Company registration number 07077714 (England and Wales)
OPTIFAB INTERNATIONAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
OPTIFAB INTERNATIONAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OPTIFAB INTERNATIONAL LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,818
16,205
Current assets
Stocks
178,969
126,326
Debtors
4
487,262
337,953
Cash at bank and in hand
24,778
40,692
691,009
504,971
Creditors: amounts falling due within one year
5
(1,233,847)
(546,308)
Net current liabilities
(542,838)
(41,337)
Total assets less current liabilities
(532,020)
(25,132)
Creditors: amounts falling due after more than one year
6
(8,300)
(18,404)
Net liabilities
(540,320)
(43,536)
Capital and reserves
Called up share capital
415,001
415,001
Profit and loss reserves
(955,321)
(458,537)
Total equity
(540,320)
(43,536)
OPTIFAB INTERNATIONAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
..............................................
Mr Bertrand Sarrere
Director
Company registration number 07077714 (England and Wales)
OPTIFAB INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Optifab International Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7, Presley Way, Crownhill, Milton Keynes, Bucks, UK, MK8 0ES.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
1.2
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.
1.3
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:
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
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.
1.4
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.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
16
OPTIFAB INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
54,476
Additions
4,201
Disposals
(23,214)
At 30 September 2024
35,463
Depreciation and impairment
At 1 October 2023
38,271
Depreciation charged in the year
9,588
Eliminated in respect of disposals
(23,214)
At 30 September 2024
24,645
Carrying amount
At 30 September 2024
10,818
At 30 September 2023
16,205
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
325,710
315,595
Other debtors
161,552
22,358
487,262
337,953
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
191,162
139,361
Trade creditors
503,730
211,348
Taxation and social security
8,148
13,710
Other creditors
530,807
181,889
1,233,847
546,308
OPTIFAB INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,300
18,404
7
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Total commitments
96,350
142,598