Optmind Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09464842 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

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

76,253

135,118

Cash at bank

15,915

194

92,168

135,312

CREDITORS

Amounts falling due within one year

5

23,054

54,718

NET CURRENT ASSETS

69,114

80,594

TOTAL ASSETS LESS CURRENT LIABILITIES

69,114

80,594

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

69,014

80,494

SHAREHOLDERS' FUNDS

69,114

80,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 27 April 2023 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.

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 1 (2021 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Other debtors

76,253

135,118

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade creditors

-

1,104

Taxation and social security

23,053

23,053

Other creditors

1

30,561

23,054

54,718

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

100

Ordinary shares

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 August 2021

80,494

Deficit for the year

(3,480

)

Dividends

(8,000

)

At 31 July 2022

69,014

8.	RELATED PARTY DISCLOSURES

During the year, the company was owed £134,476 (2020: £132,931) 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.