2022-08-012023-07-312023-07-31false10263829Optech Performance 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Optech Performance Limited

Registered Number
10263829
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

Optech Performance Limited
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

Cullen, Christopher
Deumaga, Aline

Registered Address

107 North Street
Martock
TA12 6EJ

Registered Number

10263829 (England and Wales)
Optech Performance Limited
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets53,4321,696
3,4321,696
Current assets
Stocks27,75026,600
Cash at bank and on hand16,58213,446
44,33240,046
Creditors amounts falling due within one year7(15,547)(10,269)
Net current assets (liabilities)28,78529,777
Total assets less current liabilities32,21731,473
Provisions for liabilities(652)(322)
Net assets31,56531,151
Capital and reserves
Called up share capital11
Profit and loss account31,56431,150
Shareholders' funds31,56531,151
The financial statements were approved and authorised for issue by the Board of Directors on 3 January 2024, and are signed on its behalf by:
Cullen, Christopher
Director
Registered Company No. 10263829
Optech Performance Limited
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
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 and operations policy
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.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 August 222,6782,678
Additions2,1822,182
At 31 July 234,8604,860
Depreciation and impairment
At 01 August 22982982
Charge for year446446
At 31 July 231,4281,428
Net book value
At 31 July 233,4323,432
At 31 July 221,6961,696
6.Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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.
7.Creditors within one year

2023

2022

££
Taxation and social security13,5229,126
Other creditors1,082285
Accrued liabilities and deferred income943858
Total15,54710,269
Short term creditors are measured at transaction price (which is usually the invoice 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.