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REGISTERED NUMBER: 10907876 (England and Wales)





FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

OPTIMAX ACCESS LTD

OPTIMAX ACCESS LTD (REGISTERED NUMBER: 10907876)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OPTIMAX ACCESS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Dr M Javanbakht
B K Haeussler





REGISTERED OFFICE: Suite 30 Kenneth Dibben House
Enterprise Road
Southampton Science Park, Chilworth
Southampton
Hampshire
SO14 3JW





REGISTERED NUMBER: 10907876 (England and Wales)





AUDITORS: Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

OPTIMAX ACCESS LTD (REGISTERED NUMBER: 10907876)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,484 62,951

CURRENT ASSETS
Stocks 51,018 14,456
Debtors 5 122,066 173,334
Cash at bank 318,746 125,108
491,830 312,898
CREDITORS
Amounts falling due within one year 6 264,846 181,309
NET CURRENT ASSETS 226,984 131,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

280,468

194,540

CREDITORS
Amounts falling due after more than one
year

7

51,482

61,552
NET ASSETS 228,986 132,988

CAPITAL AND RESERVES
Called up share capital 180 180
Retained earnings 228,806 132,808
228,986 132,988

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st August 2024 and were signed on its behalf by:





Dr M Javanbakht - Director


OPTIMAX ACCESS LTD (REGISTERED NUMBER: 10907876)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Optimax Access Ltd 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.

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.

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

Turnover is adjusted for amounts invoiced in advance of the work being undertaken.

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 etc - 25% on cost

Stocks
Work in progress is recognised on the basis of the value of work undertaken at the Balance Sheet date, but not yet invoiced.

Financial instruments
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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


OPTIMAX ACCESS LTD (REGISTERED NUMBER: 10907876)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 92,719
Additions 9,813
At 31st December 2023 102,532
DEPRECIATION
At 1st January 2023 29,768
Charge for year 19,280
At 31st December 2023 49,048
NET BOOK VALUE
At 31st December 2023 53,484
At 31st December 2022 62,951

OPTIMAX ACCESS LTD (REGISTERED NUMBER: 10907876)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 102,947 164,746
Other debtors 19,119 8,588
122,066 173,334

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 10,070 10,070
Trade creditors 9,656 14,100
Amounts owed to group undertakings 1,509 84,993
Taxation and social security 142,344 24,264
Other creditors 101,267 47,882
264,846 181,309

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 51,482 61,552

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 61,552 71,622

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Barr FCA (Senior Statutory Auditor)
for and on behalf of Martin and Company Audit Limited

10. ULTIMATE CONTROLLING PARTY

The company's ultimate holding company is IGES Insitut GmbH. Registered office: Friedrichstrasse 180 10117
Berlin Germany.