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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: J M Fitzgerald





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 10284022 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
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 7,750,000 6,775,000

CURRENT ASSETS
Debtors 6 763,692 1,140,048
Cash at bank 404,867 889,283
1,168,559 2,029,331
CREDITORS
Amounts falling due within one year 7 407,945 677,950
NET CURRENT ASSETS 760,614 1,351,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,510,614

8,126,381

CREDITORS
Amounts falling due after more than one
year

8

(1,637,332

)

(1,647,984

)

PROVISIONS FOR LIABILITIES (712,103 ) (712,103 )
NET ASSETS 6,161,179 5,766,294

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,161,178 5,766,293
SHAREHOLDERS' FUNDS 6,161,179 5,766,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 31st August 2024 and were signed by:





J M Fitzgerald - Director


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 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 2 (2023 - 2 ) .

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 6,775,000
Additions 1,067,416
Disposals (500,000 )
Revaluations 407,584
At 31st March 2024 7,750,000
NET BOOK VALUE
At 31st March 2024 7,750,000
At 31st March 2023 6,775,000

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 370,909 678,248
Other debtors - 451,161
Directors' current accounts 392,783 -
Tax - 10,639
763,692 1,140,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 10,535 9,968
Tax 3,530 65,660
Social security and other taxes (1,468 ) -
Other creditors 376,848 521,584
Wages payable 3,316 -
Pensions payable 648 -
Directors' current accounts - 64,782
Deferred income 5,003 -
Accrued expenses 9,533 15,956
407,945 677,950

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) 1,637,332 1,647,984

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

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 10,535 9,968

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,535 9,968

Amounts falling due between two and five years:
Bank loans - 2-5 years 597 11,816

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.