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 2022

End date: 31 March 2023

OPTIMAL FINANCIAL SERVICES LIMITED
Contents Page
For the year ended 31 March 2023

Statement of financial position	1
Notes to the financial statements	2

OPTIMAL FINANCIAL SERVICES LIMITED
Statement of Financial Position
As at 31 March 2023

	Notes	2023 £	2022 £
Fixed assets
Tangible fixed assets	4	141	188
		141	188
Current assets
Debtors: amounts falling due within one year		13,500	13,892
Cash at bank and in hand		31,653	11,021
		45,153	24,913
Creditors: amount falling due within one year		(10,240)	(581)
Net current assets		34,913	24,332

Total assets less current liabilities		35,054	24,520
Creditors: amount falling due after more than one year		(20,327)	(22,889)
Provisions for liabilities		(37)	0
Net assets		14,690	1,631

Capital and reserves
Called up share capital	5	100	100
Profit and loss account		14,590	1,531
Shareholder's funds		14,690	1,631

For the year ended 31 March 2023 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 director acknowledges 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 14 December 2023 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 2023

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 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

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Staff Costs

	2023 £	2022 £
Wages and salaries	25,140	19,482
Pension costs, defined contribution plan	142	0
Other staff costs	4,250	2,500
	29,532	21,982

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 (2022 : 2).

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 April 2022	2,000	2,000
Additions	-	-
Disposals	-	-
At 31 March 2023	2,000	2,000
Depreciation
At 01 April 2022	1,812	1,812
Charge for year	47	47
On disposals	-	-
At 31 March 2023	1,859	1,859
Net book values
Closing balance as at 31 March 2023	141	141
Opening balance as at 01 April 2022	188	188

Share Capital

Allotted, called up and fully paid	2023 £		2022 £
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.