REGISTERED NUMBER: 06740713 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 NOVEMBER 2024

FOR

OPTIMAL SOLICITORS LTD

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

83,015

89,928

CURRENT ASSETS

Debtors

5

1,592,597

3,027,125

Cash at bank

1,410,285

844,584

3,002,882

3,871,709

CREDITORS

Amounts falling due within one year

6

1,822,000

2,100,985

NET CURRENT ASSETS

1,180,882

1,770,724

TOTAL ASSETS LESS CURRENT LIABILITIES

1,263,897

1,860,652

CREDITORS

Amounts falling due after more than one year

7

(143,552

)

(236,111

)

PROVISIONS FOR LIABILITIES

10

(21,377

)

(21,377

)

NET ASSETS

1,098,968

1,603,164

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,098,868

1,603,064

SHAREHOLDERS' FUNDS

1,098,968

1,603,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

Mr P P Oltuszyk - Director

1.	STATUTORY INFORMATION

Optimal Solicitors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06740713

Registered office:

Fortunata House Wellington Road

Eccles

Manchester

M30 0DR

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Preparation of consolidated financial statements

The financial statements contain information about Optimal Solicitors Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. Revenue is recognised when services are rendered to the customers.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 20% on reducing balance and 15-20% straight line

Leasehold improvements - straight line over the term of the lease

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

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.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

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.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2023 - 80 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 30 November 2023

4,420

237,191

241,611

Additions

-

24,792

24,792

At 29 November 2024

4,420

261,983

266,403

DEPRECIATION

At 30 November 2023

-

151,683

151,683

Charge for year

884

30,821

31,705

At 29 November 2024

884

182,504

183,388

NET BOOK VALUE

At 29 November 2024

3,536

79,479

83,015

At 29 November 2023

4,420

85,508

89,928

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,379,484

1,983,411

Other debtors

213,113

1,043,714

1,592,597

3,027,125

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

90,271

83,334

Hire purchase contracts and finance leases (see note 8)

18,985

28,098

Trade creditors

1,377,058

1,632,581

Taxation and social security

243,051

323,870

Other creditors

92,635

33,102

1,822,000

2,100,985

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

143,552

236,111

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2024

2023

2024

2023

£

£

£

£

Net obligations repayable:

Within one year

9,113

9,113

9,872

18,985

Non-cancellable

operating leases

2024

2023

£

£

Within one year

60,000

60,000

Between one and five years

235,000

235,000

295,000

295,000

The lease relates to the business premises.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

233,823

319,445

The bank loan is secured by way of a negative pledge, a fixed charge and a floating charge over all the property or undertaking of the company. The company has also provided a cross guarantee for a loan by a connected party, and it has been secured by way of a fixed charge and it also contains a negative pledge.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

21,377

21,377

Deferred

tax

£

Balance at 30 November 2023

21,377

Balance at 29 November 2024

21,377

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, loans advanced to the director amounted to Nil (2023: £63,827). Interest at 2.25% was charged on any overdrawn amounts during the year.

12.	RELATED PARTY DISCLOSURES

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.