REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
FOR |
OPALTEC INTERNATIONAL LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
FOR |
OPALTEC INTERNATIONAL LIMITED |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OPALTEC INTERNATIONAL LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
2 Oakfield Road |
Clifton |
Bristol |
BS8 2AL |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
BALANCE SHEET |
29 NOVEMBER 2023 |
29.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
BALANCE SHEET - continued |
29 NOVEMBER 2023 |
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 |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Opaltec International Limited is a |
2. | 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. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 period 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. |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | AUDITORS' REMUNERATION |
Period |
1.12.22 |
to | Year Ended |
29.11.23 | 30.11.22 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
5,000 |
12,500 |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 December 2022 |
Additions |
Revaluations |
At 29 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for period |
At 29 November 2023 |
NET BOOK VALUE |
At 29 November 2023 |
At 30 November 2022 |
Cost or valuation at 29 November 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2023 | 725,653 | - | 725,653 |
Cost | 574,347 | 553,371 | 1,127,718 |
1,300,000 | 553,371 | 1,853,371 |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 December 2022 |
and 29 November 2023 |
NET BOOK VALUE |
At 29 November 2023 |
At 30 November 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 118 Burcott Road, Avonmouth, Bristol, BS11 8AD |
Nature of business: |
% |
Class of shares: | holding |
7. | STOCKS |
29.11.23 | 30.11.22 |
£ | £ |
Stocks |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 286,066 | - |
Prepayments and accrued income |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Other loans (see note 11) |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 126,341 | 80,972 |
Other creditors |
Directors' current accounts | - | 80 |
Accruals and deferred income |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.11.23 | 30.11.22 |
£ | £ |
Bank loans (see note 11) |
Hire purchase contracts |
11. | LOANS |
An analysis of the maturity of loans is given below: |
29.11.23 | 30.11.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Factor creditor |
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 |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
12. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.11.23 | 30.11.22 |
£ | £ |
Bank loans |
The bank borrowings are secured by way of a fixed and floating charge over all property and assets of the company. |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.11.23 | 30.11.22 |
value: | £ | £ |
ordinary | 1 | 1,000 | 1,000 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
15. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 29 November 2023 and the year ended 30 November 2022: |
29.11.23 | 30.11.22 |
£ | £ |
Balance outstanding at start of period | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023 |
16. | ULTIMATE CONTROLLING PARTY |
The most senior parent entity producing publicly available financial statements is The Hamilton-Davies Group Limited. The ultimate controlling party is M Hamilton-Davies. |