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REGISTERED NUMBER: 08960444 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Opus Underwriting Limited

Opus Underwriting Limited (Registered number: 08960444)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Opus Underwriting Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Bobo
D R Jewell
R J Tee





SECRETARY: Avantis Services Limited





REGISTERED OFFICE: 5th Floor 20 Gracechurch Street
London
United Kingdom
EC3V 0BG





REGISTERED NUMBER: 08960444 (England and Wales)






Opus Underwriting Limited (Registered number: 08960444)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,171 -
Investments 5 - 70
4,171 70

CURRENT ASSETS
Debtors 6 117,788 228,560
Cash at bank 2,559 2,874
120,347 231,434
CREDITORS
Amounts falling due within one year 7 1,135,339 1,037,486
NET CURRENT LIABILITIES (1,014,992 ) (806,052 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,010,821

)

(805,982

)

CREDITORS
Amounts falling due after more than one
year

8

385,833

395,833
NET LIABILITIES (1,396,654 ) (1,201,815 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (1,406,654 ) (1,211,815 )
(1,396,654 ) (1,201,815 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Opus Underwriting Limited (Registered number: 08960444)

Balance Sheet - continued
31 December 2023


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 6 September 2024 and were signed on its behalf by:





S Bobo - Director


Opus Underwriting Limited (Registered number: 08960444)

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

1. STATUTORY INFORMATION

Opus Underwriting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
After making enquiries, the directors have a reasonable expectations that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - Straight line over 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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 year 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.

Opus Underwriting Limited (Registered number: 08960444)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 8,270
Additions 4,815
At 31 December 2023 13,085
DEPRECIATION
At 1 January 2023 8,270
Charge for year 644
At 31 December 2023 8,914
NET BOOK VALUE
At 31 December 2023 4,171
At 31 December 2022 -

Opus Underwriting Limited (Registered number: 08960444)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 January 2023 70
Impairments (70 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 70

The share capital value of Opus Underwriting North America LLC - 100% subsidiary, was written down to nil value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 52,507 65,363
Other debtors 65,281 163,197
117,788 228,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 79,274 76,390
Amounts owed to group undertakings 1,043,953 951,096
Other creditors 2,112 -
1,135,339 1,037,486

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,833 25,833
Other creditors 370,000 370,000
385,833 395,833

Opus Underwriting Limited (Registered number: 08960444)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES

An amount of £1,043,953 (2022: £951,096) owed to group undertakings is interest free and repayable on demand.

An amount of £370,000 (2022: £370,000) included in Other creditors due in more than a year represent an unsecured non-interest bearing loan from a director.