Optimum Precision Engineering Holdings Limited 09527955 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false true false 09527955 2022-04-01 2023-03-31 09527955 2023-03-31 09527955 bus:OrdinaryShareClass2 2023-03-31 09527955 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09527955 core:Non-currentFinancialInstruments 2023-03-31 09527955 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09527955 bus:SmallEntities 2022-04-01 2023-03-31 09527955 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09527955 bus:FullAccounts 2022-04-01 2023-03-31 09527955 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09527955 bus:RegisteredOffice 2022-04-01 2023-03-31 09527955 bus:Director1 2022-04-01 2023-03-31 09527955 bus:Director2 2022-04-01 2023-03-31 09527955 bus:Director3 2022-04-01 2023-03-31 09527955 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 09527955 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09527955 core:Subsidiary1 2022-04-01 2023-03-31 09527955 core:Subsidiary1 1 2022-04-01 2023-03-31 09527955 countries:AllCountries 2022-04-01 2023-03-31 09527955 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 09527955 2021-04-01 2022-03-31 09527955 2022-03-31 09527955 bus:OrdinaryShareClass2 2022-03-31 09527955 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09527955 core:Non-currentFinancialInstruments 2022-03-31 09527955 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 09527955 core:Subsidiary1 1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09527955

Optimum Precision Engineering Holdings Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Optimum Precision Engineering Holdings Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Optimum Precision Engineering Holdings Limited

Company Information

Directors

Mr Trevor Peters

Mr Paul William Moore

Mr Brian Percy Runham

Registered office

Unit 5A - 5C Lancaster Way Bisuness Park
Lancaster Way
Ely
Cambridgeshire
CB6 3NW

Accountants

Mrs Victoria Anne Cooper
Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA

 

Optimum Precision Engineering Holdings Limited

(Registration number: 09527955)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,085,000

1,085,000

Current assets

 

Cash at bank and in hand

 

10

160

Creditors: Amounts falling due within one year

(198,000)

(198,000)

Net current liabilities

 

(197,990)

(197,840)

Total assets less current liabilities

 

887,010

887,160

Creditors: Amounts falling due after more than one year

(306,500)

(406,500)

Accruals and deferred income

 

(1,200)

(1,200)

Net assets

 

579,310

479,460

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

579,210

479,360

Shareholders' funds

 

579,310

479,460

For the financial year ending 31 March 2023 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 November 2023 and signed on its behalf by:
 

Mr Trevor Peters
Director

 

Optimum Precision Engineering Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Unit 5A - 5C Lancaster Way Bisuness Park
Lancaster Way
Ely
Cambridgeshire
CB6 3NW

These financial statements were authorised for issue by the Board on 20 November 2023.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Optimum Precision Engineering Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

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 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Investments

Total
£

Cost or valuation

At 1 April 2022

1,085,000

Provision

Carrying amount

At 31 March 2023

1,085,000

At 31 March 2022

1,085,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Optimum Precision Engineering Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Optimum Precision Engineering Limited

Ordinary

100%

100%

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100