Optima Warehouse Solutions Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04215218 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

OPTIMA WAREHOUSE SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

C J Roberts

N Bennett

Mrs D E Roberts

Mrs S A Bennett

SECRETARY:

C J Roberts

REGISTERED OFFICE:

St Albans House

St Albans Road

Stafford

Staffordshire

ST16 3DP

REGISTERED NUMBER:

04215218 (England and Wales)

ACCOUNTANTS:

CHEADLES

Chartered Accountants

Telegraph House

59 Wolverhampton Road

Stafford

Staffordshire

ST17 4AW

FIXED ASSETS

Tangible assets

4

18,886

27,058

CURRENT ASSETS

Debtors

5

58,807

52,518

Cash at bank

34,598

67,919

93,405

120,437

CREDITORS

Amounts falling due within one year

6

60,737

45,319

NET CURRENT ASSETS

32,668

75,118

TOTAL ASSETS LESS CURRENT LIABILITIES

51,554

102,176

CAPITAL AND RESERVES

Called up share capital

210

10

Retained earnings

51,344

102,166

SHAREHOLDERS' FUNDS

51,554

102,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 September 2023 and were signed on its behalf by:

C J Roberts - Director

1.	STATUTORY INFORMATION

Optima Warehouse Solutions 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.

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

50% on cost and 20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost and 33% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

2,509

24,529

9,000

74,886

110,924

Additions

-

-

-

3,218

3,218

Disposals

-

-

-

(33,777

)

(33,777

)

At 31 March 2023

2,509

24,529

9,000

44,327

80,365

DEPRECIATION

At 1 April 2022

554

17,006

1,406

64,900

83,866

Charge for year

501

2,217

2,250

6,422

11,390

Eliminated on disposal

-

-

-

(33,777

)

(33,777

)

At 31 March 2023

1,055

19,223

3,656

37,545

61,479

NET BOOK VALUE

At 31 March 2023

1,454

5,306

5,344

6,782

18,886

At 31 March 2022

1,955

7,523

7,594

9,986

27,058

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

56,903

49,049

Other debtors

1,904

3,469

58,807

52,518

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

19,207

4,782

Taxation and social security

35,730

35,909

Other creditors

5,800

4,628

60,737

45,319

7.	ULTIMATE CONTROLLING PARTY

The Company is under the control of the directors Mr N Bennett and Mr C Roberts, who own 30% and 40% respectively of the voting share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Optima Warehouse Solutions Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Optima Warehouse Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Optima Warehouse Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Optima Warehouse Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Optima Warehouse Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Optima Warehouse Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Optima Warehouse Solutions Limited. You consider that Optima Warehouse Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Optima Warehouse Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

CHEADLES

Chartered Accountants

Telegraph House

59 Wolverhampton Road

Stafford

Staffordshire

ST17 4AW

20 September 2023