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Registered Number: 11622996
England and Wales

 

 

 

OPTIMUS WELDING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Report to the directors on the preparation of the unaudited statutory accounts of OPTIMUS WELDING LTD for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OPTIMUS WELDING LTD for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of OPTIMUS WELDING LTD, as a body, in accordance with the terms of our engagement letter dated 31 July 2024 Our work has been undertaken solely to prepare for your approval the accounts of OPTIMUS WELDING LTD and state those matters that we have agreed to state to the Board of Directors of OPTIMUS WELDING LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OPTIMUS WELDING LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OPTIMUS WELDING LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of OPTIMUS WELDING LTD. You consider that OPTIMUS WELDING LTD is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of OPTIMUS WELDING LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 October 2023



....................................................
AZ Accounting Services Ltd
40 Andrew Close,
Ilford
IG6 2UG
31 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4   305 
  305 
Current assets      
Debtors 12,160    4,972 
Cash at bank and in hand 115    13,629 
12,275    18,601 
Creditors: amount falling due within one year (12,257)   (18,791)
Net current assets 18    (190)
 
Total assets less current liabilities 18    115 
Provisions for liabilities   (58)
Net assets 18    57 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 16    55 
Shareholders' funds 18    57 
 


For the year ended 31 October 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 31 July 2024 and were signed by:


-------------------------------
Artur Ivanyan
Director
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General Information
OPTIMUS WELDING LTD is a private company, limited by shares, registered in England and Wales, registration number 11622996, registration address International House, 24 Holborn Viaduct, London, EC1A 2BN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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 4 Straight Line
Motor Vehicles 2 Straight Line
Computer Equipment 2 Straight Line
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.

Staff Costs

2023
£
  2022
£
Wages and salaries 17,781    10,345 
Other staff costs 1,467   
19,248    10,345 
 
Average number of employees during the year Number   Number
Administration 1   
Production 1    1 
 

3.

Average number of employees

Average number of employees during the year was 2 (2022 : 1).
4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 November 2022 1,813    2,500    1,074    5,387 
Additions      
Disposals      
At 31 October 2023 1,813    2,500    1,074    5,387 
Depreciation
At 01 November 2022 1,550    2,500    1,032    5,082 
Charge for year 263      42    305 
On disposals      
At 31 October 2023 1,813    2,500    1,074    5,387 
Net book values
Closing balance as at 31 October 2023      
Opening balance as at 01 November 2022 263      42    305 


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