OPAL INVESTMENTS LONDON LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
OPAL INVESTMENTS LONDON LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
OPAL INVESTMENTS LONDON LIMITED (REGISTERED NUMBER: 10284022) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OPAL INVESTMENTS LONDON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Registered Auditors |
2 Villiers Court |
40 Upper Mulgrave Road |
Cheam |
Surrey |
SM2 7AJ |
OPAL INVESTMENTS LONDON LIMITED (REGISTERED NUMBER: 10284022) |
BALANCE SHEET |
31ST MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
OPAL INVESTMENTS LONDON LIMITED (REGISTERED NUMBER: 10284022) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
The financial statements were approved by the director and authorised for issue on |
OPAL INVESTMENTS LONDON LIMITED (REGISTERED NUMBER: 10284022) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Opal Investments London Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the 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. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
OPAL INVESTMENTS LONDON LIMITED (REGISTERED NUMBER: 10284022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
Additions |
Disposals | ( |
) |
Revaluations | 407,584 |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2023 | 683,762 |
Valuation in 2024 | 407,584 |
Cost | 6,658,654 |
7,750,000 |
Investment property has been valued at fair value as at 31 March 2024 by the director. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed by associates |
Other debtors |
Directors' current accounts | 392,783 | - |
Tax |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Tax |
Social security and other taxes | ( |
) |
Other creditors |
Wages payable | 3,316 | - |
Pensions payable | 648 | - |
Directors' current accounts | - | 64,782 |
Deferred income |
Accrued expenses |
OPAL INVESTMENTS LONDON LIMITED (REGISTERED NUMBER: 10284022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst | 1,626,200 | 1,626,200 |
Bank loans of £1,626,200 (2022 - £1,626,200) are secured by a charge over the investment properties to |
which they relate. |
10. | RELATED PARTY DISCLOSURES |
As at 31 March 2024 the company was owed £370,909 (2023 - £678,248) by companies under common |
control of the director. |
At 31 March 2024, the company was owed £393,094 by the director (2023: owed £64,782 to the director). This sum was subject to interest at market value and was repaid immediately after the balance sheet date and prior to the signing of the report. |