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REGISTERED NUMBER: 03224819 (England and Wales)















OPTIMA DESIGN SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024






OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OPTIMA DESIGN SERVICES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024







DIRECTORS: I R Cowlishaw
D L Forrest





SECRETARY: I R Cowlishaw





REGISTERED OFFICE: Unit 20 The Courtyard
Maisies Way The Village
South Normanton
Derbyshire
DE55 2DS





REGISTERED NUMBER: 03224819 (England and Wales)

OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

BALANCE SHEET
30 JUNE 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 293,852 265,581

CURRENT ASSETS
Stocks 5,000 20,000
Debtors 5 155,708 146,646
Investments 6 1 1
Cash at bank 96,503 36,459
257,212 203,106
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

204,777

201,470
NET CURRENT ASSETS 52,435 1,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

346,287

267,217

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(31,634

)

(57,656

)

PROVISIONS FOR LIABILITIES (8,463 ) -
NET ASSETS 306,190 209,561

CAPITAL AND RESERVES
Called up share capital 68 68
Revaluation reserve 10 107,267 107,267
Capital redemption reserve 33 33
Retained earnings 198,822 102,193
SHAREHOLDERS' FUNDS 306,190 209,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:




I R Cowlishaw - Director



D L Forrest - Director


OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


1. STATUTORY INFORMATION

Optima Design Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Rental income is recognised when receivable.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of
completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold No Depreciation, 10% Straight Line
Fixtures, fittings & equipment 25% Reducing Balance
Computer equipment 33% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement
cost, adjusted where applicable for any loss of service potential

OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction
costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or
their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Fair value measurement of financial instruments
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of
impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes 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
reporting end date.


OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are
recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax
liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference
arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects
neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising
on translation in the period are included in profit or loss.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are
received.

Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with
banks, other short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion
of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2022 - 8 ) .

OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 260,000 35,418 79,008 374,426
Additions 26,540 1,275 7,964 35,779
At 30 June 2024 286,540 36,693 86,972 410,205
DEPRECIATION
At 1 January 2023 - 33,528 75,317 108,845
Charge for period 1,327 923 5,258 7,508
At 30 June 2024 1,327 34,451 80,575 116,353
NET BOOK VALUE
At 30 June 2024 285,213 2,242 6,397 293,852
At 31 December 2022 260,000 1,890 3,691 265,581

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 23,794 49,642
Other debtors 131,914 97,004
155,708 146,646

6. CURRENT ASSET INVESTMENTS
2024 2022
£    £   
Other 1 1

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 17,364 15,989
Trade creditors 13,263 10,854
Taxation and social security 38,907 39,728
Other creditors 135,243 134,899
204,777 201,470

OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 31,634 57,656

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans 48,998 73,645

The bank loan is secured.

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 30 June 2024 107,267

11. DIRECTORS' TRANSACTIONS

The following advances and credits to a director subsisted during the period ended 30 June 2024 and the year ended 31 December 2022:

2024 2022
£    £   
I R Cowlishaw
Balance outstanding at start of period 33,068 33,724
Amounts advanced 1,098 744
Amounts repaid (1,400 ) (1,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 32,766 33,068

Loans are made at the prevailing rate of interest as given by HM Revenue & Customs, and are repayable upon demand.

Interest is charged at 2.25%. Interest totalling £1,098 was charged in the period.

12. RELATED PARTY TRANSACTIONS

Remuneration of key management personnel
Included in other debtors is an amount of £57,114 (2022: £12,833) which is an intercompany loan owed to the company by Lunyx Limited, a company registered in England and Wales, which shares the same directors as Optima Design Services Limited.

OPTIMA DESIGN SERVICES LIMITED (REGISTERED NUMBER: 03224819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


13. SHARE OPTION RIGHTS

Rights to a share option in Pescredo Sports International Limited, a company registered in England and Wales with company registration number 06944731, were purchased during 2018. These rights to buy shares are for an indefinite period, and have a fair value of £1 due to Pescredo Sports International Limited being dormant and with no immediate intention to trade.