IRIS Accounts Production v23.3.0.418 13230603 Board of Directors 30.4.23 1.5.22 30.4.23 30.4.23 true true true false true true true true false false false true false Fair value model A Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure132306032022-04-30132306032023-04-30132306032022-05-012023-04-30132306032021-04-30132306032021-05-012022-04-30132306032022-04-3013230603ns16:EnglandWales2022-05-012023-04-3013230603ns15:PoundSterling2022-05-012023-04-3013230603ns11:Director12022-05-012023-04-3013230603ns11:Consolidated2023-04-3013230603ns11:ConsolidatedGroupCompanyAccounts2022-05-012023-04-3013230603ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3013230603ns11:FRS102ns11:Consolidated2022-05-012023-04-3013230603ns11:Auditedns11:Consolidated2022-05-012023-04-3013230603ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-05-012023-04-3013230603ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-05-012023-04-3013230603ns11:Consolidatedns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-05-012023-04-3013230603ns11:LargeMedium-sizedCompaniesRegimeForAccountsns11:Consolidated2022-05-012023-04-3013230603ns11:FullAccounts2022-05-012023-04-3013230603ns6:Subsidiary12022-05-012023-04-3013230603ns6:Subsidiary22022-05-012023-04-301323060312022-05-012023-04-3013230603ns11:OrdinaryShareClass22022-05-012023-04-3013230603ns11:OrdinaryShareClass32022-05-012023-04-3013230603ns11:Consolidated2022-05-012023-04-3013230603ns11:Director22022-05-012023-04-3013230603ns11:RegisteredOffice2022-05-012023-04-3013230603ns11:Consolidated2021-05-012022-04-3013230603ns6:CurrentFinancialInstruments2023-04-3013230603ns6:CurrentFinancialInstruments2022-04-3013230603ns6:ShareCapital2023-04-3013230603ns6:ShareCapital2022-04-3013230603ns6:FurtherSpecificReserve1ComponentTotalEquity2023-04-3013230603ns6:FurtherSpecificReserve1ComponentTotalEquity2022-04-3013230603ns6:RetainedEarningsAccumulatedLosses2023-04-3013230603ns6:RetainedEarningsAccumulatedLosses2022-04-3013230603ns6:ShareCapital2021-04-3013230603ns6:RetainedEarningsAccumulatedLosses2021-04-3013230603ns6:FurtherSpecificReserve1ComponentTotalEquity2021-04-3013230603ns6:ShareCapital2021-05-012022-04-3013230603ns6:RetainedEarningsAccumulatedLosses2021-05-012022-04-3013230603ns6:FurtherSpecificReserve1ComponentTotalEquity2021-05-012022-04-3013230603ns6:RetainedEarningsAccumulatedLosses2022-05-012023-04-3013230603ns6:FurtherSpecificReserve1ComponentTotalEquity2022-05-012023-04-3013230603ns6:NetGoodwill2022-05-012023-04-3013230603ns6:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3013230603ns6:PlantMachinery2022-05-012023-04-3013230603ns6:FurnitureFittings2022-05-012023-04-3013230603ns6:MotorVehicles2022-05-012023-04-3013230603ns6:ComputerEquipment2022-05-012023-04-3013230603ns6:CostValuation2022-04-30132306031ns6:Subsidiary12022-05-012023-04-3013230603ns6:Subsidiary12023-04-3013230603ns6:Subsidiary12022-04-3013230603ns6:Subsidiary12021-05-012022-04-3013230603ns6:Subsidiary232022-05-012023-04-3013230603ns6:Subsidiary22023-04-3013230603ns6:Subsidiary22022-04-3013230603ns6:Subsidiary22021-05-012022-04-3013230603ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3013230603ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3013230603ns6:DeferredTaxation2023-04-3013230603ns11:OrdinaryShareClass22023-04-3013230603ns11:OrdinaryShareClass32023-04-3013230603ns6:RetainedEarningsAccumulatedLosses2022-04-3013230603ns6:FurtherSpecificReserve1ComponentTotalEquity2022-04-30
REGISTERED NUMBER: 13230603 (England and Wales)













Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 April 2023

for

Opus BSL (Holdings) Ltd

Opus BSL (Holdings) Ltd (Registered number: 13230603)






Contents of the Consolidated Financial Statements
for the year ended 30 April 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Statement of Financial Position 11

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Statement of Cash Flows 15

Notes to the Consolidated Statement of Cash Flows 16

Notes to the Consolidated Financial Statements 17


Opus BSL (Holdings) Ltd

Company Information
for the year ended 30 April 2023







DIRECTORS: G A Richardson
J T Richardson





REGISTERED OFFICE: Unit 7 Boldon Court
Boldon
Tyne And Wear
United Kingdom
NE35 9LZ





REGISTERED NUMBER: 13230603 (England and Wales)





AUDITORS: TTR Barnes Limited
Chartered Accountants and Statutory Auditors
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Group Strategic Report
for the year ended 30 April 2023

The directors present their strategic report of the company and the group for the year ended 30 April 2023.

REVIEW OF BUSINESS
The trading company provides construction and electrical installation services to various sectors which include regional hospitals and schools.

The directors feel at present, the market for the industry is positive and trading conditions have remained strong despite difficult economic conditions.

A key performance indicator used by the director is turnover achieved and gross profit percentage generated. Results for the year under review indicate that turnover has increased and profitability has increased, both being in line with companies objectives.

Key financial results are as follows :-

2023 2022 2021 2020 2019
£ £ £ £ £

Sales 12,482,662 11,796,920 7,404,737 7,428,726 8,602,433

Cost of sales 11,170,589 11,047,059 6,130,849 6,713,737 7,724,220

Gross profit % 10.51% 6.36% 17.2% 9.62% 10.21%

The position of the company as at 30 April 2023 indicates a strong hold in the market despite competitive pressure. The director is continually looking to grow the business and seek new contracts going forward to maintain their market position.

The holding company's principle activity in the year under review was that of a property investment and holding company.

The directors feel at present, the market is positive despite difficult economic conditions.

A key performance indicator used by the director is rental income. Results for the year under review indicate that rental income has increased and profitability has increased, both being in line with companies objectives.

Key financial results are as follows :-

2023 2022
£ £
Rent received 6,038 3,180

The position of the company as at 30 April 2023 indicates a strong revenues and profits. The director is continually looking to grow the business and develop existing and new properties.


Opus BSL (Holdings) Ltd (Registered number: 13230603)

Group Strategic Report
for the year ended 30 April 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The company's operations may expose it to a variety of financial risks that include the effects of changes in prices, credit risk, liquidity risk and interest rate risk. The company seeks to limit the adverse effect on the financial performance of the company as follows:

Price Risk
The market in which the company operates is highly competitive and this can place pressure on the company's pricing strategies. The directors are constantly monitoring pricing strategies and making use of economies of scale in order to remain a force within the market.

Credit Risk
The company is mainly credit based and therefore the risk from credit is high. Where credit is provided, credit checks policies are in place to mitigate any risk where possible.

Liquidity Risk
The company has good cash reserves and actively maintains sufficient liquid working capital balances to fund its operations. It is therefore not subject to a significant liquidity risk.

Interest Rate Risk
The company does not hold any equities or securities and does not have any borrowings other than HP agreements. Cash balances earn interest at variable rates and the directors consider that exposure to interest rate risk is low.

FUTURE DEVELOPMENTS
The director anticipates the business environment will remain competitive. They believe the company is in a good financial position and that the risks that have been identified are being well managed. With careful focus on expanding into other geographical locations throughout the UK, the directors are confident in the company's ability to maintain and build on this position, albeit with cautious growth expectation.

ON BEHALF OF THE BOARD:





G A Richardson - Director


11 November 2023

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Report of the Directors
for the year ended 30 April 2023

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of construction and electrical installation services, and a property investment and holding company.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2023 will be £ 110,500 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report.

G A Richardson
J T Richardson

DISCLOSURE IN THE STRATEGIC REPORT
Other matters relating to the company's exposure to risks and uncertainties as well as future development, have been included in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Report of the Directors
for the year ended 30 April 2023


AUDITORS
The auditors, TTR Barnes Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




G A Richardson - Director


11 November 2023

Report of the Independent Auditors to the Members of
Opus BSL (Holdings) Ltd

Opinion
We have audited the financial statements of Opus BSL (Holdings) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The prior year financial statements of Opus BSL (Holdings) limited were not audited. However, we are satisfied that we have obtained sufficient, appropriate audit evidence to substantiate the opening balances and agree that they are free from material mis-statement.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Opus BSL (Holdings) Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the
company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are
from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also
limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and
other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve
deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Opus BSL (Holdings) Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Allan Russell (Senior Statutory Auditor)
for and on behalf of TTR Barnes Limited
Chartered Accountants and Statutory Auditors
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

12 November 2023

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Consolidated
Income Statement
for the year ended 30 April 2023

2023 2022
Notes £    £   

TURNOVER 12,482,662 11,796,920

Cost of sales 11,170,589 11,047,059
GROSS PROFIT 1,312,073 749,861

Administrative expenses 425,953 436,746
886,120 313,115

Other operating income 7,538 19,820
OPERATING PROFIT 4 893,658 332,935

Income from shares in group undertakings 78,600 25,000
972,258 357,935
Revaluation 5 (165,000 ) -
1,137,258 357,935

Interest payable and similar expenses 6 3,404 2,283
PROFIT BEFORE TAXATION 1,133,854 355,652

Tax on profit 7 208,877 65,396
PROFIT FOR THE FINANCIAL YEAR 924,977 290,256
Profit attributable to:
Owners of the parent 924,977 290,256

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Consolidated
Other Comprehensive Income
for the year ended 30 April 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 924,977 290,256


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

924,977

290,256

Total comprehensive income attributable to:
Owners of the parent 924,977 290,256

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Consolidated Statement of Financial Position
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 (297,962 ) (394,598 )
Tangible assets 11 261,977 168,532
Investments 12 50 50
Investment property 13 504,684 318,956
468,749 92,940

CURRENT ASSETS
Stocks 14 165,790 42,812
Debtors 15 1,837,690 2,598,525
Cash at bank and in hand 1,642,937 840,216
3,646,417 3,481,553
CREDITORS
Amounts falling due within one year 16 2,939,719 3,272,903
NET CURRENT ASSETS 706,698 208,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,175,447

301,590

CREDITORS
Amounts falling due after more than one
year

17

(44,892

)

(52,935

)

PROVISIONS FOR LIABILITIES 20 (93,652 ) (26,229 )
NET ASSETS 1,036,903 222,426

CAPITAL AND RESERVES
Called up share capital 21 170 170
Retained earnings - non
distributable 22 123,750 -
Retained earnings 22 912,983 222,256
SHAREHOLDERS' FUNDS 1,036,903 222,426

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2023 and were signed on its behalf by:





G A Richardson - Director


Opus BSL (Holdings) Ltd (Registered number: 13230603)

Company Statement of Financial Position
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 47,050 47,050
Investment property 13 504,684 318,956
551,734 366,006

CURRENT ASSETS
Debtors 15 53,872 24,950
Cash at bank and in hand 15,502 5,667
69,374 30,617
CREDITORS
Amounts falling due within one year 16 297,499 381,749
NET CURRENT LIABILITIES (228,125 ) (351,132 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

323,609

14,874

PROVISIONS FOR LIABILITIES 20 41,250 -
NET ASSETS 282,359 14,874

CAPITAL AND RESERVES
Called up share capital 21 170 170
Retained earnings - non
distributable 22 123,750 -
Retained earnings 22 158,439 14,704
SHAREHOLDERS' FUNDS 282,359 14,874

Company's profit for the financial year 377,985 82,704

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2023 and were signed on its behalf by:





G A Richardson - Director


Opus BSL (Holdings) Ltd (Registered number: 13230603)

Consolidated Statement of Changes in Equity
for the year ended 30 April 2023

Retained
Called up earnings
share Retained - non Total
capital earnings distributable equity
£    £    £    £   

Balance at 1 May 2021 100 - - 100

Changes in equity
Issue of share capital 70 - - 70
Dividends - (68,000 ) - (68,000 )
Total comprehensive income - 290,256 - 290,256
Balance at 30 April 2022 170 222,256 - 222,426

Changes in equity
Dividends - (110,500 ) - (110,500 )
Total comprehensive income - 801,227 123,750 924,977
Balance at 30 April 2023 170 912,983 123,750 1,036,903

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Company Statement of Changes in Equity
for the year ended 30 April 2023

Retained
Called up earnings
share Retained - non Total
capital earnings distributable equity
£    £    £    £   

Balance at 1 May 2021 100 - - 100

Changes in equity
Issue of share capital 70 - - 70
Dividends - (68,000 ) - (68,000 )
Total comprehensive income - 82,704 - 82,704
Balance at 30 April 2022 170 14,704 - 14,874

Changes in equity
Dividends - (110,500 ) - (110,500 )
Total comprehensive income - 254,235 123,750 377,985
Balance at 30 April 2023 170 158,439 123,750 282,359

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Consolidated Statement of Cash Flows
for the year ended 30 April 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,278,139 552,940
Interest paid (7 ) 680
Interest element of hire purchase payments
paid

(3,397

)

(2,963

)
Tax paid (51,032 ) -
Net cash from operating activities 1,223,703 550,657

Cash flows from investing activities
Purchase of intangible fixed assets - 483,181
Purchase of tangible fixed assets (149,820 ) (179,768 )
Purchase of fixed asset investments - (50 )
Purchase of investment property (20,728 ) (318,956 )
Sale of tangible fixed assets 47,251 30,500
Dividends received 50,000 25,000
Net cash from investing activities (73,297 ) 39,907

Cash flows from financing activities
Capital repayments in year (47,337 ) 94,627
Amount introduced by directors 118,600 385,053
Amount withdrawn by directors (308,448 ) (162,198 )
Share issue - 70
Equity dividends paid (110,500 ) (68,000 )
Net cash from financing activities (347,685 ) 249,552

Increase in cash and cash equivalents 802,721 840,116
Cash and cash equivalents at beginning of
year

2

840,216

100

Cash and cash equivalents at end of year 2 1,642,937 840,216

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Statement of Cash Flows
for the year ended 30 April 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 1,133,854 355,652
Depreciation charges (39,783 ) (37,648 )
Profit on disposal of fixed assets (14,848 ) (13,332 )
Gain on revaluation of fixed assets (165,000 ) -
Finance costs 3,404 2,283
Finance income (78,600 ) (25,000 )
839,027 281,955
Increase in stocks (122,978 ) (42,812 )
Decrease/(increase) in trade and other debtors 790,435 (2,598,525 )
(Decrease)/increase in trade and other creditors (228,345 ) 2,912,322
Cash generated from operations 1,278,139 552,940

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 April 2023
30/4/23 1/5/22
£    £   
Cash and cash equivalents 1,642,937 840,216
Year ended 30 April 2022
30/4/22 1/5/21
£    £   
Cash and cash equivalents 840,216 100


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1/5/22 Cash flow changes At 30/4/23
£    £    £    £   
Net cash
Cash at bank
and in hand 840,216 802,721 1,642,937
840,216 802,721 1,642,937
Debt
Finance leases (94,627 ) 47,337 (32,880 ) (80,170 )
(94,627 ) 47,337 (32,880 ) (80,170 )
Total 745,589 850,058 (32,880 ) 1,562,767

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements
for the year ended 30 April 2023

1. STATUTORY INFORMATION

Opus BSL (Holdings) Ltd is a private company, limited by shares , registered in England and Wales. The company'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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The financial statements consolidate the financial statements of Opus BSL (Holdings) Limited and its subsidiary Opus Building Services Limited. All of the entities are made up to 30 April 2023. The associate Construction Refurbishment Services Limited has been excluded from the consolidation as it is not controlled by Opus BSL (Holdings) Limited. The investment details are shown in note 12. Transactions between the group companies have been eliminated on consolidation.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
The following estimates have been made in the process of applying the above accounting policies, these are the estimates that have the most significant effect on the financial statements:

Depreciation - depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset. An estimate of the useful economic life of assets is detailed in the depreciation accounting policy. The depreciation charge for the year is £56,852.

Bad debt provision - management reviews the ageing debtors ledger regularly to identify any irrecoverable debts, they do this by considering their age, credit terms and knowledge of the customer.

Amounts recoverable on contracts - management reviews the contracts and work completed to date to estimate the stage the projects are at. They also use their knowledge in the area to determine if there are any losses to be recognised.

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is measured at the fair value of consideration received or receivable and represents the amount receivable for goods supplied and services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company's sales channels have been met as described below.

The company's main stream of income is supplying electrical contracting services which includes the installation of electrical supplies. Revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract can be estimated reliably. The company uses a job costing system to measure work in progress reliably for inclusion in the financial statements.

A lessor of investment property measured at fair value shall recognise rental income arising from leases of investment property (other than fair value gains or losses) in profit or loss on a straight- line basis.

Other income includes rents receivable excluding value added tax which are recognised inline with rental service contracts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance and 15% straight line
Fixtures and fittings - 25% Straight line and 15% on reducing balance
Motor vehicles - 25% Straight line and 25% on reducing balance
Computer equipment - Straight line over 3 years

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same manner as owned assets.

At each reporting date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of any asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. The impairment loss is recognised as an expense immediately.

Where the impairment loss subsequently reverses, the carrying amount of the asset is increase to the revised estimate of its recoverable amount, to the extent that the increase carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants received in relation to employment of Apprentices are recognised in the profit and loss account when received.

Investments in subsidiaries
Investment in subsidiary undertakings are recognised at cost.

Investment property
Investment property is hown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Amounts recoverable on contract
Amounts recoverable on contracts are valued using the stage of completion method by reference to applications made on the contracts entered into. An element of profit is added onto the costs to date based on a proportion the directors consider appropriate on a contract by contract basis. Consideration is then made for for any losses/bad debt risk which may be suffered, on a contract by contract basis.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered possible.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period to which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Work in progress
Work-in-progress is stated at the lower of cost and net realisable value. Costs, which compromise materials and direct labour and an appropriate allocation of overheads, are based on the method most appropriate to the company. Net realisable value is based on the estimated recoverable costs less any estimated completion costs.

As costs occur they are recognised as an expense in the period in which they arise. The amount of any write-down of work-in-progress to net realisable value and all losses of irrecoverable costs are recognised as an expense in the period in which the write-down occurs.

The amount of any reversal of write-down of work-in-progress is recognised as a reduction in the amount of work-in-progress recognised as an expense in the period in which the reversal occurs.

Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities where appropriate.

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 3,617,883 2,627,993
Social security costs 268,065 247,173
Other pension costs 50,956 142,419
3,936,904 3,017,585

The average number of employees during the year was as follows:
2023 2022

Contracts managers and staff 59 60
Administration staff 1 1
Directors 2 2
62 63

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2022 - NIL).

2023 2022
£    £   
Directors' remuneration 25,818 23,736
Directors' pension contributions to money purchase schemes - 93,180

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 35,985 16,860
Other operating leases 40,079 33,361
Depreciation - owned assets 33,146 14,857
Depreciation - assets on hire purchase contracts 23,706 36,077
Profit on disposal of fixed assets (14,848 ) (13,332 )
Goodwill amortisation (96,636 ) (88,583 )
Formation costs - 250
Auditors remuneration 17,500 12,000

5. REVALUATION
2023 2022
£    £   
Revaluation of investment
property (165,000 ) -

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Interest on tax payment 7 (680 )
Hire purchase interest 3,397 2,963
3,404 2,283

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 141,454 49,034

Deferred tax 67,423 16,362
Tax on profit 208,877 65,396

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,133,854 355,652
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

215,432

67,574

Effects of:
Expenses not deductible for tax purposes 7,480 (940 )
Income not taxable for tax purposes (64,645 ) (21,581 )
Capital allowances in excess of depreciation (19,434 ) -
Depreciation in excess of capital allowances - 2,024
Utilisation of tax losses (1,908 ) 1,956
Rounding - 1
Deferred tax on accelerated capital allowances 26,173 16,362
Deferred tax on revaluation 41,250 -
Effect of marginal rate 4,529 -
Total tax charge 208,877 65,396

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

9. DIVIDENDS
2023 2022
£    £   
A Ordinary shares of £1 each
Interim 73,000 21,100
B Ordinary shares of £1 each
Interim 37,500 46,900
110,500 68,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 (483,181 )
AMORTISATION
At 1 May 2022 (88,583 )
Amortisation for year (96,636 )
At 30 April 2023 (185,219 )
NET BOOK VALUE
At 30 April 2023 (297,962 )
At 30 April 2022 (394,598 )

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 3,174 2,731 183,159 9,490 198,554
Additions - 294 178,330 4,076 182,700
Disposals (3,174 ) (2,731 ) (36,723 ) (79 ) (42,707 )
At 30 April 2023 - 294 324,766 13,487 338,547
DEPRECIATION
At 1 May 2022 635 409 26,628 2,350 30,022
Charge for year - 13 52,855 3,984 56,852
Eliminated on disposal (635 ) (409 ) (9,181 ) (79 ) (10,304 )
At 30 April 2023 - 13 70,302 6,255 76,570
NET BOOK VALUE
At 30 April 2023 - 281 254,464 7,232 261,977
At 30 April 2022 2,539 2,322 156,531 7,140 168,532

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022 137,306
Additions 32,880
Disposals (30,501 )
Transfer to ownership (13,244 )
At 30 April 2023 126,441
DEPRECIATION
At 1 May 2022 15,165
Charge for year 23,706
Eliminated on disposal (7,625 )
Transfer to ownership (3,312 )
At 30 April 2023 27,934
NET BOOK VALUE
At 30 April 2023 98,507
At 30 April 2022 122,141

12. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 May 2022
and 30 April 2023 50
NET BOOK VALUE
At 30 April 2023 50
At 30 April 2022 50

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

12. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 May 2022
and 30 April 2023 47,050
NET BOOK VALUE
At 30 April 2023 47,050
At 30 April 2022 47,050

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Opus Building Services Limited
Registered office: Unit 7 Boldon Court, Boldon, Tyne and Wear, United Kingdom, NE35 9LZ
Nature of business: Construction and electrical contractors
%
Class of shares: holding
Ordinary, A & B 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,099,505 649,150
Profit for the year 644,355 186,969

Construction Refurbishment Services Limited
Registered office: 7 Boldon Court, Burford Way, Boldon Colliery, Tyne and Wear, United Kingdom, NE35 9PY
Nature of business: Building contractors
%
Class of shares: holding
Ordinary 50.00
2023 2022
£    £   
Aggregate capital and reserves 50,304 88,103
Profit for the year 119,401 138,003


Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 May 2022 318,956
Additions 20,728
Revaluations 165,000
At 30 April 2023 504,684
NET BOOK VALUE
At 30 April 2023 504,684
At 30 April 2022 318,956

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2023 165,000
Cost 339,684
504,684

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 250,000 250,000

Investment property was valued on an open market basis on 20 June 2023 by Ashley O'Carroll - BSc MNAEA MARLA .

Company
Total
£   
FAIR VALUE
At 1 May 2022 318,956
Additions 20,728
Revaluations 165,000
At 30 April 2023 504,684
NET BOOK VALUE
At 30 April 2023 504,684
At 30 April 2022 318,956

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2023 165,000
Cost 339,684
504,684

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

13. INVESTMENT PROPERTY - continued

Company

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 250,000 -

Investment property was valued on an open market basis on 20 June 2023 by Ashley O'Carroll - Bsc MNAEA MARLA .

14. STOCKS

Group
2023 2022
£    £   
Work-in-progress 165,790 42,812

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 866,356 1,809,332 - -
Amounts owed by group undertakings 53,550 24,950 53,550 24,950
Amounts recoverable on contract 897,517 626,517 - -
Prepayments and accrued income 20,267 137,726 322 -
1,837,690 2,598,525 53,872 24,950

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Hire purchase contracts (see note 18) 35,278 41,692 - -
Trade creditors 2,207,207 2,623,219 - 1
Amounts owed to group undertakings - - 206,751 110,812
Tax 139,456 49,034 - -
Social security and other taxes 76,374 63,407 - -
VAT 183,541 95,821 - -
Other creditors 497 - - -
Directors' current accounts 81,008 269,855 81,008 269,856
Accrued expenses 216,358 129,875 9,740 1,080
2,939,719 3,272,903 297,499 381,749

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Hire purchase contracts (see note 18) 44,892 52,935

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 35,278 41,692
Between one and five years 44,892 52,935
80,170 94,627

The hire purchase contract relates to assets which are subject to a sale and leasebackarrangement.

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Hire purchase contracts 80,170 94,627

Hire purchase contracts are secured on the assets to which they relate.

20. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 93,652 26,229 41,250 -

Group
Deferred
tax
£   
Balance at 1 May 2022 26,229
Provided during year 67,423
Balance at 30 April 2023 93,652

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

20. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Revaluation on property 41,250
Balance at 30 April 2023 41,250

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
102 A Ordinary £1 102 102
68 B Ordinary £1 68 68
170 170

Called up share capital represents the nominal value of the shares in issue.

All Ordinary A & B shares carry full voting and dividend rights.

22. RESERVES

Group
Retained
earnings
Retained - non
earnings distributable Totals
£    £    £   

At 1 May 2022 222,256 - 222,256
Profit for the year 924,977 924,977
Dividends (110,500 ) (110,500 )
Revaluation (123,750 ) 123,750 -
At 30 April 2023 912,983 123,750 1,036,733

Company
Retained
earnings
Retained - non
earnings distributable Totals
£    £    £   

At 1 May 2022 14,704 - 14,704
Profit for the year 377,985 377,985
Dividends (110,500 ) (110,500 )
Revaluation (123,750 ) 123,750 -
At 30 April 2023 158,439 123,750 282,189

Opus BSL (Holdings) Ltd (Registered number: 13230603)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 April 2023

22. RESERVES - continued

Retained earnings represent all current and prior period profits and losses less any distributions made.

Non distributable retained earnings represent the fair value adjustments for investment property that is not yet realised.

23. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2023 2022
£    £   
Purchases 174,990 -

Opus BSL (Holdings) Limited owns 50% of the share capital in Construction Refurbishment Services Limited. At the balance sheet date the company was owed £53,550 (2022: £24,950) by Construction Refurbishment Services Limited.

Key management personnel of the entity or its parent (in the aggregate)

Key management personnel remuneration amounted to £154,284.

The total benefits in kind incurred by the director in the year ending 30/04/2023 totals £9,023 (2022 - £6,443).

Other related parties

The parent company, Opus BSL (Holdings) Ltd owns 50% of Construction Refurbishment Services Ltd. During the year Construction Refurbishment Services Limited acquired the entire share capital of Laminform Limited.

During the period ending 30/04/2023 Opus Building Services Ltd have made sales totalling £1,578 to,and received purchases totalling £78,388 from Laminform Ltd. A creditors balance for Laminform is outstanding at the year end totalling £21,064

24. AUDITOR LIABILITY LIMITATION AGREEMENT

The limitation of liability in respect of this audit is 10 times the audit fee which was agreed in our terms of engagement letter dated 21 June 2023.

25. ULTIMATE CONTROLLING PARTY

The controlling party is G A Richardson.