Op Trading Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09180445 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

OP TRADING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O McMahon

P I Thompson

REGISTERED OFFICE:

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

REGISTERED NUMBER:

09180445 (England and Wales)

ACCOUNTANTS:

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

FIXED ASSETS

Tangible assets

4

235,428

268,081

CURRENT ASSETS

Stocks

32,345

42,912

Debtors

36,556

129,254

Cash at bank and in hand

103,699

81,081

172,600

253,247

CREDITORS

Amounts falling due within one year

492,772

484,504

NET CURRENT LIABILITIES

(320,172

)

(231,257

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(84,744

)

36,824

CREDITORS

Amounts falling due after more than one year

5

133,651

149,550

NET LIABILITIES

(218,395

)

(112,726

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(218,495

)

(112,826

)

SHAREHOLDERS' FUNDS

(218,395

)

(112,726

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 31 May 2018 and were signed on its behalf by:

P I Thompson - Director

1.	STATUTORY INFORMATION

Op Trading Limited 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 company's place of business differs from its registered office but is also in Southend.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

over remaining period of lease

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

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

slow moving items.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2016 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

408,535

Additions

44,580

At 31 August 2017

453,115

DEPRECIATION

At 1 September 2016

140,454

Charge for year

77,233

At 31 August 2017

217,687

NET BOOK VALUE

At 31 August 2017

235,428

At 31 August 2016

268,081

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans more 5 yr by instal

70,052

87,885

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

52,000

52,000

Between one and five years

208,000

208,000

In more than five years

546,000

598,000

806,000

858,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

149,551

164,966

The company's bank holds a fixed and floating charge over the assets of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

100

100

100

9.	GOING CONCERN

The financial statements show that at 31 August 2017 the company had a deficiency of net assets amounting to

£218,395 (2016 - £112,726). The continuation of the company's activities is dependent on the continued support

of its directors. The financial statements are therefore drawn up under the historical cost convention and on a

going concern basis.

10.	FIRST YEAR ADOPTION

The year ended 31 August 2017 represents the first year in which the company has reported under FRS 102.

In order to adopt the requirements of the new reporting standards, the comparative results have therefore been

restated in accordance with FRS 102. The company's effective date of transition is therefore 1 March 2016.

Although the directors have retrospectively reviewed the company's reported figures since transition, there were

no adjustments required under the new accounting standards. All of the company's existing accounting policies

and estimates were in line with the requirements of the new standards so no further revisions were necessary.

Accordingly the company has not presented a reconciliation of changes in equity or profit and loss, as there are

none.

In all other respects, the company's reported financial statements adopt the new reporting standards in full.