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OPERIS DEVELOPMENTS LIMITED

Registered Number
07612314
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

OPERIS DEVELOPMENTS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Timothy Clark

Registered Address

Leanne House
6 Avon Close
Weymouth
DT4 9UX

Registered Number

07612314 (England and Wales)
OPERIS DEVELOPMENTS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets419,60423,690
Investment property53,410,0003,325,000
3,429,6043,348,690
Current assets
Debtors10,9362,581
Cash at bank and on hand33,6351,908
44,5714,489
Creditors amounts falling due within one year6(964,884)(1,055,398)
Net current assets (liabilities)(920,313)(1,050,909)
Total assets less current liabilities2,509,2912,297,781
Creditors amounts falling due after one year7(1,492,885)(1,366,978)
Provisions for liabilities8(196,799)(179,799)
Net assets819,607751,004
Capital and reserves
Called up share capital1,0001,000
Revaluation reserve813,201745,201
Profit and loss account5,4064,803
Shareholders' funds819,607751,004
The financial statements were approved and authorised for issue by the Director on 29 January 2025, and are signed on its behalf by:
Timothy Clark
Director
Registered Company No. 07612314
OPERIS DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from rendering of services
Revenue 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.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees
The company is run and administered by the director of the company of which there is no formal employment contract in place.

20242023
Average number of employees during the year11
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 237,14737,04527,25571,447
At 31 March 247,14737,04527,25571,447
Depreciation and impairment
At 01 April 234,63726,37616,74447,757
Charge for year3762,1341,5764,086
At 31 March 245,01328,51018,32051,843
Net book value
At 31 March 242,1348,5358,93519,604
At 31 March 232,51010,66910,51123,690
5.Investment property

£
Fair value at 01 April 233,325,000
Fair value adjustments85,000
At 31 March 243,410,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables17,89016,289
Bank borrowings and overdrafts4,00034,500
Taxation and social security2,507-
Finance lease and HP contracts-9,430
Other creditors929,750978,428
Accrued liabilities and deferred income10,73716,751
Total964,8841,055,398
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,492,8851,366,978
Total1,492,8851,366,978
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)196,799179,799
Total196,799179,799