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Registered number: 10423050
OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2025
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
REGISTERED NUMBER: 10423050
BALANCE SHEET
AS AT 30 APRIL 2025
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Creditors: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 7 form part of these financial statements.
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Optimal Technologies Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office address is Fourth Dimension, Fourth Avenue, Letchworth Garden City, SG6 2TD.
The Company's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements have been prepared on a going concern basis which assumes that the Company will have adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements.
In making their assessment, the Directors have reviewed the latest available financial information at the date of signing, including trading forecasts for the remainder of the financial year and the period beyond. Business performance is reviewed monthly and the Directors acknowledge the ongoing turbulent global economic environment.
Having considered the adequacy of the Company's financial position at the time of approving the financial statements, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. On the basis of their review they are therefore satisfied that it is appropriate to prepare the financial statements on the going concern basis.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.ACCOUNTING POLICIES (CONTINUED)
Investments in subsidiaries are measured at cost less accumulated impairment.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.ACCOUNTING POLICIES (CONTINUED)
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FINANCIAL INSTRUMENTS (CONTINUED)
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Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.ACCOUNTING POLICIES (CONTINUED)
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FINANCIAL INSTRUMENTS (CONTINUED)
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Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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Optimal Technologies Limited
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(a) Fourth Dimension, Fourth Avenue, Letchworth Garden City, SG6 2TD.
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Amounts owed to group undertakings
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Amounts owed to group undertakings are unsecured, non-interest bearing and repayable on demand.
Bank loans were repaid in full during the year.
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
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Other creditors include loans of £750,000 (2024 - £750,000) owed to the directors. The directors have provided written confirmation to the Company that the loans will not be recalled within 12 months of the year end. Loans owed to directors have been subordinated to bank loans.
Historically, these loans carried interest at 10% per annum. A formal agreement has been executed with the directors to waive any entitlement to interest. Consequently, all interest previously accrued on these loans has been reversed and recorded within interest payable and similar charges for the year ended 30 April 2025.
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OPTIMAL TECHNOLOGIES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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ALLOTTED, CALLED UP AND FULLY PAID
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75 (2024 - 75) Ordinary A shares of £1.00 each
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50 (2024 - 50) Ordinary B shares of £1.00 each
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Ordinary A shares and Ordinary B shares rank pari passu.
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8.DEBENTURES AND GUARENTEES
On 27 January 2017, the Company entered into a debenture with J S Auluk, a director of the Company, acting as trustee for himself and other finance parties, as security for all present and future obligations and liabilities owed to the finance parties under a facility agreement. The debenture creates fixed and floating charges over all the assets and undertakings of the Company.
On 28 October 2019, the Company entered into a debenture with Metro Bank Plc as security for all present and future obligations and liabilities owed to Metro Bank Plc. The debenture creates fixed and floating charges over all the assets and undertakings of the Company.
The Company is party to a cross-guarantee arrangement with its subsidiary, Optimal Technologies Limited, in respect of banking facilities provided by Metro Bank Plc. Both companies within the group have guaranteed the obligations of the other company under the facility agreement. The total group borrowings subject to the cross-guarantee at the year end amounted to £650,000 (2024 - £1,103,556).
A director has provided a personal guarantee to Metro Bank Plc in respect of the Company’s banking facilities. The guarantee is capped at £500,000 plus any associated interest and costs.
The auditor's report on the financial statements for the year ended 30 April 2025 was unqualified.
The audit report was signed on 28 April 2026 by Thomas Hamilton (Senior Statutory Auditor) on behalf of PEM Audit Limited.
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