Company Registration No. 08590289 (England and Wales)
Opteo Ltd
Unaudited accounts
for the year ended 31 July 2024
Opteo Ltd
Unaudited accounts
Contents
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
Opteo Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
14,848
22,741
Cash at bank and in hand
1,181,631
1,023,008
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
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
Opteo Ltd
Notes to the Accounts
for the year ended 31 July 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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
Expenditure on research and development is written off in the year in which it is incurred.
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.
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.
Opteo Ltd
Notes to the Accounts
for the year ended 31 July 2024
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.
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.
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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
At 31 July 2024
1,799
16,139
49,063
67,001
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
At 31 July 2024
-
744
14,104
14,848
At 31 July 2023
-
2,922
19,819
22,741
Amounts falling due within one year
Accrued income and prepayments
-
132,887
Amounts falling due after more than one year
Amounts due from group undertakings etc.
-
547,972
Accrued income and prepayments
18,000
15,038
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
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).