Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10544333 2022-12-01 2023-11-30 10544333 2021-12-01 2022-11-30 10544333 2023-11-30 10544333 2022-11-30 10544333 c:Director1 2022-12-01 2023-11-30 10544333 d:FreeholdInvestmentProperty 2022-12-01 2023-11-30 10544333 d:FreeholdInvestmentProperty 2023-11-30 10544333 d:FreeholdInvestmentProperty 2022-11-30 10544333 d:CurrentFinancialInstruments 2023-11-30 10544333 d:CurrentFinancialInstruments 2022-11-30 10544333 d:Non-currentFinancialInstruments 2023-11-30 10544333 d:Non-currentFinancialInstruments 2022-11-30 10544333 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 10544333 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 10544333 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 10544333 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 10544333 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 10544333 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 10544333 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 10544333 d:ShareCapital 2023-11-30 10544333 d:ShareCapital 2022-11-30 10544333 d:RetainedEarningsAccumulatedLosses 2023-11-30 10544333 d:RetainedEarningsAccumulatedLosses 2022-11-30 10544333 c:FRS102 2022-12-01 2023-11-30 10544333 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10544333 c:FullAccounts 2022-12-01 2023-11-30 10544333 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10544333 2 2022-12-01 2023-11-30 10544333 6 2022-12-01 2023-11-30 10544333 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 10544333









OPTI PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
OPTI PROPERTY LIMITED
REGISTERED NUMBER: 10544333

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
33,750
-

Investment property
 5 
862,492
549,384

  
896,242
549,384

Current assets
  

Debtors: amounts falling due within one year
 6 
2
2

Bank and cash balances
  
61,148
78,675

  
61,150
78,677

Creditors: amounts falling due within one year
 7 
(490,010)
(169,306)

Net current liabilities
  
 
 
(428,860)
 
 
(90,629)

Total assets less current liabilities
  
467,382
458,755

Creditors: amounts falling due after more than one year
 8 
(318,899)
(331,719)

  

Net assets
  
148,483
127,036


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
148,481
127,034

  
148,483
127,036


Page 1

 
OPTI PROPERTY LIMITED
REGISTERED NUMBER: 10544333
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 August 2024.




R Stitcher
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Opti Property Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 38 Cromwell Road, Luton, England, LU3 1DN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company and the currency in which the financial statements are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.3

Revenue

Turnover comprises rent receivable in connection with the company's investment property. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
33,750



At 30 November 2023
33,750





5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
549,384


Additions at cost
313,108



At 30 November 2023
862,492

The 2023 valuations were made by the director, on an open market value for existing use basis.





6.


Debtors

2023
2022
£
£


Other debtors
2
2

2
2


Page 5

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
19,208
18,675

Amounts owed to group undertakings
457,231
134,023

Corporation tax
12,071
15,108

Accruals and deferred income
1,500
1,500

490,010
169,306



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
318,899
331,719

318,899
331,719


The bank loan was secured by way of a fixed and floating charge over the assets of the company.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
19,208
18,675

Amounts falling due 1-2 years

Bank loans
19,758
19,208

Amounts falling due 2-5 years

Bank loans
62,734
60,988

Amounts falling due after more than 5 years

Bank loans
236,407
251,523

338,107
350,394


Page 6

 
OPTI PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Related party transactions

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.


11.


Controlling party

The ultimate controlling party is Principle Capital Limited.

 
Page 7