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REGISTERED NUMBER: 03644095 (England and Wales)










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: M Hamilton-Davies



REGISTERED OFFICE: 118 Burcott Road
Avonmouth
Bristol
BS11 8AB



REGISTERED NUMBER: 03644095 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Philip Evans BSc FCA



AUDITORS: PJE Chartered Accountants & Statutory 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 1,294,063 589,769
Investments 6 95 95
1,294,158 589,864

CURRENT ASSETS
Stocks 7 57,997 62,457
Debtors 8 1,620,789 1,243,804
Cash at bank 302,152 497,188
1,980,938 1,803,449
CREDITORS
Amounts falling due within one year 9 2,266,018 1,905,881
NET CURRENT LIABILITIES (285,080 ) (102,432 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,009,078

487,432

CREDITORS
Amounts falling due after more than one
year

10

(172,271

)

(282,289

)

PROVISIONS FOR LIABILITIES (10,181 ) (8,558 )
NET ASSETS 826,626 196,585

CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Revaluation reserve 725,653 -
Retained earnings 99,973 195,585
SHAREHOLDERS' FUNDS 826,626 196,585

OPALTEC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03644095)

BALANCE SHEET - continued
29 NOVEMBER 2023


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 29 November 2024 and were signed by:





M Hamilton-Davies - Director


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 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. 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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 25 (2022 - 22 ) .

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 574,347 540,306 1,114,653
Additions - 13,065 13,065
Revaluations 725,653 - 725,653
At 29 November 2023 1,300,000 553,371 1,853,371
DEPRECIATION
At 1 December 2022 99,096 425,788 524,884
Charge for period 10,902 23,522 34,424
At 29 November 2023 109,998 449,310 559,308
NET BOOK VALUE
At 29 November 2023 1,190,002 104,061 1,294,063
At 30 November 2022 475,251 114,518 589,769

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 95
NET BOOK VALUE
At 29 November 2023 95
At 30 November 2022 95

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Gloucester Sport and Leisure Limited
Registered office: 118 Burcott Road, Avonmouth, Bristol, BS11 8AD
Nature of business: running of ski and snowboarding centre
%
Class of shares: holding
ordinary 95.00

7. STOCKS
29.11.23 30.11.22
£    £   
Stocks 57,997 62,457

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 30.11.22
£    £   
Trade debtors 531,142 635,886
Amounts owed by group undertakings 710,613 591,340
Other debtors 82,034 6,647
Directors' current accounts 286,066 -
Prepayments and accrued income 10,934 9,931
1,620,789 1,243,804

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) 105,000 105,000
Other loans (see note 11) 267,153 409,943
Hire purchase contracts 8,571 7,032
Trade creditors 684,238 408,877
Tax 10,885 7,321
Social security and other taxes 37,037 23,578
VAT 126,341 80,972
Other creditors 128,250 72,836
Directors' current accounts - 80
Accruals and deferred income 898,543 790,242
2,266,018 1,905,881

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.11.23 30.11.22
£    £   
Bank loans (see note 11) 126,674 227,113
Hire purchase contracts 45,597 55,176
172,271 282,289

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 105,000 105,000
Factor creditor 267,153 409,943
372,153 514,943

Amounts falling due between one and two years:
Bank loans - 1-2 years 105,000 105,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 21,674 122,113

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 231,674 332,113

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: £    £   
1,000 ordinary 1 1,000 1,000

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Evans BSc FCA (Senior Statutory Auditor)
for and on behalf of PJE Chartered Accountants & Statutory Auditors

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
£    £   
M Hamilton-Davies
Balance outstanding at start of period (80 ) (420 )
Amounts advanced 686,146 434,440
Amounts repaid (400,000 ) (434,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 286,066 (80 )

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 company's immediate parent is The Hamilton-Davies Group Limited, incorporated in England and Wales.

The most senior parent entity producing publicly available financial statements is The Hamilton-Davies Group Limited. The ultimate controlling party is M Hamilton-Davies.