OPTIMAL FINANCIAL SERVICES LIMITED - Accounts

OPTIMAL FINANCIAL SERVICES LIMITED - Company Information

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Registered Number: 06472363

England and Wales

OPTIMAL FINANCIAL SERVICES LIMITED

Abridged Accounts

Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

OPTIMAL FINANCIAL SERVICES LIMITED
Contents Page
For the year ended 31 March 2020

Statement of financial position	1
Notes to the financial statements	2

OPTIMAL FINANCIAL SERVICES LIMITED
Statement of Financial Position
As at 31 March 2020

	Notes	2020 £	2019 £
Fixed assets
Tangible fixed assets	2	503	503
		503	503
Current assets
Debtors: amounts falling due within one year		17,674	34,374
Cash at bank and in hand		4,126	5,090
		21,800	39,464
Creditors: amount falling due within one year		(16,535)	(30,637)
Net current assets		5,265	8,827

Total assets less current liabilities		5,768	9,330
Creditors: amount falling due after more than one year		(4,261)	(8,372)
Net assets		1,507	958

Capital and reserves
Called up share capital	3	100	100
Profit and loss account		1,407	858
Shareholders funds		1,507	958

For the year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts

These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 30 December 2020 and were signed by:

--------------------------------
Mr.Srisairama Krishna Nukala
Director

OPTIMAL FINANCIAL SERVICES LIMITED
Notes to the Abridged Financial Statements
For the year ended 31 March 2020

General Information

OPTIMAL FINANCIAL SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06472363, registration address North Colchester Business Centre, 340 The Crescent , Colchester, CO4 9AD

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

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

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

25 Reducing Balance

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 April 2019	2,000	2,000
Additions	-	-
Disposals	-	-
At 31 March 2020	2,000	2,000
Depreciation
At 01 April 2019	1,497	1,497
Charge for year	-	-
On disposals	-	-
At 31 March 2020	1,497	1,497
Net book values
Closing balance as at 31 March 2020	503	503
Opening balance as at 01 April 2019	503	503

Share Capital

Allotted, called up and fully paid	2020 £		2019 £
100 Ordinary Shares shares of £1.00 each	100		100
	100		100

Staff Costs

	2020	2019

Average number of employees during the year	Number	Number
Administration	2	2
	2	2

5.	Average number of employees Average number of employees during the year was 2 (2019 : 2)

6.	Control Srisairama Krishna Nukala is the director and 51% shareholder and holding the ultimate controlling power.