2022-04-012023-03-312023-03-31false04429613OPEN COMMUNICATION DESIGN 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OPEN COMMUNICATION DESIGN LIMITED

Registered Number
04429613
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

OPEN COMMUNICATION DESIGN LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

KENNEDY, Alan Patrick John

Registered Address

North Barn Laurel Farm
Westham
Wedmore
BS28 4UZ

Registered Number

04429613 (England and Wales)
OPEN COMMUNICATION DESIGN LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6270,311270,366
270,311270,366
Current assets
Debtors7113-
Cash at bank and on hand5886,524
7016,524
Creditors amounts falling due within one year8(124,358)(123,753)
Net current assets (liabilities)(123,657)(117,229)
Total assets less current liabilities146,654153,137
Creditors amounts falling due after one year9(131,891)(137,026)
Provisions for liabilities10(4,744)(4,744)
Net assets10,01911,367
Capital and reserves
Called up share capital100100
Other reserves97,23097,230
Profit and loss account(87,311)(85,963)
Shareholders' funds10,01911,367
The financial statements were approved and authorised for issue by the Director on 5 October 2023, and are signed on its behalf by:
KENNEDY, Alan Patrick John
Director
Registered Company No. 04429613
OPEN COMMUNICATION DESIGN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principle activity of the company is property investment.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year11
6.Property, plant and equipment

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 April 22270,0001,322271,322
At 31 March 23270,0001,322271,322
Depreciation and impairment
At 01 April 22-956956
Charge for year-5555
At 31 March 23-1,0111,011
Net book value
At 31 March 23270,000311270,311
At 31 March 22270,000366270,366
7.Debtors

2023

2022

££
Other debtors113-
Total113-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables580580
Taxation and social security-3,591
Other creditors123,420118,124
Accrued liabilities and deferred income3581,458
Total124,358123,753
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts131,891137,026
Total131,891137,026
10.Provisions for liabilities

2023

2022

££
Other provisions4,7444,744
Total4,7444,744