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Registered number: 07917516
Opus Construct Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
E Johnson & Associates Ltd
637 Green Lanes
London
N8 0RE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07917516
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,506 561
12,506 561
CURRENT ASSETS
Stocks 5 123,900 8,136
Debtors 6 111,623 123,823
Cash at bank and in hand 4,176 21,777
239,699 153,736
Creditors: Amounts Falling Due Within One Year 7 (286,777 ) (177,067 )
NET CURRENT ASSETS (LIABILITIES) (47,078 ) (23,331 )
TOTAL ASSETS LESS CURRENT LIABILITIES (34,572 ) (22,770 )
Creditors: Amounts Falling Due After More Than One Year 8 (25,489 ) (25,833 )
NET LIABILITIES (60,061 ) (48,603 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (60,161 ) (48,703 )
SHAREHOLDERS' FUNDS (60,061) (48,603)
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C Cosma
Director
30th October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Opus Construct Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07917516 . The registered office is 31 Cleves Road, Hemel Hempstead, Hertfordshire, HP2 7LQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements have been prepared on the going concern basis.This assumes that the company will continue in operational existence for the foreseeable future.
At the balance sheet date, the company's liabilities for the period from 1 February 2023 to 31 January 2024 exceed its assets. The directors of the company have sought assurance from the creditors that their debts will not be called in within the next twelve months.
The directors have been therefore deemed it appropriate that the financial statements be prepared on the going concern basis.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 - 998 998
Additions 14,125 2,051 16,176
As at 31 January 2024 14,125 3,049 17,174
Depreciation
As at 1 February 2023 - 437 437
Provided during the period 3,531 700 4,231
As at 31 January 2024 3,531 1,137 4,668
Net Book Value
As at 31 January 2024 10,594 1,912 12,506
As at 1 February 2023 - 561 561
5. Stocks
2024 2023
£ £
Work in progress 123,900 8,136
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,000 2,000
Other debtors 12,200 12,200
14,200 14,200
Due after more than one year
Other debtors 97,423 109,623
111,623 123,823
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,511 -
Trade creditors 23,152 14,460
Bank loans and overdrafts 10,000 10,000
Other creditors 110,434 2,673
Taxation and social security 139,680 149,934
286,777 177,067
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,656 -
Bank loans 15,833 25,833
25,489 25,833
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,511 -
Later than one year and not later than five years 9,656 -
13,167 -
13,167 -
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
11. Related Party Transactions
During the year, no dividend was paid to the directors.
12. Ultimate Controlling Party
The company is controlled by the directors of the company.
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