Registered number
12458891
Opulence Connect Ltd
Filleted Accounts
31 March 2024
Opulence Connect Ltd
Registered number: 12458891
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,092 8,122
Current assets
Stocks 35,040 59,923
Debtors 4 87,401 52,821
Cash at bank and in hand 56,623 26,273
179,064 139,017
Creditors: amounts falling due within one year 5 (135,060) (90,960)
Net current assets 44,004 48,057
Total assets less current liabilities 50,096 56,179
Creditors: amounts falling due after more than one year 6 (28,271) (38,079)
Net assets 21,825 18,100
Capital and reserves
Called up share capital 200 200
Profit and loss account 21,625 17,900
Shareholders' funds 21,825 18,100
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Halai
Director
Approved by the board on 15 September 2024
Opulence Connect Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
Taxation for the year 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 as the amount of tax payable using 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 year end and that are expected to apply to the reversal of timing differences.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 19,250
At 31 March 2024 19,250
Depreciation
At 1 April 2023 11,128
Charge for the year 2,030
At 31 March 2024 13,158
Net book value
At 31 March 2024 6,092
At 31 March 2023 8,122
4 Debtors 2024 2023
£ £
Trade debtors 74,541 43,433
Other debtors 12,860 9,388
87,401 52,821
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,865 20,877
Taxation and social security costs 26,626 9,381
Other creditors 90,569 60,702
135,060 90,960
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,271 38,079
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 28,271 38,079
8 Other information
Opulence Connect Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Redwood House
Kara Way
Cricklewood
London
NW2 2EA
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