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COMPANY REGISTRATION NUMBER: 12619459
Opus Care Developments Limited
Filleted Financial Statements
30 September 2024
Opus Care Developments Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Opus Care Developments Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Current assets
Stocks
3,924,838
2,864,337
Debtors
5
321,480
7,776
Cash at bank and in hand
10
10
------------
------------
4,246,328
2,872,123
Creditors: amounts falling due within one year
6
2,576,996
2,100,442
------------
------------
Net current assets
1,669,332
771,681
------------
---------
Total assets less current liabilities
1,669,332
771,681
Creditors: amounts falling due after more than one year
7
1,674,989
775,228
------------
---------
Net liabilities
( 5,657)
( 3,547)
------------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 5,667)
( 3,557)
-------
-------
Shareholder deficit
( 5,657)
( 3,547)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 3 June 2025 , and are signed on behalf of the board by:
Dr D S Kinnersley
Director
Company registration number: 12619459
Opus Care Developments Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brabourne Care Centre, 209 Hythe Road, Ashford, Kent, TN24 8PL, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has considered the basis of the preparation of the accounts and is satisfied that the accounts should be prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2023: 1).
5. Debtors
2024
2023
£
£
Other debtors
321,480
7,776
---------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,576,996
2,100,442
------------
------------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,674,989
775,228
------------
---------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the company's assets and undertakings by United Trust Bank Limited.
8. Summary audit opinion
The auditor's report dated 3 June 2025 was unqualified .
The senior statutory auditor was Robert Field FCA CTA , for and on behalf of Burgess Hodgson LLP .
9. Related party transactions
At the year end, the company owed £2,576,996 (2023: £2,100,422) to a company related by common control.
10. Controlling party
The company's ultimate parent company is Opus Care Holdings Limited a company incorporated in England and Wales. The registered office of said company is Brabourne Care Centre, 209 Hythe Road, Ashford, Kent, United Kingdom, TN24 8PL .