Company Registration No. SC183393 (Scotland)
Optima Employee Benefit Consultants Ltd
Unaudited accounts
for the year ended 28 February 2019
Optima Employee Benefit Consultants Ltd
Unaudited accounts
Contents
Optima Employee Benefit Consultants Ltd
Company Information
for the year ended 28 February 2019
Directors
C Scott
L Hardy
A Harvie
Secretary
J M Pritchard BA CA
Company Number
SC183393 (Scotland)
Registered Office
10 Mill Road Industrial Estate
Linlithgow
West Lothian
EH49 7SF
Accountants
Judith M Pritchard, Chartered Accountant
Accountancy & Taxation Services
9 McLauchlan Rise
Aberdour
Fife
KY3 0SS
Optima Employee Benefit Consultants Ltd
Statement of financial position
as at 28 February 2019
Tangible assets
20,971
7,470
Cash at bank and in hand
14,166
22,621
Creditors: amounts falling due within one year
(29,240)
(23,268)
Net current (liabilities)/assets
(11,531)
2,492
Total assets less current liabilities
9,440
9,962
Provisions for liabilities
Deferred tax
(1,230)
(1,419)
Called up share capital
100
100
Profit and loss account
8,110
8,443
Shareholders' funds
8,210
8,543
For the year ending 28 February 2019 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 25 March 2019.
C Scott
Director
Company Registration No. SC183393
Optima Employee Benefit Consultants Ltd
Notes to the Accounts
for the year ended 28 February 2019
Optima Employee Benefit Consultants Ltd is a private company, limited by shares, registered in Scotland, registration number SC183393. The registered office is 10 Mill Road Industrial Estate, Linlithgow, West Lothian, EH49 7SF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents commissions receivable and fees invoiced in the period.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% straight line method (leasehold improvements)
Fixtures & fittings
20% straight line method
Computer equipment
33.3% straight line method
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Optima Employee Benefit Consultants Ltd
Notes to the Accounts
for the year ended 28 February 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2018
-
2,460
1,620
7,619
11,699
Additions
16,970
-
1,653
1,224
19,847
At 28 February 2019
16,970
2,460
3,273
8,843
31,546
At 1 March 2018
-
488
644
3,097
4,229
Charge for the year
2,473
492
572
2,809
6,346
At 28 February 2019
2,473
980
1,216
5,906
10,575
At 28 February 2019
14,497
1,480
2,057
2,937
20,971
At 28 February 2018
-
1,972
976
4,522
7,470
Accrued income and prepayments
1,632
224
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
(232)
720
Loans from directors
26,692
21,482
7
Deferred taxation
2019
2018
Accelerated capital allowances
1,230
1,419
Provision at start of year
1,419
673
(Credited)/charged to the profit and loss account
(189)
746
Provision at end of year
1,230
1,419
Optima Employee Benefit Consultants Ltd
Notes to the Accounts
for the year ended 28 February 2019
Allotted, called up and fully paid:
70 Ordinary 'A' shares of £1 each
70
70
20 Ordinary 'B' shares of £1 each
20
20
10 Ordinary 'C' shares of £1 each
10
10
9
Average number of employees
During the year the average number of employees was 3 (2018: 2).
