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Company Registration No. SC346607 (Scotland)
Optimal Financial Solutions Ltd Abbreviated accounts for the year ended 31 December 2024
Optimal Financial Solutions Ltd Abbreviated accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Optimal Financial Solutions Ltd Company Information for the year ended 31 December 2024
Directors
T J Price Lesley A Price
Company Number
SC346607 (Scotland)
Registered Office
64 Edgehead Road Edgehead Pathhead Midlothian EH37 5RJ
Accountants
Rosebery Accountants & Business Advisors 23 Melville Street Edinburgh EH3 7PE
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Optimal Financial Solutions Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
70,156 
12,117 
Current assets
Debtors
5
43,266 
36,131 
Cash at bank and in hand
48,596 
9,913 
91,862 
46,044 
Creditors: amounts falling due within one year
6
(47,570)
(17,077)
Net current assets
44,292 
28,967 
Total assets less current liabilities
114,448 
41,084 
Creditors: amounts falling due after more than one year
7
(2,928)
(8,956)
Provisions for liabilities
Other provisions
(42,500)
- 
Net assets
69,020 
32,128 
Capital and reserves
Called up share capital
1,800 
1,800 
Profit and loss account
67,220 
30,328 
Shareholders' funds
69,020 
32,128 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by
T J Price Director Company Registration No. SC346607
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Optimal Financial Solutions Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Optimal Financial Solutions Ltd is a private company, limited by shares, registered in Scotland, registration number SC346607. The registered office is 64 Edgehead Road, Edgehead, Pathhead, Midlothian, EH37 5RJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
- 
11,527 
25,875 
37,402 
Additions
2,864 
62,814 
15,746 
81,424 
At 31 December 2024
2,864 
74,341 
41,621 
118,826 
Depreciation
At 1 January 2024
- 
8,765 
16,520 
25,285 
Charge for the year
716 
16,394 
6,275 
23,385 
At 31 December 2024
716 
25,159 
22,795 
48,670 
Net book value
At 31 December 2024
2,148 
49,182 
18,826 
70,156 
At 31 December 2023
- 
2,762 
9,355 
12,117 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
43,266 
32,446 
Amounts falling due after more than one year
Other debtors
- 
3,685 
- 5 -
Optimal Financial Solutions Ltd Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,413 
5,875 
Obligations under finance leases and hire purchase contracts
28,597 
- 
Taxes and social security
11,606 
9,733 
Other creditors
153 
153 
Loans from directors
- 
515 
Accruals
801 
801 
47,570 
17,077 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,928 
8,956 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's loan account
3,685 
- 
1,000 
2,685 
Director's loan account
(515)
8,650 
- 
8,135 
3,170 
8,650 
1,000 
10,820 
The directors' loans are interest free and have no set terms of repayment. Balances in parentheses indicate a balance owed by the company to the director.
9
Transactions with related parties
At the end of the financial year the company was owed £32,446 (2023 - £32,446) by Tim Price Associates, a firm in which the company's directors are both partners. This loan is interest free and has no set terms of repayment.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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