Company Registration No. 10592502 (England and Wales)
Optimum Properties Limited
Unaudited accounts
for the year ended 31 January 2024
Optimum Properties Limited
Unaudited accounts
Contents
Optimum Properties Limited
Company Information
for the year ended 31 January 2024
Directors
A Kearns
E Kearns
Company Number
10592502 (England and Wales)
Registered Office
22 Grenfell Road
Manchester
Lancashire
M20 6TQ
England
Optimum Properties Limited
Statement of financial position
as at 31 January 2024
Tangible assets
3,088
4,411
Investment property
455,000
455,000
Cash at bank and in hand
11,765
7,213
Creditors: amounts falling due within one year
(132,729)
(134,788)
Net current liabilities
(120,435)
(127,046)
Total assets less current liabilities
337,653
332,365
Creditors: amounts falling due after more than one year
(329,846)
(329,847)
Called up share capital
2
2
Fair value reserve
73,574
73,574
Profit and loss account
(65,769)
(71,058)
Shareholders' funds
7,807
2,518
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
A Kearns
Director
Company Registration No. 10592502
Optimum Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
Optimum Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10592502. The registered office is 22 Grenfell Road, Manchester, Lancashire, M20 6TQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% straight line
Computer equipment
3 years straight line
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
13,231
646
13,877
At 31 January 2024
13,231
646
13,877
At 1 February 2023
8,820
646
9,466
Charge for the year
1,323
-
1,323
At 31 January 2024
10,143
646
10,789
At 31 January 2024
3,088
-
3,088
At 31 January 2023
4,411
-
4,411
Fair value at 1 February 2023
455,000
At 31 January 2024
455,000
Optimum Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Accrued income and prepayments
529
529
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,000
1,000
Obligations under finance leases and hire purchase contracts
2,000
2,000
Taxes and social security
5,162
5,162
Loans from directors
122,672
124,732
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
314,528
314,528
Obligations under finance leases and hire purchase contracts
2,485
2,485
Trade creditors
12,833
12,834
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).