Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-30false2021-12-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10544333 2021-12-01 2022-11-30 10544333 2020-12-01 2021-11-30 10544333 2022-11-30 10544333 2021-11-30 10544333 c:Director1 2021-12-01 2022-11-30 10544333 d:FreeholdInvestmentProperty 2022-11-30 10544333 d:FreeholdInvestmentProperty 2021-11-30 10544333 d:CurrentFinancialInstruments 2022-11-30 10544333 d:CurrentFinancialInstruments 2021-11-30 10544333 d:Non-currentFinancialInstruments 2022-11-30 10544333 d:Non-currentFinancialInstruments 2021-11-30 10544333 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 10544333 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 10544333 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 10544333 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-11-30 10544333 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 10544333 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-11-30 10544333 d:ShareCapital 2022-11-30 10544333 d:ShareCapital 2021-11-30 10544333 d:RetainedEarningsAccumulatedLosses 2022-11-30 10544333 d:RetainedEarningsAccumulatedLosses 2021-11-30 10544333 c:FRS102 2021-12-01 2022-11-30 10544333 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 10544333 c:FullAccounts 2021-12-01 2022-11-30 10544333 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 10544333 2 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 10544333









OPTI PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2022

 
OPTI PROPERTY LIMITED
REGISTERED NUMBER: 10544333

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
549,384
549,384

  
549,384
549,384

Current assets
  

Debtors: amounts falling due within one year
 5 
2
2

Bank and cash balances
  
78,675
60,668

  
78,677
60,670

Creditors: amounts falling due within one year
 6 
(169,306)
(169,946)

Net current liabilities
  
 
 
(90,629)
 
 
(109,276)

Total assets less current liabilities
  
458,755
440,108

Creditors: amounts falling due after more than one year
 7 
(331,719)
(345,291)

  

Net assets
  
127,036
94,817


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
127,034
94,815

  
127,036
94,817


Page 1

 
OPTI PROPERTY LIMITED
REGISTERED NUMBER: 10544333
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2022

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 2 November 2023.




R Stitcher
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

Opti Property Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 38 Cromwell Road, Luton, England, LU3 1DN.

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

Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company and the currency in which the financial statements are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.3

Revenue

Turnover comprises rent receivable in connection with the company's investment property. 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.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to related parties.

Page 3

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Borrowing costs

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

 
2.12

Taxation

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 reporting date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2021
549,384



At 30 November 2022
549,384

The 2022 valuations were made by the director, on an open market value for existing use basis.




Page 4

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

5.


Debtors

2022
2021
£
£


Other debtors
2
2

2
2



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
18,675
18,156

Amounts owed to group undertakings
134,023
132,823

Corporation tax
15,108
18,187

Accruals and deferred income
1,500
780

169,306
169,946



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
331,719
345,291

331,719
345,291


The following liabilities were secured:




Details of security provided:

The bank loan was secured by way of a fixed and floating charge over the assets of the company.

Page 5

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
18,675
18,156


18,675
18,156

Amounts falling due 1-2 years

Bank loans
19,208
18,673


19,208
18,673

Amounts falling due 2-5 years

Bank loans
60,988
59,290


60,988
59,290

Amounts falling due after more than 5 years

Bank loans
251,523
267,328

251,523
267,328

350,394
363,447



9.


Related party transactions

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.


10.


Controlling party

The ultimate controlling party is Principle Capital Limited.

 
Page 6