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REGISTERED NUMBER: 12110507 (England and Wales)















OPL DISTRIBUTION LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OPL DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: C A Delaney





REGISTERED OFFICE: 483-503 Garretts Green Lane
Garretts Green
Birmingham
B33 0SL





REGISTERED NUMBER: 12110507 (England and Wales)





AUDITORS: Sephton & Company LLP
Chartered Certified Accountants
Statutory Auditors
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 242,358 264,129

CURRENT ASSETS
Stocks 34,760 6,000
Debtors 5 90,145 313,719
Cash at bank and in hand 319 31,199
125,224 350,918
CREDITORS
Amounts falling due within one year 6 113,225 161,902
NET CURRENT ASSETS 11,999 189,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,357

453,145

CREDITORS
Amounts falling due after more than one year 7 (226,562 ) (287,460 )

PROVISIONS FOR LIABILITIES (22,903 ) (16,885 )
NET ASSETS 4,892 148,800

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,891 148,799
4,892 148,800

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 29 July 2024 and were signed by:





C A Delaney - Director


OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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


1. STATUTORY INFORMATION

Opl Distribution 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

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 cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other accounts receivable and payable, cash and bank balances, loans to or from related parties and current asset investments. All such instruments are measured initially and subsequently at the transaction price.

At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment is recognised in the profit and loss account.

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
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.

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.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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


2. ACCOUNTING POLICIES - continued

Going concern
At the balance sheet date the company was insolvent. However, the accounts have been prepared under the going concern basis, on the assumption that continued support will be forthcoming from the parent company. The parent company has provided written confirmation that they will provide financial support necessary to enable OPL Distribution Limited to meet its financial commitments as and when they fall due. The guarantee is valid for one year from the signing of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 15,690 3,171 251,990 270,851
Additions - - 251,990 251,990
Disposals - - (251,990 ) (251,990 )
At 31 October 2023 15,690 3,171 251,990 270,851
DEPRECIATION
At 1 November 2022 5,454 1,268 - 6,722
Charge for year 3,138 634 17,999 21,771
At 31 October 2023 8,592 1,902 17,999 28,493
NET BOOK VALUE
At 31 October 2023 7,098 1,269 233,991 242,358
At 31 October 2022 10,236 1,903 251,990 264,129

OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 251,990
Additions 251,990
Disposals (251,990 )
At 31 October 2023 251,990
DEPRECIATION
Charge for year 17,999
At 31 October 2023 17,999
NET BOOK VALUE
At 31 October 2023 233,991
At 31 October 2022 251,990

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 60,123 265,636
Other debtors 30,022 48,083
90,145 313,719

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,077 9,829
Hire purchase contracts (see note 8) 55,743 36,371
Trade creditors 31,747 105,838
Taxation and social security - 2,247
Other creditors 15,658 7,617
113,225 161,902

OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,365 27,443
Hire purchase contracts (see note 8) 209,197 260,017
226,562 287,460

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 55,743 36,371
Between one and five years 209,197 260,017
264,940 296,388

Non-cancellable operating leases
2023 2022
£    £   
Within one year 125,000 137,500

A subsidiary within the Onpoint group has guaranteed the operating lease.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 264,940 296,388

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Paul Carter (Senior Statutory Auditor)
for and on behalf of Sephton & Company LLP

OPL DISTRIBUTION LIMITED (REGISTERED NUMBER: 12110507)

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


11. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking and controlling party is Onpoint ST Ltd, which prepares group financial statements. The registered office of Onpoint ST Ltd is Marston House 5, Elmdon Lane, Marston Green, Solihull, West Midlands, England, B37 7DL