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Registration number: 12035094

Opalia Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Opalia Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Opalia Ltd

Company Information

Director

Mr Aldo Peter Lo Castro

Company secretary

Lea Secretaries Limited

Registered office

5th Floor North Side
7-10 Chandos Street
Cavendish Square
London
United Kingdom
W1G 9DQ

 

Opalia Ltd

(Registration number: 12035094)
Balance Sheet as at 31 December 2023

Note

2023

2022

Fixed assets

 

Investments

4

59,022

39,652

Current assets

 

Debtors

5

921

8,512

Cash at bank and in hand

 

559

1,208

 

1,480

9,720

Creditors: Amounts falling due within one year

6

(51,362)

(37,589)

Net current liabilities

 

(49,882)

(27,869)

Net assets

 

9,140

11,783

Capital and reserves

 

Called up share capital

7

1,000

863

Retained earnings

8,140

10,920

Shareholders' funds

 

9,140

11,783

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 August 2024
 

.........................................
Mr Aldo Peter Lo Castro
Director

 

Opalia Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital

Retained earnings

Total

At 1 January 2023

863

10,920

11,783

Loss for the year

-

(2,780)

(2,780)

New share capital subscribed

137

-

137

At 31 December 2023

1,000

8,140

9,140

Share capital

Retained earnings

Total

At 1 January 2022

863

(2,937)

(2,074)

Profit for the year

-

13,857

13,857

At 31 December 2022

863

10,920

11,783

 

Opalia Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5th Floor North Side
7-10 Chandos Street
Cavendish Square
London
United Kingdom
W1G 9DQ

These financial statements were authorised for issue by the director on 2 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Euros (€).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Opalia Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Opalia Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

2023

2022

Investments in associates

59,022

39,652

Associates

Cost

At 1 January 2023

39,652

Additions

19,370

At 31 December 2023

59,022

Provision

Carrying amount

At 31 December 2023

59,022

At 31 December 2022

39,652

5

Debtors

Current

2023

2022

Trade debtors

-

8,512

Other debtors

921

-

 

921

8,512

 

Opalia Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023

2022

Due within one year

Taxation and social security

-

2,435

Accruals and deferred income

9,892

1,661

Other creditors

41,470

33,493

51,362

37,589

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

No.

Ordinary shares of €1 (2022 - €0.86) each

1,000

1,000

1,000

863