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Company Registration No. 08590289 (England and Wales)
Opteo Ltd Unaudited accounts for the year ended 31 July 2024
Opteo Ltd Unaudited accounts Contents
Page
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Opteo Ltd Company Information for the year ended 31 July 2024
Directors
Guillaume Devinat Axel Hugo Vermwil
Company Number
08590289 (England and Wales)
Registered Office
The Tanneries 55 Bermondsey St. London SE1 3XW United Kingdom
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
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Opteo Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,848 
22,741 
Current assets
Debtors
19,529 
770,593 
Cash at bank and in hand
1,181,631 
1,023,008 
1,201,160 
1,793,601 
Net current assets
1,201,160 
1,793,601 
Total assets less current liabilities
1,216,008 
1,816,342 
Creditors: amounts falling due after more than one year
(75,705)
(85,160)
Net assets
1,140,303 
1,731,182 
Capital and reserves
Called up share capital
1,013 
1,013 
Profit and loss account
1,139,290 
1,730,169 
Shareholders' funds
1,140,303 
1,731,182 
For the year ending 31 July 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2025 and were signed on its behalf by
Guillaume Devinat Director Company Registration No. 08590289
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Opteo Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Opteo Ltd is a private company, limited by shares, registered in England and Wales, registration number 08590289. The registered office is The Tanneries, 55 Bermondsey St., London, SE1 3XW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
These accounts have been prepared on the going concern basis, on confirmation from the directors that the company is to receive further investment, enabling the company to carry on business for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Opteo Ltd Notes to the Accounts for the year ended 31 July 2024
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Prior period restatement
During the year, it was noted that retained earnings and accrued income were misstated due to timing differences relating to R&D tax credits, requiring the following adjustments in the prior year: - Accrued income increased by £132,887 to £132,887. - Loss for the year decreased by £8,902 to £399,899. - Retained loss increased by £132,887 to £1,730,169.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
1,799 
16,139 
46,706 
64,644 
Additions
- 
- 
2,357 
2,357 
At 31 July 2024
1,799 
16,139 
49,063 
67,001 
Depreciation
At 1 August 2023
1,799 
13,217 
26,887 
41,903 
Charge for the year
- 
2,178 
8,072 
10,250 
At 31 July 2024
1,799 
15,395 
34,959 
52,153 
Net book value
At 31 July 2024
- 
744 
14,104 
14,848 
At 31 July 2023
- 
2,922 
19,819 
22,741 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
132,887 
Amounts falling due after more than one year
Trade debtors
1,516 
372 
Amounts due from group undertakings etc.
- 
547,972 
Accrued income and prepayments
18,000 
15,038 
Other debtors
13 
74,324 
19,529 
637,706 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Trade creditors
12,161 
17,227 
Other creditors
20,598 
39,353 
Taxes and social security
42,946 
28,580 
75,705 
85,160 
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Opteo Ltd Notes to the Accounts for the year ended 31 July 2024
7
Average number of employees
During the year the average number of employees was 16 (2023: 16).
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