| Optimum Drywall Systems Limited |
| Strategic Report |
|
| The directors present their strategic report for the Year ended 31st March 2025. |
|
| Review of the business |
| Optimum Drywall Systems Ltd delivers high-quality Drylining and Firestopping services to meet the needs of our construction clients. Our success is built on the expertise and loyalty of our team, who foster strong relationships that drive repeat business. Over half of our employees have achieved long-term service milestones, reflecting the commitment that underpins our future growth and succession planning. |
|
| 2025 has been another strong year for Optimum, despite ongoing challenges in the domestic market including rising operational costs, supply chain volatility, and tightening environmental regulations. Our proactive approach has mitigated financial impacts and supported continued growth. We have further expanded our client base, secured new projects with new clients, reinforcing our market position. |
|
| To address industry unpredictability, we maintain monthly reviews of client concentration risk and use credit insurance to safeguard against insolvency. This balanced strategy has proven effective, enabling us to secure significant work with a diversified client base and positioning the business to sustain turnover and improve profitability in the years ahead. |
|
| Principal risks and uncertainties |
| Our success relies on maintaining a strong reputation for delivering exceptional service to our clients. |
|
| In 2025, we strengthened our Reputational Risk by launching a new website to improve client engagement and brand visibility. We are currently investing in a dedicated business development team to drive growth and enhance client relationships. Alongside these initiatives, we continue to monitor our media presence and competitor activity, ensuring integrity and credibility remain at the core of our operations. |
|
| IT & Cybersecurity Risk Management remains a critical priority as our digital footprint grows. In 2025, we enhanced protection by introducing multi-factor authentication (MFA) across all critical systems and deploying advanced endpoint detection and response (EDR) tools to counter evolving threats. These measures, combined with regular penetration testing and comprehensive staff training, ensure our defences remain robust. |
|
| Health and Safety is at the core of our business. We maintain exceptional standards through a full-time internal H&S department, regular training, and a strict safety culture. In 2025, we introduced a compliance reward program, matching main contractor incentives and issuing weekly breakfast vouchers. Alongside physical safety, we continue to champion mental wellbeing through dedicated ambassadors and ongoing support. |
|
| Succession planning for our employee skill base is a recognised industry risk, and we address this by equipping our workforce with the skills needed to deliver exceptional service. In 2025, we strengthened this commitment by employing more apprentices, continuing to offer comprehensive training programmes, and promoting internally to support career progression. To enhance work-life balance, we continue to provide a hybrid working model wherever possible. |
|
| In 2025, global political and policy changes continued to create uncertainty, particularly amid cost-of-living and inflation challenges. Our focus remains on identifying legislative changes early, monitoring associated risks, and implementing robust contingency plans, consulting with third-party experts when necessary. This year, we strengthened compliance efforts by continuing our work on “Right to Work” checks, expanding our commitment to Modern Slavery prevention, and introducing carbon footprint calculations to support sustainability goals across our supply chain. |
|
| Financial key performance indicators |
| In 2025, we continued to promote confidence and manage liquidity risk by maintaining strong bank reserves. Our proactive approach to credit and cash flow risk includes daily monitoring of our cash position, which remains a proven financial strength for the company. |
|
| To achieve our strategic aims, the company has identified key areas of focus and established clear Key Performance Indicators (KPIs) to measure and assess progress effectively. |
|
| Turnover for the year decreased by 7.8% to £18.0m (2024 £19.6m), Gross margins also decreased to 18% (2024: 19%). Despite these reductions, the company traded at satisfactory levels. |
|
| Working capital as a percentage of turnover increased to 5.8% from 4.3% in the previous year. This was mainly due to surplus cash remaining in the business. Debtor days decreased in the year from 78 days in 2024 to 60 days in 2025. |
|
| The accident rate in 2025 was 4.6, compared to 5.5 in 2024. The index is calculated by the number of reportable incidents by 100,000 hours worked. |
|
| Whilst these KPI's are helpful in measuring the Company's performance, it should be stressed that they are not exhaustive and that many additional performance measures are used to monitor progress. |
|
| This report was approved by the board on 2nd December 2025 and signed on its behalf. |
|
| Mr S. Britton |
| Director |
|
|
| Basis of opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
|
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
|
| Other information |
| The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. |
| We have nothing to report in this regard. |
|
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| ● |
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| ● |
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. |
|
| Matters on which we are required to report by exception |
| The extent to which the audit was considered capable of detecting irregularities including fraud is detailed below. |
| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
| -the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
| -we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the construction and contracting sector. |
| -we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, the financial reporting framework FRS 102, UK taxation legislation, UK and EU VAT rules, data protection, anti-bribery, employment, environmental and health and safety legislation; |
| -we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal, HMRC, Companies House, Board correspondence; and |
| - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We used up to date tax and legislation checklists to confirm compliance with those laws and regulations. |
| We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
| - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected alleged fraud; |
| - considering the internal controls and segregation of duties in place to mitigate risks of fraud and non-compliance with laws and regulations; |
| - using analytical procedures to identify any unusual or unexpected transactions and sampling tests to confirm material balances in the financial statements. We directed our audit procedures to those areas which we identified as particularly susceptible to misstatement due to fraud, including related parties and their transactions; |
| - considering the possibility of fraudulent or corrupt payments made through third parties and the risk of bribery and corruption occurring in the areas of the world where the entity does business; and |
| - considering the selection of appropriate accounting policies by management which do not attempt to manipulate earnings figures and the use by us of random sampling testing in our audit procedures. |
| To address the risk of fraud through management bias and override of controls, we: |
| - performed analytical procedures to identify any unusual or unexpected relationships; |
| - tested journal entries to identify unusual transactions; |
| - assessed whether judgments and assumptions made in determining any accounting estimates were indicative of potential bias; |
| - investigated the rationale behind significant or unusual transactions, including related party transactions; and |
| - considered targets and remuneration that might influence management and documented and tested the entity's systems and any weaknesses in internal controls. We identified and validated any transactions that appeared to be outside the normal course of business. |
| In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
| - agreeing financial statement disclosures to underlying supporting documentation; |
| - reading the minutes of meetings of those charged with governance; |
| - enquiring of management as to actual and potential litigation and claims; and |
| - ensuring that additional audit resting and scrutiny was carried out on any transactions or areas displaying the identified risk criteria, including discussions with our own tax specialists. |
|
| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
| Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals as a liability in the Statement of financial position. |
|
|
Going Concern |
|
Management have assessed all available information about the future of its business and are satisfied that it is appropriate that these accounts have been prepared on the going concern basis. |
|
|
Financial Instruments |
|
The Company only enters into basic financial instruments transactions that result in the recognition of financial asses and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
|
|
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate the financial asset or liability is measured, initially, at the present value of the future cash flow discounted to a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
|
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
|
|
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
|
|
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. |
|
|
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
|
|
| 2 |
Analysis of turnover |
2025 |
|
2024 |
| £ |
£ |
|
|
Revenue from construction contracts |
18,032,853 |
|
19,570,717 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
UK |
18,032,853 |
|
19,570,717 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Operating profit |
2025 |
|
2024 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
67,216 |
|
58,968 |
|
Operating lease rentals |
28,324 |
|
21,828 |
|
Auditors' remuneration for audit services |
13,500 |
|
12,900 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Directors' emoluments |
2025 |
|
2024 |
| £ |
£ |
|
|
Emoluments |
288,571 |
|
211,308 |
|
Company contributions to 6 Directors under defined contribution pension plans |
|
|
|
277,513 |
|
66,955 |
|
|
|
|
|
|
566,084 |
|
278,263 |
|
The aggregate of emoluments, excluding pension contributions of the highest paid director were £111,876 (2024: £91,118), pension contributions were £11,727 (2024: £5,803) |
|
| 5 |
Staff costs |
2025 |
|
2024 |
| £ |
£ |
|
|
Wages and salaries |
1,531,581 |
|
1,859,134 |
|
Social security costs |
179,083 |
|
245,191 |
|
Other pension costs (Defined contribution scheme) |
291,395 |
|
105,706 |
|
|
|
|
|
|
2,002,059 |
|
2,210,031 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Administration |
8 |
|
13 |
|
Operational |
42 |
|
40 |
|
|
|
|
|
|
50 |
|
53 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other operating income |
|
|
Rental income of £18,333 (2024: £20,000) was received during the year. |
|
|
| 7 |
Interest payable |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
14,451 |
|
22,655 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Taxation |
2025 |
|
2024 |
| £ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the period |
251,751 |
|
308,669 |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
(12,081) |
|
4,266 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit on ordinary activities |
239,670 |
|
312,935 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
Profit on ordinary activities before tax |
930,045 |
|
1,163,646 |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
|
25% |
|
| £ |
£ |
|
(Loss) /Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
232,511 |
|
290,912 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
6,344 |
|
12,832 |
|
Capital allowances for period in excess of depreciation |
12,896 |
|
4,925 |
|
|
Current tax charge for period |
251,751 |
|
308,669 |
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery |
|
Motor Vehicles |
|
Total |
|
|
At cost |
|
At cost |
|
At cost |
| £ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2024 |
486,010 |
|
181,752 |
|
178,995 |
|
846,757 |
|
Additions |
- |
|
20,938 |
|
- |
|
20,938 |
|
Disposals |
(60,084) |
|
(70,091) |
|
(13,000) |
|
(143,175) |
|
At 31 March 2025 |
425,926 |
|
132,599 |
|
165,995 |
|
724,520 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
220,915 |
|
152,028 |
|
117,199 |
|
490,142 |
|
Charge for the year |
15,678 |
|
15,473 |
|
36,065 |
|
67,216 |
|
On disposals |
(60,084) |
|
(64,623) |
|
(12,188) |
|
(136,895) |
|
At 31 March 2025 |
176,509 |
|
102,878 |
|
141,076 |
|
420,463 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2025 |
249,417 |
|
29,721 |
|
24,919 |
|
304,057 |
|
At 31 March 2024 |
265,095 |
|
29,724 |
|
61,796 |
|
356,615 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
The NBV of Land and buildings comprise: |
|
|
Freehold |
177,306 |
|
181,536 |
|
|
Long Leasehold >50 years |
|
|
Short Leasehold <50 years |
|
|
Leasehold improvements |
72,112 |
|
83,556 |
|
|
|
|
|
|
|
249,418 |
|
265,092 |
|
|
|
|
|
|
|
|
|
|
|
| 10 |
Stocks |
2025 |
|
2024 |
| £ |
£ |
|
|
Raw materials and consumables |
22,883 |
|
67,599 |
|
|
|
|
|
|
|
|
|
|
| 11 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
390,928 |
|
139,035 |
|
Prepayments and accrued income |
158,889 |
|
162,369 |
|
Construction contract debtors |
2,440,829 |
|
3,902,280 |
|
|
|
|
|
|
2,990,646 |
|
4,203,684 |
|
|
|
|
|
|
|
|
|
|
| 12 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank overdrafts |
113,436 |
|
277,347 |
|
Bank loans |
99,185 |
|
121,206 |
|
Trade creditors |
1,650,876 |
|
2,343,160 |
|
Other taxes and social security costs |
359,111 |
|
464,338 |
|
Other creditors |
13,982 |
|
33,322 |
|
Accruals and deferred income |
560,158 |
|
855,819 |
|
|
|
|
|
|
2,796,748 |
|
4,095,192 |
|
|
|
|
|
|
|
|
|
|
| 13 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
78,769 |
|
150,393 |
|
|
|
|
|
|
|
|
|
|
| 14 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Loans not wholly repayable within five years: |
|
Loan 1 Variable rate loan maturing January 2032 |
38,645 |
|
42,654 |
|
Loan 2 Fixed rate loan maturing January 2032 at 5.45% |
38,952 |
|
43,540 |
|
Loan 3 CBILS loan 48 month term commencing May 22 |
72,917 |
|
135,417 |
|
Loan 4 Capital on tap, variable loan, payable on demand |
27,441 |
|
49,988 |
|
|
|
|
|
|
177,955 |
|
271,599 |
|
|
|
|
|
|
|
|
|
|
Analysis of maturity of debt: |
|
Within one year or on demand |
99,185 |
|
121,206 |
|
Between one and two years |
20,330 |
|
71,794 |
|
Between two and five years |
33,984 |
|
42,270 |
|
After five years |
24,456 |
|
36,329 |
|
|
|
|
|
|
177,955 |
|
271,599 |
|
|
|
|
|
|
|
|
|
|
The bank loans and overdrafts are secured on the property and other assets of the company. |
|
| 15 |
Reconciliation of net debt |
|
|
1 April 2024 |
|
Cash flows |
|
31 March 2025 |
|
|
|
|
£ |
|
£ |
|
£ |
|
|
Cash |
658,852 |
|
169,034 |
|
827,886 |
|
|
Bank overdrafts |
(277,347) |
|
163,911 |
|
(113,436) |
|
|
Bank loans |
(271,599) |
|
93,644 |
|
(177,955) |
|
|
Net cash / (debt) |
109,906 |
|
426,589 |
|
536,495 |
|
| 16 |
Deferred taxation |
2025 |
|
2024 |
| £ |
£ |
|
|
Accelerated capital allowances |
31,688 |
|
43,769 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April |
43,769 |
|
39,503 |
|
(Credited)/charged to the profit and loss account |
(12,081) |
|
4,266 |
|
|
At 31 March |
31,688 |
|
43,769 |
|
|
|
|
|
|
|
|
|
|
|
| 17 |
Share capital |
Nominal |
|
2025 |
|
2025 |
|
2024 |
| value |
Number |
£ |
£ |
|
The authorised share capital is 1000 shares of £1 each |
|
Allotted, called up and fully paid: |
|
Ordinary shares. Each share has full rights with respect to voting, dividends and distributions. |
£1 each |
|
80 |
|
80 |
|
80 |
|
B Ordinary shares. Each share has the rights and restrictions as set out in the companies Articles of Association. |
£1 each |
|
20 |
|
20 |
|
20 |
|
|
|
|
|
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 18 |
Profit and loss account |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April |
997,296 |
|
556,089 |
|
Profit for the financial year |
690,375 |
|
850,711 |
|
Dividends |
(449,504) |
|
(409,504) |
|
|
At 31 March |
1,238,167 |
|
997,296 |
|
|
|
|
|
|
|
|
|
|
| 19 |
Dividends |
2025 |
|
2024 |
| £ |
£ |
|
|
Dividends on ordinary shares (note 18) |
449,504 |
|
409,504 |
|
|
|
|
|
|
|
|
|
|
|
| 20 |
Other financial commitments |
|
|
Total future minimum lease payments under non-cancellable operating leases: |
|
|
|
Other |
|
Other |
|
|
2025 |
|
2024 |
| £ |
£ |
|
Falling due: |
|
within one year |
66,878 |
|
31,696 |
|
within two to five years |
37,479 |
|
11,237 |
|
|
104,357 |
|
42,933 |
|
As lessor, the company leases part of its property to an unconnected business.. Amounts receivable are £18,333 (2024:£20,000), renewable on a rolling one-year lease. |
|
| 21 |
Related party transactions |
|
Balances are unsecured, repayable within one year on demand, with no interest charged. |
|
Optimum Combined Services Limited |
|
Mr S Britton and Mr M S Davies are also directors and shareholders in Optimum Combined Services Limited. The company traded with Optimum Combined Services Limited during the year with arms length commercial transactions, including a management charge between the two companies for £60,000 per annum (2024: £60,000). At the balance sheet date the company owed £Nil (2024: £Nil) to Optimum Combined Services Limited, by way of trade creditor. |
|
BCD Partnership |
|
Mr and Mrs Britton and Mr and Mrs Davies are also partners of BCD Partnership. At the balance sheet date the company was owed £Nil to BCD Partnership (2024: £1,717). |
|
Mr and Mrs Britton (Directors) |
|
Mr and Mrs Britton own the property at Unit 7A, East Park Trading Estate, which is leased to the company. Annual rent payments amount to £21,000 (2024: £21,000). Lettings are assessed at arms length. At the balance sheet date £6,300 (2024: £6,300) is owed to Mr and Mrs Britton. Mr & Mrs Britton had an overdrawn balance in their directors loan account of £131,821 at the year end (2024: in credit £9,262.) |
|
Mrs S Linton (Director) |
|
The directors loan account of Mrs S Linton was overdrawn at the year end by £11,520 (2024: £4,936). |
|
Mr & Mrs Davies (Directors) |
|
The directors loan account of Mr & Mrs Davies was overdrawn at the year end by £24,531 (2024: in credit £10,207). |
|
| 22 |
Controlling party |
|
|
The company is under the control of Mr S and Mrs J Britton by virtue of their majority shareholding. |
|
|
| 23 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
| 24 |
Legal form of entity and country of incorporation |
|
|
Optimum Drywall Systems Limited is a private company limited by shares and incorporated in England and Wales. |
|
|
| 25 |
Principal place of business |
|
|
The address of the company's principal place of business and registered office is: |
|
|
Unit 7A, Eastpark Trading Estate |
|
Gordon Road, |
|
Fishponds, |
|
Bristol. |
|
BS5 7DR |