possible changes in trading performance, the directors of the company have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future. The
company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover comprises revenue
earned from the value of rents and other property management charges receivable in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Trade and other payables
Trade and other payables are measured at their transaction price unless the arrangement constitutes a
financing transaction in which case the transaction is measured at present value of future payments
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net
of their transaction costs. They are subsequently measured at amortised cost using the effective interest
method.

Investment property
Investment property is carried at fair value determined annually and derived from the current market rents
and investment property yields for comparable real estate, adjusted if necessary for any difference in the
nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are
recognised in the Statement of comprehensive income.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current
or past reporting periods using tax rates that have been enacted or substantively enacted by 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 only to the extent that it is probable that they will be recovered
against future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting
date that are expected to apply to the reversal of the timing difference.

OPTIMA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08421970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified, and accounted for, according to the substance of the contractual
arrangement, as for financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on
notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than
three months from the date of acquisition and that are readily convertible to known amounts of cash with
insignificant risk of change in value.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised
when paid. Final equity dividends are recognised when approved by the shareholders at an annual general
meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest
payable.

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2017 958
Additions 1,416
Disposals (958 )
At 31 March 2018 1,416
DEPRECIATION
At 1 April 2017 104
Charge for year 156
Eliminated on disposal (104 )
At 31 March 2018 156
NET BOOK VALUE
At 31 March 2018 1,260
At 31 March 2017 854

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017
and 31 March 2018 249,000
NET BOOK VALUE
At 31 March 2018 249,000
At 31 March 2017 249,000

OPTIMA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08421970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 2,682 2,830
Other creditors 282,624 310,758
285,306 313,588

6. LEASING AGREEMENTS
The company earns rental income from property. At the balance sheet date, future minimum rentals
receivable by the Company are as follows:

2018 2017
£    £   

Not later than 1 year 24,000 24,000
Later than 1 year and not later than 5 years 96,000 96,000
Later than 5 years 2,000 26,000
----------- ------------
122,000 146,000
----------- ------------

7. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 3,901 3,448

Deferred
tax
£   
Balance at 1 April 2017 3,448
Provided during year 453
Accelerated capital allowances
Balance at 31 March 2018 3,901

8. RESERVES

Included within retained earnings are distributable reserves of £61,299 (2017 - £61,299).

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
OPTIMA PROPERTY MANAGEMENT LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a
Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Optima Property Management Limited for the year ended 31 March 2018 which comprise the
Income Statement, Statement of Financial Position and the related notes from the company's accounting records and
from information and explanations you have given us.

This report is made solely to the Board of Directors of Optima Property Management Limited, as a body, in accordance
with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial
statements of Optima Property Management Limited and state those matters that we have agreed to state to the
Board of Directors of Optima Property Management Limited, as a body, in this report. To the fullest extent permitted
by law, we do not accept or assume responsibility to anyone other than Optima Property Management Limited and its
Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Optima Property Management 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 Optima Property Management Limited. You consider that Optima Property Management 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 Optima Property
Management 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.






Wilkins Kennedy
Delandale House
37 Old Dover Road
Canterbury
Kent
CT1 3JF


4 November 2018