Optimal Wind Ltd 11524424 false 2021-09-01 2022-08-31 2022-08-31 The principal activity of the company is that of supply of services to the wind turbine industry Digita Accounts Production Advanced 6.30.9574.0 true true 11524424 2021-09-01 2022-08-31 11524424 2022-08-31 11524424 core:CurrentFinancialInstruments 2022-08-31 11524424 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 11524424 bus:SmallEntities 2021-09-01 2022-08-31 11524424 bus:AuditExemptWithAccountantsReport 2021-09-01 2022-08-31 11524424 bus:FullAccounts 2021-09-01 2022-08-31 11524424 bus:SmallCompaniesRegimeForAccounts 2021-09-01 2022-08-31 11524424 bus:RegisteredOffice 2021-09-01 2022-08-31 11524424 bus:Director1 2021-09-01 2022-08-31 11524424 bus:PrivateLimitedCompanyLtd 2021-09-01 2022-08-31 11524424 countries:EnglandWales 2021-09-01 2022-08-31 11524424 2020-09-01 2021-08-31 11524424 2021-08-31 11524424 core:CurrentFinancialInstruments 2021-08-31 11524424 core:CurrentFinancialInstruments core:WithinOneYear 2021-08-31 iso4217:GBP xbrli:pure

Registration number: 11524424

Optimal Wind Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2022

 

Optimal Wind Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Optimal Wind Ltd

Company Information

Director

L B Dodds

Registered office

Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

Optimal Wind Ltd

(Registration number: 11524424)
Balance Sheet as at 31 August 2022

Note

2022
£

2021
£

Current assets

 

Cash at bank and in hand

 

-

41

Creditors: Amounts falling due within one year

4

(35,272)

(24,609)

Net liabilities

 

(35,272)

(24,568)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(35,273)

(24,569)

Shareholders' deficit

 

(35,272)

(24,568)

For the financial year ending 31 August 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 March 2024
 

.........................................
L B Dodds
Director

 

Optimal Wind Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11524424.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

The principal place of business is:
51 Staunton Park
Kingswood
Hull
HU7 3GB

These financial statements were authorised for issue by the director on 7 March 2024.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The company ceased to trade on 31 August 2022.

The director recognises that there is significant concern over the ability of the company to continue as a going concern due to the net current liabilities of £35,272 and the insolvent balance sheet of £35,273. The director has confirmed he will continue to support the company and as a result the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Optimal Wind Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2021 - 1).

 

Optimal Wind Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022

4

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

5

11,063

1,309

Trade creditors

 

-

1,321

Taxation and social security

 

22,397

20,846

Accruals and deferred income

 

1,812

1,133

 

35,272

24,609

5

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank overdrafts

38

-

Other borrowings

11,025

1,309

11,063

1,309

6

Related party transactions

Other transactions with the Director

At the year end, the company owed the director £11,025 (2021 - £1,309). This amount is unsecured, interest free and repayable on demand.