OPTIMAL FINANCIAL SERVICES LIMITED - Accounts

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 2020

End date: 31 March 2021

OPTIMAL FINANCIAL SERVICES LIMITED
Contents Page
For the year ended 31 March 2021
Report to the directors on the preparation of the unaudited statutory accounts of OPTIMAL FINANCIAL SERVICES LIMITED for the year ended 31 March 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OPTIMAL FINANCIAL SERVICES LIMITED for the year ended 31 March 2021 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/

This report is made solely to the Board of Directors of OPTIMAL FINANCIAL SERVICES LIMITED, as a body, in accordance with the terms of our engagement letter dated 29 December 2021 Our work has been undertaken solely to prepare for your approval the accounts of OPTIMAL FINANCIAL SERVICES LIMITED and state those matters that we have agreed to state to the Board of Directors of OPTIMAL FINANCIAL SERVICES LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OPTIMAL FINANCIAL SERVICES LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that OPTIMAL FINANCIAL SERVICES LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of OPTIMAL FINANCIAL SERVICES LIMITED. You consider that OPTIMAL FINANCIAL SERVICES 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 accounts of OPTIMAL FINANCIAL SERVICES 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 accounts

31 March 2021



....................................................
Oasis Accountants Limited
Office Gold Building 3, Chiswick Park 5
66 Chiswick High Road
London
W4 5YA
29 December 2021
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 251    503 
251    503 
Current assets      
Debtors: amounts falling due within one year 15,892    17,675 
Cash at bank and in hand 12,384    4,125 
28,276    21,800 
Creditors: amount falling due within one year 2,610    (16,535)
Net current assets 30,886    5,265 
 
Total assets less current liabilities 31,137    5,768 
Creditors: amount falling due after more than one year (28,841)   (4,261)
Net assets 2,296    1,507 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 2,196    1,407 
Shareholder's funds 2,296    1,507 
 


For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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 29 December 2021 and were signed by:


--------------------------------
Mr.Srisairama Krishna Nukala
Director
2
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.
1.

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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
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
2.

Staff Costs

2021   2020
 
Average number of employees during the year Number   Number
Administration 2    2 
2    2 

3.

Average number of employees

Average number of employees during the year was 2 (2020 : 2).
4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2020 2,000    2,000 
Additions -    - 
Disposals -    - 
At 31 March 2021 2,000    2,000 
Depreciation
At 01 April 2020 1,497    1,497 
Charge for year 252    252 
On disposals -    - 
At 31 March 2021 1,749    1,749 
Net book values
Closing balance as at 31 March 2021 251    251 
Opening balance as at 01 April 2020 503    503 


5.

Share Capital

Allotted, called up and fully paid
2021
£		   2020
£
100 Ordinary Shares shares of £1.00 each 100    100 
100    100 

6.

Control

Srisairama Krishna Nukala is the director and 51% shareholder and holding the ultimate controlling power.
3