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REGISTERED NUMBER: 14880552 (England and Wales)














Financial Statements for the Period 19 May 2023 to 31 August 2024

for

Optimum News Limited

Optimum News Limited (Registered number: 14880552)






Contents of the Financial Statements
for the Period 19 May 2023 to 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Optimum News Limited

Company Information
for the Period 19 May 2023 to 31 August 2024







DIRECTOR: D G Connor





REGISTERED OFFICE: 21 Hatton Garden
Liverpool
Liverpool
Merseyside
L3 2FE





REGISTERED NUMBER: 14880552 (England and Wales)





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

Optimum News Limited (Registered number: 14880552)

Balance Sheet
31 August 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 156,000
Tangible assets 5 7,083
163,083

CURRENT ASSETS
Stocks 6 16,814
Debtors 7 9,117
Cash at bank and in hand 87,087
113,018
CREDITORS
Amounts falling due within one year 8 268,853
NET CURRENT LIABILITIES (155,835 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,248

PROVISIONS FOR LIABILITIES 1,346
NET ASSETS 5,902

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 5,802
5,902

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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 News Limited (Registered number: 14880552)

Notes to the Financial Statements
for the Period 19 May 2023 to 31 August 2024

1. STATUTORY INFORMATION

Optimum News Limited 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The turnover in the profit & loss account represents revenue recognised on goods sold on a cash or credit basis exclusive of value added tax. Revenue is recognised based on transactions the the till system of the Go Local store.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% 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.

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

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the 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.

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 period 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.

Optimum News Limited (Registered number: 14880552)

Notes to the Financial Statements - continued
for the Period 19 May 2023 to 31 August 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 180,000
At 31 August 2024 180,000
AMORTISATION
Amortisation for period 24,000
At 31 August 2024 24,000
NET BOOK VALUE
At 31 August 2024 156,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 8,333
At 31 August 2024 8,333
DEPRECIATION
Charge for period 1,250
At 31 August 2024 1,250
NET BOOK VALUE
At 31 August 2024 7,083

6. STOCKS
£   
Stocks 16,814

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 2,027
VAT 5,041
Prepayments 2,049
9,117

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 10,346
Amounts owed to group undertakings 242,244
Corporation taxation 8,022
Accrued expenses 8,241
268,853

Optimum News Limited (Registered number: 14880552)

Notes to the Financial Statements - continued
for the Period 19 May 2023 to 31 August 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

MR Gregory Newton FCCA (Senior Statutory Auditor)
for and on behalf of Douglas Fairless Partnership

10. ULTIMATE PARENT COMPANY

The ultimate parent company is Optimum Group Holdings Ltd, a company incorporated in England & Wales.

The registered office of the parent is as follows:

21 Hatton Garden
Liverpool
L3 2FE