OPUS LOUNGE LIMITED


Director	CONIBEAR, Toby Simon Ross


Registered Address	Abacus House
	Caxton Place
	Cardiff
	CF23 8HA


Registered Number	05336181 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		3,153		4,949
			3,153		4,949
Current assets
Debtors		2,159		1,491
Cash at bank and on hand		101,450		132,255
		103,609		133,746
Creditors amounts falling due within one year	4	(79,408)		(88,462)
Net current assets (liabilities)			24,201		45,284
Total assets less current liabilities			27,354		50,233
Net assets			27,354		50,233
Capital and reserves
Called up share capital			2,196		2,000
Share premium			327,804		188,000
Profit and loss account			(302,646)		(139,767)
Shareholders' funds			27,354		50,233

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 12 September 2025, and are signed on its behalf by:

CONIBEAR, Toby Simon Ross
Director
Registered Company No. 05336181

OPUS LOUNGE LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Revenue from sale of goods
	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. Revenue from the provision of services is recognised over the period to which they relate.

Revenue from sale of goods

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.

Revenue from the provision of services is recognised over the period to which they relate.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	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
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	3
	Office Equipment	3

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	3,545	3,697	7,242
Additions	-	696	696
At 31 December 24	3,545	4,393	7,938
Depreciation and impairment
At 01 January 24	1,252	1,041	2,293
Charge for year	1,182	1,310	2,492
At 31 December 24	2,434	2,351	4,785
Net book value
At 31 December 24	1,111	2,042	3,153
At 31 December 23	2,293	2,656	4,949

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	2,475	1,045
Bank borrowings and overdrafts	1,712	1,612
Taxation and social security	4,157	3,045
Other creditors	49,152	56,223
Accrued liabilities and deferred income	21,912	26,537
Total	79,408	88,462


	Included within creditors is a loan from the director of £737 (2023: £5,896)