IRIS Accounts Production v19.3.0.619 08390934 Board of Directors 1.4.18 31.3.19 31.3.19 false true false false true false Ordinary 0.01000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 08390934 2018-03-31 08390934 2019-03-31 08390934 2018-04-01 2019-03-31 08390934 2017-03-31 08390934 2017-04-01 2018-03-31 08390934 2018-03-31 08390934 ns15:EnglandWales 2018-04-01 2019-03-31 08390934 ns14:PoundSterling 2018-04-01 2019-03-31 08390934 ns10:Director1 2018-04-01 2019-03-31 08390934 ns10:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 08390934 ns10:SmallEntities 2018-04-01 2019-03-31 08390934 ns10:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 08390934 ns10:SmallCompaniesRegimeForDirectorsReport 2018-04-01 2019-03-31 08390934 ns10:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 08390934 ns10:FullAccounts 2018-04-01 2019-03-31 08390934 ns10:OrdinaryShareClass1 2018-04-01 2019-03-31 08390934 ns10:Director3 2018-04-01 2019-03-31 08390934 ns10:Director4 2018-04-01 2019-03-31 08390934 ns10:Director5 2018-04-01 2019-03-31 08390934 ns10:CompanySecretary1 2018-04-01 2019-03-31 08390934 ns10:RegisteredOffice 2018-04-01 2019-03-31 08390934 ns10:Director2 2018-04-01 2019-03-31 08390934 ns5:CurrentFinancialInstruments 2019-03-31 08390934 ns5:CurrentFinancialInstruments 2018-03-31 08390934 ns5:ShareCapital 2019-03-31 08390934 ns5:ShareCapital 2018-03-31 08390934 ns5:SharePremium 2019-03-31 08390934 ns5:SharePremium 2018-03-31 08390934 ns5:RetainedEarningsAccumulatedLosses 2019-03-31 08390934 ns5:RetainedEarningsAccumulatedLosses 2018-03-31 08390934 ns5:LeaseholdImprovements 2018-04-01 2019-03-31 08390934 ns5:PlantMachinery 2018-04-01 2019-03-31 08390934 ns5:ComputerEquipment 2018-04-01 2019-03-31 08390934 ns5:PlantMachinery 2018-03-31 08390934 ns5:PlantMachinery 2019-03-31 08390934 ns5:PlantMachinery 2018-03-31 08390934 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2019-03-31 08390934 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2018-03-31 08390934 ns5:WithinOneYear 2019-03-31 08390934 ns5:WithinOneYear 2018-03-31 08390934 ns10:OrdinaryShareClass1 2019-03-31


REGISTERED NUMBER: 08390934 (England and Wales)









OPPO BROTHERS LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019






OPPO BROTHERS LIMITED (REGISTERED NUMBER: 08390934)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


OPPO BROTHERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DIRECTORS: C F Thuillier
H N Thuillier
R M Weening
R M Wessels





SECRETARY: S L Boubenne





REGISTERED OFFICE: Food Exchange Studio 3.05
New Covent Garden Market
London
Greater London
SW8 5EL





REGISTERED NUMBER: 08390934 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

OPPO BROTHERS LIMITED (REGISTERED NUMBER: 08390934)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2019

The directors present their report with the financial statements of the company for the year ended 31 March 2019.

PRINCIPAL ACTIVITY
The principal activities of Oppo Brothers Limited for the year were production of low calorie ice cream and
single serve desserts, selling this to retailers and wholesalers across 12 countries, and undertaking targeted
initiatives to grow consumer demand for Oppo.

REVIEW OF BUSINESS
The level of business grew significantly, with new supermarket listings in the UK and successful launches into
major supermarket chains in Europe. We experienced supply shortages during the hot summer of 2018
which meant that revenue and profits were suppressed, and lessons were learned and implemented. In
addition, a requirement to change packaging in Germany necessitated a costly stickering exercise to stay on
shelves. This helped maintain our market position but impacted profitability in the short term.

FUTURE DEVELOPMENTS
Oppo Brothers Limited will continue to develop in line with its vision to ensure healthy ice cream outsells
regular ice cream across Europe by creating a product that is unrivalled in quality and taste. This includes
launching new flavours and formats, continuing to improve the effectiveness of our supply chain, growing
distribution, and driving trial with new consumers.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2018 to the date of this
report.

C F Thuillier
H N Thuillier

Other changes in directors holding office are as follows:

M I Escolme - resigned 12 June 2018

R M Weening and R M Wessels were appointed as directors after 31 March 2019 but prior to the date of this
report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006
relating to small companies.

ON BEHALF OF THE BOARD:





C F Thuillier - Director


14 November 2019

OPPO BROTHERS LIMITED (REGISTERED NUMBER: 08390934)

BALANCE SHEET
31 MARCH 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,845 16,180

CURRENT ASSETS
Stocks 1,156,793 526,276
Debtors 5 1,024,994 819,316
Cash at bank 1,289,934 157,192
3,471,721 1,502,784
CREDITORS
Amounts falling due within one year 6 2,551,449 1,083,427
NET CURRENT ASSETS 920,272 419,357
TOTAL ASSETS LESS CURRENT
LIABILITIES

950,117

435,537

CAPITAL AND RESERVES
Called up share capital 8 12,880 10,415
Share premium 2,157,949 696,111
Retained earnings (1,220,712 ) (270,989 )
SHAREHOLDERS' FUNDS 950,117 435,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 November 2019 and were signed on
its behalf by:





C F Thuillier - Director


OPPO BROTHERS LIMITED (REGISTERED NUMBER: 08390934)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

1. STATUTORY INFORMATION

Oppo Brothers 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.

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 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.
Improvements to property - over the period of the lease
Plant and machinery - 25% on cost
Computer equipment - 25% 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.

Financial instruments
The company enters into financial instruments transactions that result in the recognition of financial
assets and liabilities. The policies for recognising the different financial instruments are as follows:

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other
short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are
shown within borrowings or current liabilities.

Trade and other creditors
Short term trade 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

Convertible loans
The company has issued convertible loan stock that can be converted to ordinary shares with voting
rights at the option of the holder.

The liability component of the financial instrument is recognised on the date of inception at the fair
value of a similar liability that does not have an equity conversion option. The equity element is
recognised as the difference between the fair value of the compound financial instrument as a whole
and the fair value of the liability component.

Subsequently, the liability component of a compound financial instrument is measured at amortised
cost using the effective interest rate method.


OPPO BROTHERS LIMITED (REGISTERED NUMBER: 08390934)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2018 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2018 30,025
Additions 24,972
Disposals (4,798 )
At 31 March 2019 50,199
DEPRECIATION
At 1 April 2018 13,845
Charge for year 11,307
Eliminated on disposal (4,798 )
At 31 March 2019 20,354
NET BOOK VALUE
At 31 March 2019 29,845
At 31 March 2018 16,180

OPPO BROTHERS LIMITED (REGISTERED NUMBER: 08390934)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 871,847 745,530
Other debtors 153,147 73,786
1,024,994 819,316

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 746,063 455,266
Taxation and social security - 42,277
Other creditors 1,805,386 585,884
2,551,449 1,083,427

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2019 2018
£    £   
Within one year 9,103 9,103

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
1,041,478 Ordinary £0.01 12,880 10,415

246,493 ordinary shares of £0.01 each were allotted as fully paid at an average premium of £5.93 per
share during the year.