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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
Page
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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
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Optimum Properties Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,088 
4,411 
Investment property
455,000 
455,000 
458,088 
459,411 
Current assets
Debtors
529 
529 
Cash at bank and in hand
11,765 
7,213 
12,294 
7,742 
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)
Net assets
7,807 
2,518 
Capital and reserves
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
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Optimum Properties Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Depreciation
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 
Net book value
At 31 January 2024
3,088 
- 
3,088 
At 31 January 2023
4,411 
- 
4,411 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
455,000 
At 31 January 2024
455,000 
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Optimum Properties Limited Notes to the Accounts for the year ended 31 January 2024
6
Debtors
2024 
2023 
£ 
£ 
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 
Other creditors
77 
76 
Loans from directors
122,672 
124,732 
Accruals
1,818 
1,818 
132,729 
134,788 
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 
329,846 
329,847 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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