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Registered Number: 09167852
England and Wales

 

 

 

OPTIMAL FIRE AND SECURITY LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director D M Gaskell
Registered Number 09167852
Registered Office 100 Berkshire Place
GF33
Winnersh
RG41 5RD
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
Secretary V K Gaskell
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 7,677    10,071 
7,677    10,071 
Current assets      
Debtors 4 33,482    20,302 
Cash at bank and in hand 46,245    59,746 
79,727    80,048 
Creditors: amount falling due within one year 5 (22,862)   (30,597)
Net current assets 56,865    49,451 
 
Total assets less current liabilities 64,542    59,522 
Provisions for liabilities 6 (1,459)   (1,914)
Net assets 63,083    57,608 
 

Capital and reserves
     
Called up share capital 7 125    125 
Share premium account 8 11,975    11,975 
Profit and loss account 50,983    45,508 
Shareholders' funds 63,083    57,608 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 20 February 2025 and were signed by:


-------------------------------
D M Gaskell
Director
2
General Information
OPTIMAL FIRE AND SECURITY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09167852, registration address 100 Berkshire Place, GF33, Winnersh, RG41 5RD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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 companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 3 Years Straight Line
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.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2023 10,422    15,550    526    3,255    29,753 
Additions        
Disposals        
At 31 August 2024 10,422    15,550    526    3,255    29,753 
Depreciation
At 01 September 2023 6,236    11,364    149    1,933    19,682 
Charge for year 628    1,046    57    663    2,394 
On disposals        
At 31 August 2024 6,864    12,410    206    2,596    22,076 
Net book values
Closing balance as at 31 August 2024 3,558    3,140    320    659    7,677 
Opening balance as at 01 September 2023 4,186    4,186    377    1,322    10,071 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 29,853    17,175 
Other Debtors 3,629    3,127 
33,482    20,302 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,370    8,047 
Corporation Tax 13,382    12,966 
VAT Liability 7,110    7,708 
Other Creditors   1,876 
22,862    30,597 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,459    1,914 
1,459    1,914 

7.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
25 Ordinary A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
25 Ordinary A shares of £1.00 each 25    25 
125    125 

8.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 11,975   
Equity Share Premium - New Issue   11,975 
11,975    11,975 

3