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Registered Number: 09167852
England and Wales

 

 

 

OPTIMAL FIRE AND SECURITY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Director D M Gaskell
Registered Number 09167852
Registered Office Suite 32, Wyvols Court
Basingstoke Road
Reading
Berkshire
RG7 1WY
Accountants Blue Peak Consulting Limited
Wyvols Court
Basingstoke Road
Swallowfield
Reading
RG7 1WY
Secretary V K Gaskell
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 10,071    11,719 
10,071    11,719 
Current assets      
Debtors 4 20,302    22,876 
Cash at bank and in hand 59,746    38,418 
80,048    61,294 
Creditors: amount falling due within one year 5 (30,597)   (40,096)
Net current assets 49,451    21,198 
 
Total assets less current liabilities 59,522    32,917 
Provisions for liabilities 6 (1,914)   (1,302)
Net assets 57,608    31,615 
 

Capital and reserves
     
Called up share capital 7 125    100 
Share premium account 8 11,975   
Profit and loss account 45,508    31,515 
Shareholder's funds 57,608    31,615 
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 08 April 2024 and were signed by:


-------------------------------
D M Gaskell
Director
2
Company information
Optimal Fire & Security Limited is a private company limited by shares incorporated in England and Wales. The registered office is Elizabeth House, 13-19 London Road, Newbury, Berkshire, United Kingdom, RG14 1JL.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 33.33% Straight Line
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2022 10,422    15,550    526    2,388    28,886 
Additions       1,167    1,167 
Disposals       (300)   (300)
At 31 August 2023 10,422    15,550    526    3,255    29,753 
Depreciation
At 01 September 2022 5,498    9,968    83    1,618    17,167 
Charge for year 738    1,396    66    615    2,815 
On disposals       (300)   (300)
At 31 August 2023 6,236    11,364    149    1,933    19,682 
Net book values
Closing balance as at 31 August 2023 4,186    4,186    377    1,322    10,071 
Opening balance as at 01 September 2022 4,924    5,582    443    770    11,719 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 17,175    20,520 
Other Debtors 3,127    2,356 
20,302    22,876 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 8,048    7,336 
Corporation Tax 12,966    9,424 
VAT Liability 7,708    4,270 
Other Creditors 1,875    19,066 
30,597    40,096 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,914    1,302 
1,914    1,302 

7.

Share Capital

Authorised
100 ordinary shares of £1.00 each
25 ordinary class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 ordinary shares of £1.00 each 100    100 
25 ordinary class A shares of £1.00 each 25   
125    100 

8.

Share premium account

2023
£
  2022
£
Equity Share Premium - New Issue 11,975   
11,975   

3