Opal Walk Properties Limited - Accounts to registrar (filleted) - small 23.2.5

Opal Walk Properties Limited - Accounts to registrar (filleted) - small 23.2.5

OPAL WALK PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 03791895 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

OPAL WALK PROPERTIES LIMITED
OPAL WALK PROPERTIES LIMITED (REGISTERED NUMBER: 03791895)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Balance sheet 1

Notes to the financial statements 2


OPAL WALK PROPERTIES LIMITED (REGISTERED NUMBER: 03791895)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investment property 4 280,000 120,000

Current assets
Debtors 5 922 400
Cash at bank 45,458 42,780
46,380 43,180
Creditors
Amounts falling due within one year 6 69,954 70,191
Net current liabilities (23,574 ) (27,011 )
Total assets less current liabilities 256,426 92,989

Provisions for liabilities 7 31,505 -
Net assets 224,921 92,989

Capital and reserves
Called up share capital 8 100 100
Fair value reserve 9 167,073 38,578
Retained earnings 57,748 54,311
Shareholders' funds 224,921 92,989

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

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

The directors acknowledge their 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2024 and were signed on its behalf by:





Mr T E M Riggs - Director


The notes form part of these financial statements

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OPAL WALK PROPERTIES LIMITED (REGISTERED NUMBER: 03791895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. Statutory information

Opal Walk Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03791895. The registered office is 7 & 8 Church Street, Wimborne, Dorset, England, BH21 1JH and business address is 37 Steepleton Road, Broadstone, Dorset, BH18 8LH.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents commercial rent received.

Investment property
Investment property is shown as most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in other comprehensive income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

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OPAL WALK PROPERTIES LIMITED (REGISTERED NUMBER: 03791895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. Investment property
Total
£   
Fair value
At 1 November 2022 120,000
Revaluations 160,000
At 31 October 2023 280,000
Net book value
At 31 October 2023 280,000
At 31 October 2022 120,000

Appraisal of investment property was made on 31 October 2023 by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 678 197
Prepayments 244 203
922 400

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Tax 1,979 2,132
Other creditors 2,375 2,375
Directors' current accounts 65,132 65,240
Accruals and deferred income 468 444
69,954 70,191

7. Provisions for liabilities
2023 2022
£    £   
Deferred tax 31,505 -

Deferred
tax
£   
Revaluation 31,505
Balance at 31 October 2023 31,505

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

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OPAL WALK PROPERTIES LIMITED (REGISTERED NUMBER: 03791895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


9. Reserves
Fair
value
reserve
£   
At 1 November 2022 38,578
Transfers 128,495

At 31 October 2023 167,073

10. Ultimate controlling party

The Company is under the control of the Director - Julia Ann Gillate, by virtue of her 100% holding of the issued voting share capital of the Company.

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