| Oportunitas Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention, as modified to include investment properties at fair value, 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). |
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The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £. |
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Turnover |
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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 rendering of services and the rent of investment property. Turnover from rent of investment property is recognised by reference to the date rents become payable under tenancy agreements. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. No current tax liability is recognised in the current or prior year but a deferred tax liability is accrued in respect of investment property revaluations. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. The provision carried in the current and prior year account is in respect of deferred tax on property revaluations. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Daniel Valentine ACA |
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Firm: |
Begbies Chartered Accountants and Registered Auditors |
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Date of audit report: |
10 December 2025 |
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| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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The Directors of Oportunitas and the staff who support the company are the employees of the parent organisation, Folkestone and Hythe District Council. |
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| 4 |
Tangible fixed assets |
Investment |
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properties |
| £ |
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Cost |
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At 1 April 2024 |
13,681,150 |
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Additions |
- |
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Deficit on revaluation |
(70,350) |
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At 31 March 2025 |
13,610,800 |
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Depreciation |
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At 31 March 2025 |
- |
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Net book value |
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At 31 March 2025 |
13,610,800 |
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At 31 March 2024 |
13,681,150 |
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Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
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Historical cost |
10,918,376 |
|
10,918,376 |
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Cumulative depreciation based on historical cost |
- |
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- |
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|
10,918,376 |
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10,918,376 |
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The investment properties were valued at 31 March 2025 by Sibley Pares, Chartered Surveyors, an independent valuer with a recognised and relevant professional qualification and with recent experience in the location and category of the investment properties being valued. The investment properties have been valued on the basis of open market value and using comparable property data, in accordance with the current RICS Valuation Standards by the Royal Institution of Chartered Surveyors. |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
888 |
|
1,468 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
15,221 |
|
- |
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Other debtors |
30,659 |
|
36,770 |
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46,768 |
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38,238 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Other loans |
49,814 |
|
83,101 |
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Trade creditors |
777 |
|
48,396 |
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Taxation and social security costs |
- |
|
2,059 |
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Other creditors |
20,950 |
|
31,733 |
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71,541 |
|
165,289 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
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Other loans |
6,320,749 |
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6,370,563 |
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| 8 |
Loans |
2025 |
|
2024 |
| £ |
£ |
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Creditors include: |
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Instalments falling due for payment within one year |
49,814 |
|
47,470 |
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Instalments falling due for payment within two to five years |
225,108 |
|
214,512 |
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Instalments falling due for payment after more than five years |
6,095,641 |
|
6,156,051 |
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6,370,563 |
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6,418,033 |
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Secured bank loans |
6,370,563 |
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6,418,033 |
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Amounts payable to Folkestone and Hythe District Council are secured by fixed and floating charges over the company's properties. |
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| 9 |
Related party transactions |
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The company has taken advantage of the exemption in FRS 102 whereby it has not disclosed transactions with it's ultimate parent company. Such transactions were on normal commercial terms as part of the company's ongoing investment and operating activities. |
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| 10 |
Controlling party |
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For the current and previous year, the company was a wholly owned subsidiary of Folkestone and Hythe District Council. |
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| 11 |
Other information |
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Oportunitas Limited is a private company limited by shares and incorporated in England. Its registered office is: c/o Folkestone and Hythe District Council, Castle Hill Avenue, Folkestone, CT20 2QY. |