2023-04-012024-03-312024-03-31false05995212OPTIMA PROJECTS LTD2024-12-02iso4217:GBPxbrli:pure059952122023-04-01059952122024-03-31059952122023-04-012024-03-31059952122022-04-01059952122023-03-31059952122022-04-012023-03-3105995212bus:SmallEntities2023-04-012024-03-3105995212bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3105995212bus:FullAccounts2023-04-012024-03-3105995212bus:PrivateLimitedCompanyLtd2023-04-012024-03-3105995212core:WithinOneYear2024-03-3105995212core:AfterOneYear2024-03-3105995212core:WithinOneYear2023-03-3105995212core:AfterOneYear2023-03-3105995212core:ShareCapital2024-03-3105995212core:SharePremium2024-03-3105995212core:RevaluationReserve2024-03-3105995212core:OtherReservesSubtotal2024-03-3105995212core:RetainedEarningsAccumulatedLosses2024-03-3105995212core:ShareCapital2023-03-3105995212core:SharePremium2023-03-3105995212core:RevaluationReserve2023-03-3105995212core:OtherReservesSubtotal2023-03-3105995212core:RetainedEarningsAccumulatedLosses2023-03-3105995212core:LandBuildings2024-03-3105995212core:PlantMachinery2024-03-3105995212core:Vehicles2024-03-3105995212core:FurnitureFittings2024-03-3105995212core:OfficeEquipment2024-03-3105995212core:NetGoodwill2024-03-3105995212core:IntangibleAssetsOtherThanGoodwill2024-03-3105995212core:ListedExchangeTraded2024-03-3105995212core:UnlistedNon-exchangeTraded2024-03-3105995212core:LandBuildings2023-03-3105995212core:PlantMachinery2023-03-3105995212core:Vehicles2023-03-3105995212core:FurnitureFittings2023-03-3105995212core:OfficeEquipment2023-03-3105995212core:NetGoodwill2023-03-3105995212core:IntangibleAssetsOtherThanGoodwill2023-03-3105995212core:ListedExchangeTraded2023-03-3105995212core:UnlistedNon-exchangeTraded2023-03-3105995212core:LandBuildings2023-04-012024-03-3105995212core:PlantMachinery2023-04-012024-03-3105995212core:Vehicles2023-04-012024-03-3105995212core:FurnitureFittings2023-04-012024-03-3105995212core:OfficeEquipment2023-04-012024-03-3105995212core:NetGoodwill2023-04-012024-03-3105995212core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105995212core:ListedExchangeTraded2023-04-012024-03-3105995212core:UnlistedNon-exchangeTraded2023-04-012024-03-3105995212core:MoreThanFiveYears2023-04-012024-03-3105995212core:Non-currentFinancialInstruments2024-03-3105995212core:Non-currentFinancialInstruments2023-03-3105995212dpl:CostSales2023-04-012024-03-3105995212dpl:DistributionCosts2023-04-012024-03-3105995212core:LandBuildings2023-04-012024-03-3105995212core:PlantMachinery2023-04-012024-03-3105995212core:Vehicles2023-04-012024-03-3105995212core:FurnitureFittings2023-04-012024-03-3105995212core:OfficeEquipment2023-04-012024-03-3105995212dpl:AdministrativeExpenses2023-04-012024-03-3105995212core:NetGoodwill2023-04-012024-03-3105995212core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105995212dpl:GroupUndertakings2023-04-012024-03-3105995212dpl:ParticipatingInterests2023-04-012024-03-3105995212dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3105995212core:ListedExchangeTraded2023-04-012024-03-3105995212dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3105995212core:UnlistedNon-exchangeTraded2023-04-012024-03-3105995212dpl:CostSales2022-04-012023-03-3105995212dpl:DistributionCosts2022-04-012023-03-3105995212core:LandBuildings2022-04-012023-03-3105995212core:PlantMachinery2022-04-012023-03-3105995212core:Vehicles2022-04-012023-03-3105995212core:FurnitureFittings2022-04-012023-03-3105995212core:OfficeEquipment2022-04-012023-03-3105995212dpl:AdministrativeExpenses2022-04-012023-03-3105995212core:NetGoodwill2022-04-012023-03-3105995212core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105995212dpl:GroupUndertakings2022-04-012023-03-3105995212dpl:ParticipatingInterests2022-04-012023-03-3105995212dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3105995212core:ListedExchangeTraded2022-04-012023-03-3105995212dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3105995212core:UnlistedNon-exchangeTraded2022-04-012023-03-3105995212core:NetGoodwill2024-03-3105995212core:IntangibleAssetsOtherThanGoodwill2024-03-3105995212core:LandBuildings2024-03-3105995212core:PlantMachinery2024-03-3105995212core:Vehicles2024-03-3105995212core:FurnitureFittings2024-03-3105995212core:OfficeEquipment2024-03-3105995212core:AfterOneYear2024-03-3105995212core:WithinOneYear2024-03-3105995212core:ListedExchangeTraded2024-03-3105995212core:UnlistedNon-exchangeTraded2024-03-3105995212core:ShareCapital2024-03-3105995212core:SharePremium2024-03-3105995212core:RevaluationReserve2024-03-3105995212core:OtherReservesSubtotal2024-03-3105995212core:RetainedEarningsAccumulatedLosses2024-03-3105995212core:NetGoodwill2023-03-3105995212core:IntangibleAssetsOtherThanGoodwill2023-03-3105995212core:LandBuildings2023-03-3105995212core:PlantMachinery2023-03-3105995212core:Vehicles2023-03-3105995212core:FurnitureFittings2023-03-3105995212core:OfficeEquipment2023-03-3105995212core:AfterOneYear2023-03-3105995212core:WithinOneYear2023-03-3105995212core:ListedExchange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OPTIMA PROJECTS LTD

Registered Number
05995212
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

OPTIMA PROJECTS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

C E W KENDALL
D C KENDALL

Company Secretary

C E W KENDALL

Registered Address

Larkspur
Old Orchards
Lymington
SO41 3AF

Registered Number

05995212 (England and Wales)
OPTIMA PROJECTS LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,5392,951
Tangible assets431,61542,175
34,15445,126
Current assets
Debtors511,66711,324
Cash at bank and on hand15,64110,026
27,30821,350
Creditors amounts falling due within one year6(109,985)(77,669)
Net current assets (liabilities)(82,677)(56,319)
Total assets less current liabilities(48,523)(11,193)
Creditors amounts falling due after one year7(12,500)(21,667)
Provisions for liabilities8(6,007)(8,013)
Net assets(67,030)(40,873)
Capital and reserves
Called up share capital100100
Profit and loss account(67,130)(40,973)
Shareholders' funds(67,030)(40,873)
The financial statements were approved and authorised for issue by the Board of Directors on 2 December 2024, and are signed on its behalf by:
C E W KENDALL
Director
D C KENDALL
Director

Registered Company No. 05995212
OPTIMA PROJECTS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. The company is relying on the support of the Directors.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Software - 33.33% straight line Patents - 10% straight line & 20% straight line
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 2311,28911,289
At 31 March 2411,28911,289
Amortisation and impairment
At 01 April 238,3388,338
Charge for year412412
At 31 March 248,7508,750
Net book value
At 31 March 242,5392,539
At 31 March 232,9512,951
4.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 2311,62966,39678,025
At 31 March 2411,62966,39678,025
Depreciation and impairment
At 01 April 236,65829,19235,850
Charge for year1,2599,30110,560
At 31 March 247,91738,49346,410
Net book value
At 31 March 243,71227,90331,615
At 31 March 234,97137,20442,175
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,320-
Other debtors2,9953,885
Prepayments and accrued income1,3527,439
Total11,66711,324
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables78414,579
Bank borrowings and overdrafts10,00010,000
Taxation and social security6,680315
Other creditors90,55952,192
Accrued liabilities and deferred income1,962583
Total109,98577,669
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts12,50021,667
Total12,50021,667
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,0078,013
Total6,0078,013
9.Related party transactions
Included within other creditors at the balance sheet date is £90,559 (2023 - £52,191) due to the company's directors. The balance has arisen in respect of amounts loaned to the company. The loans are repayable on demand and no interest is accruing.