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REGISTERED NUMBER: 11250716 (England and Wales)














Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 August 2024

for

Optimum Group Holdings Ltd

Optimum Group Holdings Ltd (Registered number: 11250716)






Contents of the Consolidated Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


Optimum Group Holdings Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D G Connor





REGISTERED OFFICE: 21 Hatton Garden
Liverpool
Merseyside
L3 2FE





REGISTERED NUMBER: 11250716 (England and Wales)





AUDITORS: Douglas Fairless Partnership
Chartered Certified Accountants
and Statutory Auditors
Seymour Chambers
92 London Road
Liverpool
Merseyside
L3 5NW

Optimum Group Holdings Ltd (Registered number: 11250716)

Group Strategic Report
for the Year Ended 31 August 2024

The director presents his strategic report of the company and the group for the year ended 31 August 2024.

Optimum Group Holdings Ltd is the holding company for the optimum group which has been trading primarily as costa franchises stores for over a decade.

The group has been steadily expanding it's costa franchises over the years while also looking at other opportunities for growth which has seen them open a newsagents within the year.

REVIEW OF BUSINESS
The year to 31st August 2024 has seen the group continue to grow despite challenging conditions relating to rising costs and inflation, this has seen revenue grow from £10.4million to £11.8 million, 95.7% of the sales were generated from the costa franchises. The competitive nature of the coffee industry is increasing each year and has lead us to actively source new sites or expanding our costa franchises using the popular brand name to our advantage.

Tighter controls through the business have helped the business maintain a slight increase in gross profit margin of 40.65% (2023 - £39.79%) while increasing net profit from 0.22% to 5.44%.

We have continued to invest in new fixtures & fittings to keep all stores modern and up to date along with property purchases related to new costa franchises. The continued investment has lead to higher depreciation costs, the profit before depreciation is a strong indicator for how the business is operating with an increase from £965k in 2023 to £1.3m in 2024.

The strong performance of the business has lead to increased net cash from operating activities of £1.2million (2023 - £709K) and despite the continued investments the group still shows a healthy cash increase from £945,736 in 2023 to £1,070,909 in 2024.

PRINCIPAL RISKS AND UNCERTAINTIES
In line with the rest of he franchise industry, the director has identified the following as the more significant risks and uncertainties faced by the group: customer loyalty, margin pressure arising from inflation of raw materials and labour costs, competition and ultimately profitability, given the inherent cost base of the business required to support it's activities in it's chosen markets.

The director believes that the robust internal control processes in place, strong franchise brand and excellent levels of customer service provide the group with very good protection in relation to the principal risks and uncertainties faced.

ON BEHALF OF THE BOARD:





D G Connor - Director


28 August 2025

Optimum Group Holdings Ltd (Registered number: 11250716)

Report of the Director
for the Year Ended 31 August 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 August 2024.

DIVIDENDS
An interim dividend of 650 per share was paid on 31 August 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 August 2024 will be £ 65,000 .

DIRECTOR
D G Connor held office during the whole of the period from 1 September 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Douglas Fairless Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D G Connor - Director


28 August 2025

Report of the Independent Auditors to the Members of
Optimum Group Holdings Ltd

Opinion
We have audited the financial statements of Optimum Group Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Optimum Group Holdings Ltd


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

In identifying and assessing risks of material misstatement in the financial statements in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, the control environment and the impact of business performance on Directors earnings.
- results of our enquiries of management and key finance persons about their own identification and assessment of the risks and irregularities.
- any matters we identified after obtaining and reviewing company policies and procedures relating to; identifying, evaluating and complying with laws and regulations. Detecting and responding to risks of fraud. The internal controls in place to mitigate the risks of fraud or non-compliance with laws and regulations.

From this assessment, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis of our opinion. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance, reviewing correspondence with HMRC; and
- in addressing the risk of fraud through management override of controls; we have tested the operational effectiveness of internal controls relevant to the financial statements, tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Optimum Group Holdings Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Gregory Newton FCCA (Senior Statutory Auditor)
for and on behalf of Douglas Fairless Partnership
Chartered Certified Accountants
and Statutory Auditors
Seymour Chambers
92 London Road
Liverpool
Merseyside
L3 5NW

28 August 2025

Optimum Group Holdings Ltd (Registered number: 11250716)

Consolidated
Income Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 3 11,872,331 10,439,009

Cost of sales 7,046,113 3,131,108
GROSS PROFIT 4,826,218 7,307,901

Administrative expenses 4,111,583 7,240,877
714,635 67,024

Other operating income 136,306 214,526
OPERATING PROFIT 5 850,941 281,550

Interest receivable and similar income - 9,916
850,941 291,466
Gain/loss on revaluation of investment
property

256,817

-
1,107,758 291,466

Interest payable and similar expenses 6 461,623 268,738
PROFIT BEFORE TAXATION 646,135 22,728

Tax on profit 7 248,905 (80,920 )
PROFIT FOR THE FINANCIAL YEAR 397,230 103,648
Profit attributable to:
Owners of the parent 397,230 103,648

Optimum Group Holdings Ltd (Registered number: 11250716)

Consolidated
Other Comprehensive Income
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

PROFIT FOR THE YEAR 397,230 103,648


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

397,230

103,648

Total comprehensive income attributable to:
Owners of the parent 397,230 103,648

Optimum Group Holdings Ltd (Registered number: 11250716)

Consolidated Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 531,176 495,116
Tangible assets 11 6,843,233 6,730,830
Investments 12
Interest in associate 37,500 37,500
Other investments 1,032,556 557,020
Investment property 13 1,121,000 864,183
9,565,465 8,684,649

CURRENT ASSETS
Stocks 14 112,826 92,012
Debtors 15 630,326 697,527
Cash at bank and in hand 1,070,909 945,736
1,814,061 1,735,275
CREDITORS
Amounts falling due within one year 16 2,406,602 2,521,501
NET CURRENT LIABILITIES (592,541 ) (786,226 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,972,924

7,898,423

CREDITORS
Amounts falling due after more than one
year

17

(6,034,955

)

(5,155,388

)

PROVISIONS FOR LIABILITIES 20 (399,640 ) (448,771 )
NET ASSETS 2,538,329 2,294,264

CAPITAL AND RESERVES
Called up share capital 21 100 100
Revaluation reserve 22 (31,935 ) -
Non-Dist Reserves 22 192,613 -
Retained earnings 22 2,377,551 2,294,164
SHAREHOLDERS' FUNDS 2,538,329 2,294,264

The financial statements were approved by the director and authorised for issue on 28 August 2025 and were signed by:





D G Connor - Director


Optimum Group Holdings Ltd (Registered number: 11250716)

Company Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 1,287,832 1,287,832
Investment property 13 - -
1,287,832 1,287,832

CURRENT ASSETS
Debtors 15 9,679 7,326

CREDITORS
Amounts falling due within one year 16 1,024,427 962,328
NET CURRENT LIABILITIES (1,014,748 ) (955,002 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,084

332,830

CREDITORS
Amounts falling due after more than one
year

17

272,730

332,730
NET ASSETS 354 100

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 22 254 -
SHAREHOLDERS' FUNDS 354 100

Company's profit for the financial year 65,254 88,000

The financial statements were approved by the director and authorised for issue on 26 August 2025 and were signed by:





D G Connor - Director


Optimum Group Holdings Ltd (Registered number: 11250716)

Consolidated Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Revaluation Non-Dist Total
capital earnings reserve Reserves equity
£    £    £    £    £   
Balance at 1 September 2022 100 2,278,516 - - 2,278,616

Changes in equity
Dividends - (88,000 ) - - (88,000 )
Total comprehensive income - 103,648 - - 103,648
Balance at 31 August 2023 100 2,294,164 - - 2,294,264

Changes in equity
Dividends - (65,000 ) - - (65,000 )
Total comprehensive income - 204,617 (31,935 ) 192,613 365,295
Balance at 31 August 2024 100 2,433,781 (31,935 ) 192,613 2,594,559

Optimum Group Holdings Ltd (Registered number: 11250716)

Company Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 100 - 100

Changes in equity
Dividends - (88,000 ) (88,000 )
Total comprehensive income - 88,000 88,000
Balance at 31 August 2023 100 - 100

Changes in equity
Dividends - (65,000 ) (65,000 )
Total comprehensive income - 65,254 65,254
Balance at 31 August 2024 100 254 354

Optimum Group Holdings Ltd (Registered number: 11250716)

Consolidated Cash Flow Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,626,661 1,067,543
Interest paid (461,623 ) (268,738 )
Tax paid 90,467 (89,350 )
Net cash from operating activities 1,255,505 709,455

Cash flows from investing activities
Purchase of intangible fixed assets (180,000 ) (10,000 )
Purchase of tangible fixed assets (971,347 ) (1,460,470 )
Purchase of fixed asset investments (507,471 ) (594,520 )
Sale of tangible fixed assets 170,185 41,004
Interest received - 9,916
Net cash from investing activities (1,488,633 ) (2,014,070 )

Cash flows from financing activities
New loans in year 1,170,000 -
Loan repayments in year (744,346 ) (151,030 )
Amount introduced by directors - 57,040
Amount withdrawn by directors (2,353 ) -
Share issue - 502
Equity dividends paid (65,000 ) (88,000 )
Net cash from financing activities 358,301 (181,488 )

Increase/(decrease) in cash and cash equivalents 125,173 (1,486,103 )
Cash and cash equivalents at beginning
of year

2

945,736

2,431,839

Cash and cash equivalents at end of year 2 1,070,909 945,736

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 August 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.8.24 31.8.23
£    £   
Profit before taxation 646,135 22,728
Depreciation charges 873,582 942,492
Loss/(profit) on disposal of fixed assets 79,428 (130 )
Gain on revaluation of fixed assets (256,817 ) -
Finance costs 461,623 268,738
Finance income - (9,916 )
1,803,951 1,223,912
Increase in stocks (20,814 ) (12,611 )
Increase in trade and other debtors (61,225 ) (217,724 )
(Decrease)/increase in trade and other creditors (95,251 ) 73,966
Cash generated from operations 1,626,661 1,067,543

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 1,070,909 945,736
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 945,736 2,431,839


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 945,736 125,173 1,070,909
945,736 125,173 1,070,909
Debt
Debts falling due within 1 year (304,444 ) (138,953 ) (443,397 )
Debts falling due after 1 year (4,822,658 ) (939,567 ) (5,762,225 )
(5,127,102 ) (1,078,520 ) (6,205,622 )
Total (4,181,366 ) (953,347 ) (5,134,713 )

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Optimum Group Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover in the profit and loss account represents revenue recognised on goods sold on a cash or credit basis, exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Improvements to property - 25% on cost, 20% on cost, 15% on cost and 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost, 15% on reducing balance and 10% on cost
Motor vehicles - 25% on reducing balance and 25% on cost
Computer equipment - 33% on cost and 33% on reducing balance

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less accumulated depreciation and any accumulated impairment losses

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The group further enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties and loans to and from related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover in the profit and loss account represents revenue recognised on goods sold on a cash or credit basis, exclusive of value added tax.

4. EMPLOYEES AND DIRECTORS
31.8.24 31.8.23
£    £   
Wages and salaries 172,246 3,010,114
Social security costs 7,023 174,650
Other pension costs 1,316 43,700
180,585 3,228,464

The average number of employees during the year was as follows:
31.8.24 31.8.23

Coffee shop staff - 178
Management 6 6
Director 1 1
7 185

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

31.8.24 31.8.23
£    £   
Director's remuneration 2,094 24,000

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.8.24 31.8.23
£    £   
Hire of plant and machinery 51,350 -
Depreciation - owned assets 734,659 822,094
Loss/(profit) on disposal of fixed assets 79,428 (130 )
Goodwill amortisation 136,266 112,266
Patents and licences amortisation 7,674 8,133
Auditors' remuneration 31,000 10,000
Other non- audit services 8,500 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.8.24 31.8.23
£    £   
Bank loan interest 131,278 -
Loan interest 330,345 268,738
461,623 268,738

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 298,036 26,175

Deferred tax (49,131 ) (107,095 )
Tax on profit 248,905 (80,920 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
31.8.24 31.8.23
£    £   
Ordinary shares of £1 each
Interim 65,000 88,000

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

10. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 September 2023 1,122,660 207,844 1,330,504
Additions 180,000 - 180,000
At 31 August 2024 1,302,660 207,844 1,510,504
AMORTISATION
At 1 September 2023 654,885 180,503 835,388
Amortisation for year 136,266 7,674 143,940
At 31 August 2024 791,151 188,177 979,328
NET BOOK VALUE
At 31 August 2024 511,509 19,667 531,176
At 31 August 2023 467,775 27,341 495,116

11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 September 2023 3,727,882 3,916,750 288,207
Additions 862,622 - -
Disposals (125,437 ) (166,903 ) (60,609 )
Reclassification/transfer (105,407 ) 105,407 -
At 31 August 2024 4,359,660 3,855,254 227,598
DEPRECIATION
At 1 September 2023 139,882 2,862,559 269,503
Charge for year 87,193 278,028 1,719
Eliminated on disposal - (164,861 ) (53,368 )
At 31 August 2024 227,075 2,975,726 217,854
NET BOOK VALUE
At 31 August 2024 4,132,585 879,528 9,744
At 31 August 2023 3,588,000 1,054,191 18,704

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 4,327,139 490,736 144,073 12,894,787
Additions 219,854 35,350 6,728 1,124,554
Disposals (809,775 ) (30,042 ) - (1,192,766 )
Reclassification/transfer - - - -
At 31 August 2024 3,737,218 496,044 150,801 12,826,575
DEPRECIATION
At 1 September 2023 2,584,215 207,577 128,100 6,191,836
Charge for year 265,463 92,297 9,959 734,659
Eliminated on disposal (697,972 ) (26,952 ) - (943,153 )
At 31 August 2024 2,151,706 272,922 138,059 5,983,342
NET BOOK VALUE
At 31 August 2024 1,585,512 223,122 12,742 6,843,233
At 31 August 2023 1,742,924 283,159 15,973 6,702,951

12. FIXED ASSET INVESTMENTS

Group
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 37,500 557,020 594,520
Additions - 507,471 507,471
Revaluations - (31,935 ) (31,935 )
At 31 August 2024 37,500 1,032,556 1,070,056
NET BOOK VALUE
At 31 August 2024 37,500 1,032,556 1,070,056
At 31 August 2023 37,500 557,020 594,520

Cost or valuation at 31 August 2024 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2024 - (31,935 ) (31,935 )
Cost 37,500 1,064,491 1,101,991
37,500 1,032,556 1,070,056

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

12. FIXED ASSET INVESTMENTS - continued

Company
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 1,250,332 37,500 1,287,832
NET BOOK VALUE
At 31 August 2024 1,250,332 37,500 1,287,832
At 31 August 2023 1,250,332 37,500 1,287,832

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Optimum Cappuccino Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Coffee shop
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 2,051,913 1,987,948
Profit for the year 161,733 320,691

Optimum Coffee Services Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Coffee shop
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 84,212 40,005
Profit/(loss) for the year 44,972 (22,024 )

Optimum Cortado Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Coffe shop
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 337,411 170,586
Profit for the year 167,400 57,334

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

12. FIXED ASSET INVESTMENTS - continued

Optimum Coffee Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Coffee shop
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 1,043,671 1,109,293
Loss for the year (65,622 ) (34,844 )

Optimum Doner Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Takeaway
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves (149,553 ) (88,852 )
Profit for the year 60,701 55,050

Optimum Espresso Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Coffee shop
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 16,205 (7,083 )
Profit/(loss) for the year 23,288 (7,183 )

Optimum Group Properties Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Property Investment
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 43,039 (191,506 )
Profit/(loss) for the year 237,371 (57,309 )

Optimum News Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Newsagents
%
Class of shares: holding
Ordinary 100.00
31.8.24
£   
Aggregate capital and reserves 5,902
Profit for the year 5,802

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

12. FIXED ASSET INVESTMENTS - continued

Optimum Ristretto Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 100 100

Associated company

Optimum Gelato Limited
Registered office: 21 Hatton Garden, Liverpool, Merseyside, L3 2FE
Nature of business: Cafe
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 29,861 129,697
Loss for the year (99,836 ) (21,207 )


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 September 2023 864,183
Revaluations 256,817
At 31 August 2024 1,121,000
NET BOOK VALUE
At 31 August 2024 1,121,000
At 31 August 2023 864,183

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 256,817
Cost 864,183
1,121,000

14. STOCKS

Group
31.8.24 31.8.23
£    £   
Stocks 16,814 -
Finished goods 96,012 92,012
112,826 92,012

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.8.24 31.8.23 31.8.24 31.8.23
£    £    £    £   
Trade debtors 48,772 44,476 - -
Other debtors 343,276 356,991 - -
Directors' current accounts 9,679 7,326 9,679 7,326
Corporation tax - 130,779 - -
Prepayments 228,599 157,955 - -
630,326 697,527 9,679 7,326

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.8.24 31.8.23 31.8.24 31.8.23
£    £    £    £   
Bank loans and overdrafts (see note 18) 443,397 304,444 - -
Trade creditors 734,873 1,001,145 - -
Amounts owed to group undertakings - - 961,827 902,228
Corporation taxation 276,360 18,636 - -
Social security and other taxes 10,314 42,432 - -
VAT 99,109 171,708 - -
Other creditors 410,254 734,836 60,100 60,100
Credit card 28,102 - - -
Accrued expenses 404,193 248,300 2,500 -
2,406,602 2,521,501 1,024,427 962,328

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
31.8.24 31.8.23 31.8.24 31.8.23
£    £    £    £   
Bank loans (see note 18) 5,762,225 4,822,658 - -
Other creditors 272,730 332,730 272,730 332,730
6,034,955 5,155,388 272,730 332,730

18. LOANS

An analysis of the maturity of loans is given below:

Group
31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 443,397 304,444
Amounts falling due between one and two years:
Bank loans - 1-2 years 478,141 4,822,658
Amounts falling due between two and five years:
Bank loans - 2-5 years 5,126,094 -
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 157,990 -

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
31.8.24 31.8.23
£    £   
Within one year 497,050 497,050
Between one and five years 1,988,200 1,988,200
In more than five years 2,485,250 2,982,300
4,970,500 5,467,550

20. PROVISIONS FOR LIABILITIES

Group
31.8.24 31.8.23
£    £   
Deferred tax 399,640 448,771

Group
Deferred
tax
£   
Balance at 1 September 2023 448,771
Capital allowance timing diffs (49,131 )
Balance at 31 August 2024 399,640

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

22. RESERVES

Group
Retained Revaluation Non-Dist
earnings reserve Reserves Totals
£    £    £    £   

At 1 September 2023 2,237,934 - - 2,237,934
Profit for the year 397,230 397,230
Dividends (65,000 ) (65,000 )
Transfer (192,613 ) (31,935 ) 192,613 (31,935 )
At 31 August 2024 2,377,551 (31,935 ) 192,613 2,538,229

Company
Retained
earnings
£   

Profit for the year 65,254
Dividends (65,000 )
At 31 August 2024 254

Optimum Group Holdings Ltd (Registered number: 11250716)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024

22. RESERVES - continued


23. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D G Connor.