Opel Flooring Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10280353 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

OPEL FLOORING LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D Seidenfeld

REGISTERED OFFICE:

109 Wargrave Avenue

London

N15 6TU

REGISTERED NUMBER:

10280353 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

5,659

-

CURRENT ASSETS

Stocks

35,000

32,500

Debtors

5

54,834

40,982

89,834

73,482

CREDITORS

Amounts falling due within one year

6

(59,274

)

(41,162

)

NET CURRENT ASSETS

30,560

32,320

TOTAL ASSETS LESS CURRENT LIABILITIES

36,219

32,320

CREDITORS

Amounts falling due after more than one year

7

(41,393

)

(44,022

)

NET LIABILITIES

(5,174

)

(11,702

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

(5,175

)

(11,703

)

SHAREHOLDERS' FUNDS

(5,174

)

(11,702

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2024 and were signed by:

D Seidenfeld - Director

1.	STATUTORY INFORMATION

Opel Flooring Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

Additions

6,534

157

6,691

At 31 July 2023

6,534

157

6,691

DEPRECIATION

Charge for year

980

52

1,032

At 31 July 2023

980

52

1,032

NET BOOK VALUE

At 31 July 2023

5,554

105

5,659

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

9,944

40

Other debtors

44,890

40,942

54,834

40,982

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans and overdrafts

8,523

7,989

Trade creditors

2,314

-

Taxation and social security

5,921

4,469

Other creditors

42,516

28,704

59,274

41,162

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Other creditors

41,393

44,022

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

41,393

44,022

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.23

31.7.22

£

£

Bank overdrafts

8,523

7,989

Other loans

41,393

44,022

49,916

52,011

Under the bank loan, £41,393 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 August 2022

(11,703

)

Profit for the year

6,528

At 31 July 2023

(5,175

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Seidenfeld.