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COMPANY REGISTRATION NUMBER: 08070365
OPITEC LIMITED
FILLETED FINANCIAL STATEMENTS
31 December 2021
OPITEC LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
Current assets
Debtors
4
21,485
Cash at bank and in hand
44,627
----
---------
66,112
Creditors: amounts falling due within one year
5
97,947
155,600
---------
----------
Net current liabilities
97,947
89,488
---------
---------
Total assets less current liabilities
( 97,947)
( 89,488)
---------
---------
Net liabilities
( 97,947)
( 89,488)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 98,047)
( 89,588)
---------
---------
Shareholders deficit
( 97,947)
( 89,488)
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 31 August 2022 , and are signed on behalf of the board by:
Mr L Fleckenstein
Director
Company registration number: 08070365
OPITEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have not been prepared on the going concern basis as the company discontinued its operations at 31 December 2021.
Revenue recognition
Turnover represents the amounts invoiced by the company for goods provided in the normal course of business, excluding value added tax. Turnover is recognised at the point when all the risks and rewards of ownership are transferred to the customer; normally this is on despatch.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2021
2020
£
£
Trade debtors
20,227
Other debtors
1,258
----
---------
21,485
----
---------
5. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
115,969
Amounts owed to group undertakings and undertakings in which the company has a participating interest
97,947
27,718
Social security and other taxes
7,121
Other creditors
4,792
---------
----------
97,947
155,600
---------
----------
6. Summary audit opinion
The auditor's report for the year dated 31 August 2022 was unqualified.
The senior statutory auditor was Charles Homan , for and on behalf of UHY Hacker Young (S.E.) Limited .
7. Related party transactions
The company was under the control of its parent company, Opitec (Schweiz) AG, a company incorporated in Germany.Opitec (Schweiz) AG principal place of business is Route Henri Pestalozzi 1, Fribourg,1700, Switzerland. The ultimate controlling party is Mr L Fleckenstein . Mr L Fleckenstein is the sole shareholder of the ultimate parent company, Fleckenstein Beratungs und Beteiligungs GmbH, a company incorporated in Germany. The company discontinued its operations as at 31 December 2021.
8. Controlling party
The company's ultimate parent company is Fleckenstein Beratungs und Beteiligungs GmbH, a company registered in Germany.