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Registered number: 04967724
Optimum Technology Holdings Limited
Financial Statements
For The Year Ended 30 November 2024
NL Accountancy & Bookkeeping Services
Member of Institute of Accountants and Bookkeepers
30 The Street
Upper Sheringham
Norfolk
NR26 8AD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 04967724
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 34,338 9,893
Tangible Assets 5 139,092 11,327
Investments 6 2,500,002 2,500,002
2,673,432 2,521,222
CURRENT ASSETS
Debtors 7 610,775 5,013,523
Cash at bank and in hand 6,746 799
617,521 5,014,322
Creditors: Amounts Falling Due Within One Year 8 (1,576,804 ) (1,510,008 )
NET CURRENT ASSETS (LIABILITIES) (959,283 ) 3,504,314
TOTAL ASSETS LESS CURRENT LIABILITIES 1,714,149 6,025,536
NET ASSETS 1,714,149 6,025,536
CAPITAL AND RESERVES
Called up share capital 9 7,500,100 7,500,100
Profit and Loss Account (5,785,951 ) (1,474,564 )
SHAREHOLDERS' FUNDS 1,714,149 6,025,536
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kim Patchett
Director
15th May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Optimum Technology Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04967724 . The registered office is 30 The Street, Upper Sheringham, Norfolk, NR26 8AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 December 2023 10,414
Additions 26,279
As at 30 November 2024 36,693
Amortisation
As at 1 December 2023 521
Provided during the period 1,834
As at 30 November 2024 2,355
...CONTINUED
Page 2
Page 3
Net Book Value
As at 30 November 2024 34,338
As at 1 December 2023 9,893
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 5,249 4,934 3,367 13,550
Additions 128,279 - 2,332 130,611
As at 30 November 2024 133,528 4,934 5,699 144,161
Depreciation
As at 1 December 2023 807 740 676 2,223
Provided during the period 889 629 1,328 2,846
As at 30 November 2024 1,696 1,369 2,004 5,069
Net Book Value
As at 30 November 2024 131,832 3,565 3,695 139,092
As at 1 December 2023 4,442 4,194 2,691 11,327
6. Investments
Subsidiaries
£
Cost
As at 1 December 2023 2,500,002
As at 30 November 2024 2,500,002
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 2,500,002
As at 1 December 2023 2,500,002
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 609,313 -
Other debtors - 4,996,317
VAT 1,462 -
610,775 4,996,317
Due after more than one year
Amounts owed by group undertakings - 17,206
610,775 5,013,523
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Page 4
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 96,806 72,003
Other loans 13,706 -
VAT - 3,002
Other creditors 59,140 17,206
Accruals and deferred income 735 700
Director's loan account 1,406,417 1,417,097
1,576,804 1,510,008
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 7,500,100 7,500,100
10. Bad Debts Written Off
A long term debtor of £4,996,317 due from Optimum Technology Holdings Limited has been recognised as never likely to be received and has been written off as a bad debt in this financial year.  
The original invoice for licence fees was raised in November 2014 and was expected to be received within 2 years. 
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