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REGISTERED NUMBER: OC381479 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

OPUS RESTRUCTURING LLP

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

General Information 1

Income Statement 2

Balance Sheet 3

Notes to the Financial Statements 5


OPUS RESTRUCTURING LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DESIGNATED MEMBERS: T Binyon
T Dolder
S Parker
J Rolls
C Wilson





REGISTERED OFFICE: 2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: OC381479 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2023

2023 2022
Notes £    £   

TURNOVER 10,325,914 5,160,643

Cost of sales 3,698,872 3,190,781
GROSS PROFIT 6,627,042 1,969,862

Administrative expenses 2,138,605 1,762,057
4,488,437 207,805

Other operating income 208,256 93,228
OPERATING PROFIT 4 4,696,693 301,033


Interest payable and similar expenses - 1,484
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


4,696,693


299,549

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


4,696,693


299,549

Associate Members' charged as an
expense

5

(1,906,574

)

(1,016,581

)
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS



2,790,119



(717,032



)

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - 24,000
Tangible assets 7 105,538 72,029
105,538 96,029

CURRENT ASSETS
Stocks 1,180,083 1,081,428
Debtors 8 738,289 1,491,509
Cash at bank and in hand 1,492,484 137,744
3,410,856 2,710,681
CREDITORS
Amounts falling due within one year 9 3,310,231 2,806,710
NET CURRENT ASSETS/(LIABILITIES) 100,625 (96,029 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

206,163

-

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

206,163

-

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 206,163 -
Amounts due from members 8 - (1,000,157 )
206,163 (1,000,157 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

BALANCE SHEET - continued
30 APRIL 2023


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

The financial statements were approved by the members of the LLP and authorised for issue on 6 October 2023 and were signed by:





T Binyon - Designated member

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Opus Restructuring LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees, including members with contracts of employment, during the year was 70 (2022 - 63 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 24,365 18,520
Goodwill amortisation 24,000 36,000

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. INFORMATION IN RELATION TO MEMBERS
2023 2022
£    £   
Associate Members' charged as an expense
Remuneration paid under an employment
contract

1,906,574

1,016,581

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 180,000
AMORTISATION
At 1 May 2022 156,000
Amortisation for year 24,000
At 30 April 2023 180,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 24,000

7. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 May 2022 142,483 1,988 144,471
Additions 56,186 1,688 57,874
At 30 April 2023 198,669 3,676 202,345
DEPRECIATION
At 1 May 2022 71,572 870 72,442
Charge for year 24,050 315 24,365
At 30 April 2023 95,622 1,185 96,807
NET BOOK VALUE
At 30 April 2023 103,047 2,491 105,538
At 30 April 2022 70,911 1,118 72,029

OPUS RESTRUCTURING LLP (REGISTERED NUMBER: OC381479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 484,268 306,843
Amounts owed by participating interests - 15,059
Other debtors 254,021 1,169,607
738,289 1,491,509

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 823,020 1,819,097
Trade creditors 148,247 300,598
Amounts owed to group undertakings 1,367 143,511
Taxation and social security 355,047 375,508
Other creditors 1,982,550 167,996
3,310,231 2,806,710

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank
equally with unsecured creditors.