Optmind Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09464842 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

Optmind Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D S Hallgarten

REGISTERED OFFICE:

Unit 25 Sarum Complex

Salisbury Road

Uxbridge

UB8 2RZ

REGISTERED NUMBER:

09464842 (England and Wales)

CURRENT ASSETS

Debtors

4

133,623

131,787

Cash at bank

3,705

1,114

137,328

132,901

CREDITORS

Amounts falling due within one year

5

45,876

33,947

NET CURRENT ASSETS

91,452

98,954

TOTAL ASSETS LESS CURRENT LIABILITIES

91,452

98,954

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

91,352

98,854

SHAREHOLDERS' FUNDS

91,452

98,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 July 2020 and were signed by:

D S Hallgarten - Director

1.	STATUTORY INFORMATION

Optmind Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Other debtors

133,623

131,787

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade creditors

-

1,200

Taxation and social security

23,053

23,053

Other creditors

22,823

9,694

45,876

33,947

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

100

Ordinary shares

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 August 2018

98,854

Deficit for the year

(3,502

)

Dividends

(4,000

)

At 31 July 2019

91,352

8.	RELATED PARTY DISCLOSURES

During the year, the company was owed £139,131 (2016: £4,800) by The Glenaden Distilling

Company Limited: a company in which Mr D Hallgarten is a director and shareholder.

9.	ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party by virtue of their shareholding.