Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The principal activity of the company is research, experimental development and application of artificial intelligence in natural sciences and engineering2023-06-23false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14956043 2023-06-22 14956043 2023-06-23 2024-06-30 14956043 2022-06-23 2023-06-22 14956043 2024-06-30 14956043 c:Director2 2023-06-23 2024-06-30 14956043 d:CurrentFinancialInstruments 2024-06-30 14956043 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14956043 d:ShareCapital 2024-06-30 14956043 d:RetainedEarningsAccumulatedLosses 2024-06-30 14956043 c:OrdinaryShareClass1 2023-06-23 2024-06-30 14956043 c:OrdinaryShareClass1 2024-06-30 14956043 c:FRS102 2023-06-23 2024-06-30 14956043 c:AuditExempt-NoAccountantsReport 2023-06-23 2024-06-30 14956043 c:FullAccounts 2023-06-23 2024-06-30 14956043 c:PrivateLimitedCompanyLtd 2023-06-23 2024-06-30 14956043 e:PoundSterling 2023-06-23 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14956043














OPTIMALAI RESEARCH LTD

 
PAGES FOR FILING WITH THE REGISTRAR

FINANCIAL STATEMENTS

FOR THE PERIOD FROM 23 JUNE 2023 TO 30 JUNE 2024

 
OPTIMALAI RESEARCH LTD
REGISTERED NUMBER:14956043

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,598

Cash at bank and in hand
 5 
2,793

  
4,391

Creditors: amounts falling due within one year
 6 
(23,499)

Net current liabilities
  
 
 
(19,108)

Total assets less current liabilities
  
(19,108)

  

Net liabilities
  
(19,108)


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
  
(19,109)

  
(19,108)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2025.




S Yazbeck
Director

The notes on pages 2 to 4 form part of these financial statements.

1

 
OPTIMALAI RESEARCH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

OptimalAI Research Ltd is a private company, limited by shares, registered in England and Wales, registration number 14956043. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company is research, experimental development and application of artificial intelligence in natural sciences and engineering.

The company was incorporated on 23 June 2023 and commenced its trading on 27 February 2024.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at the year end, the balance sheet shows that the company has liabilities in excess of assets as a result of losses made to date. The directors are of the opinion that this is temporary due to it being a newly incorporated company, and therefore the accounts have been prepared on a going concern basis. The directors have confirmed that they will provide support to the company in order for the company to maintain operations and meet liabilites in full for the foreseeable future and meet the excess liabilities if the company is unable to do so.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

2

 
OPTIMALAI RESEARCH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from other third parties and loans to related parties.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2024
£


Other debtors
1,360

Prepayments
238

1,598



5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
2,793



6.


Creditors: Amounts falling due within one year

2024
£

Other creditors
19,999

Accruals
3,500

23,499


3

 
OPTIMALAI RESEARCH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


On 23 June 2023, the company issued 1 Ordinary share of £1.


8.


Related party transactions

Included within other creditors at the period end is an amount of £19,999 due to the shareholder and director of the company. The loan is interest free and repayable on demand.

 
4