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REGISTERED NUMBER: 03866516 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

OPALRISE LIMITED

OPALRISE LIMITED (REGISTERED NUMBER: 03866516)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OPALRISE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S Tandon



SECRETARY: A K Tandon



REGISTERED OFFICE: 13 Mapledale Avenue
Croydon
Surrey
CR0 5TF



REGISTERED NUMBER: 03866516 (England and Wales)



ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY



BANKERS: National Westminster Bank Plc
209 Lower Addiscombe Road
Croydon
CR9 6RB

OPALRISE LIMITED (REGISTERED NUMBER: 03866516)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 865,939 871,252

CURRENT ASSETS
Stocks 111,390 84,094
Debtors 5 8,267 1,334
Cash at bank and in hand 886,446 729,620
1,006,103 815,048
CREDITORS
Amounts falling due within one year 6 150,398 140,854
NET CURRENT ASSETS 855,705 674,194
TOTAL ASSETS LESS CURRENT LIABILITIES 1,721,644 1,545,446

PROVISIONS FOR LIABILITIES 7 122,745 123,685
NET ASSETS 1,598,899 1,421,761

CAPITAL AND RESERVES
Called up share capital 1 1
Undistributable reserve 597,394 597,394
Retained earnings 1,001,504 824,366
SHAREHOLDERS' FUNDS 1,598,899 1,421,761

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

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

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 4 October 2024 and were signed by:





S Tandon - Director


OPALRISE LIMITED (REGISTERED NUMBER: 03866516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Opalrise 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, in respect of retail sales which is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 7 (2023 - 9 ) .

OPALRISE LIMITED (REGISTERED NUMBER: 03866516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 850,000 76,444 97,478 1,023,922
DEPRECIATION
At 1 April 2023 - 76,026 76,644 152,670
Charge for year - 104 5,209 5,313
At 31 March 2024 - 76,130 81,853 157,983
NET BOOK VALUE
At 31 March 2024 850,000 314 15,625 865,939
At 31 March 2023 850,000 418 20,834 871,252

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2008 338,237 - - 338,237
Valuation in 2016 380,000 - - 380,000
Cost 131,763 76,444 97,478 305,685
850,000 76,444 97,478 1,023,922

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 7,008 -
Other debtors 1,259 1,334
8,267 1,334

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 67,275 52,248
Taxation and social security 65,850 58,405
Other creditors 17,273 30,201
150,398 140,854

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 122,745 123,685

OPALRISE LIMITED (REGISTERED NUMBER: 03866516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 123,685
Provided during year (940 )
Balance at 31 March 2024 122,745

8. RELATED PARTY DISCLOSURES

Included in creditors as at 31 March 2024 is £666 (2023: £666) an amount due to the director of the company. There are no specific terms of repayment.