Registered number
13732186
OPTIM RESOURCE LTD
Filleted Accounts
30 November 2023
OPTIM RESOURCE LTD
Registered number: 13732186
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 43,096 79,671
Cash at bank and in hand 51,385 13,750
94,481 93,421
Creditors: amounts falling due within one year 4 (46,495) (58,021)
Net current assets 47,986 35,400
Net assets 47,986 35,400
Capital and reserves
Called up share capital 10 10
Profit and loss account 47,976 35,390
Shareholder's funds 47,986 35,400
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MrP A Burke
Director
Approved by the board on 28 August 2024
OPTIM RESOURCE LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors and prepayments 43,096 79,671
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors and accruals 9,934 20,107
Corporation tax 29,130 22,405
Taxation and social security costs 2,737 7,285
Other creditors - director's loan account 4,694 8,224
46,495 58,021
5 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
6 Contingent liabilities
There were no contingent liabilities in existence at the year end.
7 Controlling party
The company is controlled by it's director, Mr P A Burke, who owns 60% of the issued ordinary share capital.
8 Other information
OPTIM RESOURCE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Oakland
78b High Elm Road
Hale Barns
Cheshire
WA15 0HX
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