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Registration number: 08210693

Optima Systems Consultancy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Optima Systems Consultancy Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 5

Notes to the Financial Statements

6 to 10

 

Optima Systems Consultancy Limited

Company Information

Directors

Mr C Lamb

Mrs J Lamb

Mr K Howard

Mr D Bamford

Mr E Pryce

Company secretary

Mrs J Lamb

Registered office

Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Optima Systems Consultancy Limited
Year Ended 30 September 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Optima Systems Consultancy Limited for the year ended 30 September 2018 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Optima Systems Consultancy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Optima Systems Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of Optima Systems Consultancy Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Optima Systems Consultancy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Optima Systems Consultancy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Optima Systems Consultancy Limited. You consider that Optima Systems Consultancy 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 accounts of Optima Systems Consultancy 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 accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

22 October 2018

 

Optima Systems Consultancy Limited

(Registration number: 08210693)
Balance Sheet
30 September 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

41,308

35,831

Current assets

 

Stocks

5

151,244

168,840

Debtors

6

301,592

66,594

Cash at bank and in hand

 

759,971

688,556

 

1,212,807

923,990

Creditors: Amounts falling due within one year

7

(289,892)

(266,578)

Net current assets

 

922,915

657,412

Total assets less current liabilities

 

964,223

693,243

Provisions for liabilities

(7,849)

(6,808)

Net assets

 

956,374

686,435

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

1,963

1,963

Profit and loss account

954,311

684,372

Total equity

 

956,374

686,435

 

Optima Systems Consultancy Limited

(Registration number: 08210693)
Balance Sheet
30 September 2018

For the financial year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Optima Systems Consultancy Limited

(Registration number: 08210693)
Balance Sheet
30 September 2018

Approved and authorised by the Board on 22 October 2018 and signed on its behalf by:
 

.........................................

Mr C Lamb

Director

.........................................

Mrs J Lamb

Director

.........................................

Mr K Howard

Director

.........................................

Mr D Bamford

Director

.........................................

Mr E Pryce

Director

 

Optima Systems Consultancy Limited

Notes to the Financial Statements
Year Ended 30 September 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

These financial statements were authorised for issue by the Board on 22 October 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

 

Optima Systems Consultancy Limited

Notes to the Financial Statements
Year Ended 30 September 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Optima Systems Consultancy Limited

Notes to the Financial Statements
Year Ended 30 September 2018

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2017 - 12).

 

Optima Systems Consultancy Limited

Notes to the Financial Statements
Year Ended 30 September 2018

4

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 October 2017

53,281

53,281

Additions

19,253

19,253

At 30 September 2018

72,534

72,534

Depreciation

At 1 October 2017

17,450

17,450

Charge for the year

13,776

13,776

At 30 September 2018

31,226

31,226

Carrying amount

At 30 September 2018

41,308

41,308

At 30 September 2017

35,831

35,831

5

Stocks

2018
£

2017
£

Work in progress

151,244

168,840

6

Debtors

2018
£

2017
£

Trade debtors

301,592

56,557

Other debtors

-

10,037

Total current trade and other debtors

301,592

66,594

 

Optima Systems Consultancy Limited

Notes to the Financial Statements
Year Ended 30 September 2018

7

Creditors

Note

2018
£

2017
£

Due within one year

 

Trade creditors

 

92,609

51,204

Taxation and social security

 

72,975

45,843

Other creditors

 

124,308

169,531

 

289,892

266,578