Registered number
11768379
OPTA SERVICE LTD
Filleted Accounts
31 January 2024
OPTA SERVICE LTD
Registered number: 11768379
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,612 65,111
Current assets
Debtors 4 302,526 465,861
Cash at bank and in hand 276,844 475,267
579,370 941,128
Creditors: amounts falling due within one year 5 (75,804) (305,205)
Net current assets 503,566 635,923
Net assets 553,178 701,034
Capital and reserves
Called up share capital 100 100
Profit and loss account 553,078 700,934
Shareholders' funds 553,178 701,034
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Konrad Tomasz Kamola
Director
Approved by the board on 9 October 2024
OPTA SERVICE LTD
Notes to the Accounts
for the year ended 31 January 2024
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 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer over 5 years
Van over 5 years
Office equipment over 5 years
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Office equipment Computer VAN Total
£ £ £ £
Cost
At 1 February 2023 22,463 15,529 53,900 91,892
Additions 2,987 - - 2,987
At 31 January 2024 25,450 15,529 53,900 94,879
Depreciation
At 1 February 2023 5,252 7,364 14,165 26,781
Charge for the year 4,992 2,714 10,780 18,486
At 31 January 2024 10,244 10,078 24,945 45,267
Net book value
At 31 January 2024 15,206 5,451 28,955 49,612
At 31 January 2023 17,211 8,165 39,735 65,111
4 Debtors 2024 2023
£ £
Trade debtors 242,104 436,065
Rent deposit 7,559 7,309
Other debtors 52,863 22,487
302,526 465,861
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 36,445 23,985
Taxation and social security costs 11,335 140,607
VAT liabilities 18,020 129,035
Pension liabilities 2,065 2,310
Director loan account 145 3,837
Salary payable/ Net pay 5,766 5,431
Credit card 2,028 -
75,804 305,205
6 Other information
OPTA SERVICE LTD is a private company limited by shares and incorporated in England. Its registered office is:
124 Tower View
Croydon
England
CR0 7PW
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