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Company Registration No. 10906532 (England and Wales)
Option Finance Ltd Unaudited accounts for the year ended 31 August 2024
Option Finance Ltd Unaudited accounts Contents
Page
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Option Finance Ltd Company Information for the year ended 31 August 2024
Director
Davinder Singh Thakar
Company Number
10906532 (England and Wales)
Registered Office
Option Finance Ltd 119a Friar Gate Derby Derbyshire DE1 1EX England
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Option Finance Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
532 
709 
Current assets
Debtors
73,472 
75,970 
Cash at bank and in hand
1,265 
41,078 
74,737 
117,048 
Creditors: amounts falling due within one year
(36,706)
(43,190)
Net current assets
38,031 
73,858 
Total assets less current liabilities
38,563 
74,567 
Creditors: amounts falling due after more than one year
(5,561)
(9,050)
Provisions for liabilities
Other provisions
- 
(180)
Net assets
33,002 
65,337 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
33,000 
65,335 
Shareholders' funds
33,002 
65,337 
For the year ending 31 August 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 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 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 and authorised for issue on 29 May 2025 and were signed on its behalf by
Davinder Singh Thakar Director Company Registration No. 10906532
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Option Finance Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Option Finance Ltd is a private company, limited by shares, registered in England and Wales, registration number 10906532. The registered office is Option Finance Ltd, 119a Friar Gate, Derby, Derbyshire, DE1 1EX, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Plant & machinery
25% reducing balance
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 September 2023
5,176 
At 31 August 2024
5,176 
Depreciation
At 1 September 2023
4,467 
Charge for the year
177 
At 31 August 2024
4,644 
Net book value
At 31 August 2024
532 
At 31 August 2023
709 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
73,472 
75,970 
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Option Finance Ltd Notes to the Accounts for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
1,076 
Taxes and social security
- 
19,199 
Other creditors
12,000 
1,903 
Loans from directors
22,225 
4,812 
Accruals
2,481 
16,200 
36,706 
43,190 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,561 
9,050 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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