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COMPANY REGISTRATION NUMBER: 03188219
OPUS 4 LOGISTICS LIMITED
Filleted Financial Statements
30 September 2024
OPUS 4 LOGISTICS LIMITED
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
OPUS 4 LOGISTICS LIMITED
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
149,892
Tangible assets
6
189,519
206,783
---------
---------
339,411
206,783
Current assets
Stocks
445,807
489,292
Debtors
7
2,251,528
2,315,799
Investments
8
84,244
Cash at bank and in hand
2,517,154
1,159,475
------------
------------
5,214,489
4,048,810
Creditors: amounts falling due within one year
9
3,521,048
2,957,952
------------
------------
Net current assets
1,693,441
1,090,858
------------
------------
Total assets less current liabilities
2,032,852
1,297,641
Creditors: amounts falling due after more than one year
10
79,498
109,554
Provisions
39,605
47,575
------------
------------
Net assets
1,913,749
1,140,512
------------
------------
Capital and reserves
Called up share capital
11
100
100
Profit and loss account
1,913,649
1,140,412
------------
------------
Shareholders funds
1,913,749
1,140,512
------------
------------
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
OPUS 4 LOGISTICS LIMITED
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:
Mr D M Blackburn
Mr D M Murphy
Director
Director
Mr I C L Schofield
Director
Company registration number: 03188219
OPUS 4 LOGISTICS 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 210 Chester Road, Manchester, M15 4JE, England.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
15% straight line
Plant and machinery
-
15% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% straight line
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 21 (2023: 17 ).
5. Intangible assets
Investments
£
Cost
Additions
Revaluations
65,648
Transfers
84,244
---------
At 30 September 2024
149,892
---------
Amortisation
At 1 October 2023 and 30 September 2024
---------
Carrying amount
At 30 September 2024
149,892
---------
At 30 September 2023
---------
Intangible assets held at valuation
The revaluation of intangible assets was carried out by the directors on 30 September 2024 using the market value method and third-party statements. The carrying amount that would have been recognised had the assets been carried under the historical cost model is £250,000.
6. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
110,122
20,387
44,718
320,828
70,342
566,397
Additions
6,142
76,006
12,803
94,951
Disposals
( 85,220)
( 85,220)
---------
--------
--------
---------
--------
---------
At 30 Sep 2024
110,122
20,387
50,860
311,614
83,145
576,128
---------
--------
--------
---------
--------
---------
Depreciation
At 1 Oct 2023
90,314
18,010
27,797
167,203
56,290
359,614
Charge for the year
4,203
1,005
7,412
74,548
13,437
100,605
Disposals
( 73,610)
( 73,610)
---------
--------
--------
---------
--------
---------
At 30 Sep 2024
94,517
19,015
35,209
168,141
69,727
386,609
---------
--------
--------
---------
--------
---------
Carrying amount
At 30 Sep 2024
15,605
1,372
15,651
143,473
13,418
189,519
---------
--------
--------
---------
--------
---------
At 30 Sep 2023
19,808
2,377
16,921
153,625
14,052
206,783
---------
--------
--------
---------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 September 2024
62,809
--------
At 30 September 2023
32,630
--------
7. Debtors
2024
2023
£
£
Trade debtors
2,162,016
2,196,429
Other debtors
89,512
119,370
------------
------------
2,251,528
2,315,799
------------
------------
8. Investments
2024
2023
£
£
Other investments
84,244
----
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
Trade creditors
2,349,137
2,079,674
Amounts owed to group undertakings and undertakings in which the company has a participating interest
105,238
30,038
Corporation tax
260,889
220,274
Social security and other taxes
629,599
434,482
Other creditors
176,185
183,484
------------
------------
3,521,048
2,957,952
------------
------------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,333
Amounts owed to group undertakings and undertakings in which the company has a participating interest
47,396
77,434
Other creditors
32,102
13,787
--------
---------
79,498
109,554
--------
---------
11. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
67
67
67
67
Ordinary C shares of £ 1 each
29
29
29
29
Ordinary D shares of £ 1 each
1
1
1
1
Ordinary E shares of £ 1 each
1
1
1
1
Ordinary G shares of £ 1 each
1
1
1
1
Ordinary H shares of £1 each
1
1
1
1
----
----
----
----
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
67
67
67
67
Ordinary C shares of £ 1 each
29
29
29
29
Ordinary D shares of £ 1 each
1
1
1
1
Ordinary E shares of £ 1 each
1
1
1
1
Ordinary G shares of £ 1 each
1
1
1
1
Ordinary H shares of £1 each
1
1
1
1
----
----
----
----
100
100
100
100
----
----
----
----
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
19,104
19,905
Later than 1 year and not later than 5 years
13,333
--------
--------
19,104
33,238
--------
--------
13. Summary audit opinion
The auditor's report dated 12 June 2025 was unqualified .
The senior statutory auditor was Paul A. O'Brien FCA , for and on behalf of Edwards Veeder LLP .
14. Directors' advances, credits and guarantees
At 30 September 2024 the company owed its directors £2,777. No interest has been charged to the company in respect of the loan which is classified under creditors falling due within one year. At 30 September 2023 included within other debtors is an amount owed to the company of £28,443 by its directors.
15. Related party transactions
At 30 September 2024 the company owed £152,634 (2023: £107,472) to companies related by common ownership and control. There are no fixed repayment terms on amounts outstanding. No securities have been given or received. Transactions during the year amounted to £8,662 (2023: £6,497) made up of loan interest paid.
16. Controlling party
The company is a subsidiary of DB2 Investments Ltd, a company incorporated in England and Wales. Copies of the ultimate parent company's financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.