OptiNordic Ltd
Registered number: 06558298
Statement of Financial Position
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Financial assets 151,418 151,418
Current assets
Debtors 3 24,358 22,869
Cash at bank and in hand 2,537 296
26,895 23,165
Creditors: amounts falling due within one year 4 (54,098) (47,427)
Net current liabilities (27,203) (24,262)
Net assets 124,215 127,156
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 123,215 126,156
Shareholder's funds 124,215 127,156
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Husum
Director
Approved by the board on 10 October 2023
OptiNordic Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value and impairment losses are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 23,958 22,869
Other debtors 400 -
24,358 22,869
4 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 740 700
Amounts owed to group undertakings and undertakings in which the company has a participating interest 29 29
Other creditors 53,329 46,698
54,098 47,427
5 Other information
OptiNordic Ltd is a private company limited by shares and incorporated in England. Its registered office is:
86-90 Paul Street
3rd Floor
London
EC2A 4NE
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