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Registered number: 10389813
Optimum Real Estate Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10389813
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 558,122 557,272
Investments 5 534,964 534,964
1,093,086 1,092,236
CURRENT ASSETS
Debtors 6 161,879 157,841
Cash at bank and in hand 63,573 102,841
225,452 260,682
Creditors: Amounts Falling Due Within One Year 7 (541,124 ) (544,858 )
NET CURRENT ASSETS (LIABILITIES) (315,672 ) (284,176 )
TOTAL ASSETS LESS CURRENT LIABILITIES 777,414 808,060
Creditors: Amounts Falling Due After More Than One Year 8 (109,442 ) (109,445 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,035 ) (24,035 )
NET ASSETS 643,937 674,580
CAPITAL AND RESERVES
Called up share capital 10 325 325
Share premium account 536,520 536,520
Profit and Loss Account 107,092 137,735
SHAREHOLDERS' FUNDS 643,937 674,580
Page 1
Page 2
For the year ending 31 March 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 director acknowledges his 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
A J O'Reilly
Director
11 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Optimum Real Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10389813 . The registered office is C/O AKE, Hoddesdon Enterprise Centre, Pindar Road, Hoddesdon, Hertfordshire, EN11 0FJ.
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. Turnover includes revenue earned from rents received. Turnover is recognised in the month the rent is chargeable.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.5. 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.
2.6. 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.
2.7. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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3. Average Number of Employees
Average number of employees, including director, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 April 2023 557,272
Additions 850
As at 31 March 2024 558,122
Net Book Value
As at 31 March 2024 558,122
As at 1 April 2023 557,272
5. Investments
Unlisted
£
Cost
As at 1 April 2023 534,964
As at 31 March 2024 534,964
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 534,964
As at 1 April 2023 534,964
Abode Consultancy Limited 75% shareholding 
William James Property Limited 100% shareholding 
Optimum Residential Property Limited 100% shareholding 
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 174
Amounts owed by group undertakings 159,899 155,775
Other debtors 1,980 1,892
161,879 157,841
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 203,038 197,775
Amounts owed to group undertakings 338,021 346,478
Other creditors 65 605
541,124 544,858
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 109,442 109,445
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 109,442 109,445
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 109,442 109,445
Other Creditors 203,038 197,775
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 325 325
11. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard Section 1A for "Small Entities" applicable in the UK and Republic of Ireland', not to disclose related party transactions as the company wholly owns subsidiaries within a small group.
Abode Consultancy LimitedThe above is a connected company by virtue of common control.During the period the related party incurred expenses on behalf of the company. At the balance sheet date, the related party was owed £118,612 (2023: £118,612) by the company. No interest was charged on the loan during the period.

Abode Consultancy Limited

The above is a connected company by virtue of common control.

During the period the related party incurred expenses on behalf of the company. At the balance sheet date, the related party was owed £118,612 (2023: £118,612) by the company. No interest was charged on the loan during the period.

A J O'ReillyThe above is a related party by virtue of being the director.During the period the related party drew against their account and incurred expenses on behalf of the company. At the balance sheet date, the related party was owed £65 (2023: £605) by the company. No interest was charged on the loan during the period.

A J O'Reilly

The above is a related party by virtue of being the director.

During the period the related party drew against their account and incurred expenses on behalf of the company. At the balance sheet date, the related party was owed £65 (2023: £605) by the company. No interest was charged on the loan during the period.

12. Ultimate Controlling Party
The company's ultimate controlling party is A J O'Reilly by virtue of his majority ownership of the issued share capital in the company.
13. Charges
Page 5
Page 6
Charter Court Financial Services Limited hold a fixed & floating charge over two of the investment properties owned by the company.

Together Commercial Finance Limited hold a fixed & floating charge over one of the investment properties owned by the company.
Page 6