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Registered number: 05260482
OP Holdings Limited
Financial Statements
For The Year Ended 31 December 2024
King Loose & Co
5 South Parade
Summertown
Oxford
Oxfordshire
OX2 7JL
OP Holdings Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
OP Holdings Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 05260482

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 12,677,938 |  | 12,656,662
|  |  | 12,677,938 |  | 12,656,662
CURRENT ASSETS
Cash at bank and in hand |  | 62 |  | 226 |
|  | 62 |  | 226 |
Creditors: Amounts Falling Due Within One Year | 5 | (437,960 ) |  | (409,400 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (437,898 ) |  | (409,174 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 12,240,040 |  | 12,247,488
Creditors: Amounts Falling Due After More Than One Year | 6 |  | (7,269,210 ) |  | (7,334,880 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (435,000 ) |  | (435,000 )
NET ASSETS |  |  | 4,535,830 |  | 4,477,608
CAPITAL AND RESERVES
Called up share capital | 8 |  | 20,000 |  | 20,000
Fair value reserve | 9 |  | 2,342,096 |  | 2,342,096
Profit and Loss Account |  |  | 2,173,734 |  | 2,115,512
SHAREHOLDERS' FUNDS |  |  | 4,535,830 |  | 4,477,608

Page 1
Page 2
OP Holdings Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 2024 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr M B Wallbutton Director
18th September 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
OP Holdings Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
OP Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05260482 . The registered office is 5 South Parade, Summertown, Oxford, Oxfordshire, OX2 7JL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention, subject to investment property being carried at fair value, and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue recognition
Operating lease income from investment properties is recognised in the profit and loss on a straight line basis over the lease term.
Interest income
Interest income is recognised as interest accrues using the effective interest rate method.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | Not depreciated, carried at fair value
Fixtures & Fittings | 15% reducing balance

2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
OP Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Tangible Assets

| Land & Property
--- | ---
| Freehold | Fixtures & Fittings | Total
| £ | £ | £
Cost or Valuation
As at 1 January 2024 | 12,631,102 | 109,982 | 12,741,084
Additions | - | 29,540 | 29,540
As at 31 December 2024 | 12,631,102 | 139,522 | 12,770,624
Depreciation
As at 1 January 2024 | - | 84,422 | 84,422
Provided during the period | - | 8,264 | 8,264
As at 31 December 2024 | - | 92,686 | 92,686
Net Book Value
As at 31 December 2024 | 12,631,102 | 46,836 | 12,677,938
As at 1 January 2024 | 12,631,102 | 25,560 | 12,656,662

5. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 160,000 |  | 160,000
Corporation tax | 5,707 |  | 27,490
Interest accrual | 262,263 |  | 210,156
Accruals | 9,990 |  | 11,754
| 437,960 |  | 409,400

6. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans | 3,598,660 |  | 3,833,728
Unsecured loan | 786,313 |  | 786,313
Directors loan account | 452,669 |  | 452,669
Amounts owed to associated company | 2,431,568 |  | 2,262,170
| 7,269,210 |  | 7,334,880

The unsecured loan shown above carries interest at 1.5% above the Barclays Bank plc base rate.
The director's loan account is unsecured and non interest bearing.
7. Secured Creditors
Barclays Bank plc hold legal charges and mortgages for the company's indebtedness to the extent of fixed and floating charges over all of the company's assets, dated 13th February 2020 and 21st February 2020.
The current bank loan arrangement, reflected in the notes above, is due for repayment or renewal on 13th February 2025. As it is anticipated that the renewal, or indeed any replacement, will follow a similar pattern to the current arrangements, the allocation of capital sums outstanding between amounts due in 1 year, and amounts due in 2-5 years, has been adopted in these accounts.
Additionally, there is a cross guarantee and debenture in place between OP Holdings Limited and Oxford Products Limited. This is dated 13th February 2020.
Page 4
Page 5
OP Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
8. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
200,000 Ordinary Shares of £ 0.10 each | 20,000 |  | 20,000

9. Reserves

| Fair Value Reserve
--- | ---
| £
As at 1 January 2024 | 2,342,096
As at 31 December 2024 | 2,342,096

10. Related Party Transactions
The associated company is Oxford Products Limited, formerly a subsidiary of OP Holdings Limited. The two companies are associated by virtue of common directorships. OP Holdings Limited received rent of £600,000 (2023: £600,000) from, and paid interest of £137,636 (2023: £128,047) to Oxford Products Limited during the year.
11. Ultimate Controlling Party
The directors consider the ultimate holding entity for OP Holdings Limited to be OP Holdings Limited Share Release Trust, the trustee for which is Belize Offshore Services Ltd.
Page 5