Opus Land North (Cockermouth) Limited Filleted accounts for Companies House (small and micro)

OPUS LAND NORTH (COCKERMOUTH) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08794017

Opus Land North (Cockermouth) Limited

Filleted unaudited financial statements

31 March 2020

Opus Land North (Cockermouth) Limited

Statement of financial position

31 March 2020

	2020		2019
Note	£	£	£	£

Current assets

Stocks		–	122,222
Debtors	5	12	2,216
Cash at bank and in hand		640	618
		----	---------
		652	125,056

Creditors: amounts falling due within one year	6	( 552)		( 124,956)
		----		---------
Net current assets			100		100
			----		----
Total assets less current liabilities			100		100
			----		----
Net assets			100		100
			----		----

Capital and reserves

Called up share capital	100	100
	----	----
Shareholders funds	100	100
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st March 2020 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 December 2020 , and are signed on behalf of the board by:

Mr A J Duncan

Director

Company registration number: 08794017

Opus Land North (Cockermouth) Limited

Notes to the financial statements

Year ended 31st March 2020

1. General information

The principal activity of the company is that of a nominee company. The company is a private limited company, which is incorporated in England and Wales (no 08794017 ). Opus Land North (Cockermouth) Limited is a nominee company that has no beneficial interest in the transactions it undertakes on trust for a number of joint venture parties. Any profits or losses arising from these transactions relate to the joint venture agreement. The address of the registered office is 35 Brook Street, Ilkley, West Yorkshire, LS29 8AG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the basis that the company can continue to operate as a going concern. The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. This conclusion was made having considered the impact of the worldwide Covid-19 pandemic on future operations and the potentially reduced level of trade anticipated. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Staff costs

The average number of persons employed by the company during the year, including directors, amounted to 3 (2019: 3).

5. Debtors

	2020	2019
	£	£

Trade debtors	–	72
Amounts owed by group undertakings	–	2,046
Other debtors	12	98
	----	------
	12	2,216
	----	------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£

Amounts owed to group undertakings	552	61,080
Other creditors	–	63,876
	----	---------
	552	124,956
	----	---------