REGISTERED NUMBER: 07556710 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OPES FINANCIAL PARTNERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Rashid

REGISTERED OFFICE:

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

REGISTERED NUMBER:

07556710 (England and Wales)

FIXED ASSETS

Tangible assets

4

85,055

105,638

CURRENT ASSETS

Debtors

5

1,169,801

1,022,875

Cash at bank

108,237

-

1,278,038

1,022,875

CREDITORS

Amounts falling due within one year

6

1,159,287

943,927

NET CURRENT ASSETS

118,751

78,948

TOTAL ASSETS LESS CURRENT LIABILITIES

203,806

184,586

CREDITORS

Amounts falling due after more than one year

7

80,563

80,471

NET ASSETS

123,243

104,115

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

123,143

104,015

SHAREHOLDERS' FUNDS

123,243

104,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 22 May 2025 and were signed by:

M Rashid - Director

1.	STATUTORY INFORMATION

OPES Financial Partners 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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

10% on reducing balance

Taxation

Taxation for the year 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.

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.

Going concern

In preparing the financial statements the director is required to assess the company's ability to continue to trade as a going concern for the foreseeable future.

In undertaking this assessment, the director have given due consideration to the company's banking facilities, historical and current trading, together with the forward-looking projections and is happy that there are no material uncertainties that may cause significant doubt about the ability of the company to continue as a going concern.

As such, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

and

Motor

Computer

furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2023

and 31 March 2024

51,780

150,000

36,226

238,006

DEPRECIATION

At 1 April 2023

30,620

83,203

18,545

132,368

Charge for year

2,116

16,699

1,768

20,583

At 31 March 2024

32,736

99,902

20,313

152,951

NET BOOK VALUE

At 31 March 2024

19,044

50,098

15,913

85,055

At 31 March 2023

21,160

66,797

17,681

105,638

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2023

and 31 March 2024

150,000

DEPRECIATION

At 1 April 2023

83,203

Charge for year

16,699

At 31 March 2024

99,902

NET BOOK VALUE

At 31 March 2024

50,098

At 31 March 2023

66,797

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

32,756

-

Other debtors

1,137,045

1,022,875

1,169,801

1,022,875

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

84,311

90,137

Hire purchase contracts

31,500

96,424

Trade creditors

32,083

44,091

Taxation and social security

517,249

394,706

Other creditors

494,144

318,569

1,159,287

943,927

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

24,648

80,471

Hire purchase contracts

55,915

-

80,563

80,471

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following loans a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024

2023

£

£

M Rashid

Balance outstanding at start of year

217,128

133,779

Amounts advanced

-

217,128

Amounts repaid

(217,128

)

(133,779

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

217,128

During the period under review the company loaned money to M Davis (shareholder) and M Rashid (shareholder and director), the balances were repaid in full within 9 months of the balance sheet date.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Rashid.