ACCOUNTS - Final Accounts

OPAL TRANSPORT EQUIPMENT LIMITED - Company Information

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Registered number: 01251636

OPAL TRANSPORT EQUIPMENT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

OPAL TRANSPORT EQUIPMENT LIMITED

REGISTERED NUMBER: 01251636

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2018

		2018		2017
Note		£		£

Fixed assets
Investments	4		13,856		13,856
			13,856		13,856

Creditors: amounts falling due within one year	5	(1,580)		(1,580)
Net current liabilities			(1,580)		(1,580)
Total assets less current liabilities			12,276		12,276

Net assets			12,276		12,276

Capital and reserves
Called up share capital	6	525	525
Capital redemption reserve		181	181
Profit and loss account		11,570	11,570
		12,276	12,276

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OPAL TRANSPORT EQUIPMENT LIMITED

REGISTERED NUMBER: 01251636

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2018

For the year ended 31 October 2018 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2019.

Stephen John Hardwick

Director

The notes on pages 5 to 7 form part of these financial statements.

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OPAL TRANSPORT EQUIPMENT LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 OCTOBER 2018

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 November 2017	525	181	11,570	12,276
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	-	-
Total transactions with owners	-	-	-	-
At 31 October 2018	525	181	11,570	12,276

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OPAL TRANSPORT EQUIPMENT LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 OCTOBER 2017

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 November 2016	706	-	578,550	579,256
Comprehensive income for the year
Profit for the year	-	-	739,520	739,520
Total comprehensive income for the year	-	-	739,520	739,520
Purchase of own shares	-	181	(1,306,500)	(1,306,319)
Shares redeemed during the year	(181)	-	-	(181)
Total transactions with owners	(181)	181	(1,306,500)	(1,306,500)
At 31 October 2017	525	181	11,570	12,276

The notes on pages 5 to 7 form part of these financial statements.

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OPAL TRANSPORT EQUIPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

1.	General information

The company is registered in England and Wales. The Company's registered office is Commercial Road, Bloxwich, Walsall, West Midlands, WS2 7NQ. The principal activity of the company continues to be that of an investment holding company with no trading activities.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.3

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

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OPAL TRANSPORT EQUIPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 November 2017	13,856
	At 31 October 2018	13,856

	Net book value
	At 31 October 2018	13,856
	At 31 October 2017	13,856

The following were subsidiary undertakings of the Company:

	Subsidiary undertakings
	Name	Principal activity

Integrated Tanker Services Limited

Purchase and sale of tankers and commercial vehicles.

The aggregate of the share capital and reserves as at 31 October 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
	Aggregate of share capital and reserves	Profit/(loss)
	£	£

Integrated Tanker Services Limited

4,579,117

(132,035)

5.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

	Other creditors	1,580	1,580

6.	Share capital
		2018	2017
		£	£

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OPAL TRANSPORT EQUIPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

6.Share capital (continued)

Allotted, called up and fully paid

10,499 ordinary shares of £0.05 each	525	525

7.	Controlling party

The controlling interest in the company is held by Stephen John Hardwick.

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