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 2021

Period of accounts

Start date: 29 February 2020

End date: 28 February 2021

OPTIMUM VEHICLES LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2021

Balance sheet
Notes

OPTIMUM VEHICLES LIMITED

Balance sheet

As at 28 February 2021


Notes
2021
2020


£
£
Fixed assets
Intangible assets: 3 596 596
Tangible assets: 4 136,402 53,147
Total fixed assets: 136,998 53,743
Current assets
Stocks: 3,304,305 2,234,952
Debtors:   333,960 854,052
Cash at bank and in hand: 37,416 64,716
Total current assets: 3,675,681 3,153,720
Creditors: amounts falling due within one year:   (3,314,315) (2,934,026)
Net current assets (liabilities): 361,366 219,694
Total assets less current liabilities: 498,364 273,437
Creditors: amounts falling due after more than one year:   (279,545) (28,396)
Total net assets (liabilities): 218,819 245,041
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 218,817 245,039
Shareholders funds: 218,819 245,041

The notes form part of these financial statements

OPTIMUM VEHICLES LIMITED

Balance sheet statements

For the year ending 28 February 2021 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 30 November 2021
and signed on behalf of the board by:

Name: P E 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 2021

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 taxation.

Tangible fixed assets and depreciation policy

Depreciation is provided at 20% 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 2021

2. Employees

2021 2020
Average number of employees during the period 22 22

OPTIMUM VEHICLES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

3. Intangible Assets

Total
Cost £
At 29 February 2020 596
At 28 February 2021 596
Amortisation
At 29 February 2020 0
Charge for year 0
At 28 February 2021 0
Net book value
At 28 February 2021 596
At 28 February 2020 596

OPTIMUM VEHICLES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

4. Tangible Assets

Total
Cost £
At 29 February 2020 143,582
Additions 120,360
Disposals (9,495)
At 28 February 2021 254,447
Depreciation
At 29 February 2020 90,435
Charge for year 34,100
On disposals (6,490)
At 28 February 2021 118,045
Net book value
At 28 February 2021 136,402
At 28 February 2020 53,147