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Company No: 08593142 (England and Wales)

OPTIMUS PRIVATE CLIENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

OPTIMUS PRIVATE CLIENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

OPTIMUS PRIVATE CLIENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
OPTIMUS PRIVATE CLIENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTOR Paul Panayi
SECRETARY Simone Panayi
REGISTERED OFFICE 17 Queens Lane
Newcastle Upon Tyne
NE1 1RN
United Kingdom
COMPANY NUMBER 08593142 (England and Wales)
ACCOUNTANT S&W Partners Newcastle Limited
17 Queens Lane
Newcastle
NE1 1RN
OPTIMUS PRIVATE CLIENTS LIMITED

BALANCE SHEET

As at 31 July 2024
OPTIMUS PRIVATE CLIENTS LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 590,000 580,000
Investments 4 51,100 51,100
641,100 631,100
Current assets
Debtors 5 15,905 14,624
Cash at bank and in hand 150 851
16,055 15,475
Creditors: amounts falling due within one year 6 ( 162,288) ( 160,278)
Net current liabilities (146,233) (144,803)
Total assets less current liabilities 494,867 486,297
Creditors: amounts falling due after more than one year 7 ( 182,513) ( 187,384)
Provision for liabilities ( 63,635) ( 61,081)
Net assets 248,719 237,832
Capital and reserves
Called-up share capital 100 100
Fair value reserve 285,785 277,685
Profit and loss account ( 37,166 ) ( 39,953 )
Total shareholders' funds 248,719 237,832

For the financial 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.

Director's responsibilities:

The financial statements of Optimus Private Clients Limited (registered number: 08593142) were approved and authorised for issue by the Director on 17 July 2025. They were signed on its behalf by:

Paul Panayi
Director
OPTIMUS PRIVATE CLIENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
OPTIMUS PRIVATE CLIENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Optimus Private Clients Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17 Queens Lane, Newcastle Upon Tyne, NE1 1RN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Optimus Private Clients Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Turnover

The company is a property investment company. Turnover represents rents receivable in the period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Other unlisted investments are measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit and loss account.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 580,000
Fair value movement 10,000
As at 31 July 2024 590,000

Valuation

The fair value of the property at 31 July 2024 has been arrived at on the basis of a valuation carried out by the director whom is not a professional qualified valuer. The valuation, was arrived at by reference to market evidence of transaction prices for similar properties in their location.

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 August 2023 102,300 102,300
At 31 July 2024 102,300 102,300
Provisions for impairment
At 01 August 2023 51,200 51,200
At 31 July 2024 51,200 51,200
Carrying value at 31 July 2024 51,100 51,100
Carrying value at 31 July 2023 51,100 51,100

5. Debtors

2024 2023
£ £
Other debtors 15,905 14,624

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,201 4,254
Trade creditors 599 2,322
Other creditors 157,488 153,702
162,288 160,278

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 182,513 187,384

The bank loans are secured by way of fixed and floating charges over the company's assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured / repayable by instalments) 163,102 28,448

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to the director 115,744 109,826

The above amounts are included within Other creditors. The loan to the company is made interest-free and is repayable on demand.