IRIS Accounts Production v24.1.9.2 08678055 director 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086780552023-03-31086780552024-03-31086780552023-04-012024-03-31086780552022-03-31086780552022-04-012023-03-31086780552023-03-3108678055ns15:EnglandWales2023-04-012024-03-3108678055ns14:PoundSterling2023-04-012024-03-3108678055ns10:Director12023-04-012024-03-3108678055ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108678055ns10:SmallEntities2023-04-012024-03-3108678055ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108678055ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108678055ns10:FullAccounts2023-04-012024-03-310867805512023-04-012024-03-3108678055ns10:RegisteredOffice2023-04-012024-03-3108678055ns5:CurrentFinancialInstruments2024-03-3108678055ns5:CurrentFinancialInstruments2023-03-3108678055ns5:Non-currentFinancialInstruments2024-03-3108678055ns5:Non-currentFinancialInstruments2023-03-3108678055ns5:ShareCapital2024-03-3108678055ns5:ShareCapital2023-03-3108678055ns5:RetainedEarningsAccumulatedLosses2024-03-3108678055ns5:RetainedEarningsAccumulatedLosses2023-03-3108678055ns5:NetGoodwill2023-04-012024-03-3108678055ns5:PlantMachinery2023-04-012024-03-3108678055ns5:NetGoodwill2023-03-3108678055ns5:NetGoodwill2024-03-3108678055ns5:NetGoodwill2023-03-3108678055ns5:FurnitureFittings2023-03-3108678055ns5:ComputerEquipment2023-03-3108678055ns5:FurnitureFittings2023-04-012024-03-3108678055ns5:ComputerEquipment2023-04-012024-03-3108678055ns5:FurnitureFittings2024-03-3108678055ns5:ComputerEquipment2024-03-3108678055ns5:FurnitureFittings2023-03-3108678055ns5:ComputerEquipment2023-03-3108678055ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108678055ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 08678055 (England and Wales)














OPUS HAIR LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2024






OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


OPUS HAIR LIMITED

Company Information
for the Year Ended 31 March 2024







Director: Mrs T C Elderton





Registered office: Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF





Registered number: 08678055 (England and Wales)





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,546 15,153
12,546 15,153

CURRENT ASSETS
Stocks 6 1,885 3,564
Debtors 7 58,303 15,196
Cash at bank and in hand 14,870 51,937
75,058 70,697
CREDITORS
Amounts falling due within one year 8 44,184 45,196
NET CURRENT ASSETS 30,874 25,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,420

40,654

CREDITORS
Amounts falling due after more than
one year

9

43,398

40,631
NET ASSETS 22 23

OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 12 13
SHAREHOLDERS' FUNDS 22 23

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:





Mrs T C Elderton - Director


OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on reducing balance

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

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 10,000
Amortisation
At 1 April 2023
and 31 March 2024 10,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 April 2023
and 31 March 2024 36,308 4,502 40,810
Depreciation
At 1 April 2023 22,163 3,494 25,657
Charge for year 2,122 485 2,607
At 31 March 2024 24,285 3,979 28,264
Net book value
At 31 March 2024 12,023 523 12,546
At 31 March 2023 14,145 1,008 15,153

6. STOCKS
2024 2023
£    £   
Stocks 1,885 3,564

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 58,303 15,196

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,858 21,677
Trade creditors 3,435 3,791
Taxation and social security 25,260 19,262
Other creditors 6,631 466
44,184 45,196

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 43,398 40,631

OPUS HAIR LIMITED (REGISTERED NUMBER: 08678055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 26,701 631