Company No: 03541763 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		2,885
Tangible assets	4	3,885		5,222
		3,885		8,107
Current assets
Stocks		136,026		137,688
Debtors	5	338,921		144,146
Cash at bank and in hand		122,245		38,321
		597,192		320,155
Creditors: amounts falling due within one year	6	( 585,414)		( 323,835)
Net current assets/(liabilities)		11,778		(3,680)
Total assets less current liabilities		15,663		4,427
Net assets		15,663		4,427
Capital and reserves
Called-up share capital	7	1,099		1,099
Profit and loss account		14,564		3,328
Total shareholder's funds		15,663		4,427

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of OPRO Limited (registered number: 03541763) were approved and authorised for issue by the Director. They were signed on its behalf by:

A L Lovat Director

05 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

OPRO Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the reporting date, the company had net assets of £15,663 and had net current assets of £11,778. Included in current liabilities are amounts due to related parties. The director has confirmed that these amounts, although repayable on demand, will not be called upon in the twelve months from the date of approving these accounts and that the group will provide such financial support as is necessary for the company's operations.

At the time of approving the financial statements, the director therefore has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for goods supplied net of VAT.

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods).

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

3 - 5 years straight line

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of years which is their estimated useful economic life. Provision is made for any impairment.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	47		52

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	90,782		90,782
At 31 March 2025	90,782		90,782
Accumulated amortisation
At 01 April 2024	87,897		87,897
Charge for the financial year	2,885		2,885
At 31 March 2025	90,782		90,782
Net book value
At 31 March 2025	0		0
At 31 March 2024	2,885		2,885

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	455,169		455,169
At 31 March 2025	455,169		455,169
Accumulated depreciation
At 01 April 2024	449,947		449,947
Charge for the financial year	1,337		1,337
At 31 March 2025	451,284		451,284
Net book value
At 31 March 2025	3,885		3,885
At 31 March 2024	5,222		5,222

5. Debtors

	2025		2024
	£		£
Trade debtors	134,173		68,017
Amounts owed by group undertakings	199,526		75,308
Other debtors	5,222		821
	338,921		144,146

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	3,016		2,980
Amounts owed to group undertakings	512,653		220,381
Other taxation and social security	41,616		31,987
Other creditors	28,129		68,487
	585,414		323,835

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
900 Ordinary shares of £ 1.00 each	900		900
99 Ordinary C shares of £ 1.00 each	99		99
50 Ordinary D shares of £ 1.00 each	50		50
50 Ordinary B shares of £ 1.00 each	50		50
	1,099		1,099

8. Related party transactions

Other related party transactions

	2025		2024
	£		£
Amounts owed to entities with control, joint control or significant influence over the company	(512,653)		(220,381)
Amounts owed by related parties	199,526		75,308

During the year, the company received management charges of £1,100,000 (2024: £850,000) and incurred rent of £11,757 (2024: £11,757) to a related party.

9. Ultimate controlling party

Parent Company:

Opro Group Limited

35 Ballards Lane, London, United Kingdom, N3 1XW

The ultimate controlling parties are A Lovat and C Lovat.