Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29No description of principal activitytruefalse2023-03-012219falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12485747 2023-03-01 2024-02-29 12485747 2022-03-01 2023-02-28 12485747 2024-02-29 12485747 2023-02-28 12485747 c:Director1 2023-03-01 2024-02-29 12485747 d:Buildings d:ShortLeaseholdAssets 2023-03-01 2024-02-29 12485747 d:Buildings d:ShortLeaseholdAssets 2024-02-29 12485747 d:Buildings d:ShortLeaseholdAssets 2023-02-28 12485747 d:FurnitureFittings 2023-03-01 2024-02-29 12485747 d:FurnitureFittings 2024-02-29 12485747 d:FurnitureFittings 2023-02-28 12485747 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12485747 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12485747 d:CurrentFinancialInstruments 2024-02-29 12485747 d:CurrentFinancialInstruments 2023-02-28 12485747 d:Non-currentFinancialInstruments 2024-02-29 12485747 d:Non-currentFinancialInstruments 2023-02-28 12485747 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12485747 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12485747 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 12485747 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 12485747 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 12485747 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 12485747 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 12485747 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 12485747 d:ShareCapital 2024-02-29 12485747 d:ShareCapital 2023-02-28 12485747 d:RetainedEarningsAccumulatedLosses 2024-02-29 12485747 d:RetainedEarningsAccumulatedLosses 2023-02-28 12485747 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 12485747 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 12485747 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 12485747 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 12485747 c:OrdinaryShareClass1 2023-03-01 2024-02-29 12485747 c:OrdinaryShareClass1 2024-02-29 12485747 c:OrdinaryShareClass1 2023-02-28 12485747 c:FRS102 2023-03-01 2024-02-29 12485747 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12485747 c:FullAccounts 2023-03-01 2024-02-29 12485747 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12485747 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12485747









OPUZ INVESTMENTS AND DEVELOPMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
REGISTERED NUMBER: 12485747

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
325,437
318,009

  
325,437
318,009

Current assets
  

Stocks
  
12,586
17,035

Debtors: amounts falling due within one year
 5 
357,036
20,217

Cash at bank and in hand
 6 
208,065
200,193

  
577,687
237,445

Creditors: amounts falling due within one year
 7 
(505,203)
(512,861)

Net current assets/(liabilities)
  
 
 
72,484
 
 
(275,416)

Total assets less current liabilities
  
397,921
42,593

Creditors: amounts falling due after more than one year
 8 
(21,599)
(31,573)

Provisions for liabilities
  

Deferred tax
  
(62,362)
-

  
 
 
(62,362)
 
 
-

Net assets
  
313,960
11,020


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
313,860
10,920

  
313,960
11,020


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
REGISTERED NUMBER: 12485747
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 October 2024.




Ibrahim Opuz
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Opuz Investments and Development Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 12485747. The address of the registered office is 291 Green Lanes, London N13 4XS.
The principal activity of the company is that of operating a licensed restaurant business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of food and beverages are recorded at the point of sale.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
25 years - over the term of the lease
Fixtures and fittings
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 19).

Page 5

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2023
48,745
286,036
334,781


Additions
32,500
44,299
76,799



At 29 February 2024

81,245
330,335
411,580



Depreciation


At 1 March 2023
1,950
14,822
16,772


Charge for the year on owned assets
3,304
66,067
69,371



At 29 February 2024

5,254
80,889
86,143



Net book value



At 29 February 2024
75,991
249,446
325,437



At 28 February 2023
46,795
271,214
318,009


5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
351,385
4,503

Prepayments and accrued income
5,651
5,623

Deferred taxation
-
10,091

357,036
20,217


Page 6

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
208,065
200,193

208,065
200,193



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
9,968
9,720

Trade creditors
76,523
90,581

Corporation tax
28,831
-

Other taxation and social security
80,324
50,265

Other creditors
300,803
350,386

Accruals and deferred income
8,754
11,909

505,203
512,861



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
21,599
31,573

21,599
31,573


Page 7

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
9,968
9,720


9,968
9,720

Amounts falling due 1-2 years

Bank loans
10,222
9,967


10,222
9,967

Amounts falling due 2-5 years

Bank loans
11,378
21,607


11,378
21,607


Total bank loans
31,568
41,294



10.


Deferred taxation






2024


£






At beginning of year
10,091


Charged to profit or loss
(72,453)



At end of year
(62,362)

Page 8

 
OPUZ INVESTMENTS AND DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
 
10.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(62,362)
(67,804)

Tax losses carried forward
-
77,895

(62,362)
10,091


11.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

Included within Other Creditors are loans of £140,000 (2023: £140,000) due to companies under the control of the immediate family members of the Director. The loans are unsecured, free of interest and repayable on demand.
Included within Other Creditors is a loan amount of £160,000 (2023: £160,000) due to a company in which the Director is a person of significant control. The loan is unsecured, free of interest and repayable on demand.
Included within Other Debtors are loan amounts of £350,000 (2023: £nil) due from companies under common control. The loans are unsecured, free of interest and repayable on demand.

 
Page 9