Registered number
10763041
Opus CNC Ltd
Filleted Accounts
31 May 2024
Opus CNC Ltd
Registered number: 10763041
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 62,886 101,770
Current assets
Stocks 226,000 304,000
Debtors 4 31,799 125,802
Cash at bank and in hand 87,250 91,776
345,049 521,578
Creditors: amounts falling due within one year 5 (169,955) (166,451)
Net current assets 175,094 355,127
Total assets less current liabilities 237,980 456,897
Creditors: amounts falling due after more than one year 6 (23,030) (169,235)
Net assets 214,950 287,662
Capital and reserves
Called up share capital 2 2
Profit and loss account 214,948 287,660
Shareholders' funds 214,950 287,662
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Amanda Fay
Director
Approved by the board on 27 February 2025
Opus CNC Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Motor Vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant & Machinery Fixtures, Fittings & Office Equip Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 56,718 11,791 180,385 248,894
Additions 6,534 - 16,771 23,305
At 31 May 2024 63,252 11,791 197,156 272,199
Depreciation
At 1 June 2023 26,468 11,791 108,865 147,124
Charge for the year 14,996 - 47,193 62,189
At 31 May 2024 41,464 11,791 156,058 209,313
Net book value
At 31 May 2024 21,788 - 41,098 62,886
At 31 May 2023 30,250 - 71,520 101,770
4 Debtors 2024 2023
£ £
Trade debtors 2,935 96,412
Other debtors 28,864 29,390
31,799 125,802
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 44,254 27,972
Taxation and social security costs 125,701 138,479
Other creditors - -
169,955 166,451
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,030 169,235
Other creditors - -
23,030 169,235
7 Other information
Opus CNC Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Units A-D, Roeburn House
Mandale Business Park
Belmont Industrial Estate
Durham
DH1 1TH
Opus CNC Ltd 10763041 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Amanda Fay No description of principal activity 10763041 2022-06-01 2023-05-31 10763041 core:WithinOneYear 2023-05-31 10763041 core:AfterOneYear 2023-05-31 10763041 core:ShareCapital 2023-05-31 10763041 core:RetainedEarningsAccumulatedLosses 2023-05-31 10763041 2023-06-01 2024-05-31 10763041 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10763041 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10763041 bus:Director40 2023-06-01 2024-05-31 10763041 1 2023-06-01 2024-05-31 10763041 2 2023-06-01 2024-05-31 10763041 core:LandBuildings 2023-06-01 2024-05-31 10763041 core:PlantMachinery 2023-06-01 2024-05-31 10763041 core:Vehicles 2023-06-01 2024-05-31 10763041 countries:England 2023-06-01 2024-05-31 10763041 bus:FRS102 2023-06-01 2024-05-31 10763041 bus:FilletedAccounts 2023-06-01 2024-05-31 10763041 2024-05-31 10763041 core:WithinOneYear 2024-05-31 10763041 core:AfterOneYear 2024-05-31 10763041 core:ShareCapital 2024-05-31 10763041 core:RetainedEarningsAccumulatedLosses 2024-05-31 10763041 core:LandBuildings 2024-05-31 10763041 core:PlantMachinery 2024-05-31 10763041 core:Vehicles 2024-05-31 10763041 2023-05-31 10763041 core:LandBuildings 2023-05-31 10763041 core:PlantMachinery 2023-05-31 10763041 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure