Registered number
04026260
OPC Assessment Limited
Unaudited Filleted Accounts
31 July 2023
OPC Assessment Limited
Registered number: 04026260
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 71,864 153,503
Cash at bank and in hand 1,003,677 811,827
1,075,541 965,330
Creditors: amounts falling due within one year 5 (208,684) (148,475)
Net current assets 866,857 816,855
Net assets 866,857 816,855
Capital and reserves
Called up share capital 666 666
Capital redemption reserve 6 333 333
Profit and loss account 865,858 815,856
Shareholders' funds 866,857 816,855
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J D Lawrence
Director
Approved by the board on 7 February 2024
OPC Assessment Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The accounts are presented in Sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 August 2022 29,896
At 31 July 2023 29,896
Depreciation
At 1 August 2022 29,896
At 31 July 2023 29,896
Net book value
At 31 July 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 45,483 140,517
Other debtors 26,381 12,986
71,864 153,503
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 14,246 18,461
Taxation and social security costs 177,396 95,243
Other creditors 17,042 34,771
208,684 148,475
6 Capital redemption reserve 2023 2022
£ £
At 1 August 2022 333 333
At 31 July 2023 333 333
7 Other information
OPC Assessment Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Wellstones
Watford
Hertfordshire
WD17 2AE
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