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 2019

OPAL TRANSPORT EQUIPMENT LIMITED

REGISTERED NUMBER: 01251636

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2019

		2019		2018
Note		£		£

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

Creditors: amounts falling due within one year	(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	525	525
Capital redemption reserve	181	181
Profit and loss account	11,570	11,570
	12,276	12,276

For the year ended 31 October 2019 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 11 May 2020.

Stephen John Hardwick

Director

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OPAL TRANSPORT EQUIPMENT LIMITED

REGISTERED NUMBER: 01251636

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2019

The notes on pages 3 to 4 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 2019

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

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.

2.4

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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

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OPAL TRANSPORT EQUIPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 November 2018	13,856
	At 31 October 2019	13,856

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Class of shares	Holding

Integrated Tanker Services Limited

Ordinary

100%

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

	Other creditors	1,580	1,580

6.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

10,499 (2018 - 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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