2023-09-012024-08-312024-08-31false08167916OPTIMA CARE (HW) 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OPTIMA CARE (HW) LTD

Registered Number
08167916
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

OPTIMA CARE (HW) LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

Jagmohan Singh Chawla
Dr Manmohan Singh Chawla

Company Secretary

CHAWLA, Manmohan Singh, Dr

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

08167916 (England and Wales)
OPTIMA CARE (HW) LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets437,77544,442
37,77544,442
Current assets
Stocks54,0004,000
Debtors6112,618124,387
Cash at bank and on hand51,13152,670
167,749181,057
Creditors amounts falling due within one year7(55,149)(27,973)
Net current assets (liabilities)112,600153,084
Total assets less current liabilities150,375197,526
Net assets150,375197,526
Capital and reserves
Called up share capital62,999262,999
Profit and loss account87,376(65,473)
Shareholders' funds150,375197,526
The financial statements were approved and authorised for issue by the Board of Directors on 21 February 2025, and are signed on its behalf by:
Dr Manmohan Singh Chawla
Director
Registered Company No. 08167916
OPTIMA CARE (HW) LTD
Notes to the Financial Statements
for the year ended 31 August 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.
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.
Revenue from sale of goods
Turnover represents the fees receivable for dental treatments performed and the supply of related goods an services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year68
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 September 23680,000680,000
At 31 August 24680,000680,000
Amortisation and impairment
At 01 September 23680,000680,000
At 31 August 24680,000680,000
Net book value
At 31 August 24--
At 31 August 23--
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 September 2327,581105,222132,803
At 31 August 2427,581105,222132,803
Depreciation and impairment
At 01 September 2310,53477,82788,361
Charge for year2,5584,1096,667
At 31 August 2413,09281,93695,028
Net book value
At 31 August 2414,48923,28637,775
At 31 August 2317,04727,39544,442
5.Stocks

2024

2023

££
Other stocks4,0004,000
Total4,0004,000
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables13,8458,705
Other debtors50,955102,744
Prepayments and accrued income47,81812,938
Total112,618124,387
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables28,61617,332
Taxation and social security21,2652,287
Other creditors5,268457
Accrued liabilities and deferred income-7,897
Total55,14927,973
8.Related party transactions
Included in other debtors due within 12 months are the amounts owed from company connected to the director, Optima Care (Maidenhead) Ltd £22,048 (2023: £32,569) Included in other debtors due with in 12 months is an amount of £28,906 (2023: £69,416) due from the director. During the year company paid rent amounting to £22,000 (2023: £22,000) to the director, Dr Manmohan Singh Chawla.