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REGISTERED NUMBER: 04688143 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 30th April 2024

for

Optimum Property Developments Ltd

Optimum Property Developments Ltd (Registered number: 04688143)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Optimum Property Developments Ltd

Company Information
for the Year Ended 30th April 2024







DIRECTOR: J C Sweeting



REGISTERED OFFICE: Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



REGISTERED NUMBER: 04688143 (England and Wales)



ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



BANKERS: Lloyds TSB
21 Station Avenue
Caterham
Surrey
CR3 6YT

Optimum Property Developments Ltd (Registered number: 04688143)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 451 5,904
Investment property 5 2,118,907 1,499,721
2,119,358 1,505,625

CURRENT ASSETS
Debtors 6 26,072 39,746
Cash at bank and in hand 2,506 12,351
28,578 52,097
CREDITORS
Amounts falling due within one year 7 1,234,746 631,010
NET CURRENT LIABILITIES (1,206,168 ) (578,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

913,190

926,712

CREDITORS
Amounts falling due after more than one
year

8

257,789

262,105
NET ASSETS 655,401 664,607

Optimum Property Developments Ltd (Registered number: 04688143)

Balance Sheet - continued
30th April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 655,399 664,605
SHAREHOLDERS' FUNDS 655,401 664,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th January 2025 and were signed by:





J C Sweeting - Director


Optimum Property Developments Ltd (Registered number: 04688143)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Optimum Property Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Optimum Property Developments Ltd (Registered number: 04688143)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2023 9,000 43,306 13,995 9,406 75,707
Additions 602 - - - 602
Disposals - - (13,995 ) - (13,995 )
At 30th April 2024 9,602 43,306 - 9,406 62,314
DEPRECIATION
At 1st May 2023 9,000 43,306 8,091 9,406 69,803
Charge for year 151 - - - 151
Eliminated on disposal - - (8,091 ) - (8,091 )
At 30th April 2024 9,151 43,306 - 9,406 61,863
NET BOOK VALUE
At 30th April 2024 451 - - - 451
At 30th April 2023 - - 5,904 - 5,904

Optimum Property Developments Ltd (Registered number: 04688143)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023 1,499,721
Additions 619,186
At 30th April 2024 2,118,907
NET BOOK VALUE
At 30th April 2024 2,118,907
At 30th April 2023 1,499,721

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2022 (3,532 )
Valuation in 2019 (65,000 )
Cost 2,187,439
2,118,907

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,187,439 1,568,253

Investment property was valued on an open market basis on 30th April 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55 675
Amounts owed by participating interests 7,670 19,343
Amounts owed by associates 590 480
Other debtors 17,757 19,248
26,072 39,746

Optimum Property Developments Ltd (Registered number: 04688143)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,333 4,000
Trade creditors 7,042 15,862
Taxation and social security 663 -
Other creditors 1,222,708 611,148
1,234,746 631,010

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 4,001 8,333
Other creditors 253,788 253,772
257,789 262,105

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 253,788 253,772

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 253,788 253,776

Mortgage is secured on Freehold Property.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J C Sweeting.