Optima Financial Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC202196 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

OPTIMA FINANCIAL SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D N M Craik

A J Harvie

SECRETARY:

D N M Craik

REGISTERED OFFICE:

2 Bon Accord Square

Aberdeen

AB11 6DJ

REGISTERED NUMBER:

SC202196 (Scotland)

FIXED ASSETS

Tangible assets

4

9,420

12,561

CURRENT ASSETS

Debtors

5

311,263

278,845

Cash at bank and in hand

477,442

287,840

788,705

566,685

CREDITORS

Amounts falling due within one year

6

186,382

134,260

NET CURRENT ASSETS

602,323

432,425

TOTAL ASSETS LESS CURRENT LIABILITIES

611,743

444,986

PROVISIONS FOR LIABILITIES

1,177

2,588

NET ASSETS

610,566

442,398

CAPITAL AND RESERVES

Called up share capital

22,718

22,718

Share premium

21,976

21,976

Retained earnings

565,872

397,704

610,566

442,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 on 31 March 2020 and were signed on its behalf by:

D N M Craik - Director

1.	STATUTORY INFORMATION

Optima Financial Services Ltd is a private company, limited by shares , registered in Scotland. 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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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.

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 12 (2018 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2018

and 30 June 2019

100,678

DEPRECIATION

At 1 July 2018

88,117

Charge for year

3,141

At 30 June 2019

91,258

NET BOOK VALUE

At 30 June 2019

9,420

At 30 June 2018

12,561

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

32,005

42,361

Other debtors

279,258

236,484

311,263

278,845

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

64,109

33,848

Taxation and social security

52,512

64,258

Other creditors

69,761

36,154

186,382

134,260

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.