Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.222022-04-01No description of principal activitytruetrue 04332316 2022-04-01 2023-03-31 04332316 2021-04-01 2022-03-31 04332316 2023-03-31 04332316 2022-03-31 04332316 c:Director1 2022-04-01 2023-03-31 04332316 d:FurnitureFittings 2022-04-01 2023-03-31 04332316 d:FurnitureFittings 2023-03-31 04332316 d:FurnitureFittings 2022-03-31 04332316 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04332316 d:FreeholdInvestmentProperty 2023-03-31 04332316 d:FreeholdInvestmentProperty 2022-03-31 04332316 d:CurrentFinancialInstruments 2023-03-31 04332316 d:CurrentFinancialInstruments 2022-03-31 04332316 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04332316 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04332316 d:ShareCapital 2023-03-31 04332316 d:ShareCapital 2022-03-31 04332316 d:SharePremium 2023-03-31 04332316 d:SharePremium 2022-03-31 04332316 d:RetainedEarningsAccumulatedLosses 2023-03-31 04332316 d:RetainedEarningsAccumulatedLosses 2022-03-31 04332316 c:FRS102 2022-04-01 2023-03-31 04332316 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04332316 c:FullAccounts 2022-04-01 2023-03-31 04332316 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04332316 d:OtherDeferredTax 2023-03-31 04332316 d:OtherDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 04332316









OPM HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
OPM HOLDINGS LIMITED
REGISTERED NUMBER: 04332316

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
60
80

Investment property
 5 
663,453
663,453

  
663,513
663,533

Current assets
  

Debtors: amounts falling due within one year
 6 
17
-

Cash at bank and in hand
 7 
10,203
50,216

  
10,220
50,216

Creditors: amounts falling due within one year
 8 
(79,496)
(137,338)

Net current liabilities
  
 
 
(69,276)
 
 
(87,122)

Total assets less current liabilities
  
594,237
576,411

Provisions for liabilities
  

Deferred tax
 9 
(22,971)
(22,971)

  
 
 
(22,971)
 
 
(22,971)

Net assets
  
571,266
553,440


Capital and reserves
  

Called up share capital 
  
110
110

Share premium account
  
990
990

Profit and loss account
  
570,166
552,340

  
571,266
553,440


The directors consider 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 directors acknowledge their 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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
OPM HOLDINGS LIMITED
REGISTERED NUMBER: 04332316
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2023.




S R Baker
Director

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

Page 2

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

OPM Holdings Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information of these financial statements. The company's principal activity is the develoipment and sale of real estate.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

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.

Page 4

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 2 (2022 - 2).

Page 5

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2022
1,548



At 31 March 2023

1,548



Depreciation


At 1 April 2022
1,468


Charge for the year on owned assets
20



At 31 March 2023

1,488



Net book value



At 31 March 2023
60



At 31 March 2022
80

Page 6

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
663,453



At 31 March 2023
663,453

The 2023 valuations were made by the director, on an open market value for existing use basis.



At 31 March 2023




Page 7

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Other debtors
17
-

17
-



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,203
50,216

10,203
50,216



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
33,205
42,890

Corporation tax
4,186
5,352

Other creditors
28,319
75,256

Accruals and deferred income
13,786
13,840

79,496
137,338



9.


Deferred taxation




2023


£






At beginning of year
(22,971)



At end of year
(22,971)

Page 8

 
OPM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Potential gain on disposal of indexed properties
(22,971)
(22,971)

(22,971)
(22,971)

 
Page 9