OPTIMUM VEHICLES LIMITED

OPTIMUM VEHICLES LIMITED

OPTIMUM VEHICLES LIMITED - Company Information

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OPTIMUM VEHICLES LIMITED

Company Registration Number:
06484557 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2020

Period of accounts

Start date: 01 March 2019

End date: 28 February 2020

OPTIMUM VEHICLES LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2020

Balance sheet
Notes

OPTIMUM VEHICLES LIMITED

Balance sheet

As at 28 February 2020


Notes
2020
2019


£
£
Fixed assets
Intangible assets: 3 596 596
Tangible assets: 4 53,147 107,636
Total fixed assets: 53,743 108,232
Current assets
Stocks: 2,234,952 2,004,958
Debtors:   854,052 273,334
Cash at bank and in hand: 64,716 89,661
Total current assets: 3,153,720 2,367,953
Creditors: amounts falling due within one year:   (2,934,026) (2,097,797)
Net current assets (liabilities): 219,694 270,156
Total assets less current liabilities: 273,437 378,388
Creditors: amounts falling due after more than one year:   (28,396) (123,959)
Total net assets (liabilities): 245,041 254,429
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 245,039 254,427
Shareholders funds: 245,041 254,429

The notes form part of these financial statements

OPTIMUM VEHICLES LIMITED

Balance sheet statements

For the year ending 28 February 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 February 2021
and signed on behalf of the board by:

Name: P Sanderson
Status: Director

The notes form part of these financial statements

OPTIMUM VEHICLES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable excluding value added tax.

Tangible fixed assets and depreciation policy

Depreciation is provided at 25% on a reducing balance basis in order to write off each asset over its estimated useful life.

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation.

OPTIMUM VEHICLES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2020

2. Employees

2020 2019
Average number of employees during the period 22 22

OPTIMUM VEHICLES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2020

3. Intangible Assets

Total
Cost £
At 01 March 2019 596
At 28 February 2020 596
Amortisation
At 01 March 2019 0
At 28 February 2020 0
Net book value
At 28 February 2020 596
At 28 February 2019 596

OPTIMUM VEHICLES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2020

4. Tangible Assets

Total
Cost £
At 01 March 2019 214,682
Additions 8,409
Disposals (79,509)
At 28 February 2020 143,582
Depreciation
At 01 March 2019 107,046
Charge for year 17,914
On disposals (34,525)
At 28 February 2020 90,435
Net book value
At 28 February 2020 53,147
At 28 February 2019 107,636