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Registered Number: 12162823
England and Wales

 

 

 

OPULENT PROPERTY INVESTORS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Director Mohammed Imran
Registered Number 12162823
Registered Office Suite 2A Blackthorn House
St. Pauls Square
Birmingham
B3 1RL
Accountants Companies999
Suite2A Blackthorn House
St Pauls Square
Birmingham
B3 1RL
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of OPULENT PROPERTY INVESTORS LTD for the period ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's 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://www.accaglobal.com/rulebook.

This report is made solely to the director of OPULENT PROPERTY INVESTORS LTD in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of OPULENT PROPERTY INVESTORS LTD and state those matters that we have agreed to state to the director of OPULENT PROPERTY INVESTORS LTD 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 the company and its director for our work or for this report.

It is your duty to ensure that OPULENT PROPERTY INVESTORS LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of OPULENT PROPERTY INVESTORS LTD. You consider that OPULENT PROPERTY INVESTORS LTD is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of OPULENT PROPERTY INVESTORS LTD. 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 financial statements.



....................................................
Companies999
Suite2A Blackthorn House
St Pauls Square
Birmingham
B3 1RL
09 October 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 249,356    252,081 
249,356    252,081 
Current assets      
Debtors 4 2,732    203 
Cash at bank and in hand 97    184 
2,829    387 
Creditors: amount falling due within one year 5 (12,419)   (18,261)
Net current liabilities (9,590)   (17,874)
 
Total assets less current liabilities 239,766    234,207 
Creditors: amount falling due after more than one year 6 (337,795)   (318,907)
Net liabilities (98,029)   (84,700)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (98,129)   (84,800)
Shareholder's funds (98,029)   (84,700)
 


For the year ended 31 August 2023 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 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 financial statements were approved by the director on 09 October 2023 and were signed by:


-------------------------------
Mohammed Imran
Director
3
General Information
OPULENT PROPERTY INVESTORS LTD is a private company, limited by shares, registered in England and Wales, registration number 12162823, registration address Suite 2A Blackthorn House, St. Pauls Square , Birmingham, B3 1RL.

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 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.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment 33 Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Investment properties   Total
  £   £   £
At 01 September 2022 2,383    250,494    252,877 
Additions    
Disposals   (2,200)   (2,200)
At 31 August 2023 2,383    248,294    250,677 
Depreciation
At 01 September 2022 797      797 
Charge for year 524      524 
On disposals    
At 31 August 2023 1,321      1,321 
Net book values
Closing balance as at 31 August 2023 1,062    248,294    249,356 
Opening balance as at 01 September 2022 1,586    250,495    252,081 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 2,529   
Prepayments & Accrued Income 203    203 
2,732    203 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts 4,400    4,400 
Accrued Expenses 720    960 
Other Creditors 7,299    12,901 
12,419    18,261 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bounce Back Loan 17,233    17,600 
Shawbrook Bank 117,653    117,301 
Other Creditors 75,220    75,220 
Directors' Loan Accounts 127,689    108,786 
337,795    318,907 

4