Optimold Limited 04949109 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is providing plastic injection moulding services to the medical industry. Digita Accounts Production Advanced 6.30.9574.0 true 04949109 2024-01-01 2024-12-31 04949109 2024-12-31 04949109 core:RetainedEarningsAccumulatedLosses 2024-12-31 04949109 core:ShareCapital 2024-12-31 04949109 core:CurrentFinancialInstruments 2024-12-31 04949109 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04949109 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 04949109 core:FurnitureFittingsToolsEquipment 2024-12-31 04949109 core:LandBuildings 2024-12-31 04949109 core:OtherPropertyPlantEquipment 2024-12-31 04949109 bus:SmallEntities 2024-01-01 2024-12-31 04949109 bus:Audited 2024-01-01 2024-12-31 04949109 bus:FilletedAccounts 2024-01-01 2024-12-31 04949109 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04949109 bus:RegisteredOffice 2024-01-01 2024-12-31 04949109 bus:Director2 2024-01-01 2024-12-31 04949109 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04949109 bus:Agent1 2024-01-01 2024-12-31 04949109 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 04949109 core:ComputerEquipment 2024-01-01 2024-12-31 04949109 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04949109 core:LandBuildings 2024-01-01 2024-12-31 04949109 core:LeaseholdImprovements 2024-01-01 2024-12-31 04949109 core:OfficeEquipment 2024-01-01 2024-12-31 04949109 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 04949109 core:PlantMachinery 2024-01-01 2024-12-31 04949109 countries:AllCountries 2024-01-01 2024-12-31 04949109 2023-12-31 04949109 core:FurnitureFittingsToolsEquipment 2023-12-31 04949109 core:LandBuildings 2023-12-31 04949109 core:OtherPropertyPlantEquipment 2023-12-31 04949109 2023-01-01 2023-12-31 04949109 2023-12-31 04949109 core:RetainedEarningsAccumulatedLosses 2023-12-31 04949109 core:ShareCapital 2023-12-31 04949109 core:CurrentFinancialInstruments 2023-12-31 04949109 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04949109 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 04949109 core:FurnitureFittingsToolsEquipment 2023-12-31 04949109 core:LandBuildings 2023-12-31 04949109 core:OtherPropertyPlantEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 04949109

Optimold Limited

Financial Statements

for the Year Ended 31 December 2024

 

Optimold Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 8

 

Optimold Limited

(Registration number: 04949109)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

1,978,029

1,652,053

Current assets

 

Stocks

5

719,757

564,421

Debtors

6

940,526

1,018,052

Cash at bank and in hand

 

162,626

47,171

 

1,822,909

1,629,644

Creditors: Amounts falling due within one year

7

(905,541)

(850,637)

Net current assets

 

917,368

779,007

Total assets less current liabilities

 

2,895,397

2,431,060

Creditors: Amounts falling due after more than one year

7

(639,127)

(602,670)

Provisions for liabilities

(410,696)

(336,703)

Net assets

 

1,845,574

1,491,687

Capital and Reserves

 

Called up share capital

250

250

Retained Earnings

1,845,324

1,491,437

Shareholders' funds

 

1,845,574

1,491,687

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 July 2025 and signed on its behalf by:
 

.........................................
Mr Alisdair Watson
Director

   
     
 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
120 Golborne Enterprise Park
Golborne
Warrington
Cheshire
WA3 3GR
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Great Britain pounds sterling.

Audit report

The Independent Auditor's Report was qualified. We were not appointed as auditor of the company until after 31 December 2024 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024, which are included in the balance sheet at £719,757 and quantities of £564,421 held at 31 December 2023, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

The name of the Senior Statutory Auditor who signed the audit report on 30 July 2025 was Mr Damian Wayne Riley FCCA, who signed for and on behalf of Alextra Group Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Property

25% straight line basis

Plant and Machinery

20% reducing balance basis

Office Equipment

20% straight line basis

IT Equipment - Software

33.33% straight line basis

Amortisation

Asset class

Amortisation method and rate

Other intangible asset internally developed

20% straight line

 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102, in full, to all of its financial instruments.The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and related company loans.
 Recognition and measurement
Related company loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment.

 Impairment
If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2023 - 47).

 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

306,439

11,863

2,711,144

3,029,446

Additions

136,051

15,747

565,275

717,073

At 31 December 2024

442,490

27,610

3,276,419

3,746,519

Depreciation

At 1 January 2024

152,147

6,127

1,219,845

1,378,119

Charge for the year

44,013

6,209

340,149

390,371

At 31 December 2024

196,160

12,336

1,559,994

1,768,490

Carrying amount

At 31 December 2024

246,330

15,274

1,716,425

1,978,029

At 31 December 2023

154,292

5,737

1,492,024

1,652,053

Included within the above are assets on hire purchase of £947,399 (2023 - £823,151).

Included within the net book value of land and buildings above is £246,329 (2023 - £154,292) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Raw materials and consumables

104,849

112,532

Production supplies

81,994

66,369

Finished goods and goods for resale

532,914

385,520

719,757

564,421


 

 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

2024
£

2023
£

Trade debtors

617,861

797,277

Prepayments

21,733

13,026

Other debtors

300,932

207,749

 

940,526

1,018,052

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

357,896

413,987

Trade Creditors

347,482

256,680

Taxation and social security

160,173

124,825

Accruals and deferred income

27,987

45,749

Other creditors

12,003

9,396

905,541

850,637



 

Optimold Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

20,000

10,000

Other borrowings

31,776

119,034

HP and finance lease liabilities

306,120

284,953

357,896

413,987

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Bank borrowings

3,334

23,333

HP and finance lease liabilities

635,793

579,337

639,127

602,670

Included within creditors are HP and finance lease liabilities of £941,913 (2023 £864,290) which are secured on the assets financed.

The other borrowings of £31,776 (2024 £119,034) is secured by a charge created by RBS Invoice Finance Limited dated 11 May 2022. The charge created a fixed and floating charge over all the property or undertaking of the company as well as a negative pledge.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £319,033 (2023 - £74,263).