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REGISTERED NUMBER: 07556710 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OPES FINANCIAL PARTNERS LIMITED

OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OPES FINANCIAL PARTNERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M Rashid





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





REGISTERED NUMBER: 07556710 (England and Wales)






OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,638 125,161

CURRENT ASSETS
Debtors 5 1,022,875 1,023,071

CREDITORS
Amounts falling due within one year 6 943,927 880,852
NET CURRENT ASSETS 78,948 142,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,586

267,380

CREDITORS
Amounts falling due after more than one
year

7

80,471

192,596
NET ASSETS 104,115 74,784

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 104,015 74,684
SHAREHOLDERS' FUNDS 104,115 74,784

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

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

The director acknowledges his 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.

OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 9 March 2024 and were signed by:





M Rashid - Director


OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

OPES Financial Partners 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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

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.
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on reducing balance

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.

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.

Going concern
In preparing the financial statements the director is required to assess the company's ability to continue to trade as a going concern for the foreseeable future.

In undertaking this assessment, the director have given due consideration to the company's banking facilities, historical and current trading, together with the forward-looking projections and is happy that there are no material uncertainties that may cause significant doubt about the ability of the company to continue as a going concern.

As such, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Office
equipment
and Motor Computer
furniture vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 46,999 150,000 33,950 230,949
Additions 4,781 - 2,276 7,057
At 31 March 2023 51,780 150,000 36,226 238,006
DEPRECIATION
At 1 April 2022 28,269 60,938 16,581 105,788
Charge for year 2,351 22,265 1,964 26,580
At 31 March 2023 30,620 83,203 18,545 132,368
NET BOOK VALUE
At 31 March 2023 21,160 66,797 17,681 105,638
At 31 March 2022 18,730 89,062 17,369 125,161

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 150,000
DEPRECIATION
At 1 April 2022 60,938
Charge for year 22,265
At 31 March 2023 83,203
NET BOOK VALUE
At 31 March 2023 66,797
At 31 March 2022 89,062

OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 35,579
Amounts owed by group undertakings - 315,737
Other debtors 1,022,875 671,755
1,022,875 1,023,071

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 90,137 113,207
Hire purchase contracts 96,424 15,310
Trade creditors 44,091 34,878
Taxation and social security 394,706 422,740
Other creditors 318,569 294,717
943,927 880,852

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 80,471 100,000
Hire purchase contracts - 92,596
80,471 192,596

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following loans a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
M Rashid
Balance outstanding at start of year 133,779 84,522
Amounts advanced 217,128 133,779
Amounts repaid (133,779 ) (84,522 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 217,128 133,779

During the period under review the company loaned money to M Davis (shareholder) and M Rashid (shareholder and director), the balances were repaid in full within 9 months of the balance sheet date.

OPES FINANCIAL PARTNERS LIMITED (REGISTERED NUMBER: 07556710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Rashid.