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REGISTERED NUMBER: 12717919 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Opalstone Group Limited

Opalstone Group Limited (Registered number: 12717919)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Opalstone Group Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr J R Gallon
Mrs S F Glasby-Simpkins





REGISTERED OFFICE: Unit 9, Elmsfield Industrial Estate
Worcester Road
Chipping Norton
OX7 5XL





REGISTERED NUMBER: 12717919 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Opalstone Group Limited (Registered number: 12717919)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,967 1,160
Tangible assets 5 139,080 99,810
141,047 100,970

CURRENT ASSETS
Debtors 6 210,219 70,160
Cash at bank 22,972 29,857
233,191 100,017
CREDITORS
Amounts falling due within one year 7 76,287 36,245
NET CURRENT ASSETS 156,904 63,772
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,951

164,742

CREDITORS
Amounts falling due after more than one
year

8

(15,871

)

-

PROVISIONS FOR LIABILITIES (24,773 ) (18,964 )
NET ASSETS 257,307 145,778

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 10 257,197 145,668
SHAREHOLDERS' FUNDS 257,307 145,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

Opalstone Group Limited (Registered number: 12717919)

Balance Sheet - continued
31 July 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:





Mr J R Gallon - Director


Opalstone Group Limited (Registered number: 12717919)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Opalstone Group Limited 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 Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

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

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.

Number plates are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their estimated useful lives on the following bases:

Plant and machinery33% on straight line
Fixtures and fittings20% on reducing balance
Motor vehicles20% on reducing balance
Computer equipment33% on straight line


Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 Section 1A to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability.

Opalstone Group Limited (Registered number: 12717919)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable in one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Opalstone Group Limited (Registered number: 12717919)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Number
plates
£
COST
At 1 August 2022 1,160
Additions 1,026
At 31 July 2023 2,186
AMORTISATION
Amortisation for year 219
At 31 July 2023 219
NET BOOK VALUE
At 31 July 2023 1,967
At 31 July 2022 1,160

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 August 2022 101,217 2,445 36,795 2,108 142,565
Additions 59,702 297 43,890 2,297 106,186
Disposals - - (18,000 ) - (18,000 )
At 31 July 2023 160,919 2,742 62,685 4,405 230,751
DEPRECIATION
At 1 August 2022 33,604 556 7,733 862 42,755
Charge for year 45,574 422 8,397 1,003 55,396
Eliminated on disposal - - (6,480 ) - (6,480 )
At 31 July 2023 79,178 978 9,650 1,865 91,671
NET BOOK VALUE
At 31 July 2023 81,741 1,764 53,035 2,540 139,080
At 31 July 2022 67,613 1,889 29,062 1,246 99,810

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£ £
Trade debtors 140,082 63,004
Other debtors 500 -
Directors' loan accounts 59,865 10
Tax and social security - 285
Prepayments 9,772 6,861
210,219 70,160

Opalstone Group Limited (Registered number: 12717919)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£ £
Bank loans and overdrafts (see note 9) - 6,498
Hire purchase contracts 6,144 -
Trade creditors 21,836 -
Tax 21,798 19,666
Social security and other tax 5,673 -
VAT 16,991 4,683
Pension fund 408 -
Directors' loan accounts - 2,741
Accrued expenses 3,437 2,657
76,287 36,245

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£ £
Hire purchase contracts 15,871 -

9. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£ £
Amounts falling due within one year or on demand:
Bank loans - 6,498

10. RESERVES
Retained
earnings
£

At 1 August 2022 145,668
Profit for the year 111,529
At 31 July 2023 257,197

Opalstone Group Limited (Registered number: 12717919)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 31 July 2022 and 31 July 2023:
31.07.2331.07.22
££
Director 1
Balance outstanding at start of period(2,741)(34,650)
Amounts advanced65,80040,772
Amounts repaid(10,694)(8,863)
Balance outstanding at end of period52,365(2,741)

Director 2
Balance outstanding at start of period--
Amounts advanced--
Amounts repaid--
Balance outstanding at end of period7,500-