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Registration number: 11701403

OPM (NW) LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

OPM (NW) LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

OPM (NW) LTD

Company Information

Directors

Mark Henry Platts

Henry Mark Powell-Platts

Registered office

643 Ecclesall Road
Sheffield
South Yorkshire
S11 8PT

Accountants

CHF Accountancy Limited
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

 

OPM (NW) LTD

(Registration number: 11701403)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

294,069

293,420

Cash at bank and in hand

 

781

1,068

 

294,850

294,488

Creditors: Amounts falling due within one year

5

(276,825)

(276,721)

Total assets less current liabilities

 

18,025

17,767

Creditors: Amounts falling due after more than one year

5

(29,172)

(34,568)

Net liabilities

 

(11,147)

(16,801)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(11,247)

(16,901)

Shareholders' deficit

 

(11,147)

(16,801)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

.........................................
Mark Henry Platts
Director

 

OPM (NW) LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
643 Ecclesall Road
Sheffield
South Yorkshire
S11 8PT
United Kingdom

These financial statements were authorised for issue by the Board on 2 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

OPM (NW) LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

8

294,069

293,420

   

294,069

293,420

 

OPM (NW) LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,405

5,281

Accruals and deferred income

 

1,320

1,320

Other creditors

 

270,100

270,120

 

276,825

276,721

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

29,172

34,568

2024
£

2023
£

Due after more than five years

After more than five years by instalments

6,133

12,075

-

-

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary shares of £1 each

100

100

100

100

       
 

OPM (NW) LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

29,172

34,568

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,405

5,281

Bank borrowings

Bounceback loan is denominated in GB£ with a nominal interest rate of 2.5%%, and the final instalment is due on 2 June 2030. The carrying amount at year end is £34,578 (2023 - £39,849).

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

£6,133 (2023 : £12,075) of the bank loan is repayable by instalments falling due after more than 5 years

8

Related party transactions

Summary of transactions with parent

At 30 June 2024 the company was owed £294,069 by its parent company Spacepad Construction Limited (2023 : £ 293,420), which is included in debtors.