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Optima Low Vision Services Limited
Registered Number:03928379
For the year ended 30 April 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 30 April 2024
Optima Low Vision Services Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
03928379
As at 30 April 2024
Optima Low Vision Services Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
10,469
6,474
3
10,469
6,474
Current assets
Inventories
187,051
174,753
4
Trade and other receivables
60,619
91,088
5
40,063
Cash and cash equivalents
30,930
296,771
287,733
Trade and other payables: amounts falling due within one
year
(169,271)
(128,777)
6
118,462
167,994
Net current assets
Total assets less current liabilities
178,463
124,936
Trade and other payables: amounts falling due after more
than one year
(21,294)
(51,572)
7
(593)
(565)
Provisions for liabilities
126,298
Net assets
103,077
Capital and reserves
Called up share capital
78
78
Share premium account
23,598
23,598
Retained earnings
102,592
79,371
Other reserves
30
30
126,298
103,077
Shareholders' funds
For the year ended 30 April 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
03928379
For the year ended 30 April 2024
Optima Low Vision Services Limited
Statement of Financial Position Continued
Mr Sean Nicholas Collins Director
These financial statements were approved and authorised for issue by the Board on 03 July 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 30 April 2024
Optima Low Vision Services Limited
Notes to the Financial Statements
Statutory Information
Optima Low Vision Services Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03928379.
Registered address:
Dartside
Ford Road
Totnes
Devon
TQ9 5LQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment
Property, plant and equipment, 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:
Land and Buildings
10% Straight line
25% Reducing balance
Computer Equipment
20% Reducing balance
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 30 April 2024
Optima Low Vision Services Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 May 2023
75,000
At 30 April 2024
75,000
Amortisation
At 01 May 2023
75,000
At 30 April 2024
75,000
Net book value
At 30 April 2024
-
At 30 April 2023
-
Intangible Assets are amortised over 12 years from their orginal cost date.
3. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Land and
Buildings
£
£
£
£
Cost or
valuation
At 01 May 2023
149,258
49,186
34,694
65,378
6,656
6,656
-
-
Additions
At 30 April 2024
65,378
34,694
55,842
155,914
Provision for depreciation and impairment
At 01 May 2023
142,784
46,821
33,773
62,190
Charge for year
2,661
2,121
190
350
At 30 April 2024
145,445
48,942
33,963
62,540
At 30 April 2024
Net book value
2,838
731
6,900
10,469
At 30 April 2023
3,188
921
2,365
6,474
4. Inventories
2023
2024
£
£
Stocks
174,753
187,051
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7
For the year ended 30 April 2024
Optima Low Vision Services Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2023
2024
£
£
Trade debtors
54,971
56,491
Other debtors
36,117
4,128
60,619
91,088
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
8,333
-
Bank loans and overdraft
10,000
10,000
Trade creditors
35,945
81,995
Taxation and social security
18,773
13,116
Other creditors
55,726
64,160
128,777
169,271
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
11,294
21,294
Bank loans and overdraft (secured)
40,278
-
51,572
21,294
8. Related party transactions
The company was under the control of Mr S Collins during this year.
9. Average number of persons employed
During the year the average number of employees was 6 (2023 : 6)
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