3
31/03/2023
2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
13288579
2022-04-01
2023-03-31
13288579
2023-03-31
13288579
2022-03-31
13288579
2021-04-01
2022-03-31
13288579
2022-03-31
13288579
core:IntangibleAssetsOtherThanGoodwill
2022-04-01
2023-03-31
13288579
bus:Director1
2022-04-01
2023-03-31
13288579
core:IntangibleAssetsOtherThanGoodwill
2023-03-31
13288579
core:FurnitureFittingsToolsEquipment
2022-03-31
13288579
core:FurnitureFittingsToolsEquipment
2023-03-31
13288579
core:WithinOneYear
2023-03-31
13288579
core:WithinOneYear
2022-03-31
13288579
core:ShareCapital
2021-04-01
2022-03-31
13288579
core:RetainedEarningsAccumulatedLosses
2021-04-01
2022-03-31
13288579
core:ShareCapital
2022-04-01
2023-03-31
13288579
core:SharePremium
2022-04-01
2023-03-31
13288579
core:RetainedEarningsAccumulatedLosses
2022-04-01
2023-03-31
13288579
core:AfterOneYear
2023-03-31
13288579
core:ShareCapital
2023-03-31
13288579
core:ShareCapital
2022-03-31
13288579
core:SharePremium
2023-03-31
13288579
core:RetainedEarningsAccumulatedLosses
2023-03-31
13288579
core:RetainedEarningsAccumulatedLosses
2022-03-31
13288579
bus:OrdinaryShareClass1
core:ShareCapital
2022-03-31
13288579
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
13288579
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-03-31
13288579
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
13288579
core:Non-currentFinancialInstruments
2023-03-31
13288579
core:FurnitureFittingsToolsEquipment
2022-03-31
13288579
bus:SmallEntities
2022-04-01
2023-03-31
13288579
bus:AuditExempt-NoAccountantsReport
2022-04-01
2023-03-31
13288579
bus:FullAccounts
2022-04-01
2023-03-31
13288579
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
13288579
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
13288579
bus:OrdinaryShareClass1
2022-04-01
2023-03-31
Registrar
Company registration number:
13288579
Opus Safety Ltd
Unaudited filleted financial statements
31 March 2023
Opus Safety Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Opus Safety Ltd
Statement of financial position
31 March 2023
|
|
|
31/03/23 |
|
|
|
31/03/22 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
535,530 |
|
|
|
- |
|
|
Tangible assets |
|
6 |
15,099 |
|
|
|
1,993 |
|
|
Investments |
|
7 |
1,384,810 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,935,439 |
|
|
|
1,993 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
8 |
96,872 |
|
|
|
7,137 |
|
|
Cash at bank and in hand |
|
|
143,407 |
|
|
|
78,814 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
240,279 |
|
|
|
85,951 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
474,130) |
|
|
|
(
95,486) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
233,851) |
|
|
|
(
9,535) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,701,588 |
|
|
|
(
7,542) |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
10 |
|
|
(
1,367,966) |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets/(liabilities) |
|
|
|
|
333,622 |
|
|
|
(
7,542) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
11 |
|
|
7 |
|
|
|
1 |
Share premium account |
|
|
|
|
430,019 |
|
|
|
- |
Profit and loss account |
|
|
|
|
(
96,404) |
|
|
|
(
7,543) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds/(deficit) |
|
|
|
|
333,622 |
|
|
|
(
7,542) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
11 September 2023
, and are signed on behalf of the board by:
Mr John Robert Southall
Director
Company registration number:
13288579
Opus Safety Ltd
Statement of changes in equity
Period ended 31 March 2023
|
|
Called up share capital |
Share premium account |
|
Profit and loss account |
Total |
|
|
|
|
|
|
£ |
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 24 March 2021 |
|
- |
- |
|
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period |
|
|
|
|
(
7,543) |
(
7,543) |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total comprehensive income for the period |
|
- |
- |
|
(
7,543) |
(
7,543) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
1 |
- |
|
|
1 |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total investments by and distributions to owners |
|
1 |
- |
|
- |
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
At 31 March 2022 and 1 April 2022 |
|
1 |
- |
|
(
7,543) |
(
7,542) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period |
|
|
|
|
(
88,861) |
(
88,861) |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total comprehensive income for the period |
|
- |
- |
|
(
88,861) |
(
88,861) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
6 |
430,019 |
|
|
430,025 |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total investments by and distributions to owners |
|
6 |
430,019 |
|
- |
430,025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
At 31 March 2023 |
|
7 |
430,019 |
|
(
96,404) |
333,622 |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Opus Safety Ltd
Notes to the financial statements
Period ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office and business address is Opus Safety Ltd, 16 Sharmans Cross Road, Solihull, West Midlands, B91 1RG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity and have been rounded to the nearest £1
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Combined other intangible assets |
- |
22.11 % |
reducing balance |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment
- 25
%
reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors and creditors receivable or payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
3
(2022: Nil).
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2022 |
- |
- |
|
|
|
|
|
Additions |
559,203 |
559,203 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
559,203 |
559,203 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2022 |
- |
- |
|
|
|
|
|
Charge for the period |
23,673 |
23,673 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
23,673 |
23,673 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
535,530 |
535,530 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 |
2,657 |
2,657 |
|
|
|
|
|
|
Additions |
18,139 |
18,139 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 March 2023 |
20,796 |
20,796 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
664 |
664 |
|
|
|
|
|
|
Charge for the year |
5,033 |
5,033 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 March 2023 |
5,697 |
5,697 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
15,099 |
15,099 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 March 2022 |
1,993 |
1,993 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2022 |
- |
- |
|
|
|
|
|
Additions |
1,384,810 |
1,384,810 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
1,384,810 |
1,384,810 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
1,384,810 |
1,384,810 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
31/03/23 |
31/03/22 |
|
|
|
£ |
£ |
|
Trade debtors |
|
96,872 |
6,200 |
|
Other debtors |
|
- |
937 |
|
|
|
_______ |
_______ |
|
|
|
96,872 |
7,137 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
31/03/23 |
31/03/22 |
|
|
|
£ |
£ |
|
Trade creditors |
|
165,755 |
93,286 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
248,570 |
- |
|
Social security and other taxes |
|
32,286 |
- |
|
Other creditors |
|
27,519 |
2,200 |
|
|
|
_______ |
_______ |
|
|
|
474,130 |
95,486 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Creditors: amounts falling due after more than one year
|
|
|
31/03/23 |
31/03/22 |
|
|
|
£ |
£ |
|
Other creditors |
|
1,367,966 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
Included in other creditors is a loan from FDC General Partner Limited, Birmingham City Council as security agent for the loan hold a fixed and floating charge over all the assets of the company by way of a debenture dated 17 January 2023.
11.
Called up share capital
Issued, called up and fully paid
|
|
|
31/03/23 |
|
|
|
31/03/22 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £1 |
|
- |
|
- |
|
1 |
|
1 |
|
A Ordinary shares of £ 0.000001 each |
|
3,688,172 |
|
3 |
|
- |
|
- |
|
B Ordinary shares of £ 0.000001 each |
|
1,946,530 |
|
2 |
|
- |
|
- |
|
C Ordinary shares of £ 0.000001 each |
|
1,024,492 |
|
1 |
|
- |
|
- |
|
D Ordinary shares of £ 0.000001 each |
|
170,749 |
|
1 |
|
- |
|
- |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
6,829,943 |
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7 |
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1 |
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1 |
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_______ |
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