Company No: 08688611 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	185,081		221,915
Investments	4	2,303,953		2,225,175
		2,489,034		2,447,090
Current assets
Debtors	5	293,641		347,755
Cash at bank and in hand		27,239		26,173
		320,880		373,928
Creditors: amounts falling due within one year	6	( 2,141,164)		( 2,415,813)
Net current liabilities		(1,820,284)		(2,041,885)
Total assets less current liabilities		668,750		405,205
Creditors: amounts falling due after more than one year	7	( 131,989)		( 2,708)
Net assets		536,761		402,497
Capital and reserves
Called-up share capital	8	1,149		1,149
Profit and loss account		535,612		401,348
Total shareholders' funds		536,761		402,497

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.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; 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 Comprehensive Income has not been delivered.

The financial statements of OPROGROUP Limited (registered number: 08688611) were approved and authorised for issue by the Board of Directors. 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

OPROGROUP 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

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of the assumption depends upon the continued financial support of the company's bankers and subsidiary undertakings.

If the company were unable to continue in existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that might arise.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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 Comprehensive Income 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.

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:

Leasehold improvements	depreciated over the life of the lease
Plant and machinery	25 % reducing balance
Vehicles	3 years straight line
Fixtures and fittings	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.

Leases

The company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year	0		0

The comparative number has been adjusted to exclude those directors who are not employed under contracts of service.

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 April 2024	205,206		15,085		1,678		37,017		258,986
Additions	6,437		0		0		0		6,437
At 31 March 2025	211,643		15,085		1,678		37,017		265,423
Accumulated depreciation
At 01 April 2024	27,094		3,056		1,072		5,849		37,071
Charge for the financial year	31,913		3,007		559		7,792		43,271
At 31 March 2025	59,007		6,063		1,631		13,641		80,342
Net book value
At 31 March 2025	152,636		9,022		47		23,376		185,081
At 31 March 2024	178,112		12,029		606		31,168		221,915

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	2,106,367
At 31 March 2025	2,106,367
Carrying value at 31 March 2025	2,106,367
Carrying value at 31 March 2024	2,106,367

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

5. Debtors

	2025		2024
	£		£
Trade debtors	0		773
Amounts owed by group undertakings	0		220,381
Other debtors	293,641		126,601
	293,641		347,755

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		88,889
Trade creditors	150,847		14,221
Amounts owed to group undertakings	811,397		742,815
Other creditors	1,178,920		1,569,888
	2,141,164		2,415,813

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		2,708
Other creditors	131,989		0
	131,989		2,708

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 Ordinary D shares of £ 1.00 each	50		50
99 Ordinary C shares of £ 1.00 each	99		99
50 Ordinary E shares of £ 1.00 each	50		50
900 Ordinary shares of £ 1.00 each	900		900
50 Ordinary B shares of £ 1.00 each	50		50
	1,149		1,149

B and D Non voting shares carry no voting rights but carry limited dividend and capital distribution rights.

C and E Non voting shares carry no voting rights but carry rights to dividend and capital distribution.

Ordinary shares carry full rights towards voting, dividends and capital distribution.

9. Financial commitments

Commitments

In the prior year, the company had given a guarantee in respect of a loan outstanding at the balance sheet. This is secured by a fixed and floating charge over the assets of the company. Furthermore, the loan has been paid off during the current year.

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	288,750		1,093,313

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2025		2024
	£		£
Amounts owed to entities over which the entity has control, joint control or significant influence	(811,397)		(742,815)
Amounts owed by entities over which the entity has control, joint control or significant influence	0		220,381
Amounts owed to related parties	(171,102)		0

Other related party transactions

During the year the company charged rent of £300,000 (2024: £300,000) to related parties and interest totaling £18,581 (2024: £nil) was payable to related parties.

11. Ultimate controlling party

The ultimate controlling parties are A Lovat and C Lovat.