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OPTIMAL LABS LIMITED

Registered Number
10471041
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

OPTIMAL LABS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

David Hunter
Diana Krantz

Company Secretary

Lighthouse Finance

Registered Address

2 Brunel Way
Optimal Labs Limited C/O Plus X Innovation
Slough
SL1 1FQ

Registered Number

10471041 (England and Wales)
OPTIMAL LABS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,103,7092,103,709
Tangible assets41,3783,680
Investments5211,676178,164
2,316,7632,285,553
Current assets
Debtors610,96916,831
Cash at bank and on hand1,306,695398,371
1,317,664415,202
Creditors amounts falling due within one year7(407,896)(53,438)
Net current assets (liabilities)909,768361,764
Total assets less current liabilities3,226,5312,647,317
Creditors amounts falling due after one year8(630,643)(351,555)
Net assets2,595,8882,295,762
Capital and reserves
Called up share capital302137
Share premium4,534,8963,277,095
Profit and loss account(1,939,310)(981,470)
Shareholders' funds2,595,8882,295,762
The financial statements were approved and authorised for issue by the Board of Directors on 30 January 2025, and are signed on its behalf by:
David Hunter
Director
Diana Krantz
Director

Registered Company No. 10471041
OPTIMAL LABS LIMITED
Notes to the Financial Statements
for the year ended 30 April 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
These financial statements have been prepared on a going concern basis in accordance with FRS 102 Section 1A Small Entities – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared on the historical cost convention and incorporate the principal accounting policies set out below. The financial statements are presented in Great British Pounds Sterling, which is the functional currency of the entity.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary course of business. The directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the financial statements have been prepared on a going concern basis. The directors have satisfied themselves that the company is in a sound financial position and that it has access to sufficient borrowing facilities to meet its foreseeable cash requirements. The directors are not aware of any new material changes that may adversely impact the company. The directors are also not aware of any material non-compliance with statutory or regulatory requirements or of any pending changes to legislation which may affect the company.
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Share-based payments
The company provides share-based payment arrangements to certain employees. Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straightline basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest. Where equity-settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to date of vesting. Where a modification is not beneficial to the employee there is no change to the charge for share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvested amount is recognised immediately in the income statement.
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
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Tangible fixed assets and depreciation
Tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Depreciation is measured at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the straight-line basis as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Office Equipment3
Investments
Investments in subsidiary undertakings are recognised at fair value based on a revaluation carried out when an indication of material impairment or gain is identified.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
Government grants or assistance
Income from government grants are recognised in the statement of profit and loss in the year to which it relates. The grants are recognised for the periods to which they relate where no other discernible method exists that is indicative of the use of the grant funding.
2.Average number of employees
The average number of employees, including directors, during the year were 13 (2022: 12)

20242023
Average number of employees during the year1313
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 May 232,103,7092,103,709
At 30 April 242,103,7092,103,709
Net book value
At 30 April 242,103,7092,103,709
At 30 April 232,103,7092,103,709
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 May 232783,4023,680
At 30 April 242783,4023,680
Depreciation and impairment
Charge for year2372,0652,302
At 30 April 242372,0652,302
Net book value
At 30 April 24411,3371,378
At 30 April 232783,4023,680
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 May 23178,164178,164
Additions33,51233,512
At 30 April 24211,676211,676
Net book value
At 30 April 24211,676211,676
At 30 April 23178,164178,164

Notes

1Investments in group undertakings and participating interests
6.Debtors: amounts due within one year

2024

2023

££
Other debtors10,96914,559
Prepayments and accrued income-2,272
Total10,96916,831
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.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables102,5919,569
Taxation and social security103,14829,391
Other creditors154,33114,478
Accrued liabilities and deferred income47,826-
Total407,89653,438
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.
8.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties448,484172,518
Other creditors182,159179,037
Total630,643351,555