Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC400776 Mr Stewart Henderson Mr Graeme Henderson Mr Alasdair Stewart Stewart Henderson false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC400776 2023-06-30 SC400776 2024-06-30 SC400776 2023-07-01 2024-06-30 SC400776 frs-core:CurrentFinancialInstruments 2024-06-30 SC400776 frs-core:Non-currentFinancialInstruments 2024-06-30 SC400776 frs-core:BetweenOneFiveYears 2024-06-30 SC400776 frs-core:ComputerEquipment 2024-06-30 SC400776 frs-core:ComputerEquipment 2023-07-01 2024-06-30 SC400776 frs-core:ComputerEquipment 2023-06-30 SC400776 frs-core:FurnitureFittings 2024-06-30 SC400776 frs-core:FurnitureFittings 2023-07-01 2024-06-30 SC400776 frs-core:FurnitureFittings 2023-06-30 SC400776 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 SC400776 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC400776 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 SC400776 frs-core:MotorVehicles 2024-06-30 SC400776 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC400776 frs-core:MotorVehicles 2023-06-30 SC400776 frs-core:PlantMachinery 2024-06-30 SC400776 frs-core:PlantMachinery 2023-07-01 2024-06-30 SC400776 frs-core:PlantMachinery 2023-06-30 SC400776 frs-core:WithinOneYear 2024-06-30 SC400776 frs-core:ShareCapital 2024-06-30 SC400776 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC400776 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC400776 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC400776 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC400776 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC400776 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC400776 1 2023-07-01 2024-06-30 SC400776 frs-bus:Director1 2023-07-01 2024-06-30 SC400776 frs-bus:Director2 2023-07-01 2024-06-30 SC400776 frs-bus:Director3 2023-07-01 2024-06-30 SC400776 frs-countries:Scotland 2023-07-01 2024-06-30 SC400776 2022-06-30 SC400776 2023-06-30 SC400776 2022-07-01 2023-06-30 SC400776 frs-core:CurrentFinancialInstruments 2023-06-30 SC400776 frs-core:Non-currentFinancialInstruments 2023-06-30 SC400776 frs-core:BetweenOneFiveYears 2023-06-30 SC400776 frs-core:WithinOneYear 2023-06-30 SC400776 frs-core:ShareCapital 2023-06-30 SC400776 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: SC400776
Optimal FM Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Donn Sheldon
21 Forbes Place
Paisley
PA1 1UT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC400776
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 269,341 272,168
269,341 272,168
CURRENT ASSETS
Stocks 5 295,100 376,550
Debtors 6 1,259,410 811,430
Cash at bank and in hand 22,841 67,166
1,577,351 1,255,146
Creditors: Amounts Falling Due Within One Year 7 (1,553,280 ) (1,330,086 )
NET CURRENT ASSETS (LIABILITIES) 24,071 (74,940 )
TOTAL ASSETS LESS CURRENT LIABILITIES 293,412 197,228
Creditors: Amounts Falling Due After More Than One Year 8 (127,204 ) (196,310 )
NET ASSETS 166,208 918
CAPITAL AND RESERVES
Called up share capital 10 21 21
Profit and Loss Account 166,187 897
SHAREHOLDERS' FUNDS 166,208 918
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For the year ending 30 June 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stewart Henderson
Director
29/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Optimal FM Limited is a private company, limited by shares, incorporated in Scotland, registered number SC400776 . The registered office is Unit C Block A, 120 Carnegie Road, Hillington Park, Glasgow, G52 4JZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 166 (2023: 114)
166 114
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 44,195 194,711 277,400 10,399
Additions - 32,712 50,000 -
Disposals - (10,000 ) (18,000 ) -
As at 30 June 2024 44,195 217,423 309,400 10,399
Depreciation
As at 1 July 2023 - 150,001 102,073 7,445
Provided during the period - 24,450 41,068 707
Disposals - (4,792 ) (4,781 ) -
As at 30 June 2024 - 169,659 138,360 8,152
Net Book Value
As at 30 June 2024 44,195 47,764 171,040 2,247
As at 1 July 2023 44,195 44,710 175,327 2,954
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Computer Equipment Total
£ £
Cost
As at 1 July 2023 12,001 538,706
Additions 383 83,095
Disposals - (28,000 )
As at 30 June 2024 12,384 593,801
Depreciation
As at 1 July 2023 7,019 266,538
Provided during the period 1,270 67,495
Disposals - (9,573 )
As at 30 June 2024 8,289 324,460
Net Book Value
As at 30 June 2024 4,095 269,341
As at 1 July 2023 4,982 272,168
5. Stocks
2024 2023
£ £
Materials 131,400 159,350
Work in progress 163,700 217,200
295,100 376,550
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,217,532 735,766
Prepayments and accrued income 8,587 14,598
Other debtors 26,321 43,445
VAT 6,970 17,621
1,259,410 811,430
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 37,424 57,685
Trade creditors 253,388 152,364
Bank loans and overdrafts 65,333 155,654
Corporation tax 75,800 -
Other taxes and social security 51,704 155,746
Other creditors 1,065,753 805,637
Accruals and deferred income 3,000 3,000
Directors' loan accounts 878 -
1,553,280 1,330,086
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 73,623 95,157
Bank loans 53,581 101,153
127,204 196,310
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 37,424 57,685
Later than one year and not later than five years 73,623 95,157
111,047 152,842
111,047 152,842
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 21 21
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 243,500 474,000
12. Controlling Party
The company's controlling party is Stewart Henderson by virtue of his ownership of 66% of the issued share capital in the company.
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