Registered number
10723661
Optimum Air Conditioning Ltd
Filleted Accounts
30 April 2024
Optimum Air Conditioning Ltd
Registered number: 10723661
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,078 18,725
Current assets
Debtors 4 55,599 74,696
Cash at bank and in hand 22,499 76,814
78,098 151,510
Creditors: amounts falling due within one year 5 (33,891) (49,089)
Net current assets 44,207 102,421
Total assets less current liabilities 63,285 121,146
Creditors: amounts falling due after more than one year 6 (10,634) (14,409)
Provisions for liabilities (3,625) (3,558)
Net assets 49,026 103,179
Capital and reserves
Called up share capital 1 1
Profit and loss account 49,025 103,178
Shareholder's funds 49,026 103,179
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Danny Lindstrom
Director
Approved by the board on 30 January 2025
Optimum Air Conditioning Ltd
Notes to the Accounts
for the year ended 30 April 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:
Tools/Equipment 25% WDV
Computer Equipment 33.33% SLM
Offie Equipment 15% WDV
Motor vehicles 25% WDV
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 8,089 32,975 41,064
Additions 5,956 - 5,956
At 30 April 2024 14,045 32,975 47,020
Depreciation
At 1 May 2023 4,955 17,384 22,339
Charge for the year 1,705 3,898 5,603
At 30 April 2024 6,660 21,282 27,942
Net book value
At 30 April 2024 7,385 11,693 19,078
At 30 April 2023 3,134 15,591 18,725
4 Debtors 2024 2023
£ £
Trade debtors 30,940 60,764
Other debtors 24,659 13,932
55,599 74,696
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,659 4,124
Trade creditors - 10,570
Taxation and social security costs 29,382 24,479
Other creditors 850 9,916
33,891 49,089
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,634 14,409
7 Other information
Optimum Air Conditioning Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Smugglers Walk,
Greenhithe,
United Kingdom,
DA9 9QR
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