Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity191falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12485747 2022-03-01 2023-02-28 12485747 2021-03-01 2022-02-28 12485747 2023-02-28 12485747 2022-02-28 12485747 c:Director1 2022-03-01 2023-02-28 12485747 d:Buildings d:ShortLeaseholdAssets 2022-03-01 2023-02-28 12485747 d:Buildings d:ShortLeaseholdAssets 2023-02-28 12485747 d:Buildings d:ShortLeaseholdAssets 2022-02-28 12485747 d:FurnitureFittings 2022-03-01 2023-02-28 12485747 d:FurnitureFittings 2023-02-28 12485747 d:FurnitureFittings 2022-02-28 12485747 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12485747 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12485747 d:CurrentFinancialInstruments 2023-02-28 12485747 d:CurrentFinancialInstruments 2022-02-28 12485747 d:Non-currentFinancialInstruments 2023-02-28 12485747 d:Non-currentFinancialInstruments 2022-02-28 12485747 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12485747 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12485747 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 12485747 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 12485747 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 12485747 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 12485747 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 12485747 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 12485747 d:ShareCapital 2023-02-28 12485747 d:ShareCapital 2022-02-28 12485747 d:RetainedEarningsAccumulatedLosses 2023-02-28 12485747 d:RetainedEarningsAccumulatedLosses 2022-02-28 12485747 c:OrdinaryShareClass1 2022-03-01 2023-02-28 12485747 c:OrdinaryShareClass1 2023-02-28 12485747 c:OrdinaryShareClass1 2022-02-28 12485747 c:FRS102 2022-03-01 2023-02-28 12485747 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12485747 c:FullAccounts 2022-03-01 2023-02-28 12485747 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12485747









OPUZ INVESTMENTS AND DEVELOPMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
REGISTERED NUMBER: 12485747

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 4 
318,009
-

  
318,009
-

Current assets
  

Stocks
  
17,035
-

Debtors: amounts falling due within one year
 5 
20,217
-

Cash at bank and in hand
 6 
200,193
100

  
237,445
100

Creditors: amounts falling due within one year
 7 
(512,861)
-

Net current (liabilities)/assets
  
 
 
(275,416)
 
 
100

Total assets less current liabilities
  
42,593
100

Creditors: amounts falling due after more than one year
 8 
(31,573)
-

  

Net assets
  
11,020
100


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
10,920
-

  
11,020
100


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
Page 1

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
REGISTERED NUMBER: 12485747
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

18 October 2023.




Ibrahim Opuz
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Opuz Investments and Development Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 12485747. The address of the registered office is 291 Green Lanes, London N13 4XS.
The principal activity of the company is that of operating a licensed restaurant business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis based on the results of the company in the period to the approval of the financial statements. Related party loans (note 12)  are also not required to be repaid within 12 months of approval of the financial statements on the understanding that they will not be repaid until a time in which the company has sufficient cash flow to do so.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of food and beverages are recorded at the point of sale.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
25 years - over the term of the lease
Fixtures and fittings
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities
Page 5

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 1).

Page 6

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total



Cost or valuation


Additions
48,745
286,036
334,781



At 28 February 2023

48,745
286,036
334,781



Depreciation


Charge for the year on owned assets
1,950
14,822
16,772



At 28 February 2023

1,950
14,822
16,772



Net book value



At 28 February 2023
46,795
271,214
318,009



At 28 February 2022
-
-
-


5.


Debtors

2023
2022


Other debtors
4,503
-

Prepayments and accrued income
5,623
-

Deferred taxation
10,091
-

20,217
-



6.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
200,193
100

200,193
100


Page 7

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Creditors: Amounts falling due within one year

2023
2022

Bank loans
9,720
-

Trade creditors
90,581
-

Other taxation and social security
50,265
-

Other creditors
350,386
-

Accruals and deferred income
11,909
-

512,861
-



8.


Creditors: Amounts falling due after more than one year

2023
2022

Bank loans
31,573
-

31,573
-



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022

Amounts falling due within one year

Bank loans
9,720
-


9,720
-

Amounts falling due 1-2 years

Bank loans
9,967
-


9,967
-

Amounts falling due 2-5 years

Bank loans
21,607
-


21,607
-


Total bank loans
41,294
-


Page 8

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Share capital

2023
2022
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

Included within Other Creditors are loans of £140,000 due to companies under the control of the immediate family members of the Director and controlling individual of the company. The loans are unsecured, free of interest and repayable on demand.

 
Page 9