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REGISTERED NUMBER: SC748988 (Scotland)















Unaudited Financial Statements

for the Period

1 November 2022 to 30 November 2023

for

Opalily Bridal Ltd

Opalily Bridal Ltd (Registered number: SC748988)






Contents of the Financial Statements
for the Period 1 November 2022 to 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Opalily Bridal Ltd

Company Information
for the Period 1 November 2022 to 30 November 2023







DIRECTORS: Mrs F L Barron
Mr S D Barron





REGISTERED OFFICE: 2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ





REGISTERED NUMBER: SC748988 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

Opalily Bridal Ltd (Registered number: SC748988)

Balance Sheet
30 November 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 2,124

CURRENT ASSETS
Stocks 21,648
Debtors 5 87
Cash at bank 21
21,756
CREDITORS
Amounts falling due within one year 6 59,174
NET CURRENT LIABILITIES (37,418 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(35,294

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (35,394 )
SHAREHOLDERS' FUNDS (35,294 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2024 and were signed on its behalf by:





Mrs F L Barron - Director


Opalily Bridal Ltd (Registered number: SC748988)

Notes to the Financial Statements
for the Period 1 November 2022 to 30 November 2023

1. STATUTORY INFORMATION

Opalily Bridal Ltd is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have adopted the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Shop furnishings & fittings - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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

Taxation
Taxation for the period 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 period 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.

Opalily Bridal Ltd (Registered number: SC748988)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Shop
furnishings Computer
& fittings equipment Totals
£    £    £   
COST
Additions 2,349 349 2,698
At 30 November 2023 2,349 349 2,698
DEPRECIATION
Charge for period 477 97 574
At 30 November 2023 477 97 574
NET BOOK VALUE
At 30 November 2023 1,872 252 2,124

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 87

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 3,575
Other creditors 55,599
59,174

The balance of other creditors includes sums totalling £35,290 owing to the director, Mrs F.Barron.

7. RELATED PARTY DISCLOSURES

The director, Mrs F.Barron, operates a current account with the company and as at the financial year end the balance owing to her was £16,510. There are no fixed terms of repayment and no interest is accrued.

Mrs Barron also operates a separate loan account and the balance owing to her as at the financial year end was £18,780. This loan is repaid at a fixed monthly rate of £425.63 subject to the availability of funds. Interest of £1,036 was charged during the year.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs F L Barron.