Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 April 2023 false 29 May 2025 1 January 2024 31 December 2024 31 December 2024 02103829 P M Mullins A R Ramos J A Ramos A R Ramos iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02103829 2023-12-31 02103829 2024-12-31 02103829 2024-01-01 2024-12-31 02103829 frs-core:CurrentFinancialInstruments 2024-12-31 02103829 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 02103829 frs-core:OtherResidualIntangibleAssets 2024-12-31 02103829 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 02103829 frs-core:OtherResidualIntangibleAssets 2023-12-31 02103829 frs-core:PlantMachinery 2024-12-31 02103829 frs-core:PlantMachinery 2024-01-01 2024-12-31 02103829 frs-core:PlantMachinery 2023-12-31 02103829 frs-core:ShareCapital 2024-12-31 02103829 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02103829 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02103829 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02103829 frs-bus:SmallEntities 2024-01-01 2024-12-31 02103829 frs-bus:Audited 2024-01-01 2024-12-31 02103829 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02103829 frs-bus:Director1 2024-01-01 2024-12-31 02103829 frs-bus:Director2 2024-01-01 2024-12-31 02103829 frs-bus:Director3 2024-01-01 2024-12-31 02103829 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02103829 frs-countries:EnglandWales 2024-01-01 2024-12-31 02103829 2023-03-31 02103829 2023-12-31 02103829 2023-04-01 2023-12-31 02103829 frs-core:CurrentFinancialInstruments 2023-12-31 02103829 frs-core:ShareCapital 2023-12-31 02103829 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02103829
Optinet Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 02103829
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 690 3,451
Tangible Assets 5 2,264 6,516
2,954 9,967
CURRENT ASSETS
Stocks 6 486 486
Debtors 7 141,955 104,287
Cash at bank and in hand 50,000 53,641
192,441 158,414
Creditors: Amounts Falling Due Within One Year 8 (134,807 ) (96,779 )
NET CURRENT ASSETS (LIABILITIES) 57,634 61,635
TOTAL ASSETS LESS CURRENT LIABILITIES 60,588 71,602
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (566 ) (1,629 )
NET ASSETS 60,022 69,973
CAPITAL AND RESERVES
Called up share capital 10 11,000 11,000
Profit and Loss Account 49,022 58,973
SHAREHOLDERS' FUNDS 60,022 69,973
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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
P M Mullins
Director
29th May 2025
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Optinet Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02103829 . The registered office is Clermont House, High Street, Cranbrook, Kent, TN17 3DN.
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 (as applicable to companies subject to the small companies' regime).
2.2. Going Concern Disclosure
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future. The company
therefore continues to adopt the going concern basis in preparing its financial statements.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates
and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the
period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements.
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial
statements other than those detailed in these accounting policies.
2.4. Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the
ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and
discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the entity and specific criteria have been met for each of the company's
activities.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible  assets 
Customer lists are stated in the balance sheet at cost, less any subsequent accumulated amortisation and
subsequent accumulated impairment losses.
Amortisation
Amortisation is provide on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Customer list - 20% - 33% straight line
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2.6. 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 20 - 25% straight line / reducing balance
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the
company has no legal or constructive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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2.10. Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet
date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described
below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that
occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable
amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of
the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is
allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine
reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised
recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment
been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the
assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s
carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original
effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s
carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at
the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event
occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An
impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable
value does not lead to a revised carrying amount higher than the carrying value had no impairment been
recognised.
2.11. Additional Accounting Policies
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and
hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of
trade debtors is established when there is objective evidence that the company will not be able to collect all
amounts due according to the original terms of the debtors.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months
after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the
reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence
are included at the undiscounted amount of cash expected to be paid.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred
and the time value of money is material, the initial measurement is on a present value basis.
Dividends
...CONTINUED
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2.11. Additional Accounting Policies - continued
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the
reporting period in which the dividends are declared.
3. Average Number of Employees
Employees are remunerated by a fellow subsidiary of the group PK National Eyecare Group Limited, who renders management charges to the company for staff and other services.  NIL (2023: NIL)
- -
4. Intangible Assets
Customer List
£
Cost
As at 1 January 2024 12,338
As at 31 December 2024 12,338
Amortisation
As at 1 January 2024 8,887
Provided during the period 2,761
As at 31 December 2024 11,648
Net Book Value
As at 31 December 2024 690
As at 1 January 2024 3,451
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 59,573
As at 31 December 2024 59,573
Depreciation
As at 1 January 2024 53,057
Provided during the period 4,252
As at 31 December 2024 57,309
Net Book Value
As at 31 December 2024 2,264
As at 1 January 2024 6,516
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6. Stocks
31 December 2024 31 December 2023
£ £
Finished goods 486 486
7. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 12,196 3,910
Prepayments and accrued income 25,969 22,880
Amounts owed by group undertakings 103,790 77,497
141,955 104,287
8. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 7,258 8,613
Corporation tax 32,000 25,478
VAT 25,007 19,248
Other creditors 14,715 -
Accruals and deferred income 55,827 22,940
Amounts owed to group undertakings - 20,500
134,807 96,779
9. Deferred Taxation
The provision for deferred tax is made up as follows:
31 December 2024 31 December 2023
£ £
Other timing differences 566 1,629
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10. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 11,000 11,000
Share rights
The preference shares give no rights to receive notice of, attend, or vote at any general meeting of the company.
The company has the right to redeem at par the whole or any part of the preference shares at any time after the
date of issue upon giving the holders of the particular shares to be redeemed not less than three months previous
notice in writing.
11. Audit Information
The auditor's report on the accounts of Optinet Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Paul Fussell (Senior Statutory Auditor) for and on behalf of Hazlewoods LLP , Statutory Auditor.
Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX
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