Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 09954166 Jamie Halliday Kelly Morton Lesley Troup iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09954166 2023-01-31 09954166 2024-01-31 09954166 2023-02-01 2024-01-31 09954166 frs-core:CurrentFinancialInstruments 2024-01-31 09954166 frs-core:FurnitureFittings 2023-02-01 2024-01-31 09954166 frs-core:PlantMachinery 2024-01-31 09954166 frs-core:PlantMachinery 2023-02-01 2024-01-31 09954166 frs-core:PlantMachinery 2023-01-31 09954166 frs-core:ShareCapital 2024-01-31 09954166 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09954166 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09954166 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09954166 frs-bus:SmallEntities 2023-02-01 2024-01-31 09954166 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09954166 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09954166 frs-bus:Director1 2023-02-01 2024-01-31 09954166 frs-bus:Director2 2023-02-01 2024-01-31 09954166 frs-bus:Director3 2023-02-01 2024-01-31 09954166 frs-countries:EnglandWales 2023-02-01 2024-01-31 09954166 2022-01-31 09954166 2023-01-31 09954166 2022-02-01 2023-01-31 09954166 frs-core:CurrentFinancialInstruments 2023-01-31 09954166 frs-core:ShareCapital 2023-01-31 09954166 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 09954166
Optimal Orthotics Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 09954166
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 551 823
551 823
CURRENT ASSETS
Debtors 5 80,000 80,000
Cash at bank and in hand 134,854 93,281
214,854 173,281
Creditors: Amounts Falling Due Within One Year 6 (44,756 ) (26,051 )
NET CURRENT ASSETS (LIABILITIES) 170,098 147,230
TOTAL ASSETS LESS CURRENT LIABILITIES 170,649 148,053
PROVISIONS FOR LIABILITIES
Deferred Taxation (138 ) (156 )
NET ASSETS 170,511 147,897
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 170,411 147,797
SHAREHOLDERS' FUNDS 170,511 147,897
Page 1
Page 2
For the year ending 31 January 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Jamie Halliday
Director
15/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Optimal Orthotics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09954166 . The registered office is 33 Westfield Road, London, W13 9JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Fixtures & Fittings
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 2,455
As at 31 January 2024 2,455
Depreciation
As at 1 February 2023 1,632
Provided during the period 272
As at 31 January 2024 1,904
Net Book Value
As at 31 January 2024 551
As at 1 February 2023 823
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 80,000 80,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 25,544 18,877
Directors' loan accounts 19,212 7,174
44,756 26,051
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4