General Information
Optimise Risk Limited is a private company, limited by shares, registered in England and Wales, registration number 08393734, registration address Oltec House, 18 Beecham Court, Wigan, WN4 6PR.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
18% Reducing Balance
|
| Computer Equipment |
33% Straight Line
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 18 (2024 : 12).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Motor Vehicles |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2024 |
27,017 |
|
70,680 |
|
97,697 |
| Additions |
933 |
|
- |
|
933 |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
27,950 |
|
70,680 |
|
98,630 |
| Depreciation |
| At 01 April 2024 |
21,903 |
|
53,061 |
|
74,964 |
| Charge for year |
5,425 |
|
3,171 |
|
8,596 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
27,328 |
|
56,232 |
|
83,560 |
| Net book values |
| Closing balance as at 31 March 2025 |
622 |
|
14,448 |
|
15,070 |
| Opening balance as at 01 April 2024 |
5,114 |
|
17,619 |
|
22,733 |
The net book value of Motor Vehicles includes £ 14,448 (2024 £17,619) in respect of assets leased under finance leases or hire purchase contracts.
|
| 4. |
Share Capital
Authorised
8 Class A shares of £1.00 each
40 Class B shares of £1.00 each
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
8
Class A shares of £1.00 each |
8 |
|
8 |
|
40
Class B shares of £1.00 each |
40 |
|
40 |
|
48 |
|
48 |
|
2
|
