Optima Wear Ltd - Filleted accounts


Registered number
13332859
Optima Wear Ltd
Filleted Accounts
31 January 2025
Optima Wear Ltd
Registered number: 13332859
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Current assets
Debtors 3 7,020 12,255
Cash at bank and in hand 1,191 148,248
8,211 160,503
Creditors: amounts falling due within one year 4 (7,911) (25,805)
Net current assets 300 134,698
Total assets less current liabilities 300 134,698
Creditors: amounts falling due after more than one year 5 - (100,000)
Net book value 300 34,698
Capital and reserves
Called up share capital 300 300
Profit and loss account - 34,398
Shareholders' funds 300 34,698
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kevin Alexander Gall
Director
Approved by the board on 1 February 2025
Optima Wear Ltd
Notes to the Accounts
for the period from 1 July 2024 to 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price.
Taxation
A current tax liability\repayment is recognised for the tax payable\receivable on the taxable profit\loss of the current and past periods.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 4
3 Debtors 2025 2024
£ £
Trade debtors - 4,800
Value Added Tax refund - 7,455
Corporation Tax refund 6,507 -
PAYE refund 513 -
7,020 12,255
4 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 3,000 13,000
Directors' loan accounts 4,911 3,445
Taxation and social security costs - 9,360
7,911 25,805
5 Creditors: amounts falling due after one year 2025 2024
£ £
Loan from related party - 100,000
6 Other information
Optima Wear Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Adelaide Row
Seaham
Co. Durham
SR7 7EF
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