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REGISTERED NUMBER: 11895977 (England and Wales)














Financial Statements for the Year Ended 31 August 2024

for

Optimum Group Properties Limited

Optimum Group Properties Limited (Registered number: 11895977)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Optimum Group Properties Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D G Connor





REGISTERED OFFICE: 21 Hatton Garden
Liverpool
Merseyside
L3 2FE





REGISTERED NUMBER: 11895977 (England and Wales)





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

Optimum Group Properties Limited (Registered number: 11895977)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,464,198 3,613,806
Investments 5 91,382 94,208
Investment property 6 1,121,000 864,183
5,676,580 4,572,197

CURRENT ASSETS
Debtors 7 736,395 348,042
Cash at bank 7,936 437,412
744,331 785,454
CREDITORS
Amounts falling due within one year 8 527,210 662,336
NET CURRENT ASSETS 217,121 123,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,893,701

4,695,315

CREDITORS
Amounts falling due after more than one
year

9

(5,762,225

)

(4,822,658

)

PROVISIONS FOR LIABILITIES (88,437 ) (64,163 )
NET ASSETS/(LIABILITIES) 43,039 (191,506 )

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 11 (2,826 ) -
Non-Dist Reserves 192,613 -
Retained earnings (146,749 ) (191,507 )
43,039 (191,506 )

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 Group Properties Limited (Registered number: 11895977)

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

1. STATUTORY INFORMATION

Optimum Group Properties 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 as modified by the revaluation of certain assets.

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.

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
Improvements to property - 10% on cost
Fixtures and fittings - 10% on cost

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

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.

Financial instruments
The company only 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 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 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.

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

Investments
Investments are initially measured at cost and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the revaluation reserve.

Optimum Group Properties Limited (Registered number: 11895977)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 3,497,038 175,704 129,007 - 3,801,749
Additions 862,622 - 109,590 7,350 979,562
At 31 August 2024 4,359,660 175,704 238,597 7,350 4,781,311
DEPRECIATION
At 1 September 2023 139,882 35,160 12,901 - 187,943
Charge for year 87,193 17,570 22,569 1,838 129,170
At 31 August 2024 227,075 52,730 35,470 1,838 317,113
NET BOOK VALUE
At 31 August 2024 4,132,585 122,974 203,127 5,512 4,464,198
At 31 August 2023 3,357,156 140,544 116,106 - 3,613,806

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2023 94,208
Revaluations (2,826 )
At 31 August 2024 91,382
NET BOOK VALUE
At 31 August 2024 91,382
At 31 August 2023 94,208

Cost or valuation at 31 August 2024 is represented by:

Other
investments
£   
Valuation in 2024 (2,826 )
Cost 94,208
91,382

Optimum Group Properties Limited (Registered number: 11895977)

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

6. INVESTMENT PROPERTY
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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 57,269 35,228
Amounts owed by group undertakings 461,170 176,820
Other debtors 203,334 86,686
Corporation tax - 10,389
VAT 7,984 35,374
Prepayments 6,638 3,545
736,395 348,042

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 443,397 304,444
Trade creditors 54,972 123,601
Corporation taxation 2,341 -
Other creditors 23,000 223,100
Accrued expenses 3,500 11,191
527,210 662,336

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 478,141 4,822,658
Bank loans - 2-5 years 5,126,094 -
Bank loans more 5 yr by instal 157,990 -
5,762,225 4,822,658

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 157,990 -

Optimum Group Properties Limited (Registered number: 11895977)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 6,205,622 5,127,102

Bank loans represent amounts due to Alicia Bank and Clydesdale Bank PLC. The loans are secured by a legal charge over freehold property held by the company, together with a debenture comprising a fixed and floating charge over all property and assets of the company.

11. RESERVES
Revaluation
reserve
£   
Transfer (2,826 )

At 31 August 2024 (2,826 )

12. 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

13. 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