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COMPANY REGISTRATION NUMBER: 02406362
OPRA Packaging Limited
Filleted Unaudited Financial Statements
31 December 2023
OPRA Packaging Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
OPRA Packaging Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,358
2,405
Current assets
Stocks
45,124
21,385
Debtors
6
68,673
59,783
Cash at bank and in hand
772,647
818,626
---------
---------
886,444
899,794
Creditors: amounts falling due within one year
7
56,484
69,439
---------
---------
Net current assets
829,960
830,355
---------
---------
Total assets less current liabilities
832,318
832,760
---------
---------
Net assets
832,318
832,760
---------
---------
OPRA Packaging Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
8
30,000
30,000
Profit and loss account
802,318
802,760
---------
---------
Shareholders funds
832,318
832,760
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
A P Robinson Director
Company registration number: 02406362
OPRA Packaging Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 196 Hither Green Lane, Abbey Park, Redditch, Worcestershire, B96 9AZ. The place of business is Fairground Way, Walsall, WS1 4NU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents sales of goods net of VAT. Turnover is recognised when goods are physically delivered to the customer.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Office Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price after making due allowance for obsolete and slow moving items.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 7 ).
5. Tangible assets
Plant and machinery
Office fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
171,242
9,748
21,842
202,832
Additions
739
739
---------
--------
--------
---------
At 31 December 2023
171,242
10,487
21,842
203,571
---------
--------
--------
---------
Depreciation
At 1 January 2023
170,644
9,581
20,202
200,427
Charge for the year
149
227
410
786
---------
--------
--------
---------
At 31 December 2023
170,793
9,808
20,612
201,213
---------
--------
--------
---------
Carrying amount
At 31 December 2023
449
679
1,230
2,358
---------
--------
--------
---------
At 31 December 2022
598
167
1,640
2,405
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
63,434
55,826
Other debtors
5,239
3,957
--------
--------
68,673
59,783
--------
--------
The debtors above include the following amounts falling due after more than one year:
2023
2022
£
£
Other debtors
2,452
2,629
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
500
202
Trade creditors
33,119
38,492
Social security and other taxes
7,825
17,693
Other creditors
15,040
13,052
--------
--------
56,484
69,439
--------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
29,000
29,000
29,000
29,000
Ordinary Redeemable Non Voting shares of £ 1 each
1,000
1,000
1,000
1,000
--------
--------
--------
--------
30,000
30,000
30,000
30,000
--------
--------
--------
--------
9. Directors' advances, credits and guarantees
With regard to the advances to a director, the balance at the start of the year was £nil. During the year advances totalling £ 996 and repayments totalling £nil were made and the balance at the year-end was £ 996 . The advances were made interest-free and are repayable on demand.