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REGISTERED NUMBER: 03487345 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OPTIMUM OILS LIMITED

OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OPTIMUM OILS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: J A Bayliss
M R Hollingsworth
C J Thrussell
T J Stoker





SECRETARY: Kingscott Dix (Cheltenham) Limited





REGISTERED OFFICE: Unit C1 Rhombus Business Park
Sapphire Way
Norwich
NR6 6NN





REGISTERED NUMBER: 03487345 (England and Wales)





ACCOUNTANTS: Kingscott Dix (Cheltenham) Limited
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,171 12,504
Investments 5 86,090 86,007
95,261 98,511

CURRENT ASSETS
Stocks 126,378 223,045
Debtors 6 4,152,356 3,077,172
Cash at bank 397,758 259,249
4,676,492 3,559,466
CREDITORS
Amounts falling due within one year 7 (2,464,323 ) (1,792,841 )
NET CURRENT ASSETS 2,212,169 1,766,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,307,430

1,865,136

PROVISIONS FOR LIABILITIES 9 (2,293 ) (3,126 )
NET ASSETS 2,305,137 1,862,010

CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Retained earnings 2,285,137 1,842,010
SHAREHOLDERS' FUNDS 2,305,137 1,862,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)

BALANCE SHEET - continued
31 March 2024


The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





C J Thrussell - Director


OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Optimum Oils Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on delivery of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost, 25% on reducing balance and 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 34,440
DEPRECIATION
At 1 April 2023 21,936
Charge for year 3,333
At 31 March 2024 25,269
NET BOOK VALUE
At 31 March 2024 9,171
At 31 March 2023 12,504

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 86,007
Additions 83
At 31 March 2024 86,090
NET BOOK VALUE
At 31 March 2024 86,090
At 31 March 2023 86,007

OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS - continued

The company owns 100% of the share capital of John Clayden Lubricants Limited, a business incorporated in the UK under reference 10648180. This subsidiary is currently trading.

The company owns 100% of the share capital of Optimum Oils & Equipment (Ireland) Limited, a business incorporated in the Republic of Ireland under reference 754392. This subsidiary is currently trading.

The company owns 100% of the share capital of Optimum Industrial Limited, a business incorporated in the UK under reference 05867396. This subsidiary is currently dormant.

The company owns 100% of the share capital of Alliance Oil Company Limited, a business incorporated in the UK under reference 10428439. This subsidiary is currently dormant.

The company owns 100% of the share capital of Lubysil Limited, a business incorporated in the UK under reference 10649787. This subsidiary is currently dormant.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,439,202 2,625,390
Other debtors 1,713,154 451,782
4,152,356 3,077,172

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,362,936 1,129,853
Taxation and social security 512,240 461,906
Other creditors 589,147 201,082
2,464,323 1,792,841

8. SECURED DEBTS

The company has in place an invoice discounting facility which is secured by a fixed and floating charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,293 3,126

Deferred
tax
£   
Balance at 1 April 2023 3,126
Credit to Profit and loss account during year (833 )
Balance at 31 March 2024 2,293

OPTIMUM OILS LIMITED (REGISTERED NUMBER: 03487345)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary shares £1 20,000 20,000

The company's ordinary share capital is comprised of 19,996 Ordinary shares, 1 A Ordinary share, 1 B Ordinary share, 1 C Ordinary share, and 1 D Ordinary share. All Ordinary shares have equal dividend, voting and capital rights.

11. RELATED PARTY DISCLOSURES

During the year all shareholders received dividends of £36,000 (2023 - £32,000). One director is also a shareholder of the company.

The company has taken advantage of the exemption under FRS 102, not to disclose related party transactions with fellow group companies.

12. ULTIMATE CONTROLLING PARTY

No individual or entity has overall control of the company.